$HGBL
Heritage Global Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022024432 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $13.83M $12.66M $5.991M
YoY Change 83.83% 111.33% -20.86%
Cost Of Revenue $5.147M $5.066M $1.775M
YoY Change 121.57% 185.41% -31.73%
Gross Profit $8.684M $7.595M $4.216M
YoY Change 66.97% 80.15% -15.17%
Gross Profit Margin 62.79% 59.99% 70.37%
Selling, General & Admin $6.419M $5.693M $3.494M
YoY Change 74.57% 62.94% 3.37%
% of Gross Profit 73.92% 74.96% 82.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $136.0K $134.0K $105.0K
YoY Change -18.07% 27.62% 16.67%
% of Gross Profit 1.57% 1.76% 2.49%
Operating Expenses $6.555M $5.693M $3.599M
YoY Change 70.57% 58.18% 4.02%
Operating Profit $2.129M $3.474M $533.0K
YoY Change 56.77% 551.78% -66.94%
Interest Expense $1.001M $1.685M -$90.00K
YoY Change -4270.83% -1972.22% -181.82%
% of Operating Profit 47.02% 48.5% -16.89%
Other Income/Expense, Net
YoY Change
Pretax Income $3.130M $3.453M $527.0K
YoY Change 134.63% 555.22% -67.27%
Income Tax -$6.840M $1.153M $53.00K
% Of Pretax Income -218.53% 33.39% 10.06%
Net Earnings $9.970M $2.300M $474.0K
YoY Change 938.54% 385.23% -62.5%
Net Earnings / Revenue 72.08% 18.17% 7.91%
Basic Earnings Per Share $0.06 $0.01
Diluted Earnings Per Share $0.27 $0.06 $12.78K
COMMON SHARES
Basic Shares Outstanding 36.93M 36.84M 35.81M
Diluted Shares Outstanding 37.22M 37.09M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.67M $17.48M $13.23M
YoY Change -7.01% 32.1% 128.17%
Cash & Equivalents $12.67M $17.48M $13.23M
Short-Term Investments
Other Short-Term Assets $1.113M $1.160M $675.0K
YoY Change -23.56% 71.85% -60.53%
Inventory $4.619M $4.822M $1.383M
Prepaid Expenses
Receivables $988.0K $1.670M $3.388M
Other Receivables $4.505M $1.341M $1.142M
Total Short-Term Assets $23.89M $26.48M $19.82M
YoY Change 2.61% 33.56% 81.02%
LONG-TERM ASSETS
Property, Plant & Equipment $4.347M $1.481M $1.477M
YoY Change 195.51% 0.27% 18.16%
Goodwill $7.446M $7.446M $7.262M
YoY Change 0.0% 2.53%
Intangibles $4.144M $4.250M
YoY Change -9.22%
Long-Term Investments $13.97M $8.499M $3.327M
YoY Change 198.38% 155.46% -9.84%
Other Assets $9.513M $64.00K $161.0K
YoY Change 19314.29% -60.25% -90.47%
Total Long-Term Assets $43.67M $28.54M $25.53M
YoY Change 60.66% 11.79% 61.38%
TOTAL ASSETS
Total Short-Term Assets $23.89M $26.48M $19.82M
Total Long-Term Assets $43.67M $28.54M $25.53M
Total Assets $67.56M $55.02M $45.35M
YoY Change 33.88% 21.31% 69.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.924M $6.323M $8.902M
YoY Change -20.63% -28.97% -5.9%
Accrued Expenses $703.0K $714.0K $498.0K
YoY Change 40.32% 43.37% 8.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.411M $531.0K $531.0K
YoY Change 37.6% 0.0% 279.29%
Total Short-Term Liabilities $16.23M $13.46M $9.931M
YoY Change 14.07% 35.52% -1.28%
LONG-TERM LIABILITIES
Long-Term Debt $871.0K $993.0K $1.469M
YoY Change -35.58% -32.4%
Other Long-Term Liabilities $2.164M $2.293M $2.368M
YoY Change -3.78% -3.17% 3382.35%
Total Long-Term Liabilities $3.035M $3.286M $3.837M
YoY Change -15.72% -14.36% 5542.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.23M $13.46M $9.931M
Total Long-Term Liabilities $3.035M $3.286M $3.837M
Total Liabilities $19.26M $16.74M $13.77M
YoY Change 8.06% 21.62% 27.36%
SHAREHOLDERS EQUITY
Retained Earnings -$245.3M -$255.2M -$261.7M
YoY Change -5.94% -2.48%
Common Stock $369.0K $369.0K $366.0K
YoY Change 0.82% 0.82%
Preferred Stock
YoY Change
Treasury Stock (at cost) $395.0K $296.0K
YoY Change
Treasury Stock Shares $243.5K $183.7K
Shareholders Equity $48.30M $38.27M $31.58M
YoY Change
Total Liabilities & Shareholders Equity $67.56M $55.02M $45.35M
YoY Change 33.88% 21.31% 69.41%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $9.970M $2.300M $474.0K
YoY Change 938.54% 385.23% -62.5%
Depreciation, Depletion And Amortization $136.0K $134.0K $105.0K
YoY Change -18.07% 27.62% 16.67%
Cash From Operating Activities $3.912M $1.452M $164.0K
YoY Change 161.67% 785.37% -95.49%
INVESTING ACTIVITIES
Capital Expenditures $121.0K -$55.00K -$1.390M
YoY Change -6150.0% -96.04%
Acquisitions
YoY Change
Other Investing Activities -$11.27M $1.748M -$5.088M
YoY Change 283.55% -134.36% -4340.0%
Cash From Investing Activities -$11.39M $1.693M -$6.478M
YoY Change 287.41% -126.13% -5498.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.659M -1.739M 2.023M
YoY Change 45.14% -185.96% -1164.74%
NET CHANGE
Cash From Operating Activities 3.912M 1.452M 164.0K
Cash From Investing Activities -11.39M 1.693M -6.478M
Cash From Financing Activities 2.659M -1.739M 2.023M
Net Change In Cash -4.815M 1.406M -4.291M
YoY Change -1340.98% -132.77% -220.2%
FREE CASH FLOW
Cash From Operating Activities $3.912M $1.452M $164.0K
Capital Expenditures $121.0K -$55.00K -$1.390M
Free Cash Flow $3.791M $1.507M $1.554M
YoY Change 153.24% -3.02% -57.31%

Facts In Submission

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CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
-120000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
67000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
1032000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
30922000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
-670000
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
76000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
68000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
587000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
30983000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
25000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
102000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
