Vertex energy inc. (VTNR)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities
Net income (loss)

1,973

-5,485

-6,901

-8,136

-4,844

-1,983

-2,125

-2,680

-7,158

-8,138

-10,338

-7,466

-5,735

-3,950

0

0

0

-

-

-

-23,719

-5,871

8,615

12,874

8,108

8,311

0

0

0

-

-

-

-

-

-

-

-

Net loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,639

4,561

6,131

5,753

0

0

0

Adjustments to reconcile net loss to cash provided by (used in) operating activities
Stock based compensation expense

663

642

638

644

656

659

640

638

603

606

595

569

552

527

511

503

460

423

463

407

369

332

225

182

178

175

177

188

182

178

169

162

149

138

0

0

0

Depreciation and amortization

7,077

7,180

7,090

7,081

7,033

6,991

6,934

6,825

6,737

6,643

6,512

6,325

6,283

6,277

6,628

6,714

6,673

6,636

6,012

5,595

5,102

4,277

3,686

3,052

2,520

2,320

2,146

1,698

1,203

711

221

164

164

161

0

0

0

Loss on sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of assets

0

-

0

0

0

-

65

91

56

0

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable- related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2

10

3

8

-2

0

0

0

Bad debt and reduction in allowance for bad debt

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

654

5,053

4,663

4,663

2,013

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

(Decrease) increase in fair value of derivative warrant liability

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) Loss on commodity derivative contracts

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reduction in allowance for bad debt

-

-

-

-

-

299

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on commodity derivative contracts

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in future contracts

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash settlements on commodity derivatives

0

-

-

-

0

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash settlements on commodity derivatives

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in fair value of derivative liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and deferred costs

478

573

540

580

584

584

617

577

540

715

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment-in-kind interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Rent paid by common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

244

244

244

244

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,701

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,948

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred federal income tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,306

5,306

5,306

5,306

0

-1,800

-1,955

-1,934

-1,944

63

-1,503

-1,540

-1,432

-3,569

-1,848

-1,832

-1,930

0

0

0

Decrease in fair value of derivative liability

-

-

-

-

-

-763

2,681

-859

-768

-2,120

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities
Accounts receivable

-3,983

2,652

-4,247

-1,332

2,283

-2,143

5,482

2,968

4,219

336

2,519

2,258

3,339

4,636

11

-3,979

-4,985

-1,929

-12,324

143

0

-714

12,404

4,775

2,948

3,468

1,740

-854

659

-128

-1,016

-1,665

-4,047

-3,953

0

0

0

Inventory

-1,835

-1,543

-767

-2,709

-1,841

1,786

2,056

3,859

3,336

1,910

882

793

175

809

-175

-5,315

-6,960

-9,072

-16,934

-9,104

-2,001

-1,891

6,601

2,885

1,646

2,670

1,872

3,108

36

-551

2,271

-555

-1,133

-2,506

0

0

0

Prepaid expenses

369

257

358

-664

-665

597

109

299

465

-897

-214

-402

405

1,250

557

-606

-841

-48

-412

-2,377

-351

12

1,841

3,243

1,273

571

302

470

246

247

-16

-216

110

-51

0

0

0

Costs in excess of billings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-779

0

0

0

779

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-4,134

-1,171

-87

-1,600

1,091

1,493

692

4,678

3,570

487

3,377

1,155

554

-1,893

-4,622

-12,564

-12,972

-8,539

-10,565

-2,849

6,725

7,255

9,667

10,016

3,641

4,220

2,814

3,205

149

304

4

1,149

2,634

1,870

0

0

0

Accrued expenses

-380

2,480

957

483

248

42

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-323

108

-292

-1,864

-139

-32

524

2,910

463

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

309

223

-77

-29

126

176

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable-related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-620

-175

-220

178

213

0

0

0

Other deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-235

-1,080

0

679

235

0

0

0

Net cash provided by (used in) operating activities

7,565

2,473

1,908

2,725

4,293

5,376

-165

1,010

-5,079

-2,963

-3,139

-3,279

-6,059

-14,145

-18,603

-17,010

-17,318

-12,970

2,246

-12,762

-7,453

-1,525

-12,495

6,496

4,665

4,392

6,361

916

2,490

3,000

2,331

1,535

3,045

-70

0

0

0

Cash flows from investing activities
Internally developed software

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

218

230

227

241

0

0

0

Refund of asset acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-675

0

0

0

-

-

-

-

-

-

-

-

Acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

539

762

2,081

2,047

2,013

0

0

0

-

-

-

-

Refund of asset acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Purchase of fixed assets

