10-Q Filing

Heritage Global Inc. CIK: 849145 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-018604`
Period End Date	20160331
Filing Date	20160509
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	hgbl-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 44 Cash Flow Statement 60 Stockholders Equity 11

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.63M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.81M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Accounts receivable, net	`AccountsNotesAndLoansReceivableNetCurrent`	$1.08M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	569.00	shares	Point-in-time
Accounts receivable, net	`AccountsNotesAndLoansReceivableNetCurrent`	$639.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	569.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$130.00K	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$4.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory equipment	`InventoryNet`	$395.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventory equipment	`InventoryNet`	$260.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$449.00K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	28.47M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	28.49M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$379.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.26M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.49M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.17M	USD	Point-in-time
Inventory real estate	`InventoryRealEstate`	$3.71M	USD	Point-in-time
Inventory real estate	`InventoryRealEstate`	$3.71M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$97.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$110.00K	USD	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.31M	USD	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.38M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$188.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$173.00K	USD	Point-in-time
Total assets	`Assets`	$18.80M	USD	Point-in-time
Total assets	`Assets`	$17.64M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.36M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.67M	USD	Point-in-time
Current portion of third party debt	`ShortTermBorrowingsFromThirdPartyDebt`	-	USD	Point-in-time
Current portion of third party debt	`ShortTermBorrowingsFromThirdPartyDebt`	$2.50M	USD	Point-in-time
Related party debt	`DueToRelatedPartiesCurrent`	$1.72M	USD	Point-in-time
Related party debt	`DueToRelatedPartiesCurrent`	$1.72M	USD	Point-in-time
Current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$865.00K	USD	Point-in-time
Current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$851.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$84.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$97.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.52M	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	$2.50M	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	-	USD	Point-in-time
Non-current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$2.67M	USD	Point-in-time
Non-current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$2.59M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$960.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$960.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.41M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.15M	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 569 Class N shares at March 31, 2016 and December 31, 2015	`PreferredStockValue`	$6.00K	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 569 Class N shares at March 31, 2016 and December 31, 2015	`PreferredStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 28,487,648 shares at March 31, 2016 and 28,467,648 shares at December 31, 2015	`CommonStockValue`	$285.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 28,487,648 shares at March 31, 2016 and 28,467,648 shares at December 31, 2015	`CommonStockValue`	$285.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-280.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-280.89M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-62.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-54.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.39M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.48M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$17.64M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$18.80M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Services revenue	`SalesRevenueServicesNet`	$4.19M	USD	1 Quarter
Services revenue	`SalesRevenueServicesNet`	$3.68M	USD	1 Quarter
Asset sales	`SalesRevenueGoodsNet`	$989.00K	USD	1 Quarter
Asset sales	`SalesRevenueGoodsNet`	$1.22M	USD	1 Quarter
Total revenues	`Revenues`	$4.67M	USD	1 Quarter
Total revenues	`Revenues`	$5.41M	USD	1 Quarter
Cost of services revenue	`CostOfServices`	$931.00K	USD	1 Quarter
Cost of services revenue	`CostOfServices`	$1.00M	USD	1 Quarter
Cost of asset sales	`CostOfGoodsSold`	$1.07M	USD	1 Quarter
Cost of asset sales	`CostOfGoodsSold`	$1.05M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.09M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$83.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$159.00K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$5.23M	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$5.14M	USD	1 Quarter
Earnings of equity method investments	`EarningsOfEquityAccountedAssetLiquidationInvestments`	$34.00K	USD	1 Quarter
Earnings of equity method investments	`EarningsOfEquityAccountedAssetLiquidationInvestments`	$8.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$192.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-432.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-85.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-43.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$67.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$73.00K	USD	1 Quarter
Income (loss) before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-584.00K	USD	1 Quarter
Income (loss) before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$76.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$16.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$60.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-587.00K	USD	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.17M	shares	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.32M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.17M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.35M	shares	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Net income (loss) per share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income (loss) per share diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$60.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-587.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-30.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-8.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$52.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-617.00K	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$60.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-587.00K	USD	1 Quarter
Accrued management fees and other charges added to principal of related party debt	`RelatedPartyExpensesAccruedToRelatedPartyDebt`	$109.00K	USD	1 Quarter
Accrued management fees and other charges added to principal of related party debt	`RelatedPartyExpensesAccruedToRelatedPartyDebt`	-	USD	1 Quarter
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$22.00K	USD	1 Quarter
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$24.00K	USD	1 Quarter
Accretion of contingent consideration discount	`AccretionOfDiscount`	$89.00K	USD	1 Quarter
Accretion of contingent consideration discount	`AccretionOfDiscount`	$68.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$120.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$36.00K	USD	1 Quarter
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$5.00K	USD	1 Quarter
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$39.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$83.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$159.00K	USD	1 Quarter
Return on investment in equity method investments	`EquityMethodInvestmentDividendsOrDistributions`	$191.00K	USD	1 Quarter
Return on investment in equity method investments	`EquityMethodInvestmentDividendsOrDistributions`	$54.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$442.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-301.00K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositsOutstanding`	$-171.00K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositsOutstanding`	$126.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$380.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-135.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-74.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-70.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.40M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-573.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.44M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-343.00K	USD	1 Quarter
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	1 Quarter
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$160.00K	USD	1 Quarter
Proceeds from sale of equity method investments	`ProceedsFromSaleOfEquityMethodInvestments`	-	USD	1 Quarter
Proceeds from sale of equity method investments	`ProceedsFromSaleOfEquityMethodInvestments`	$1.99M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.15M	USD	1 Quarter
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$525.00K	USD	1 Quarter
Proceeds from debt payable to related party	`ProceedsFromRelatedPartyDebt`	$524.00K	USD	1 Quarter
Proceeds from debt payable to related party	`ProceedsFromRelatedPartyDebt`	$404.00K	USD	1 Quarter
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$428.00K	USD	1 Quarter
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$1.59M	USD	1 Quarter
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	$3.00K	USD	1 Quarter
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.59M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-21.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$221.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-1.46M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$9.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-44.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.63M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.63M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.32M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	$47.00K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	$17.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$93.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$22.00K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$3.48M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$36.00K	USD	1 Quarter
Issuance of common stock from exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.00K	USD	1 Quarter
Issuance of common stock from exercise of stock options (shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	20,000.00	shares	1 Quarter
Net income (loss)	`NetIncomeLoss`	$60.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-587.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-30.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-8.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$3.48M	USD	Point-in-time

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