OTC Bulletin Board

S & P Company Insight for VERTEX ENERGY, INC
 
 Profile

 
Business Summary: Vertex Energy, Inc. provides a range of services designed to aggregate, process, and recycle industrial and commercial waste streams. The company operates in two divisions: Black Oil, and Refining and Marketing.
 
Address
  1331 Gemini Street, Suite 250
  Houston , TX 77058
  Phone: 866-660-8156
  Fax: 609-387-2666
  Website: http://www.vertexenergy.com
Auditor
  Stonefield Josephson, Inc.
Transfer Agent
  Continental Stock Transfer & Trust Co.
Employees:  12
ShareHolders:  730
Founded:  1985
Domicile:  Nevada
 
  
 
 Background

 
Vertex Energy, Inc. provides a range of services designed to aggregate, process, and recycle industrial and commercial waste streams. The company operates in two divisions: Black Oil, and Refining and Marketing. The Black Oil division recycles used motor oil by purchasing it from a network of local and regional collectors, and selling it to third-party re-refining facilities, fuel oil blenders, and burners of black oil. The Refining and Marketing division recycles hydrocarbon streams by purchasing and aggregating these streams from collectors and generators, managing the delivery of these streams to a third-party facility for processing into end-products, and managing the sale of end-products. The company offers its services in 13 states of the United States with a primary focus on the Gulf Coast region. Vertex Energy, Inc. is based in Houston, Texas.
History:  INCORPORATED in Nevada May 14, 2008. On Apr. 16, 2009, World Waste Technologies, Inc., a California corporation, merged into Vertex Merger Sub, LLC, a wholly owned subsidiary of the company. In connection with the merger, each outstanding Common share of World Waste was cancelled and exchanged for 0.10 Common share of the company; each outstanding share of World Waste Series A Preferred stock was cancelled and exchanged for 0.4062 share of the company's Series A Preferred stock; and each outstanding share of World Waste Series B Preferred stock was cancelled and exchanged for 11.651 shares of the company's Series A Preferred stock. World Waste was incorporated in California June 21, 1985, as Voice Powered Technologies International, Inc. and changed its name to World Waste Technologies, Inc. on Aug. 24, 2004.
 
Subsidiaries:
Vertex Merger Sub, LLC
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2009  84
 
 
  
 
 Management

 

Management
OfficersPosition
 Benjamin P. CowartChairman, President & Chief Executive Officer
 Christopher  CarlsonSecretary & Chief Financial Officer
 Matthew  LiebChief Operating Officer
 Ingram  LeeTreasurer

Directors
 Dan  Borgen
 Benjamin P. Cowart
 Ingram  Lee
 David L. Phillips
 John  Pimentel
 Christopher  Stratton
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
REVENUES
Revenues38,555,98062,170,280
Revenues-related Parties147,8713,043,019
Total Revenues38,703,85065,213,300
EXPENSES
Cost of Revenues(35,974,300)(63,333,140)
Selling, General and Administrative Expenses(3,089,539)(2,248,443)
Merger Related Expenses(249,397)-
Earnings before Taxes(609,384)(368,290)
TAXES AND OTHER EXPENSES
Net Income (Loss)(609,384)(368,290)
SUPPLEMENTARY INFO
Gross Profit/loss2,729,552.001,880,153.00
Operating Income (Loss)(609,384.00)(368,290.00)
Basic EPS - Continuing Operations(0.08)(0.07)
 
Balance Sheet
  20092008
CURRENT ASSETS
Cash and Cash Equivalents514,13617,616
Accounts Receivable, Related Parties-1,817,228
Accounts Receivable, Net2,188,423817,232
Due from Partnerships-405,219
Inventory2,978,8831,232,904
Prepaid Expenses115,541270,522
Total Current Assets5,796,9834,560,721
NON CURRENT ASSETS
Fixed Assets-net75,80711,022
Noncurrent Assets Licensing Agreement, Net1,675,197-
Total Assets7,547,9874,571,743
CURRENT LIABILITIES
Accounts Payable5,052,5581,836,340
Accounts Payable. Related Party527,7312,676,650
Due to Related Party841,855-
Total Current Liabilities6,422,1444,512,990
NON CURRENT LIABILITIES
Preferred Stock Convertible4,756-
SHAREHOLDERS' EQUITY
Common Stock - Par Value8,2545,502
Additional Paid in Capital2,090,507421,541
Accumulated Deficit(977,674)(368,290)
Total Shareholders Equity1,125,84358,753
Total Liabilities & Shareholders Equity7,547,9874,571,743
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2010   113,270,000
  2009   16,560,000
  2009   25,270,000
  2009   312,040,000
  2009   413,550,000
  2009   Full Year 38,700,000
  2008   116,230,000
  2008   217,800,000
  2008   324,400,000
  2008   48,350,000
  2008   Full Year 65,210,000
  2007   18,580,000
  2007   29,280,000
  2007   311,370,000
  2007   413,500,000
  2007   Full Year 42,020,000
  2006   Full Year 36,510,000
  2005   Full Year 26,890,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1270,000
  2009   2(710,000)
  2009   3710,000
  2009   410,000
  2009   Full Year (610,000)
  2008   Full Year (370,000)
  2007   Full Year 2,230,000
  2006   Full Year 500,000
  2005   Full Year 60,000
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1.02
  2009   1(.10)
  2009   2(.09)
  2009   3.05
  2009   4Nil
  2009   Full Year (.08)
  2008   4(.64)
  2008   Full Year (.07)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.001 par750,000,0008,254,256
Preferred $0.001 par50,000,0004,755,666so2
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  03/01/2010, 730.
Transfer Agent:  Continental Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): VTNR
 
ExchangeYearHighLow
OTC Bulletin Board20092.25000.0200
OTC Bulletin Board20080.34000.0100
OTC Bulletin Board20071.90000.1000
OTC Bulletin Board20066.80001.3600
 
DIVIDENDS: Common $0.001 par: No cash. 1-for-10 reverse split May. 4, 2009.
 
 
  so2Consists of Ser. A Conv. Preferred. Liquidation preference, $1.49 per share. Each Ser. A share is convertible into one Common share.