10-Q Filing

Heritage Global Inc. CIK: 849145 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-015962`
Period End Date	20190331
Filing Date	20190506
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	hgbl-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 29 Cash Flow Statement 52 Stockholders Equity 12

Balance Sheet 73 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.84M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	569.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.33M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	569.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$400.00K	USD	Point-in-time
Inventory equipment	`InventoryNet`	$2.40M	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
Inventory equipment	`InventoryNet`	$1.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$607.00K	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$670.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.36M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	29.25M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	29.25M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$175.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$163.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.25M	shares	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.77M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.77M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.10M	USD	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.63M	USD	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.57M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$224.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$224.00K	USD	Point-in-time
Total assets	`Assets`	$19.34M	USD	Point-in-time
Total assets	`Assets`	$20.63M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.10M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$5.58M	USD	Point-in-time
Current portion of debt	`UnsecuredDebtCurrent`	$1.18M	USD	Point-in-time
Current portion of debt	`UnsecuredDebtCurrent`	$1.18M	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$534.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$549.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$892.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.84M	USD	Point-in-time
Non-current portion of debt	`UnsecuredLongTermDebt`	$438.00K	USD	Point-in-time
Non-current portion of debt	`UnsecuredLongTermDebt`	$340.00K	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$628.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.84M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.66M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$584.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$584.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.06M	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, 2019 and December 31, 2018	`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, 2019 and December 31, 2018	`PreferredStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 29,253,278 shares at March 31, 2019 and 29,253,278 shares at December 31, 2018	`CommonStockValue`	$293.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 29,253,278 shares at March 31, 2019 and 29,253,278 shares at December 31, 2018	`CommonStockValue`	$293.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-277.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-276.76M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-77.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-77.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.28M	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 stockholders equity	`StockholdersEquity`	$7.60M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$19.34M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$20.63M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.81M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.55M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.92M	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`	$76.00K	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$4.41M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$5.89M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$659.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.41M	USD	1 Quarter
Interest and other expense, net	`InterestAndOtherExpenseNet`	$23.00K	USD	1 Quarter
Interest and other expense, net	`InterestAndOtherExpenseNet`	$116.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$636.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.29M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$24.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$612.00K	USD	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.48M	shares	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.65M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.49M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.81M	shares	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$612.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.29M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$612.00K	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$612.00K	USD	1 Quarter
Net income	`ProfitLoss`	$1.29M	USD	1 Quarter
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	-	USD	1 Quarter
Accrued interest added to principal of related party debt	`InterestExpenseRelatedParty`	$4.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$71.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$61.00K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	-	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$117.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$84.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$76.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.37M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$926.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$57.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-879.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$63.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$27.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	-	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$-122.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.52M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-358.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-455.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$103.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-274.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.33M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.00K	USD	1 Quarter
Repayment of debt	`RepaymentsOfUnsecuredDebt`	$92.00K	USD	1 Quarter
Repayment of debt	`RepaymentsOfUnsecuredDebt`	$182.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-92.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-182.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-513.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.43M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.27M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	$1.00K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	$1.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$50.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$16.00K	USD	1 Quarter
Noncash change in right-of-use assets	`NonCashChangeInRightOfUseAssets`	$1.22M	USD	1 Quarter
Noncash change in right-of-use assets	`NonCashChangeInRightOfUseAssets`	-	USD	1 Quarter
Noncash change in deferred rent	`NonCashChangeInDeferredRent`	-	USD	1 Quarter
Noncash change in deferred rent	`NonCashChangeInDeferredRent`	$-64.00K	USD	1 Quarter
Noncash change in lease liabilities	`NonCashChangeInLeaseLiabilities`	$1.28M	USD	1 Quarter
Noncash change in lease liabilities	`NonCashChangeInLeaseLiabilities`	-	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$8.28M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$4.84M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$3.49M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.60M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$71.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$61.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$612.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$8.28M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$4.84M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$3.49M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.60M	USD	Point-in-time

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