10-Q Filing

QXO, INC. CIK: 1236275 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001185185-13-001683`
Period End Date	20130630
Filing Date	20130813
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	ssnt-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 84 Cash Flow Statement 65

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$80.00K	USD	Point-in-time
Accounts receivable, allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$80.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.57K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$177.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$233.72K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.48K	USD	Point-in-time
Accounts receivable, net of allowance of $80,000	`AccountsReceivableNetCurrent`	$1.24M	USD	Point-in-time
Accounts receivable, net of allowance of $80,000	`AccountsReceivableNetCurrent`	$1.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$131.52K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$200.30K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$276.42K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$250.23K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$786.68K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$884.51K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$23.06K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$22.00K	USD	Point-in-time
Total assets	`Assets`	$2.80M	USD	Point-in-time
Total assets	`Assets`	$2.58M	USD	Point-in-time
Bank line of credit	`LinesOfCreditCurrent`	$178.63K	USD	Point-in-time
Bank line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.37M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.96M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$12.42K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$12.84K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$108.23K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$88.83K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.67M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.36M	USD	Point-in-time
Notes payable to related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Notes payable to related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Total current liabilities	`Liabilities`	$3.18M	USD	Point-in-time
Total current liabilities	`Liabilities`	$3.62M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.35M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.53M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-814.53K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-599.48K	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$2.80M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$2.58M	USD	Point-in-time

Income Statement 84 line items

Line Item	Tag	Value	Unit	Period
Product, net	`SalesRevenueGoodsNet`	$1.24M	USD	2 Qtrs
Product, net	`SalesRevenueGoodsNet`	$528.37K	USD	1 Quarter
Product, net	`SalesRevenueGoodsNet`	$821.13K	USD	2 Qtrs
Product, net	`SalesRevenueGoodsNet`	$462.16K	USD	1 Quarter
Service, net	`SalesRevenueServicesNet`	$6.67M	USD	2 Qtrs
Service, net	`SalesRevenueServicesNet`	$3.34M	USD	1 Quarter
Service, net	`SalesRevenueServicesNet`	$2.61M	USD	1 Quarter
Service, net	`SalesRevenueServicesNet`	$5.16M	USD	2 Qtrs
Total revenues, net	`SalesRevenueNet`	$3.87M	USD	1 Quarter
Total revenues, net	`SalesRevenueNet`	$5.98M	USD	2 Qtrs
Total revenues, net	`SalesRevenueNet`	$3.07M	USD	1 Quarter
Total revenues, net	`SalesRevenueNet`	$7.92M	USD	2 Qtrs
Product	`CostOfGoodsSold`	$373.32K	USD	2 Qtrs
Product	`CostOfGoodsSold`	$582.29K	USD	2 Qtrs
Product	`CostOfGoodsSold`	$203.98K	USD	1 Quarter
Product	`CostOfGoodsSold`	$239.98K	USD	1 Quarter
Service	`CostOfServices`	$1.57M	USD	1 Quarter
Service	`CostOfServices`	$3.13M	USD	2 Qtrs
Service	`CostOfServices`	$2.02M	USD	1 Quarter
Service	`CostOfServices`	$4.09M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$3.50M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$2.26M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.77M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$4.67M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.48M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.24M	USD	2 Qtrs
Selling expenses	`SellingExpense`	$1.42M	USD	2 Qtrs
Selling expenses	`SellingExpense`	$569.86K	USD	1 Quarter
Selling expenses	`SellingExpense`	$1.08M	USD	2 Qtrs
Selling expenses	`SellingExpense`	$688.86K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.22M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.46M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$765.58K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$606.62K	USD	1 Quarter
Shared-based compensation	`ShareBasedCompensation`	$408.18K	USD	1 Quarter
Shared-based compensation	`ShareBasedCompensation`	$4.40K	USD	1 Quarter
Shared-based compensation	`ShareBasedCompensation`	$1.13M	USD	2 Qtrs
Shared-based compensation	`ShareBasedCompensation`	$8.81K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$146.20K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$70.42K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$51.75K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$32.55K	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.49M	USD	2 Qtrs
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.53M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.03M	USD	2 Qtrs
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.62M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$208.98K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$77.34K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.01M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-319.78K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$4.25K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-31.26K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-15.15K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-14.25K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-32.60K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-36.85K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-31.26K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-15.15K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-14.25K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-334.03K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-1.04M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$62.19K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$177.72K	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	116.80M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	117.16M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	113.82M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	116.99M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	113.82M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	117.16M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	116.99M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	116.80M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-334.03K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-1.04M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$62.19K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$177.72K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$45.45K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.37K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$49.40K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$6.30K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$6.30K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$97.83K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$4.25K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$408.18K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$4.40K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.13M	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$8.81K	USD	2 Qtrs
Common stock issued for services	`CommonStockIssuedForServices`	$5.00K	USD	2 Qtrs
Common stock issued for services	`CommonStockIssuedForServices`	-	USD	2 Qtrs
Stock warrants issued in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$9.83K	USD	2 Qtrs
Stock warrants issued in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$28.53K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-271.06K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$408.06K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$68.78K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-49.77K	USD	2 Qtrs
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.07K	USD	2 Qtrs
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-21.30K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-587.02K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-83.98K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$421.00	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$5.19K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$201.55K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$311.01K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$286.88K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-58.16K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$62.66K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Acquisition of new business	`PaymentsToAcquireBusinessesGross`	$441.96K	USD	Annual
Acquisition of new business	`PaymentsToAcquireBusinessesGross`	$441.96K	USD	2 Qtrs
Acquisition of new business	`PaymentsToAcquireBusinessesGross`	-	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.18K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$53.73K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.18K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-558.36K	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$579.82K	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	2 Qtrs
Repayment of bank line of credit	`RepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Repayment of bank line of credit	`RepaymentsOfLinesOfCredit`	$178.63K	USD	2 Qtrs
Principal payments under capital leases obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$20.03K	USD	2 Qtrs
Principal payments under capital leases obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$25.98K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-204.61K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$559.79K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$53.09K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-56.73K	USD	2 Qtrs
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.57K	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$177.00K	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$233.72K	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.48K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.57K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$177.00K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$233.72K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.48K	USD	Point-in-time
Interest expense	`InterestPaid`	$29.49K	USD	2 Qtrs
Interest expense	`InterestPaid`	$29.73K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.