10-Q Filing

Heritage Global Inc. CIK: 849145 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-024151`
Period End Date	20200331
Filing Date	20200511
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	hgbl-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 28 Cash Flow Statement 62 Stockholders Equity 14

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
Preferred stock, shares issued	`PreferredStockSharesIssued`	568.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	568.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	568.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	568.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.70M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.86M	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, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Current portion of notes receivable, net	`NotesAndLoansReceivableNetCurrent`	$816.00K	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
Inventory equipment	`InventoryNet`	$218.00K	USD	Point-in-time
Inventory equipment	`InventoryNet`	$104.00K	USD	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`	$1.06M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	29.36M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.36M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.88M	USD	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`	$203.00K	USD	Point-in-time
Non-current portion of notes receivable, net	`NotesAndLoansReceivableNetNoncurrent`	$1.37M	USD	Point-in-time
Non-current portion of notes receivable, net	`NotesAndLoansReceivableNetNoncurrent`	$950.00K	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.77M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.52M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.48M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.35M	USD	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.33M	USD	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.39M	USD	Point-in-time
Goodwill	`Goodwill`	$5.58M	USD	Point-in-time
Goodwill	`Goodwill`	$5.58M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$372.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$329.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$212.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$271.00K	USD	Point-in-time
Total assets	`Assets`	$21.92M	USD	Point-in-time
Total assets	`Assets`	$21.67M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.98M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.11M	USD	Point-in-time
Current portion of debt	`UnsecuredDebtCurrent`	$340.00K	USD	Point-in-time
Current portion of debt	`UnsecuredDebtCurrent`	$403.00K	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$580.00K	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$577.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.09M	USD	Point-in-time
Non-current portion of debt	`UnsecuredLongTermDebt`	$35.00K	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$805.00K	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$942.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.07M	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 568 shares of Series N at March 31, 2020 and December 31, 2019	`PreferredStockValue`	$6.00K	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 568 shares of Series N at March 31, 2020 and December 31, 2019	`PreferredStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 29,358,906 shares at March 31, 2020 and 29,339,101 at December 31, 2019	`CommonStockValue`	$293.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 29,358,906 shares at March 31, 2020 and 29,339,101 at December 31, 2019	`CommonStockValue`	$294.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$285.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$285.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-273.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-273.44M	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`	$11.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.60M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$11.96M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$21.92M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$21.67M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.55M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.24M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.47M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.92M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$76.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$90.00K	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$4.15M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$5.89M	USD	1 Quarter
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$1.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$94.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$659.00K	USD	1 Quarter
Interest and other expense, net	`InterestAndOtherExpenseNet`	$23.00K	USD	1 Quarter
Interest and other expense, net	`InterestAndOtherExpenseNet`	$27.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$636.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$67.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$29.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$24.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$612.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$38.00K	USD	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.75M	shares	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.65M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.20M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.81M	shares	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$612.00K	USD	1 Quarter
Net income	`ProfitLoss`	$38.00K	USD	1 Quarter
Amortization of deferred issuance costs and fees	`AmortizationOfFinancingCosts`	$59.00K	USD	1 Quarter
Amortization of deferred issuance costs and fees	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$1.00K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$131.00K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$117.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$76.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$90.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$43.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$75.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$71.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$926.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-160.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-879.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$114.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$63.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$333.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$-134.00K	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`	$-132.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-455.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-118.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.33M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$385.00K	USD	1 Quarter
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	-	USD	1 Quarter
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$136.00K	USD	1 Quarter
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	1 Quarter
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	$3.58M	USD	1 Quarter
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	-	USD	1 Quarter
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$421.00K	USD	1 Quarter
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	1 Quarter
Cash received on transfer of notes receivable to partners	`CashReceivedOnTransferOfNotesReceivableToPartners`	$3.99M	USD	1 Quarter
Cash received on transfer of notes receivable to partners	`CashReceivedOnTransferOfNotesReceivableToPartners`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$581.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.00K	USD	1 Quarter
Proceeds from debt payable to third party	`ProceedsFromShortTermDebt`	-	USD	1 Quarter
Proceeds from debt payable to third party	`ProceedsFromShortTermDebt`	$4.42M	USD	1 Quarter
Repayment of debt payable to third party	`RepaymentsOfShortTermDebt`	$92.00K	USD	1 Quarter
Repayment of debt payable to third party	`RepaymentsOfShortTermDebt`	$4.52M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-92.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-98.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.43M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$365.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.09M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.73M	USD	Point-in-time
Cash and cash equivalents at beginning 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 and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.84M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	$1.00K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$16.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$29.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$8.28M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.60M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.96M	USD	Point-in-time
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-2.00K	USD	1 Quarter
Issuance of common stock from stock options awards, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	43,875.00	shares	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$71.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$75.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$612.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$38.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$8.28M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$7.60M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.96M	USD	Point-in-time

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