10-K Filing

QXO, INC. CIK: 1236275 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001185185-24-000237`
Period End Date	20231231
Filing Date	20240314
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	silversun20231231_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 38 Cash Flow Statement 66 Stockholders Equity 14

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$490.31K	USD	Point-in-time
Accounts receivable, allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$510.21K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.01M	USD	Point-in-time
Accounts receivable, net of allowance of $510,212 and $490,311	`AccountsReceivableNetCurrent`	$2.97M	USD	Point-in-time
Accounts receivable, net of allowance of $510,212 and $490,311	`AccountsReceivableNetCurrent`	$2.23M	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
Unbilled services	`UnbilledReceivablesCurrent`	$194.41K	USD	Point-in-time
Unbilled services	`UnbilledReceivablesCurrent`	$367.17K	USD	Point-in-time
Par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Deferred charges	`DeferredCostsCurrent`	$1.52M	USD	Point-in-time
Deferred charges	`DeferredCostsCurrent`	$735.91K	USD	Point-in-time
Par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.57M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.75M	USD	Point-in-time
Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$11.80M	USD	Point-in-time
Issued	`CommonStockSharesIssued`	5.32M	shares	Point-in-time
Issued	`CommonStockSharesIssued`	5.26M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$13.70M	USD	Point-in-time
Outstanding	`CommonStockSharesOutstanding`	5.32M	shares	Point-in-time
Outstanding	`CommonStockSharesOutstanding`	5.26M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$711.31K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$503.35K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$328.56K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$521.87K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.27M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.92M	USD	Point-in-time
Goodwill	`Goodwill`	$1.01M	USD	Point-in-time
Goodwill	`Goodwill`	$1.14M	USD	Point-in-time
Goodwill	`Goodwill`	$1.14M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$1.44M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$1.11M	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$187.55K	USD	Point-in-time
Deposits and other assets	`OtherAssetsNoncurrent`	$171.45K	USD	Point-in-time
Total assets	`Assets`	$20.50M	USD	Point-in-time
Total assets	`Assets`	$21.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.56M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.43M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$23.76K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$24.51K	USD	Point-in-time
Long term debt current portion	`LongTermDebtCurrent`	$701.75K	USD	Point-in-time
Long term debt current portion	`LongTermDebtCurrent`	$680.15K	USD	Point-in-time
Long term debt related party - current portion	`NotesPayableCurrent`	$103.33K	USD	Point-in-time
Long term debt related party - current portion	`NotesPayableCurrent`	-	USD	Point-in-time
Finance lease obligations current portion	`FinanceLeaseLiabilityCurrent`	$154.34K	USD	Point-in-time
Finance lease obligations current portion	`FinanceLeaseLiabilityCurrent`	$214.99K	USD	Point-in-time
Operating lease liabilities current portion	`OperatingLeaseLiabilityCurrent`	$262.73K	USD	Point-in-time
Operating lease liabilities current portion	`OperatingLeaseLiabilityCurrent`	$268.35K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.16M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.75M	USD	Point-in-time
Long term debt - net of current portion	`LongTermDebtNoncurrent`	$671.01K	USD	Point-in-time
Long term debt - net of current portion	`LongTermDebtNoncurrent`	$994.27K	USD	Point-in-time
Finance lease obligations - net of current portion	`FinanceLeaseLiabilityNoncurrent`	$401.45K	USD	Point-in-time
Finance lease obligations - net of current portion	`FinanceLeaseLiabilityNoncurrent`	$247.12K	USD	Point-in-time
Operating lease liabilities - net of current portion	`OperatingLeaseLiabilityNoncurrent`	$60.22K	USD	Point-in-time
Operating lease liabilities - net of current portion	`OperatingLeaseLiabilityNoncurrent`	$259.13K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.89M	USD	Point-in-time
Commitments and Contingencies (see Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (see Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, value	`CommonStockValue`	$53.00	USD	Point-in-time
Common stock, value	`CommonStockValue`	$53.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-876.59K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.95M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$9.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$7.47M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$20.50M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$21.44M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$44.99M	USD	Annual
Revenues	`Revenues`	$54.52M	USD	Annual
Cost of revenues	`CostOfRevenue`	$27.02M	USD	Annual
Cost of revenues	`CostOfRevenue`	$32.90M	USD	Annual
Gross profit	`GrossProfit`	$17.96M	USD	Annual
Gross profit	`GrossProfit`	$21.61M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$8.85M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$7.75M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$9.47M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$10.22M	USD	Annual
Share-based compensation expenses	`ShareBasedCompensation`	$41.50K	USD	Annual
Share-based compensation expenses	`ShareBasedCompensation`	$180.26K	USD	Annual
Depreciation and amortization expenses	`OtherDepreciationAndAmortization`	$948.97K	USD	Annual
Depreciation and amortization expenses	`OtherDepreciationAndAmortization`	$828.16K	USD	Annual
Total selling, general and administrative expenses	`OperatingExpenses`	$19.94M	USD	Annual
Total selling, general and administrative expenses	`OperatingExpenses`	$18.35M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$1.67M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-385.38K	USD	Annual
Interest expense, net	`InterestExpense`	$55.67K	USD	Annual
Interest expense, net	`InterestExpense`	$89.02K	USD	Annual
Deal costs	`OtherNonoperatingExpense`	$2.99M	USD	Annual
