10-Q Filing

QXO, INC. CIK: 1236275 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001185185-14-002182`
Period End Date	20140630
Filing Date	20140814
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	ssnt-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 88 Cash Flow Statement 60

Balance Sheet 58 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`	$4.48K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$762.89K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$938.54K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.57K	USD	Point-in-time
Accounts receivable, net of allowance of $80,000	`AccountsReceivableNetCurrent`	$1.57M	USD	Point-in-time
Accounts receivable, net of allowance of $80,000	`AccountsReceivableNetCurrent`	$1.79M	USD	Point-in-time
Deferred tax asset current	`DeferredTaxAssetsLiabilitiesNetCurrent`	$40.00K	USD	Point-in-time
Deferred tax asset current	`DeferredTaxAssetsLiabilitiesNetCurrent`	$40.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$595.89K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$159.28K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.54M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$207.49K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$241.90K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$927.41K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$687.88K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$35.96K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$80.00K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$25.66K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$22.84K	USD	Point-in-time
Total assets	`Assets`	$3.57M	USD	Point-in-time
Total assets	`Assets`	$4.56M	USD	Point-in-time
Bank line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Bank line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$175.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$242.34K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.84M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.94M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$12.54K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$13.29K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$2.97K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$2.67K	USD	Point-in-time
Capital lease obligations current portion	`CapitalLeaseObligationsCurrent`	$53.73K	USD	Point-in-time
Capital lease obligations current portion	`CapitalLeaseObligationsCurrent`	$50.53K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.08M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.82M	USD	Point-in-time
Capital lease obligations long-term	`CapitalLeaseObligationsNoncurrent`	$33.36K	USD	Point-in-time
Capital lease obligations long-term	`CapitalLeaseObligationsNoncurrent`	$48.62K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$296.87K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$104.52K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.67M	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`	$10.91M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.03M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-117.64K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-399.84K	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$3.57M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$4.56M	USD	Point-in-time

Income Statement 88 line items

Line Item	Tag	Value	Unit	Period
Product, net	`SalesRevenueGoodsNet`	$1.56M	USD	2 Qtrs
Product, net	`SalesRevenueGoodsNet`	$528.37K	USD	1 Quarter
Product, net	`SalesRevenueGoodsNet`	$946.80K	USD	1 Quarter
Product, net	`SalesRevenueGoodsNet`	$1.24M	USD	2 Qtrs
Service, net	`SalesRevenueServicesNet`	$6.67M	USD	2 Qtrs
Service, net	`SalesRevenueServicesNet`	$3.34M	USD	1 Quarter
Service, net	`SalesRevenueServicesNet`	$8.62M	USD	2 Qtrs
Service, net	`SalesRevenueServicesNet`	$4.31M	USD	1 Quarter
Total revenues, net	`SalesRevenueNet`	$3.87M	USD	1 Quarter
Total revenues, net	`SalesRevenueNet`	$7.92M	USD	2 Qtrs
Total revenues, net	`SalesRevenueNet`	$5.25M	USD	1 Quarter
Total revenues, net	`SalesRevenueNet`	$10.18M	USD	2 Qtrs
Product	`CostOfGoodsSold`	$454.76K	USD	1 Quarter
Product	`CostOfGoodsSold`	$239.98K	USD	1 Quarter
Product	`CostOfGoodsSold`	$582.29K	USD	2 Qtrs
Product	`CostOfGoodsSold`	$782.16K	USD	2 Qtrs
Service	`CostOfServices`	$2.02M	USD	1 Quarter
Service	`CostOfServices`	$5.04M	USD	2 Qtrs
Service	`CostOfServices`	$2.55M	USD	1 Quarter
Service	`CostOfServices`	$4.09M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$2.26M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$5.83M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$4.67M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$3.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.35M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.24M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.61M	USD	1 Quarter
Selling expenses	`SellingAndMarketingExpense`	$1.42M	USD	2 Qtrs
Selling expenses	`SellingAndMarketingExpense`	$1.62M	USD	2 Qtrs
Selling expenses	`SellingAndMarketingExpense`	$688.86K	USD	1 Quarter
Selling expenses	`SellingAndMarketingExpense`	$890.63K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.17M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$765.58K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.46M	USD	2 Qtrs
Shared-based compensation	`ShareBasedCompensation`	$8.81K	USD	2 Qtrs
Shared-based compensation	`ShareBasedCompensation`	$4.40K	USD	1 Quarter
Shared-based compensation	`ShareBasedCompensation`	$51.78K	USD	1 Quarter
Shared-based compensation	`ShareBasedCompensation`	$63.07K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$166.96K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$89.22K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$146.20K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$70.42K	USD	1 Quarter
Total selling, general and administrative expenses	`OperatingExpenses`	$2.12M	USD	1 Quarter
Total selling, general and administrative expenses	`OperatingExpenses`	$3.03M	USD	2 Qtrs
Total selling, general and administrative expenses	`OperatingExpenses`	$1.53M	USD	1 Quarter
Total selling, general and administrative expenses	`OperatingExpenses`	$4.02M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$208.98K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$334.37K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$132.73K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$77.34K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-15.15K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-31.26K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-24.22K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-14.23K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-15.15K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-24.22K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-31.26K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-14.23K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$118.50K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$310.15K	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$177.72K	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$62.19K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$129.52K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$58.61K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`ProfitLoss`	$59.89K	USD	1 Quarter
Net income	`ProfitLoss`	$180.63K	USD	2 Qtrs
Net income	`ProfitLoss`	$177.72K	USD	2 Qtrs
Net income	`ProfitLoss`	$62.19K	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	116.99M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	118.05M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	118.18M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	117.16M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	116.99M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	118.18M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	117.16M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	118.07M	shares	2 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$59.89K	USD	1 Quarter
Net income	`ProfitLoss`	$180.63K	USD	2 Qtrs
Net income	`ProfitLoss`	$177.72K	USD	2 Qtrs
Net income	`ProfitLoss`	$62.19K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$44.04K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$56.49K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.37K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$97.83K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$49.40K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$49.40K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$110.47K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$8.81K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$4.40K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$51.78K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$63.07K	USD	2 Qtrs
Common stock issued in exchange for services	`StockIssued1`	$38.50K	USD	2 Qtrs
Common stock issued in exchange for services	`StockIssued1`	-	USD	2 Qtrs
Stock warrants issued in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$28.53K	USD	2 Qtrs
Stock warrants issued in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$210.94K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-271.06K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$436.62K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$68.78K	USD	2 Qtrs
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.82K	USD	2 Qtrs
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.07K	USD	2 Qtrs
Accounts payable and accrued expenses and due to related party	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$101.23K	USD	2 Qtrs
Accounts payable and accrued expenses and due to related party	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-587.02K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$421.00	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-751.00	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$311.01K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$363.20K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$306.49K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$286.88K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.34K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.18K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.34K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.18K	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
Repayment of long-term debt	`RepaymentsOfBankDebt`	$90.30K	USD	2 Qtrs
Repayment of long-term debt	`RepaymentsOfBankDebt`	-	USD	2 Qtrs
Principal payments under capital leases obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$25.98K	USD	2 Qtrs
Principal payments under capital leases obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$30.20K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-204.61K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-120.50K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$175.65K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$53.09K	USD	2 Qtrs
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.48K	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$762.89K	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$938.54K	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.57K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.48K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$762.89K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$938.54K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.57K	USD	Point-in-time
Interest	`InterestPaid`	$24.97K	USD	2 Qtrs
Interest	`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.