10-K Filing

QXO, INC. CIK: 1236275 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001185185-17-000646`
Period End Date	20161231
Filing Date	20170324
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	ssnt-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 46 Cash Flow Statement 75 Stockholders Equity 18

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$375.00K	USD	Point-in-time
Accounts receivable, allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$375.00K	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.19M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance of $375,000	`AccountsReceivableNetCurrent`	$2.50M	USD	Point-in-time
Accounts receivable, net of allowance of $375,000	`AccountsReceivableNetCurrent`	$2.48M	USD	Point-in-time
Unbilled services	`UnbilledReceivablesCurrent`	$463.56K	USD	Point-in-time
Unbilled services	`UnbilledReceivablesCurrent`	$741.54K	USD	Point-in-time
Par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$331.09K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$443.62K	USD	Point-in-time
Deferred tax assets - current	`DeferredTaxAssetsLiabilitiesNetCurrent`	$355.00K	USD	Point-in-time
Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Deferred tax assets - current	`DeferredTaxAssetsLiabilitiesNetCurrent`	$38.00K	USD	Point-in-time
Issued	`CommonStockSharesIssued`	4.41M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.27M	USD	Point-in-time
Issued	`CommonStockSharesIssued`	4.48M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.89M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$466.20K	USD	Point-in-time
Outstanding	`CommonStockSharesOutstanding`	4.48M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$425.35K	USD	Point-in-time
Outstanding	`CommonStockSharesOutstanding`	4.41M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.43M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.57M	USD	Point-in-time
Goodwill	`Goodwill`	$401.00K	USD	Point-in-time
Goodwill	`Goodwill`	$401.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.06M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$162.00K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$28.89K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$29.89K	USD	Point-in-time
Total assets	`Assets`	$8.48M	USD	Point-in-time
Total assets	`Assets`	$10.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.82M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$823.59K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$821.59K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$15.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$14.82K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$177.47K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$250.28K	USD	Point-in-time
Contingent consideration current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$128.43K	USD	Point-in-time
Contingent consideration current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$180.03K	USD	Point-in-time
Long term debt current portion	`LongTermDebtCurrent`	$306.68K	USD	Point-in-time
Long term debt current portion	`LongTermDebtCurrent`	$300.03K	USD	Point-in-time
Capital lease obligations current portion	`CapitalLeaseObligationsCurrent`	$94.71K	USD	Point-in-time
Capital lease obligations current portion	`CapitalLeaseObligationsCurrent`	$90.17K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.69M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.57M	USD	Point-in-time
Contingent consideration net of current portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$31.68K	USD	Point-in-time
Contingent consideration net of current portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$272.21K	USD	Point-in-time
Long term debt net of current portion	`LongTermDebtNoncurrent`	$793.15K	USD	Point-in-time
Long term debt net of current portion	`LongTermDebtNoncurrent`	$486.47K	USD	Point-in-time
Capital lease obligations net of current portion	`CapitalLeaseObligationsNoncurrent`	$92.44K	USD	Point-in-time
Capital lease obligations net of current portion	`CapitalLeaseObligationsNoncurrent`	$60.13K	USD	Point-in-time
Convertible note payable	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Convertible note payable	`ConvertibleLongTermNotesPayable`	$200.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.93M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, value	`PreferredStockValue`	-	USD	Point-in-time
Common stock, value	`CommonStockValue`	$46.00	USD	Point-in-time
Common stock, value	`CommonStockValue`	$45.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$13.61K	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.97M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.48M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.66M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Software product, net	`SalesRevenueGoodsNet`	$4.23M	USD	Annual
Software product, net	`SalesRevenueGoodsNet`	$4.71M	USD	Annual
Service, net	`SalesRevenueServicesNet`	$29.41M	USD	Annual
Service, net	`SalesRevenueServicesNet`	$23.41M	USD	Annual
Total revenues, net	`SalesRevenueNet`	$34.12M	USD	Annual
Total revenues, net	`SalesRevenueNet`	$27.64M	USD	Annual
Product	`CostOfGoodsSold`	$2.49M	USD	Annual
Product	`CostOfGoodsSold`	$2.08M	USD	Annual
Service	`CostOfServices`	$18.91M	USD	Annual
Service	`CostOfServices`	$14.71M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$21.39M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$16.80M	USD	Annual
Gross profit	`GrossProfit`	$12.73M	USD	Annual
Gross profit	`GrossProfit`	$10.84M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$4.30M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$4.36M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.64M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.37M	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$42.80K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$60.86K	USD	Annual
Depreciation and amortization	`OtherDepreciationAndAmortization`	$485.09K	USD	Annual
Depreciation and amortization	`OtherDepreciationAndAmortization`	$684.66K	USD	Annual
Total operating expenses	`OperatingExpenses`	$11.46M	USD	Annual
Total operating expenses	`OperatingExpenses`	$10.49M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$357.79K	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.27M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-57.48K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-64.68K	USD	Annual
Other income	`OtherIncome`	$10.00K	USD	Annual
Other income	`OtherIncome`	$134.00K	USD	Annual
Total other (expense) income	`NonoperatingIncomeExpense`	$76.52K	USD	Annual
Total other (expense) income	`NonoperatingIncomeExpense`	$-54.68K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$434.31K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.21M	USD	Annual
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$-2.22M	USD	Annual
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$60.00K	USD	Annual
Net income	`ProfitLoss`	$374.31K	USD	Annual
Net income	`ProfitLoss`	$3.44M	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.78	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.77	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.09	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.30M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.41M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.32M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.47M	shares	Annual

