XML 16 R4.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]    
Revenues $ 39,320,712 $ 41,368,195
Cost of revenues (exclusive of depreciation and amortization shown separately below) 34,844,349 35,045,151
Gross profit 4,476,363 6,323,044
Operating expenses:    
Selling, general and administrative expenses 5,347,741 5,645,442
Depreciation and amortization 1,737,013 1,694,099
Total operating expenses 7,084,754 7,339,541
Loss from operations (2,608,391) (1,016,497)
Other income (expense):    
Gain on sale of assets 2,293 42,680
Loss on change in value of derivative warrant liability (1,705,094) (431,751)
Interest expense (757,803) (802,515)
Total other expense (2,460,604) (1,191,586)
Loss before income tax (5,068,995) (2,208,083)
Income tax benefit (expense) 0 0
Net loss (5,068,995) (2,208,083)
Net income (loss) attributable to non-controlling interest (105,431) 50,539
Loss attributable to Vertex Energy, Inc. (4,963,564) (2,258,622)
Accretion of discount on Series B and B1 Preferred Stock (560,675) (642,290)
Dividends on Series B and B1 Preferred Stock (406,795) (554,917)
Loss available to common shareholders $ (5,931,034) $ (3,455,829)
Loss per common share    
Basic (in dollars per share) $ (0.15) $ (0.10)
Diluted (in dollars per share) $ (0.15) $ (0.10)
Shares used in computing earnings per share    
Basic (in shares) 40,195,925 33,063,732
Diluted (in shares) 40,195,925 33,063,732