10-K Filing

Heritage Global Inc. CIK: 849145 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001564590-21-011476`
Period End Date	20201231
Filing Date	20210308
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	hgbl-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 30 Cash Flow Statement 70 Stockholders Equity 19

Balance Sheet 74 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`	$2.73M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	568.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	568.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.39M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.86M	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`	$1.50M	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
Current portion of notes receivable, net	`NotesAndLoansReceivableNetCurrent`	$1.34M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventory equipment	`InventoryNet`	$235.00K	USD	Point-in-time
Inventory equipment	`InventoryNet`	$104.00K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	29.34M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	35.28M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$498.00K	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$784.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.28M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$26.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.77M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.34M	shares	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`	$748.00K	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.40M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.52M	USD	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$1.48M	USD	Point-in-time
Right-of-use asset	`OperatingLeaseRightOfUseAsset`	$963.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$130.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$221.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.63M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.12M	USD	Point-in-time
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	`DeferredIncomeTaxAssetsNet`	$372.00K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$4.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$212.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$250.00K	USD	Point-in-time
Total assets	`Assets`	$21.92M	USD	Point-in-time
Total assets	`Assets`	$44.55M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.11M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$13.61M	USD	Point-in-time
Current portion of third party debt	`UnsecuredDebtCurrent`	$438.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$380.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$577.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.13M	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$623.00K	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$942.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.07M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 568 Series N shares at December 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 Series N shares at December 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 35,281,183 shares at December 31, 2020 and 29,339,101 shares 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 35,281,183 shares at December 31, 2020 and 29,339,101 shares at December 31, 2019	`CommonStockValue`	$353.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$293.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$285.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-273.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-263.82M	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`	$29.94M	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`	$44.55M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$26.18M	USD	Annual
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$26.17M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$15.87M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.45M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$305.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$362.00K	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	$573.00K	USD	Annual
Total operating costs and expenses	`CostsAndExpenses`	$23.92M	USD	Annual
Total operating costs and expenses	`CostsAndExpenses`	$24.49M	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$3.80M	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$1.37M	USD	Annual
Operating income	`OperatingIncomeLoss`	$3.05M	USD	Annual
Operating income	`OperatingIncomeLoss`	$6.06M	USD	Annual
Interest and other expense, net	`InterestAndOtherExpenseNet`	$64.00K	USD	Annual
Interest and other expense, net	`InterestAndOtherExpenseNet`	$45.00K	USD	Annual
Income before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.01M	USD	Annual
Income before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.99M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.64M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-913.00K	USD	Annual
Net income	`NetIncomeLoss`	$9.66M	USD	Annual
Net income	`NetIncomeLoss`	$3.90M	USD	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.20M	shares	Annual
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.66M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.27M	shares	Annual
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.71M	shares	Annual
Net income per share basic	`EarningsPerShareBasic`	$0.32	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`	$0.30	USD	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$9.66M	USD	Annual
Net income	`ProfitLoss`	$3.90M	USD	Annual
Amortization of deferred issuance costs and fees	`AmortizationOfFinancingCosts`	$30.00K	USD	Annual
Amortization of deferred issuance costs and fees	`AmortizationOfFinancingCosts`	-	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$3.80M	USD	Annual
Earnings of equity method investments	`IncomeLossFromEquityMethodInvestments`	$1.37M	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$-262.00K	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$520.00K	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	$573.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$305.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$362.00K	USD	Annual
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.03M	USD	Annual
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-956.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$353.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$283.00K	USD	Annual
Non-cash expense related to foreign operations	`NonCashExpenseRelatedToForeignOperations`	-	USD	Annual
Non-cash expense related to foreign operations	`NonCashExpenseRelatedToForeignOperations`	$77.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.46M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-363.00K	USD	Annual
Inventory equipment	`IncreaseDecreaseInInventories`	$-2.30M	USD	Annual
Inventory equipment	`IncreaseDecreaseInInventories`	$131.00K	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$100.00K	USD	Annual
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-818.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.50M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.65M	USD	Annual
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$-516.00K	USD	Annual
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$235.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$794.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.15M	USD	Annual
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	$2.83M	USD	Annual
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	$6.08M	USD	Annual
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$166.00K	USD	Annual
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$1.74M	USD	Annual
Cash received on transfer of notes receivable to partners	`CashReceivedOnTransferOfNotesReceivableToPartners`	$4.95M	USD	Annual
Cash received on transfer of notes receivable to partners	`CashReceivedOnTransferOfNotesReceivableToPartners`	-	USD	Annual
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$604.00K	USD	Annual
Investment in equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$1.43M	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$2.23M	USD	Annual
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$5.34M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$116.00K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.51M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.16M	USD	Annual
Proceeds from debt payable to third parties	`ProceedsFromShortTermDebt`	$1.25M	USD	Annual
Proceeds from debt payable to third parties	`ProceedsFromShortTermDebt`	$5.62M	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$2.43M	USD	Annual
Repayment of debt payable to third parties	`RepaymentsOfShortTermDebt`	$6.06M	USD	Annual
Proceeds from issuance of common stock in public offering, net	`ProceedsFromIssuanceOfCommonStock`	$7.54M	USD	Annual
Proceeds from issuance of common stock in public offering, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of common stock from stock option awards	`ProceedsFromIssuanceOfCommonStockFromStockOptionAwards`	$66.00K	USD	Annual
Proceeds from issuance of common stock from stock option awards	`ProceedsFromIssuanceOfCommonStockFromStockOptionAwards`	-	USD	Annual
Payments of tax withholdings related to cashless exercises of stock option awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$168.00K	USD	Annual
Payments of tax withholdings related to cashless exercises of stock option awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.00M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.18M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.54M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$20.66M	USD	Annual
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.39M	USD	Point-in-time
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 end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.39M	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 paid for income taxes	`IncomeTaxesPaid`	$290.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$143.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$74.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$43.00K	USD	Annual
Issuance of common stock for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$570.00K	USD	Annual
Issuance of common stock for services rendered	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$65.00K	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$29.94M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$7.60M	USD	Point-in-time
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-103.00K	USD	Annual
Issuance of common stock from stock options awards, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	383,350.00	shares	Annual
Issuance of common stock from stock options awards, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	31,276.00	shares	Annual
Issuance of common stock for services rendered	`StockIssuedDuringPeriodValueIssuedForServices`	$570.00K	USD	Annual
Issuance of common stock for services rendered	`StockIssuedDuringPeriodValueIssuedForServices`	$65.00K	USD	Annual
Issuance of common stock in public offering, net	`StockIssuedDuringPeriodValueNewIssues`	$7.54M	USD	Annual
Issuance of common stock in public offering, net, shares	`StockIssuedDuringPeriodSharesNewIssues`	5.46M	shares	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$283.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$353.00K	USD	Annual
Net income	`NetIncomeLoss`	$9.66M	USD	Annual
Net income	`NetIncomeLoss`	$3.90M	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$77.00K	USD	Annual
Ending Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$29.94M	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.