10-Q Filing

Heritage Global Inc. CIK: 849145 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-011239`
Period End Date	20180331
Filing Date	20180507
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	hgbl-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 40 Cash Flow Statement 48 Stockholders Equity 7

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$71.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	-	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`	$2.53M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	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 $0 in 2018; $71 in 2017)	`AccountsNotesAndLoansReceivableNetCurrent`	$1.76M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $0 in 2018; $71 in 2017)	`AccountsNotesAndLoansReceivableNetCurrent`	$384.00K	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
Inventory equipment	`InventoryNet`	$170.00K	USD	Point-in-time
Inventory equipment	`InventoryNet`	$227.00K	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$387.00K	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.97M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	28.48M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$179.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$145.00K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	28.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.48M	shares	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.88M	USD	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.81M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.48M	shares	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$247.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$250.00K	USD	Point-in-time
Total assets	`Assets`	$14.37M	USD	Point-in-time
Total assets	`Assets`	$13.45M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.02M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.66M	USD	Point-in-time
Related party debt	`DueToRelatedPartiesCurrent`	$262.00K	USD	Point-in-time
Related party debt	`DueToRelatedPartiesCurrent`	$382.00K	USD	Point-in-time
Current portion of third party debt	`UnsecuredDebtCurrent`	$356.00K	USD	Point-in-time
Current portion of third party debt	`UnsecuredDebtCurrent`	$329.00K	USD	Point-in-time
Contingent consideration	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.77M	USD	Point-in-time
Contingent consideration	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.77M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$133.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$235.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.66M	USD	Point-in-time
Non-current portion of third party debt	`DueToRelatedPartiesNoncurrent`	$786.00K	USD	Point-in-time
Non-current portion of third party debt	`DueToRelatedPartiesNoncurrent`	$755.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$512.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$512.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.96M	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 569 Class N shares at September30, 2017 and December31, 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 September30, 2017 and December31, 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 September30, 2017 and 28,470,148 shares at December31, 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 September30, 2017 and 28,470,148 shares at December31, 2016	`CommonStockValue`	$285.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.46M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-281.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-279.83M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-75.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-75.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.84M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.49M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.45M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$14.37M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Services revenue	`SalesRevenueServicesNet`	$5.04M	USD	1 Quarter
Services revenue	`SalesRevenueServicesNet`	$4.46M	USD	1 Quarter
Asset sales	`SalesRevenueGoodsNet`	$775.00K	USD	1 Quarter
Asset sales	`SalesRevenueGoodsNet`	$571.00K	USD	1 Quarter
Total revenues	`Revenues`	$5.81M	USD	1 Quarter
Total revenues	`Revenues`	$5.03M	USD	1 Quarter
Cost of services revenue	`CostOfServices`	$559.00K	USD	1 Quarter
Cost of services revenue	`CostOfServices`	$1.06M	USD	1 Quarter
Cost of asset sales	`CostOfGoodsSold`	$293.00K	USD	1 Quarter
Cost of asset sales	`CostOfGoodsSold`	$269.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.21M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$84.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$77.00K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$4.64M	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$4.41M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$394.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.41M	USD	1 Quarter
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	-	USD	1 Quarter
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$-111.00K	USD	1 Quarter
Interest and other expense, net	`InterestAndOtherExpenseNet`	$116.00K	USD	1 Quarter
Interest and other expense, net	`InterestAndOtherExpenseNet`	$15.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$268.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.29M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$13.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$255.00K	USD	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.43M	shares	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.48M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.47M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.49M	shares	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$255.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$254.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.29M	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$255.00K	USD	1 Quarter
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$11.00K	USD	1 Quarter
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$4.00K	USD	1 Quarter
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	-	USD	1 Quarter
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$-111.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$61.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$70.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$84.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$77.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.37M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-244.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-211.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$57.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-62.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$27.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$523.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-255.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-274.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.56M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-57.00K	USD	1 Quarter
Repayment of debt payable to third party	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayment of debt payable to third party	`RepaymentsOfShortTermDebt`	$58.00K	USD	1 Quarter
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$124.00K	USD	1 Quarter
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$250.00K	USD	1 Quarter
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	$1.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-249.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-182.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-513.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$1.31M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	$1.00K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	$3.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$50.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$1.00K	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$4.84M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$3.49M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$61.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$255.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$4.84M	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.