10-Q Filing

Heritage Global Inc. CIK: 849145 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-027517`
Period End Date	20210331
Filing Date	20210513
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	hgbl-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 28 Cash Flow Statement 64 Stockholders Equity 15

Balance Sheet 70 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`	$15.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.39M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	568.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.30M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	568.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.50M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	568.00	shares	Point-in-time
Current portion of notes receivable, net	`NotesAndLoansReceivableNetCurrent`	$2.04M	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, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory equipment	`InventoryNet`	$235.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventory equipment	`InventoryNet`	$91.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$447.00K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	35.28M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	35.65M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$498.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.28M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.65M	shares	Point-in-time
Non-current portion of notes receivable, net	`NotesAndLoansReceivableNetNoncurrent`	$748.00K	USD	Point-in-time
Non-current portion of notes receivable, net	`NotesAndLoansReceivableNetNoncurrent`	$1.56M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.40M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$2.40M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$830.00K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$963.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$130.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$132.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.06M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwillOne`	$3.12M	USD	Point-in-time
Goodwill	`Goodwill`	$5.58M	USD	Point-in-time
Goodwill	`Goodwill`	$5.58M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$4.45M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$4.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$246.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$250.00K	USD	Point-in-time
Total assets	`Assets`	$38.99M	USD	Point-in-time
Total assets	`Assets`	$44.55M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$13.61M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.20M	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$301.00K	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$380.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.99M	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$623.00K	USD	Point-in-time
Non-current portion of lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$564.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.07M	USD	Point-in-time
Preferred stock, $10.00 par value, authorized 10,000,000 shares; issued and outstanding 568 shares of Series N as of March 31, 2021 and December 31, 2020	`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 as of March 31, 2021 and December 31, 2020	`PreferredStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 35,647,477 shares as of March 31, 2021 and 35,281,183 as of December 31, 2020	`CommonStockValue`	$353.00K	USD	Point-in-time
Common stock, $0.01 par value, authorized 300,000,000 shares; issued and outstanding 35,647,477 shares as of March 31, 2021 and 35,281,183 as of December 31, 2020	`CommonStockValue`	$357.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$293.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$293.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-262.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-263.82M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$30.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$29.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$11.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$11.85M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$44.55M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$38.99M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.24M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$7.10M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.47M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.97M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$90.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$91.00K	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$4.15M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$6.05M	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`	$1.05M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$94.00K	USD	1 Quarter
Interest and other expense, net	`InterestAndOtherExpenseNet`	$27.00K	USD	1 Quarter
Interest and other expense, net	`InterestAndOtherExpenseNet`	$-3.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$67.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.05M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$17.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$29.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$38.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.03M	USD	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	34.79M	shares	1 Quarter
Weighted average common shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.75M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.53M	shares	1 Quarter
Weighted average common shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.20M	shares	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$38.00K	USD	1 Quarter
Net income	`ProfitLoss`	$1.03M	USD	1 Quarter
Amortization of deferred issuance costs and fees	`AmortizationOfFinancingCosts`	$59.00K	USD	1 Quarter
Amortization of deferred issuance costs and fees	`AmortizationOfFinancingCosts`	$49.00K	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`	$133.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$90.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$91.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-48.00K	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`	$143.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$801.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-160.00K	USD	1 Quarter
Inventory equipment	`IncreaseDecreaseInInventories`	$-144.00K	USD	1 Quarter
Inventory equipment	`IncreaseDecreaseInInventories`	$114.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-55.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$333.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.49M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-132.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$-140.00K	USD	1 Quarter
Lease liabilities	`IncreaseDecreaseInLeaseLiabilities`	$-134.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-118.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.83M	USD	1 Quarter
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	$3.58M	USD	1 Quarter
Investment in notes receivable	`PaymentsToAcquireNotesReceivable`	$2.49M	USD	1 Quarter
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$421.00K	USD	1 Quarter
Payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$929.00K	USD	1 Quarter
Cash received on transfer of notes receivable to partners	`CashReceivedOnTransferOfNotesReceivableToPartners`	-	USD	1 Quarter
Cash received on transfer of notes receivable to partners	`CashReceivedOnTransferOfNotesReceivableToPartners`	$3.99M	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`	-	USD	1 Quarter
Cash distributions from equity method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$136.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$581.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.59M	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`	$4.52M	USD	1 Quarter
Repayment of debt payable to third party	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Proceeds from issuance of common stock from stock option awards	`ProceedsFromIssuanceOfCommonStockFromStockOptionAwards`	$85.00K	USD	1 Quarter
Proceeds from issuance of common stock from stock option awards	`ProceedsFromIssuanceOfCommonStockFromStockOptionAwards`	-	USD	1 Quarter
Payments of tax withholdings related to cashless exercises of stock option awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$203.00K	USD	1 Quarter
Payments of tax withholdings related to cashless exercises of stock option awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-118.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-98.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-7.53M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$365.00K	USD	1 Quarter
Cash and cash equivalents as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.85M	USD	Point-in-time
Cash and cash equivalents as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.73M	USD	Point-in-time
Cash and cash equivalents as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.09M	USD	Point-in-time
Cash and cash equivalents as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.39M	USD	Point-in-time
Cash and cash equivalents as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.85M	USD	Point-in-time
Cash and cash equivalents as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.73M	USD	Point-in-time
Cash and cash equivalents as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.09M	USD	Point-in-time
Cash and cash equivalents as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.39M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$29.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$30.92M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$29.94M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.96M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-2.00K	USD	1 Quarter
Issuance of common stock from stock option awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-120.00K	USD	1 Quarter
Issuance of common stock from stock options awards, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	492,875.00	shares	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$75.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$67.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$38.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.03M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$30.92M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$29.94M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.96M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.85M	USD	Point-in-time

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