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$374.31K	USD	Annual
Net income	`ProfitLoss`	$3.44M	USD	Annual
Gain on sale of Beerrun	`GainLossOnSaleOfBusiness`	$134.00K	USD	Annual
Gain on sale of Beerrun	`GainLossOnSaleOfBusiness`	-	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$2.21M	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$162.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$232.32K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$165.60K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$452.34K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$319.50K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$250.00K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$40.86K	USD	Annual
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$42.80K	USD	Annual
Common stock issued in exchange for services	`IssuanceOfCommonStockForServicesOrClaims`	$36.30K	USD	Annual
Common stock issued in exchange for services	`IssuanceOfCommonStockForServicesOrClaims`	-	USD	Annual
Stock warrants in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Stock warrants in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$20.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$24.32K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$269.66K	USD	Annual
Unbilled services	`IncreaseDecreaseInUnbilledReceivables`	$501.17K	USD	Annual
Unbilled services	`IncreaseDecreaseInUnbilledReceivables`	$-277.98K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-112.53K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$135.52K	USD	Annual
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.00K	USD	Annual
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-836.00	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$227.97K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-175.29K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$27.43K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.00K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-72.82K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$174.28K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$716.00	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$102.00	USD	Annual
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-679.85K	USD	Annual
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$95.10K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$126.66K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.79M	USD	Annual
Proceeds from sale of Beerrun	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$134.00K	USD	Annual
Proceeds from sale of Beerrun	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	-	USD	Annual
Software development costs	`PaymentsToDevelopSoftware`	$311.92K	USD	Annual
Software development costs	`PaymentsToDevelopSoftware`	-	USD	Annual
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$709.89K	USD	Annual
Acquisition of business	`PaymentsToAcquireBusinessesGross`	-	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$67.48K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$184.80K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-496.72K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-643.38K	USD	Annual
Payment of cash dividend	`PaymentsOfDividends`	-	USD	Annual
Payment of cash dividend	`PaymentsOfDividends`	$264.70K	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$100.00	USD	Annual
Proceeds from issuance of common stock and warrants, net of fees	`ProceedsFromIssuanceOrSaleOfEquity`	$812.02K	USD	Point-in-time
Proceeds from issuance of common stock and warrants, net of fees	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	Annual
Proceeds from issuance of common stock and warrants, net of fees	`ProceedsFromIssuanceOrSaleOfEquity`	$812.02K	USD	Annual
Repayment of contingent consideration	`OtherPaymentsToAcquireBusinesses`	$188.93K	USD	Annual
Repayment of contingent consideration	`OtherPaymentsToAcquireBusinesses`	$49.98K	USD	Annual
Repayments of long term debt	`RepaymentsOfLongTermDebt`	$300.03K	USD	Annual
Repayments of long term debt	`RepaymentsOfLongTermDebt`	$274.32K	USD	Annual
Principal payment under capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$86.03K	USD	Annual
Principal payment under capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$116.14K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-869.71K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$401.69K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$427.74K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-115.02K	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.19M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.19M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	$100.89K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$87.73K	USD	Annual
Interest	`InterestPaid`	$64.46K	USD	Annual
Interest	`InterestPaid`	$60.58K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$13.61K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.97M	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$36.30K	USD	Annual
Issuance of common stock for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$259.23K	USD	Annual
Issuance of stock, net of fees	`StockIssuedDuringPeriodValueNewIssues`	$100.00	USD	Annual
Issuance of stock, net of fees	`StockIssuedDuringPeriodValueNewIssues`	$812.02K	USD	Annual
Issuance of stock, net of fees (in Shares)	`StockIssuedDuringPeriodSharesNewIssues`	363,490.00	shares	Point-in-time
Convertible note conversion into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$200.00K	USD	Annual
Cash dividend	`DividendsCash`	$-264.70K	USD	Annual
Share-Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$42.80K	USD	Annual
Share-Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$40.86K	USD	Annual
Stock warrants in exchange for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$20.00K	USD	Annual
Net income (loss)	`ProfitLoss`	$374.31K	USD	Annual
Net income (loss)	`ProfitLoss`	$3.44M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$13.61K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.97M	USD	Point-in-time

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