10-K Filing

Heritage Global Inc. CIK: 849145 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0000950170-22-004073`
Period End Date	20211231
Filing Date	20220317
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	hgbl-20211231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 28 Cash Flow Statement 74 Stockholders Equity 18

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$122.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.39M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.62M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	565.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.73M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.50M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	568.00	shares	Point-in-time
Current portion of notes receivable, net	`NotesAndLoansReceivableNetCurrent`	$2.25M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	565.00	shares	Point-in-time
Current portion of notes receivable, net	`NotesAndLoansReceivableNetCurrent`	$1.34M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	568.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory equipment	`InventoryNet`	$3.22M	USD	Point-in-time
Inventory equipment	`InventoryNet`	$235.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.46M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$498.00K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	35.28M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	36.57M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$23.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.28M	shares	Point-in-time
Non-current portion of notes receivable, net	`NotesAndLoansReceivableNetNoncurrent`	$1.78M	USD	Point-in-time
Non-current portion of notes receivable, net	`NotesAndLoansReceivableNetNoncurrent`	$748.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	36.57M	shares	Point-in-time
Equity method investments	`EquityMethodInvestments`	$4.68M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.40M	USD	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$963.00K	USD	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$2.69M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$130.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.47M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.12M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.57M	USD	Point-in-time
Goodwill	`Goodwill`	$7.45M	USD	Point-in-time
Goodwill	`Goodwill`	$5.58M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$4.40M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$4.49M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$250.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
Total assets	`Assets`	$50.46M	USD	Point-in-time
Total assets	`Assets`	$44.55M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$11.24M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$13.61M	USD	Point-in-time
Current portion of third party debt	`UnsecuredDebtCurrent`	$2.48M	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$501.00K	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$380.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.22M	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	$1.35M	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$623.00K	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$2.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.82M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 565 Series N shares at December 31, 2021 and 568 shares at December 31, 2020	`PreferredStockValue`	$6.00K	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 565 Series N shares at December 31, 2021 and 568 shares at December 31, 2020	`PreferredStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 36,574,702 shares at December 31, 2021 and 35,281,183 shares at December 31, 2020	`CommonStockValue`	$353.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 36,574,702 shares at December 31, 2021 and 35,281,183 shares at December 31, 2020	`CommonStockValue`	$366.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$293.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$293.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-263.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-260.76M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$32.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$29.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$11.85M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$50.46M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$44.55M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.79M	USD	Annual
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$26.18M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.81M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.45M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$362.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$460.00K	USD	Annual
Total operating costs and expenses	`CostsAndExpenses`	$23.92M	USD	Annual
Total operating costs and expenses	`CostsAndExpenses`	$22.70M	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$-79.00K	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$3.80M	USD	Annual
Operating income	`OperatingIncomeLoss`	$6.06M	USD	Annual
Operating income	`OperatingIncomeLoss`	$3.01M	USD	Annual
Interest and other expense, net	`InterestAndOtherExpenseNet`	$22.00K	USD	Annual
Interest and other expense, net	`InterestAndOtherExpenseNet`	$45.00K	USD	Annual
Income before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.01M	USD	Annual
Income before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.99M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-61.00K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.64M	USD	Annual
Net income	`NetIncomeLoss`	$3.05M	USD	Annual
Net income	`NetIncomeLoss`	$9.66M	USD	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.20M	shares	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.46M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.71M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.90M	shares	Annual
Net income per share basic	`EarningsPerShareBasic`	$0.32	USD	Annual
Net income per share basic	`EarningsPerShareBasic`	$0.09	USD	Annual
Net income per share diluted	`EarningsPerShareDiluted`	$0.08	USD	Annual
Net income per share diluted	`EarningsPerShareDiluted`	$0.30	USD	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$9.66M	USD	Annual
Net income	`ProfitLoss`	$3.05M	USD	Annual
Amortization of deferred issuance costs and fees	`IncreaseDecreaseInAmortizationOfFinancingCosts`	$141.00K	USD	Annual