474000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
31584000
us-gaap Profit Loss
ProfitLoss
5523000
us-gaap Profit Loss
ProfitLoss
2093000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
125000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
39000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5960000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-83000
hgbl Noncash Lease Expense
NoncashLeaseExpense
391000
hgbl Noncash Lease Expense
NoncashLeaseExpense
408000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
400000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
294000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1371000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-405000
us-gaap Share Based Compensation
ShareBasedCompensation
384000
hgbl Increase Decrease Of Payables To Sellers
IncreaseDecreaseOfPayablesToSellers
-561000
hgbl Increase Decrease Of Payables To Sellers
IncreaseDecreaseOfPayablesToSellers
-3308000
hgbl Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-373000
hgbl Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-400000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2571000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4126000
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
625000
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
5856000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
2446000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
3388000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
8068000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1092000
hgbl Return Of Investment In Equity Method Investments
ReturnOfInvestmentInEquityMethodInvestments
2945000
hgbl Return Of Investment In Equity Method Investments
ReturnOfInvestmentInEquityMethodInvestments
0
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
7266000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
94000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1423000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4318000
hgbl Cash Received On Transfer Of Notes Receivable To Partners
CashReceivedOnTransferOfNotesReceivableToPartners
0
hgbl Cash Received On Transfer Of Notes Receivable To Partners
CashReceivedOnTransferOfNotesReceivableToPartners
1961000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3870000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7258000
hgbl Proceeds From Debt Payable To Third Parties
ProceedsFromDebtPayableToThirdParties
0
hgbl Proceeds From Debt Payable To Third Parties
ProceedsFromDebtPayableToThirdParties
1300000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
2307000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
1300000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
2000000
hgbl Proceeds From Issuance Of Common Stock From Stock Option Awards
ProceedsFromIssuanceOfCommonStockFromStockOptionAwards
66000
hgbl Proceeds From Issuance Of Common Stock From Stock Option Awards
ProceedsFromIssuanceOfCommonStockFromStockOptionAwards
221000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
44000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
988000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
296000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2581000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1233000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
3860000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-10151000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13622000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23385000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17482000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13234000
us-gaap Income Taxes Paid
IncomeTaxesPaid
276000
us-gaap Income Taxes Paid
IncomeTaxesPaid
118000
us-gaap Interest Paid Net
InterestPaidNet
106000
us-gaap Interest Paid Net
InterestPaidNet
6000
hgbl Non Cash Change In Right Of Use Assets
NonCashChangeInRightOfUseAssets
630000
hgbl Non Cash Change In Right Of Use Assets
NonCashChangeInRightOfUseAssets
2263000
hgbl Non Cash Change In Lease Liabilities
NonCashChangeInLeaseLiabilities
630000
hgbl Non Cash Change In Lease Liabilities
NonCashChangeInLeaseLiabilities
2263000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Management bases its estimates and judgments on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Significant estimates include the assessment of collectability of revenue recognized and the valuation of accounts receivable and notes receivable, inventory, investments, goodwill and intangible assets, liabilities, deferred income tax assets and liabilities including projecting future years’ taxable income, and stock-based compensation. These estimates have the potential to significantly impact our consolidated financial statements, either because of the significance of the financial statement item to which they relate, or because they require judgment and estimation due to the uncertainty involved in measuring, at a specific point in time, events that are continuous in nature.</span></p>
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.62
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
339125
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.50
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain prior year balances within the consolidated financial statements have been reclassified to conform to current year presentation.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022Q3 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
2100000
CY2021Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
4000000.0
us-gaap Notes Issued1
NotesIssued1
600000
