10-Q Filing

QXO, INC. CIK: 1236275 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001185185-14-003024`
Period End Date	20140930
Filing Date	20141113
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	ssnt-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 88 Cash Flow Statement 66

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`	$90.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$938.01K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$762.89K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.48K	USD	Point-in-time
Accounts receivable, net of allowance of $90,000 and $80,000	`AccountsReceivableNetCurrent`	$1.57M	USD	Point-in-time
Accounts receivable, net of allowance of $90,000 and $80,000	`AccountsReceivableNetCurrent`	$1.92M	USD	Point-in-time
Unbilled services	`UnbilledReceivablesCurrent`	$90.00K	USD	Point-in-time
Unbilled services	`UnbilledReceivablesCurrent`	$488.00K	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`	$132.42K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$69.28K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.54M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$179.29K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$241.90K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$860.51K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$687.88K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$80.00K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$29.00K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$26.57K	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`	$5.13M	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$175.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$218.81K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.23M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.84M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$14.69K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$13.29K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$2.67K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$53.73K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$46.20K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.09M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.61M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.82M	USD	Point-in-time
Capital lease obligations long-term	`CapitalLeaseObligationsNoncurrent`	$48.62K	USD	Point-in-time
Capital lease obligations long-term	`CapitalLeaseObligationsNoncurrent`	$24.94K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$260.06K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$104.52K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.97M	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`	$10.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.21M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-399.84K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$238.41K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$5.13M	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$3.57M	USD	Point-in-time

Income Statement 88 line items

Line Item	Tag	Value	Unit	Period
Product, net	`SalesRevenueGoodsNet`	$2.90M	USD	3 Qtrs
Product, net	`SalesRevenueGoodsNet`	$2.24M	USD	3 Qtrs
Product, net	`SalesRevenueGoodsNet`	$995.14K	USD	1 Quarter
Product, net	`SalesRevenueGoodsNet`	$1.35M	USD	1 Quarter
Service, net	`SalesRevenueServicesNet`	$13.36M	USD	3 Qtrs
Service, net	`SalesRevenueServicesNet`	$10.05M	USD	3 Qtrs
Service, net	`SalesRevenueServicesNet`	$4.74M	USD	1 Quarter
Service, net	`SalesRevenueServicesNet`	$3.38M	USD	1 Quarter
Total revenues, net	`SalesRevenueNet`	$4.37M	USD	1 Quarter
Total revenues, net	`SalesRevenueNet`	$12.29M	USD	3 Qtrs
Total revenues, net	`SalesRevenueNet`	$16.27M	USD	3 Qtrs
Total revenues, net	`SalesRevenueNet`	$6.09M	USD	1 Quarter
Product	`CostOfGoodsSold`	$1.48M	USD	3 Qtrs
Product	`CostOfGoodsSold`	$1.15M	USD	3 Qtrs
Product	`CostOfGoodsSold`	$563.86K	USD	1 Quarter
Product	`CostOfGoodsSold`	$699.75K	USD	1 Quarter
Service	`CostOfServices`	$2.18M	USD	1 Quarter
Service	`CostOfServices`	$7.87M	USD	3 Qtrs
Service	`CostOfServices`	$6.27M	USD	3 Qtrs
Service	`CostOfServices`	$2.83M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$7.42M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$2.74M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$3.53M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$9.35M	USD	3 Qtrs
Gross profit	`GrossProfit`	$6.91M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.87M	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.63M	USD	1 Quarter
Selling expenses	`SellingAndMarketingExpense`	$2.35M	USD	3 Qtrs
Selling expenses	`SellingAndMarketingExpense`	$926.74K	USD	1 Quarter
Selling expenses	`SellingAndMarketingExpense`	$853.82K	USD	1 Quarter
Selling expenses	`SellingAndMarketingExpense`	$2.48M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.25M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.13M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$668.53K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.09M	USD	1 Quarter
Shared-based compensation	`ShareBasedCompensation`	$56.09K	USD	1 Quarter
Shared-based compensation	`ShareBasedCompensation`	$34.21K	USD	3 Qtrs
Shared-based compensation	`ShareBasedCompensation`	$25.40K	USD	1 Quarter
Shared-based compensation	`ShareBasedCompensation`	$119.16K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$95.10K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$72.40K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$262.06K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$218.60K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$4.73M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.69M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.11M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$146.90K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-62.08K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$467.51K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$801.88K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-20.14K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-21.49K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-45.72K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-51.40K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-51.40K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-20.14K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-21.49K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-45.72K	USD	3 Qtrs
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$95.50K	USD	3 Qtrs
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-82.22K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$446.01K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$756.16K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$327.36K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$197.85K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$95.50K	USD	3 Qtrs
Net income (loss)	`ProfitLoss`	$-82.22K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$428.80K	USD	3 Qtrs
Net income (loss)	`ProfitLoss`	$248.16K	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Fully diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	117.06M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	118.38M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	117.20M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	118.16M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	118.42M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	117.20M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	118.19M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	117.06M	shares	3 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$95.50K	USD	3 Qtrs
Net income	`ProfitLoss`	$-82.22K	USD	1 Quarter
Net income	`ProfitLoss`	$428.80K	USD	3 Qtrs
Net income	`ProfitLoss`	$248.16K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$51.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$71.37K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$84.68K	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$49.40K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$66.90K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$177.37K	USD	3 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$147.23K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$56.09K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$34.21K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$25.40K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$119.16K	USD	3 Qtrs
Common stock issued in exchange for services	`StockIssued1`	$-69.50K	USD	3 Qtrs
Common stock issued in exchange for services	`StockIssued1`	-	USD	3 Qtrs
Stock warrants issued in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	3 Qtrs
Stock warrants issued in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$28.53K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-335.83K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$349.43K	USD	3 Qtrs
Unbilled services	`IncreaseDecreaseInUnbilledReceivables`	$133.00K	USD	3 Qtrs
Unbilled services	`IncreaseDecreaseInUnbilledReceivables`	$398.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$63.15K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-50.08K	USD	3 Qtrs
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$3.74K	USD	3 Qtrs
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$161.00	USD	3 Qtrs
Accounts payable and accrued expenses and due to related party	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$415.93K	USD	3 Qtrs
Accounts payable and accrued expenses and due to related party	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-153.77K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$788.00	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$1.40K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$385.40K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$377.30K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$862.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$910.82K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.34K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.38K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.38K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.34K	USD	3 Qtrs
Repayment of bank line of credit	`RepaymentsOfLinesOfCredit`	$178.63K	USD	3 Qtrs
Repayment of bank line of credit	`RepaymentsOfLinesOfCredit`	-	USD	3 Qtrs
Proceeds from term loan	`ProceedsFromLoans`	$350.00K	USD	3 Qtrs
Proceeds from term loan	`ProceedsFromLoans`	-	USD	3 Qtrs
Repayment of note payable to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Repayment of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$20.00K	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfBankDebt`	$150.65K	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfBankDebt`	$29.25K	USD	3 Qtrs
Principal payments under capital leases obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$42.95K	USD	3 Qtrs
Principal payments under capital leases obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$39.22K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-213.60K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$102.90K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$933.52K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$686.88K	USD	3 Qtrs
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$938.01K	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	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`	$4.48K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$938.01K	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	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`	$4.48K	USD	Point-in-time
Interest	`InterestPaid`	$48.39K	USD	3 Qtrs
Interest	`InterestPaid`	$50.52K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs

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