Amortization of deferred issuance costs and fees	`IncreaseDecreaseInAmortizationOfFinancingCosts`	$-30.00K	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$-79.00K	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$3.80M	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$520.00K	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$532.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$362.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$460.00K	USD	Annual
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-86.00K	USD	Annual
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.03M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$408.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$353.00K	USD	Annual
Non-cash expense related to foreign operations	`NonCashExpenseRelatedToForeignOperations`	$77.00K	USD	Annual
Non-cash expense related to foreign operations	`NonCashExpenseRelatedToForeignOperations`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-363.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$826.00K	USD	Annual
Inventory equipment	`IncreaseDecreaseInInventories`	$2.49M	USD	Annual
Inventory equipment	`IncreaseDecreaseInInventories`	$131.00K	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-818.00K	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$749.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.10M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.50M	USD	Annual
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$-61.00K	USD	Annual
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$-516.00K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.15M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.63M	USD	Annual
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	$6.08M	USD	Annual
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	$8.04M	USD	Annual
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$3.98M	USD	Annual
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$1.74M	USD	Annual
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$4.32M	USD	Annual
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Cash received on transfer of notes receivable to partners	`CashReceivedOnTransferOfNotesReceivableToPartners`	$1.96M	USD	Annual
Cash received on transfer of notes receivable to partners	`CashReceivedOnTransferOfNotesReceivableToPartners`	$4.95M	USD	Annual
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$1.43M	USD	Annual
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$2.60M	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$5.34M	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$243.00K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.43M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.20M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.51M	USD	Annual
Proceeds from debt payable to third parties	`ProceedsFromShortTermDebt`	$5.25M	USD	Annual
Proceeds from debt payable to third parties	`ProceedsFromShortTermDebt`	$5.62M	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$6.06M	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$1.42M	USD	Annual
Proceeds from issuance of common stock in public offering, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of common stock in public offering, net	`ProceedsFromIssuanceOfCommonStock`	$7.54M	USD	Annual
Proceeds from issuance of common stock from stock option awards	`ProceedsFromIssuanceOfCommonStockFromStockOptionAwards`	$66.00K	USD	Annual
Proceeds from issuance of common stock from stock option awards	`ProceedsFromIssuanceOfCommonStockFromStockOptionAwards`	$221.00K	USD	Annual
Payments of tax withholdings related to cashless exercises of stock option awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$168.00K	USD	Annual
Payments of tax withholdings related to cashless exercises of stock option awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$987.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.06M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.00M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-9.76M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$20.66M	USD	Annual
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.73M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.39M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.62M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.73M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.39M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.62M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$116.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$143.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$22.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$43.00K	USD	Annual
Issuance of common stock for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$570.00K	USD	Annual
Issuance of common stock for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Noncash change in Right-of-use assets	`NoncashChangeInRightOfUseAssets`	$2.26M	USD	Annual
Noncash change in Right-of-use assets	`NoncashChangeInRightOfUseAssets`	-	USD	Annual
Noncash change in Lease liabilities	`NoncashChangeInLeaseLiabilities`	$2.26M	USD	Annual
Noncash change in Lease liabilities	`NoncashChangeInLeaseLiabilities`	-	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$32.64M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$29.94M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-103.00K	USD	Annual
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-765.00K	USD	Annual
Issuance of common stock from stock options awards, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	1.90M	shares	Annual
Issuance of common stock from stock options awards, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	383,350.00	shares	Annual
Issuance of common stock for services rendered	`StockIssuedDuringPeriodValueIssuedForServices`	$570.00K	USD	Annual
Issuance of common stock in public offering, net	`StockIssuedDuringPeriodValueNewIssues`	$7.54M	USD	Annual
Issuance of restricted common stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$76.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$353.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$332.00K	USD	Annual
Net income	`NetIncomeLoss`	$3.05M	USD	Annual
Net income	`NetIncomeLoss`	$9.66M	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$77.00K	USD	Annual
Ending Balance	`StockholdersEquity`	$32.64M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$29.94M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time

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