10-K Filing

Heritage Global Inc. CIK: 849145 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001564590-18-005463`
Period End Date	20171231
Filing Date	20180313
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	hgbl-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 44 Cash Flow Statement 55 Stockholders Equity 16

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$36.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$110.00K	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`	$2.11M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	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 authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $110 in 2017; $36 in 2016)	`AccountsNotesAndLoansReceivableNetCurrent`	$384.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $110 in 2017; $36 in 2016)	`AccountsNotesAndLoansReceivableNetCurrent`	$1.25M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Inventory equipment	`InventoryNet`	$263.00K	USD	Point-in-time
Inventory equipment	`InventoryNet`	$170.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	569.00	shares	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
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$393.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$357.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.02M	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
Total current assets	`AssetsCurrent`	$4.43M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$145.00K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	28.47M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$156.00K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	28.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.47M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$4.12M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$4.38M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.48M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.88M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$275.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$250.00K	USD	Point-in-time
Total assets	`Assets`	$15.14M	USD	Point-in-time
Total assets	`Assets`	$13.45M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.75M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.02M	USD	Point-in-time
Current portion of related party debt	`DueToRelatedPartiesCurrent`	$382.00K	USD	Point-in-time
Current portion of related party debt	`DueToRelatedPartiesCurrent`	$664.00K	USD	Point-in-time
Current portion of third party debt	`UnsecuredDebtCurrent`	-	USD	Point-in-time
Current portion of third party debt	`UnsecuredDebtCurrent`	$356.00K	USD	Point-in-time
Current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$961.00K	USD	Point-in-time
Current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.77M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$133.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$199.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.57M	USD	Point-in-time
Non-current portion of related party debt	`DueToRelatedPartiesNoncurrent`	-	USD	Point-in-time
Non-current portion of related party debt	`DueToRelatedPartiesNoncurrent`	$348.00K	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	$786.00K	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	-	USD	Point-in-time
Non-current portion of contingent consideration	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$1.77M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$512.00K	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`	$9.96M	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, 2017 and December 31, 2016	`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, 2017 and December 31, 2016	`PreferredStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 28,480,148 shares at December 31, 2017 and 28,470,148 shares at December 31, 2016	`CommonStockValue`	$285.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 28,480,148 shares at December 31, 2017 and 28,470,148 shares at December 31, 2016	`CommonStockValue`	$285.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-281.12M	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`	$-75.00K	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`	$3.49M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$15.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.45M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Services revenue	`SalesRevenueServicesNet`	$15.37M	USD	Annual
Services revenue	`SalesRevenueServicesNet`	$17.94M	USD	Annual
Asset sales	`SalesRevenueGoodsNet`	$2.19M	USD	Annual
Asset sales	`SalesRevenueGoodsNet`	$8.46M	USD	Annual
Total revenues	`Revenues`	$23.83M	USD	Annual
Total revenues	`Revenues`	$20.13M	USD	Annual
Cost of services revenue	`CostOfServices`	$4.19M	USD	Annual
Cost of services revenue	`CostOfServices`	$3.01M	USD	Annual
Cost of asset sales	`CostOfGoodsSold`	$1.71M	USD	Annual
Cost of asset sales	`CostOfGoodsSold`	$7.13M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.01M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.60M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$313.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$316.00K	USD	Annual
Settlement accrual (Note 9)	`LossContingencyAccrualProvision`	-	USD	Annual
Settlement accrual (Note 9)	`LossContingencyAccrualProvision`	$1.14M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$19.77M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$23.64M	USD	Annual
Operating income	`OperatingIncomeLoss`	$364.00K	USD	Annual
Operating income	`OperatingIncomeLoss`	$190.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$-92.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$-938.00K	USD	Annual
Interest and other expense, net	`InterestAndOtherExpenseNet`	$95.00K	USD	Annual
Interest and other expense, net	`InterestAndOtherExpenseNet`	$63.00K	USD	Annual
(Loss) income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-669.00K	USD	Annual
(Loss) income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$35.00K	USD	Annual
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-420.00K	USD	Annual
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$21.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$14.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-249.00K	USD	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.40M	shares	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.47M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.43M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.47M	shares	Annual
Net (loss) income per share basic	`EarningsPerShareBasic`	-	USD	Annual
Net (loss) income per share basic	`EarningsPerShareBasic`	$-0.01	USD	Annual
Net (loss) income per share diluted	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Net (loss) income per share diluted	`EarningsPerShareDiluted`	-	USD	Annual
Net (loss) income	`NetIncomeLoss`	$14.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-249.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-17.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.00K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.00K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-253.00K	USD	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$14.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-249.00K	USD	Annual
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$33.00K	USD	Annual
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$65.00K	USD	Annual
Settlement accrual (Note 9)	`LossContingencyAccrualProvision`	-	USD	Annual
Settlement accrual (Note 9)	`LossContingencyAccrualProvision`	$1.14M	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$-92.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$-938.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$246.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$99.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$313.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$316.00K	USD	Annual
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-863.00K	USD	Annual
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$601.00K	USD	Annual
Inventory - equipment	`IncreaseDecreaseInInventories`	$-93.00K	USD	Annual
Inventory - equipment	`IncreaseDecreaseInInventories`	$-3.85M	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-12.00K	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$79.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.76M	USD	Annual
Deferred tax liabilities	`IncreaseDecreaseInDeferredTaxLiabilities`	$-448.00K	USD	Annual
Deferred tax liabilities	`IncreaseDecreaseInDeferredTaxLiabilities`	-	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.18M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.92M	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$20.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$99.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$44.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-44.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-79.00K	USD	Annual
Proceeds from debt payable to related party	`ProceedsFromRelatedPartyDebt`	$1.10M	USD	Annual
Proceeds from debt payable to related party	`ProceedsFromRelatedPartyDebt`	$750.00K	USD	Annual
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$1.41M	USD	Annual
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$1.87M	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	-	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$2.50M	USD	Annual
Payment of contingent consideration	`PaymentOfContingentConsideration`	$816.00K	USD	Annual
Payment of contingent consideration	`PaymentOfContingentConsideration`	$897.00K	USD	Annual
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	$1.00K	USD	Annual
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	$4.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.09M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.56M	USD	Annual
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-247.00K	USD	Annual
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-421.00K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.11M	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`	$2.11M	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`	$23.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$3.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$187.00K	USD	Annual
Promissory note issued in connection with settlement accrual (Note 9)	`NotesIssued1`	$1.14M	USD	Annual

Stockholders Equity 16 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`	$3.49M	USD	Point-in-time
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.00K	USD	Annual
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.00K	USD	Annual
Issuance of common stock from stock options awards (shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	10,000.00	shares	Annual
Issuance of common stock from stock options awards (shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	40,000.00	shares	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$99.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$246.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$14.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-249.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-17.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.00K	USD	Annual
Ending Balance	`StockholdersEquity`	$3.49M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$3.39M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$3.49M	USD	Point-in-time

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