10-K Filing

QXO, INC. CIK: 1236275 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001185185-18-000498`
Period End Date	20171231
Filing Date	20180326
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	ssnt-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 46 Cash Flow Statement 71 Stockholders Equity 16

Balance Sheet 80 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
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.19M	USD	Point-in-time
Accounts receivable, net of allowance of $375,000	`AccountsReceivableNetCurrent`	$2.34M	USD	Point-in-time
Accounts receivable, net of allowance of $375,000	`AccountsReceivableNetCurrent`	$2.50M	USD	Point-in-time
Unbilled services	`UnbilledReceivablesCurrent`	$463.56K	USD	Point-in-time
Unbilled services	`UnbilledReceivablesCurrent`	$428.21K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$403.91K	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
Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$567.53K	USD	Point-in-time
Issued	`CommonStockSharesIssued`	4.48M	shares	Point-in-time
Issued	`CommonStockSharesIssued`	4.49M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$466.20K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.64M	USD	Point-in-time
Outstanding	`CommonStockSharesOutstanding`	4.48M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.43M	USD	Point-in-time
Outstanding	`CommonStockSharesOutstanding`	4.49M	shares	Point-in-time
Goodwill	`Goodwill`	$401.00K	USD	Point-in-time
Goodwill	`Goodwill`	$401.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.36M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.41M	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$36.31K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$28.89K	USD	Point-in-time
Total assets	`Assets`	$10.41M	USD	Point-in-time
Total assets	`Assets`	$10.66M	USD	Point-in-time
Bank line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Bank line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.09M	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`	$1.07M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$15.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$16.28K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$177.47K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$97.10K	USD	Point-in-time
Contingent consideration current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$180.03K	USD	Point-in-time
Contingent consideration current portion	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$63.38K	USD	Point-in-time
Long term debt current portion	`LongTermDebtCurrent`	$257.85K	USD	Point-in-time
Long term debt current portion	`LongTermDebtCurrent`	$306.68K	USD	Point-in-time
Capital lease obligations current portion	`CapitalLeaseObligationsCurrent`	$94.71K	USD	Point-in-time
Capital lease obligations current portion	`CapitalLeaseObligationsCurrent`	$94.44K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.69M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.85M	USD	Point-in-time
Contingent consideration net of current portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$31.68K	USD	Point-in-time
Contingent consideration net of current portion	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$42.26K	USD	Point-in-time
Long term debt net of current portion	`LongTermDebtNoncurrent`	$486.47K	USD	Point-in-time
Long term debt net of current portion	`LongTermDebtNoncurrent`	$228.63K	USD	Point-in-time
Capital lease obligations net of current portion	`CapitalLeaseObligationsNoncurrent`	$60.13K	USD	Point-in-time
Capital lease obligations net of current portion	`CapitalLeaseObligationsNoncurrent`	$68.61K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.69M	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`	$46.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.21M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.97M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.41M	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`	$4.71M	USD	Annual
Software product, net	`SalesRevenueGoodsNet`	$5.28M	USD	Annual
Service, net	`SalesRevenueServicesNet`	$29.58M	USD	Annual
Service, net	`SalesRevenueServicesNet`	$29.41M	USD	Annual
Total revenues, net	`SalesRevenueNet`	$34.85M	USD	Annual
Total revenues, net	`SalesRevenueNet`	$34.12M	USD	Annual
Product	`CostOfGoodsSold`	$2.60M	USD	Annual
Product	`CostOfGoodsSold`	$2.49M	USD	Annual
Service	`CostOfServices`	$18.39M	USD	Annual
Service	`CostOfServices`	$18.91M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$20.99M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$21.39M	USD	Annual
Gross profit	`GrossProfit`	$13.87M	USD	Annual
Gross profit	`GrossProfit`	$12.73M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$4.36M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$4.85M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.37M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$7.35M	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$101.69K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$42.80K	USD	Annual
Depreciation and amortization	`OtherDepreciationAndAmortization`	$620.30K	USD	Annual
Depreciation and amortization	`OtherDepreciationAndAmortization`	$684.66K	USD	Annual
Total operating expenses	`OperatingExpenses`	$12.93M	USD	Annual
Total operating expenses	`OperatingExpenses`	$11.46M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$939.26K	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.27M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-31.70K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-64.68K	USD	Annual
Other income	`OtherIncome`	-	USD	Annual
Other income	`OtherIncome`	$10.00K	USD	Annual
Total other (expense) income	`NonoperatingIncomeExpense`	$-31.70K	USD	Annual
Total other (expense) income	`NonoperatingIncomeExpense`	$-54.68K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$907.56K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.21M	USD	Annual
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	$1.39M	USD	Annual
Income tax (provision) benefit	`IncomeTaxExpenseBenefit`	$-2.22M	USD	Annual
Net (loss) income	`ProfitLoss`	$-486.47K	USD	Annual
Net (loss) income	`ProfitLoss`	$3.44M	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.11	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.78	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.11	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.77	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.49M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.41M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.47M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.49M	shares	Annual