Deal costs	`OtherNonoperatingExpense`	-	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-3.04M	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-89.02K	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.37M	USD	Annual
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-474.40K	USD	Annual
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-192.18K	USD	Annual
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-297.42K	USD	Annual
Net loss	`NetIncomeLoss`	$-282.22K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.07M	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.05	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.20	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.20	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.05	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.17M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.26M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.26M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.17M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-282.22K	USD	Annual
Net loss	`ProfitLoss`	$-1.07M	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$115.11K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$337.84K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$386.85K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$328.89K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$732.55K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$671.50K	USD	Annual
Amortization of right of use assets	`FinanceLeaseRightOfUseAssetAmortization`	$126.34K	USD	Annual
Amortization of right of use assets	`FinanceLeaseRightOfUseAssetAmortization`	$636.43K	USD	Annual
Bad debt provision	`ProvisionForDoubtfulAccounts`	$160.00K	USD	Annual
Bad debt provision	`ProvisionForDoubtfulAccounts`	$19.90K	USD	Annual
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$41.50K	USD	Annual
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$180.26K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$755.82K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$466.10K	USD	Annual
Unbilled services	`IncreaseDecreaseInContractWithCustomerAsset`	$-172.76K	USD	Annual
Unbilled services	`IncreaseDecreaseInContractWithCustomerAsset`	$82.95K	USD	Annual
Deferred charges	`IncreaseDecreaseInDeferredCharges`	$1.22M	USD	Annual
Deferred charges	`IncreaseDecreaseInDeferredCharges`	$-780.99K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$180.23K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$316.13K	USD	Annual
Deposits and other assets	`IncreaseDecreaseInDepositOtherAssets`	$-16.11K	USD	Annual
Deposits and other assets	`IncreaseDecreaseInDepositOtherAssets`	$-3.25K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.29M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.23M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$689.55K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$222.22K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-69.61K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-5.03K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$750.00	USD	Annual
Deferred revenues	`IncreaseDecreaseInContractWithCustomerLiability`	$-617.52K	USD	Annual
Deferred revenues	`IncreaseDecreaseInContractWithCustomerLiability`	$1.21M	USD	Annual
Operating lease obligations	`IncreaseDecreaseInOperatingLeaseLiability`	$-636.43K	USD	Annual
Operating lease obligations	`IncreaseDecreaseInOperatingLeaseLiability`	$-126.34K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$583.80K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.04M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.93K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.74K	USD	Annual
Acquisition of assets	`PaymentsToAcquireBusinessesGross`	$150.00K	USD	Annual
Acquisition of assets	`PaymentsToAcquireBusinessesGross`	$278.49K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-188.74K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-399.42K	USD	Annual
Payment of cash dividend	`PaymentsOfDividends`	-	USD	Annual
Payment of cash dividend	`PaymentsOfDividends`	$1.05M	USD	Annual
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$680.14K	USD	Annual
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$316.14K	USD	Annual
Payment of long-term debt related party	`RepaymentsOfRelatedPartyDebt`	$108.31K	USD	Annual
Payment of long-term debt related party	`RepaymentsOfRelatedPartyDebt`	$103.33K	USD	Annual
Payment of finance lease obligations	`FinanceLeasePrincipalPayments`	$230.69K	USD	Annual
Payment of finance lease obligations	`FinanceLeasePrincipalPayments`	$214.99K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.05M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-655.13K	USD	Annual
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.19M	USD	Annual
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.87M	USD	Annual
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.81M	USD	Point-in-time
Cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.14M	USD	Point-in-time
Cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.81M	USD	Point-in-time
Cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.14M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	$94.14K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$300.73K	USD	Annual
Interest	`InterestPaidNet`	$40.19K	USD	Annual
Interest	`InterestPaidNet`	$57.02K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$9.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.36M	USD	Point-in-time
Dividend payment	`DividendsCash`	$1.05M	USD	Annual
Stock compensation issued for outside services	`StockIssuedDuringPeriodValueIssuedForServices`	$297.60K	USD	Point-in-time
Stock compensation issued for outside services	`StockIssuedDuringPeriodValueIssuedForServices`	$297.60K	USD	Annual
Stock compensation issued for outside services (in Shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	120,000.00	shares	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$180.26K	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$41.50K	USD	Annual
Net loss	`NetIncomeLoss`	$-282.22K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.07M	USD	Annual
Balance	`StockholdersEquity`	$9.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.36M	USD	Point-in-time

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