10-K Filing

Heritage Global Inc. CIK: 849145 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001564590-17-003568`
Period End Date	20161231
Filing Date	20170307
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	hgbl-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 50 Cash Flow Statement 66 Stockholders Equity 15

Balance Sheet 77 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`	$2.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	569.00	shares	Point-in-time
Accounts receivable, net	`AccountsNotesAndLoansReceivableNetCurrent`	$639.00K	USD	Point-in-time
Accounts receivable, net	`AccountsNotesAndLoansReceivableNetCurrent`	$1.25M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	569.00	shares	Point-in-time
Inventory equipment	`InventoryNet`	$263.00K	USD	Point-in-time
Inventory equipment	`InventoryNet`	$395.00K	USD	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
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$393.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$453.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.26M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	28.47M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	28.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.47M	shares	Point-in-time
Inventory real estate	`InventoryRealEstate`	$3.71M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$110.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$156.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.66M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.38M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.12M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Goodwill	`Goodwill`	$8.85M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$275.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$173.00K	USD	Point-in-time
Total assets	`Assets`	$15.14M	USD	Point-in-time
Total assets	`Assets`	$18.80M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.64M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.75M	USD	Point-in-time
Current portion of related party debt	`DueToRelatedPartiesCurrent`	$664.00K	USD	Point-in-time
Current portion of related party debt	`DueToRelatedPartiesCurrent`	$1.72M	USD	Point-in-time
Current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$961.00K	USD	Point-in-time
Current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$865.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$131.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$199.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.36M	USD	Point-in-time
Non-current portion of related party debt	`DueToRelatedPartiesNoncurrent`	$348.00K	USD	Point-in-time
Non-current portion of related party debt	`DueToRelatedPartiesNoncurrent`	-	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	-	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	$2.50M	USD	Point-in-time
Non-current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$2.59M	USD	Point-in-time
Non-current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.77M	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`	$11.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.41M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 569 Class N shares at December 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 December 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 28,470,148 shares at December 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 28,470,148 shares at December 31, 2016 and 28,467,648 shares at December 31, 2015	`CommonStockValue`	$285.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.15M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-280.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-280.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-71.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-54.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.49M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.39M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$13.48M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$15.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$18.80M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Services revenue	`SalesRevenueServicesNet`	$15.37M	USD	Annual
Services revenue	`SalesRevenueServicesNet`	$13.48M	USD	Annual
Asset sales	`SalesRevenueGoodsNet`	$8.41M	USD	Annual
Asset sales	`SalesRevenueGoodsNet`	$3.95M	USD	Annual
Total revenues	`Revenues`	$23.78M	USD	Annual
Total revenues	`Revenues`	$17.43M	USD	Annual
Cost of services revenue	`CostOfServices`	$4.19M	USD	Annual
Cost of services revenue	`CostOfServices`	$3.12M	USD	Annual
Cost of asset sales	`CostOfGoodsSold`	$3.41M	USD	Annual
Cost of asset sales	`CostOfGoodsSold`	$7.13M	USD	Annual
Real estate inventory write-down	`InventoryWriteDown`	$2.75M	USD	Annual
Real estate inventory write-down	`InventoryWriteDown`	-	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.77M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.01M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$316.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$575.00K	USD	Annual
Impairment of goodwill and intangible assets	`GoodwillAndIntangibleAssetImpairment`	$5.44M	USD	Annual
Impairment of goodwill and intangible assets	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$23.64M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$28.07M	USD	Annual
Earnings of equity method investments	`EarningsOfEquityAccountedAssetLiquidationInvestments`	$286.00K	USD	Annual
Earnings of equity method investments	`EarningsOfEquityAccountedAssetLiquidationInvestments`	$52.00K	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$-10.35M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$190.00K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$119.00K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$69.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$228.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$-92.00K	USD	Annual
Interest expense	`InterestExpense`	$182.00K	USD	Annual
Interest expense	`InterestExpense`	$349.00K	USD	Annual
Income (loss) before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$35.00K	USD	Annual
Income (loss) before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.41M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$15.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$21.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-10.42M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$14.00K	USD	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.25M	shares	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.40M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.25M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.43M	shares	Annual
Net income (loss) per share basic	`EarningsPerShareBasic`	$-0.37	USD	Annual
Net income (loss) per share basic	`EarningsPerShareBasic`	-	USD	Annual
Net income (loss) per share diluted	`EarningsPerShareDiluted`	$-0.37	USD	Annual
Net income (loss) per share diluted	`EarningsPerShareDiluted`	-	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-10.42M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$14.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-17.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-20.00K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.00K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-10.44M	USD	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-10.42M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$14.00K	USD	Annual
Accrued management fees and other charges added to principal of related party debt	`RelatedPartyExpensesAccruedToRelatedPartyDebt`	$290.00K	USD	Annual
Accrued management fees and other charges added to principal of related party debt	`RelatedPartyExpensesAccruedToRelatedPartyDebt`	-	USD	Annual
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$90.00K	USD	Annual
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$65.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$228.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$-92.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$99.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$358.00K	USD	Annual
Real estate inventory write-down	`InventoryWriteDown`	$2.75M	USD	Annual
Real estate inventory write-down	`InventoryWriteDown`	-	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$291.00K	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$49.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$316.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$575.00K	USD	Annual
Impairment of goodwill and intangible assets	`GoodwillAndIntangibleAssetImpairment`	$5.44M	USD	Annual
Impairment of goodwill and intangible assets	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Return on investment in equity method investments	`EquityMethodInvestmentDividendsOrDistributions`	$680.00K	USD	Annual
Return on investment in equity method investments	`EquityMethodInvestmentDividendsOrDistributions`	$93.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$601.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-216.00K	USD	Annual
Inventory - real estate and equipment	`IncreaseDecreaseInInventories`	$-3.85M	USD	Annual
Inventory - real estate and equipment	`IncreaseDecreaseInInventories`	$211.00K	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$37.00K	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-299.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$75.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-378.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.91M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-836.00K	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$850.00K	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$20.00K	USD	Annual
Proceeds from sale of equity method investments	`ProceedsFromSaleOfEquityMethodInvestments`	-	USD	Annual
Proceeds from sale of equity method investments	`ProceedsFromSaleOfEquityMethodInvestments`	$1.99M	USD	Annual
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	-	USD	Annual
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$143.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$99.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.00K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-79.00K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.69M	USD	Annual
Proceeds from debt payable to related party	`ProceedsFromRelatedPartyDebt`	$1.10M	USD	Annual
Proceeds from debt payable to related party	`ProceedsFromRelatedPartyDebt`	$775.00K	USD	Annual
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$2.42M	USD	Annual
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$1.87M	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$525.00K	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$2.50M	USD	Annual
Payment of contingent consideration	`PaymentOfContingentConsideration`	$513.00K	USD	Annual
Payment of contingent consideration	`PaymentOfContingentConsideration`	$816.00K	USD	Annual
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	$4.00K	USD	Annual
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.09M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.68M	USD	Annual
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-828.00K	USD	Annual
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-251.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-28.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$4.00K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.63M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.63M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$30.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$75.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$187.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$178.00K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$3.49M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$13.48M	USD	Point-in-time
Issuance of common stock from stock options awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.00K	USD	Annual
Issuance of common stock from stock options awards (shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	40,000.00	shares	Annual
Issuance of common stock from stock options awards (shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$358.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$99.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-10.42M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$14.00K	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-17.00K	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-20.00K	USD	Annual
Ending Balance	`StockholdersEquity`	$3.49M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$13.48M	USD	Point-in-time

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