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Document and Entity Information - USD ($) | 12 Months Ended | ||
---|---|---|---|
Dec. 31, 2018 | Mar. 05, 2019 | Jun. 30, 2018 | |
Document And Entity Information | |||
Entity Registrant Name | Vertex Energy Inc. | ||
Entity Central Index Key | 0000890447 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 26,404,997 | ||
Entity Common Stock, Shares Outstanding | 40,174,821 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2018 |
Please wait while we load the requested 10-K report or click the link below:
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Vertex Energy Inc..
Vertex Energy Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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The decrease in loss was mainly due to the gain on change in derivative warrant liability offset by the loss from operations as discussed above.
Gross profit increased 38% to $29,406,622 for the year ended December 31, 2018 from $21,272,603 for the year ended December 31, 2017, primarily due to improvements in finished product values during 2018, as well as continued changes in our business, specifically around our street collections of used motor oil where we continue to grow our collections of used motor oil and filters, and improvement in commodity prices during 2018.
We had selling, general and administrative expenses of $5,258,572 for the three months ended December 31, 2018, compared to $5,405,047 from the prior year's period, a decrease of $146,475 or 3% from the prior period, due to recovery of bad debts previously reserved in our allowance for doubtful accounts.
Overall gross profit decreased 38% and our margin per barrel decreased approximately 19% for the three months ended December 31, 2018, compared to the same period in 2017.
Through these relationships, we have historically been able to achieve volume discounts in the procurement of our feedstock, thereby increasing the margins of our segments' operations.
For example, if the price...Read more
Similarly, if the price of...Read more
During 2017, the financing activities...Read more
The primary reason for the...Read more
As volumes and production increase...Read more
Total volume decreased 24% and...Read more
In July 2015, the FASB...Read more
Each of our segments' gross...Read more
This increase was a result...Read more
Effective February 1, 2017, we,...Read more
Our per barrel margin in...Read more
Effective February 1, 2017, we,...Read more
Total volume company-wide was flat...Read more
We had selling, general and...Read more
The Company estimates the fair...Read more
Overall volume for the Refining...Read more
Revenue is recognized when our...Read more
In July 2018, FASB issued...Read more
The amendment provides improvements that...Read more
In August 2018, FASB issued...Read more
The receptiveness of the capital...Read more
We also believe that as...Read more
We had a net loss...Read more
ASU No. 2016-02 is effective...Read more
We intend to broaden our...Read more
Borrowings under a revolving credit...Read more
Volume for our Black Oil...Read more
Our gasoline blendstock volumes were...Read more
Gross profit increased for the...Read more
Accordingly, these derivative contracts are...Read more
Vertex acts as Penthol?s exclusive...Read more
Amounts borrowed under the Revolving...Read more
The standard is effective for...Read more
The Principal elements of our...Read more
We intend to expand our...Read more
We had total liabilities of...Read more
We plan to grow market...Read more
On average, prices we received...Read more
We attempt to mitigate much...Read more
Over the long term, our...Read more
Our pygas volumes increased 25%...Read more
As noted above the revenue...Read more
Pursuant to the EBC Credit...Read more
This process relies upon inputs...Read more
We also must maintain relationships...Read more
We plan to increase the...Read more
We intend to increase the...Read more
Our gasoline blendstock volumes decreased...Read more
The resulting operating cash flow...Read more
The overall increase in revenues...Read more
The increase in loss was...Read more
The main reason for the...Read more
We had a net loss...Read more
Our gross profit is to...Read more
Our gross profit is to...Read more
The EBC Credit Agreement also...Read more
The increase in working capital...Read more
We believe that the expansion...Read more
Additionally, for the near term,...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Vertex Energy Inc. provided additional information to their SEC Filing as exhibits
Ticker: VTNR
CIK: 890447
Form Type: 10-K Annual Report
Accession Number: 0001628280-19-002489
Submitted to the SEC: Tue Mar 05 2019 12:43:50 PM EST
Accepted by the SEC: Wed Mar 06 2019
Period: Monday, December 31, 2018
Industry: Petroleum Refining