3,036

3,369

3,592

3,348

2,783

2,499

2,097

2,705

1,515

2,125

42

308

1,512

1,628

4,080

2,925

2,715

1,811

2,873

4,501

5,472

5,940

5,159

4,228

2,835

2,603

2,728

2,138

1,680

1,134

48

37

65

63

0

0

0

Proceeds from sale of Bango assets

-

-

-

-

-

-

-

-

-

-

-

-

-

29,788

29,783

29,788

29,783

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Costs related to sale of Bango assets

-

-

-

-

-

-

-

-

-

-

-

-

-

10,792

10,792

10,792

10,792

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Establish escrow account - restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of fixed assets

222

232

79

1

-65

0

36

189

340

327

297

223

62

20

113

108

113

92

0

4

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-3,352

-3,626

-3,892

-3,347

-3,118

-2,768

-2,330

-2,978

-2,853

-3,797

-4,077

-390

-271

17,387

20,179

16,416

16,128

-479

-8,551

-10,496

-39,732

-40,205

-35,794

-33,464

-3,340

-2,467

-2,606

-3,361

-2,993

-3,148

-1,585

-267

-292

-304

0

0

0

Cash flows from financing activities
Payments on finance leases

195

165

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions received from redeemable noncontrolling interest

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Line of credit (payments) proceeds, net

-6,370

-568

-612

1,305

2,131

-746

2,261

938

3,332

1,865

1,865

646

356

981

0

0

0

-

-

-

-

-

-

-

-

-6,750

0

0

0

-

-

-

-

-

-

-

-

Payments on finance leases

-

-

-

-

-

77

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of common stock options and warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

370

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Series C Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

4,000

4,000

4,000

4,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance costs of Series B and B-1 Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

Payment of debt issuance costs

-

-

-

-

-

-

-

-

-

1,718

1,718

1,718

1,656

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from note payable

2,621

2,809

2,809

2,545

2,545

4,024

5,024

4,475

7,078

17,570

16,677

17,009

14,444

7,650

7,544

7,710

7,671

2,305

2,242

799

40,957

41,309

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Payments on note payable

11,737

4,660

4,581

3,939

4,026

4,063

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Proceeds from revolving note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

0

0

-

-

-

-

Payments on revolving note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments made on notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of common stock warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

382

336

306

0

0

0

Net cash provided by financing activities

10,406

2,503

2,547

-498

549

-863

3,210

1,720

6,472

4,660

3,085

1,662

6,061

-801

-339

-1,150

-708

8,198

9,094

9,324

45,850

45,068

48,989

46,322

2,374

-54

-4,374

-1,435

-2,477

280

-912

382

336

306

0

0

0

Net change in cash, cash equivalents and restricted cash

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash, cash equivalents and restricted cash

-

-

-

-

-

-

-

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,743

-1,898

-5,251

2,790

-13,934

-1,335

3,338

698

19,354

3,699

1,870

-619

-3,880

-2,979

132

-166

1,651

3,088

-69

0

0

0

SUPPLEMENTAL INFORMATION
Cash paid for interest

2,255

2,505

2,575

2,817

2,847

2,722

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

1,429

1,474

1,688

2,158

2,498

3,084

3,563

3,872

3,974

3,513

2,636

1,672

929

395

396

451

328

205

128

3

6

48

80

0

0

0

Cash paid for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

136

139

27

13

23

57

71

105

107

0

0

0

Cash paid for taxes

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NON-CASH INVESTING AND FINANCING TRANSACTIONS
Conversion of Series B1 Preferred Stock into common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

0

3

1

2

2

0

1

0

0

0

0

0

Accretion of discount on Series B and B1 Preferred Stock

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Initial adjustment of carrying amount redeemable noncontrolling interest

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Return of common shares for sale escrow

-

-

-

-

-

-

-

-

-

1

1

1

1

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of redeemable noncontrolling interest to redemption value

13,245

2,279

1,849

-104

-642

0

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Return of common shares for sale escrow

-

-

-

-

-

-

-

-

-

1

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series B1 Preferred Stock
Conversion of Series B1 Preferred Stock into common stock

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-