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-486.47K	USD	Annual
Net (loss) income	`ProfitLoss`	$3.44M	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.05M	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$2.21M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$232.32K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$255.36K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$452.34K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$364.93K	USD	Annual
Bad debt write-off	`ProvisionForDoubtfulAccounts`	$44.15K	USD	Annual
Bad debt write-off	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$42.80K	USD	Annual
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$34.27K	USD	Annual
Common stock issued in exchange for services	`IssuanceOfCommonStockForServicesOrClaims`	$47.50K	USD	Annual
Common stock issued in exchange for services	`IssuanceOfCommonStockForServicesOrClaims`	-	USD	Annual
Stock warrants in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$19.92K	USD	Annual
Stock warrants in exchange for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$24.32K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-120.99K	USD	Annual
Unbilled services	`IncreaseDecreaseInUnbilledReceivables`	$-277.98K	USD	Annual
Unbilled services	`IncreaseDecreaseInUnbilledReceivables`	$-35.35K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-112.53K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$72.82K	USD	Annual
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$7.42K	USD	Annual
Deposits and other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$227.97K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$272.23K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$247.92K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.00K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-72.82K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-80.37K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$750.00	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$716.00	USD	Annual
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$460.62K	USD	Annual
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-679.85K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.79M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.31M	USD	Annual
Software development costs	`PaymentsToDevelopSoftware`	$311.92K	USD	Annual
Software development costs	`PaymentsToDevelopSoftware`	$514.28K	USD	Annual
Acquisition of customer list	`PaymentsToAcquireIntangibleAssets`	$60.00K	USD	Point-in-time
Acquisition of customer list	`PaymentsToAcquireIntangibleAssets`	$60.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$241.23K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$184.80K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-815.51K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-496.72K	USD	Annual
Payment of cash dividend	`PaymentsOfDividends`	$89.82K	USD	Point-in-time
Payment of cash dividend	`PaymentsOfDividends`	$89.57K	USD	Point-in-time
Payment of cash dividend	`PaymentsOfDividends`	$179.63K	USD	Point-in-time
Payment of cash dividend	`PaymentsOfDividends`	$359.01K	USD	Annual
Payment of cash dividend	`PaymentsOfDividends`	$264.70K	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$100.00	USD	Annual
Proceeds from issuance of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Repayment of contingent consideration	`OtherPaymentsToAcquireBusinesses`	$106.08K	USD	Annual
Repayment of contingent consideration	`OtherPaymentsToAcquireBusinesses`	$188.93K	USD	Annual
Repayments of long term debt	`RepaymentsOfLongTermDebt`	$300.03K	USD	Annual
Repayments of long term debt	`RepaymentsOfLongTermDebt`	$306.68K	USD	Annual
Principal payment under capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$116.14K	USD	Annual
Principal payment under capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$107.25K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-869.71K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-879.02K	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$614.30K	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$427.74K	USD	Annual
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.19M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.19M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	$335.40K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$100.89K	USD	Annual
Interest	`InterestPaid`	$30.95K	USD	Annual
Interest	`InterestPaid`	$64.46K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.23M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.97M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	Point-in-time
Stock warrants in exchange for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$19.92K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$47.50K	USD	Annual
Convertible note conversion into common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$200.00K	USD	Annual
Issuance of stock, net of fees	`StockIssuedDuringPeriodValueNewIssues`	$100.00	USD	Annual
Cash dividend	`DividendsCash`	$-264.70K	USD	Annual
Cash dividend	`DividendsCash`	$-359.01K	USD	Annual
Share-Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$42.80K	USD	Annual
Share-Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$34.27K	USD	Annual
Net income (loss)	`ProfitLoss`	$-486.47K	USD	Annual
Net income (loss)	`ProfitLoss`	$3.44M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.23M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.97M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	Point-in-time

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