XML 72 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]    
Revenues $ 163,365,565 $ 180,720,661
Cost of revenues (exclusive of depreciation and amortization shown separately below) 134,777,113 151,314,039
Gross profit 28,588,452 29,406,622
Operating expenses:    
Selling, general and administrative expenses 24,182,407 21,927,264
Depreciation and amortization 7,180,089 6,991,010
Total operating expenses 31,362,496 28,918,274
Income (loss) from operations (2,774,044) 488,348
Other income (expense):    
Other income 920,197 659
Gain (loss) on sale of assets (74,111) 45,553
Gain (loss) on change in value of derivative warrant liability (487,524) 763,716
Interest expense (3,070,071) (3,281,855)
Total other expense (2,711,509) (2,471,927)
Loss before income taxes (5,485,553) (1,983,579)
Income tax benefit 0 0
Net loss (5,485,553) (1,983,579)
Net income (loss) attributable to non-controlling interest and redeemable non-controlling interest (436,974) 234,188
Net loss attributable to Vertex Energy, Inc. (5,048,579) (2,217,767)
Accretion of redeemable noncontrolling interest to redemption value (2,279,371) 0
Accretion of discount on series B and B-1 Preferred Stock 2,489,722 3,132,414
Dividends on series B and B-1 Preferred Stock (1,627,956) (2,687,123)
Net loss available to common stockholders $ (11,445,628) $ (8,037,304)
Loss per common share    
Basic (in dollars per share) $ (0.28) $ (0.23)
Diluted (in dollars per share) $ (0.28) $ (0.23)
Shares used in computing loss per share    
Basic (in shares) 40,988,946 35,411,264
Diluted (in shares) 40,988,946 35,411,264