10-K Filing

Heritage Global Inc. CIK: 849145 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001564590-20-009356`
Period End Date	20191231
Filing Date	20200309
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	hgbl-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 38 Cash Flow Statement 74 Stockholders Equity 18

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`	$4.27M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	569.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	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	`AccountsReceivableNetCurrent`	$1.86M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	569.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$400.00K	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
Current portion of notes receivable, net	`NotesAndLoansReceivableNetCurrent`	$1.29M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventory equipment	`InventoryNet`	$2.40M	USD	Point-in-time
Inventory equipment	`InventoryNet`	$104.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	29.34M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$784.00K	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$607.00K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	29.25M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.68M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.34M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$221.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$175.00K	USD	Point-in-time
Non-current portion of notes receivable, net	`NotesAndLoansReceivableNetNoncurrent`	$1.37M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.52M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.77M	USD	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$1.48M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.39M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.63M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.88M	USD	Point-in-time
Goodwill	`Goodwill`	$5.58M	USD	Point-in-time
Goodwill	`Goodwill`	$6.16M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$372.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$224.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$212.00K	USD	Point-in-time
Total assets	`Assets`	$20.63M	USD	Point-in-time
Total assets	`Assets`	$21.92M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.10M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.11M	USD	Point-in-time
Current portion of third party debt	`UnsecuredDebtCurrent`	$403.00K	USD	Point-in-time
Current portion of third party debt	`UnsecuredDebtCurrent`	$1.18M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$577.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$892.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.17M	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	$438.00K	USD	Point-in-time
Non-current portion of third party debt	`UnsecuredLongTermDebt`	$35.00K	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$942.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.84M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$584.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$10.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.03M	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 569 Series N shares at December 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 Series N shares at December 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 29,339,061 shares at December 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 29,339,061 shares at December 31, 2019 and 29,253,278 shares at December 31, 2018	`CommonStockValue`	$293.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$285.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$284.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-273.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-277.37M	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`	$11.85M	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`	$21.92M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$20.63M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$23.66M	USD	Annual
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$26.17M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$15.22M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$15.87M	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	$573.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$319.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$305.00K	USD	Annual
Total operating costs and expenses	`CostsAndExpenses`	$19.59M	USD	Annual
Total operating costs and expenses	`CostsAndExpenses`	$24.49M	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	-	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$1.37M	USD	Annual
Operating income	`OperatingIncomeLoss`	$4.08M	USD	Annual
Operating income	`OperatingIncomeLoss`	$3.05M	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$157.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	-	USD	Annual
Interest and other expense, net	`InterestAndOtherExpenseNet`	$214.00K	USD	Annual
Interest and other expense, net	`InterestAndOtherExpenseNet`	$64.00K	USD	Annual
Income before income tax (benefit) expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.99M	USD	Annual
Income before income tax (benefit) expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.02M	USD	Annual
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-913.00K	USD	Annual
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$270.00K	USD	Annual
Net income	`NetIncomeLoss`	$3.75M	USD	Annual
Net income	`NetIncomeLoss`	$3.90M	USD	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.66M	shares	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.58M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.27M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.89M	shares	Annual
Net income per share basic	`EarningsPerShareBasic`	$0.13	USD	Annual
Net income per share basic	`EarningsPerShareBasic`	$0.14	USD	Annual
Net income per share diluted	`EarningsPerShareDiluted`	$0.13	USD	Annual
Net income per share diluted	`EarningsPerShareDiluted`	$0.13	USD	Annual
Net income	`NetIncomeLoss`	$3.75M	USD	Annual
Net income	`NetIncomeLoss`	$3.90M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.00K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.75M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.90M	USD	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$3.75M	USD	Annual
Net income	`ProfitLoss`	$3.90M	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	-	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$1.37M	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$-262.00K	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	-	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$319.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$305.00K	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	$573.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	$157.00K	USD	Annual
Fair value adjustment of contingent consideration	`LiabilitiesFairValueAdjustment`	-	USD	Annual
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$72.00K	USD	Annual
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-956.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$283.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$289.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$16.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.46M	USD	Annual
Inventory equipment	`IncreaseDecreaseInInventories`	$-2.30M	USD	Annual
Inventory equipment	`IncreaseDecreaseInInventories`	$2.23M	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$238.00K	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$100.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.85M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$9.00K	USD	Annual
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	-	USD	Annual
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$235.00K	USD	Annual
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.84M	USD	Annual
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-2.66M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$794.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.47M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$116.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$99.00K	USD	Annual
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	-	USD	Annual
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	$2.83M	USD	Annual
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$166.00K	USD	Annual
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	Annual
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$604.00K	USD	Annual
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$2.75M	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$2.23M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.85M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.16M	USD	Annual
Proceeds from debt payable to third parties	`ProceedsFromShortTermDebt`	$1.30M	USD	Annual
Proceeds from debt payable to third parties	`ProceedsFromShortTermDebt`	$1.25M	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$2.43M	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$826.00K	USD	Annual
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Repayment of debt payable to related party	`RepaymentsOfRelatedPartyDebt`	$390.00K	USD	Annual
Payment of contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	Annual
Payment of contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$2.62M	USD	Annual
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	$74.00K	USD	Annual
Proceeds from exercise of options to purchase common shares	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.46M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.18M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$2.16M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.54M	USD	Annual
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.73M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.27M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.11M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.73M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.27M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.11M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$290.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$56.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$249.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$74.00K	USD	Annual
Noncash change in right-of-use assets	`NonCashChangeInRightOfUseAssets`	-	USD	Annual
Noncash change in right-of-use assets	`NonCashChangeInRightOfUseAssets`	$1.22M	USD	Annual
Noncash change in deferred rent	`NonCashChangeInDeferredRent`	-	USD	Annual
Noncash change in deferred rent	`NonCashChangeInDeferredRent`	$-64.00K	USD	Annual
Noncash change in lease liabilities	`NonCashChangeInLeaseLiabilities`	$1.28M	USD	Annual
Noncash change in lease liabilities	`NonCashChangeInLeaseLiabilities`	-	USD	Annual
Issuance of common stock for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Issuance of common stock for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$65.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$3.49M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.60M	USD	Point-in-time
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$74.00K	USD	Annual
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Issuance of common stock from stock options awards, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	31,276.00	shares	Annual
Issuance of common stock from stock options awards, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	173,130.00	shares	Annual
Issuance of restricted common stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$65.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$283.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$289.00K	USD	Annual
Net income	`NetIncomeLoss`	$3.75M	USD	Annual
Net income	`NetIncomeLoss`	$3.90M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.00K	USD	Annual
Ending Balance	`StockholdersEquity`	$11.85M	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.