us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
2400000
CY2022Q3 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
100000
CY2022Q3 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
0
CY2021Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
95625
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2193288
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
279500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
95625
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.77
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2038038
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.38
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M17D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
938000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
980163
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.96
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
737000
CY2019Q2 us-gaap Sale Leaseback Transaction Date
SaleLeasebackTransactionDate
The purchase option for both the real estate and machinery and equipment could be exercised at any time on or after December 1, 2019, and before May 31, 2021,
CY2019Q2 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
20000000.0
us-gaap Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
the Company’s shares of Series N preferred shares, each of which is convertible to 40 common shares, have the right to receive dividends or dividend equivalents should the Company declare dividends on its common stock.
CY2022Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
40
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36084696
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35805227
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36014439
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35285128
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1136734
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1285067
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
858538
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1282585
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37221430
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37090294
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36872977
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36567713
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
900000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000
hgbl Number Of Locations
NumberOfLocations
4
CY2020Q4 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P90M
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2933000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2694000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3007000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2750000
CY2019Q1 hgbl Lessee Operating Lease Incremental Borrowing Rate
LesseeOperatingLeaseIncrementalBorrowingRate
0.0525
CY2021Q2 hgbl Lessee Operating Lease Incremental Borrowing Rate
LesseeOperatingLeaseIncrementalBorrowingRate
0.0495
CY2022Q3 hgbl Lessee Operating Lease Incremental Borrowing Rate
LesseeOperatingLeaseIncrementalBorrowingRate
0.055
us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
176000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
705000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
675000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
546000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
531000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
808000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3441000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
434000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3007000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2128000
CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2437000
CY2022Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2437000
CY2021Q4 hgbl Intangible Assets Net Excluding Goodwill One
IntangibleAssetsNetExcludingGoodwillOne
4565000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
315000
CY2022Q3 hgbl Intangible Assets Net Excluding Goodwill One
IntangibleAssetsNetExcludingGoodwillOne
4250000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
105000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
391000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
391000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
263000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
186000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
477000
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1813000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022Q3 us-gaap Goodwill
Goodwill
7446000
CY2021Q4 us-gaap Goodwill
Goodwill
7446000
CY2022Q3 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
531000
CY2021Q4 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
2479000
CY2022Q3 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
993000
CY2021Q4 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
1352000
CY2022Q3 us-gaap Loans Payable
LoansPayable
1524000
CY2021Q4 us-gaap Loans Payable
LoansPayable
3831000
CY2022Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
77800000
hgbl Operating Loss Carryforwards Expiration
OperatingLossCarryforwardsExpiration
Substantially all of the net operating loss carry forwards expire between 2024 and 2037
us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
The Company’s utilization of restricted net operating tax loss carry forwards against future income for tax purposes is restricted pursuant to the “change in ownership” rules in Section 382 of the Internal Revenue Code.The reported tax expense varies from the amount that would be provided by applying the statutory U.S. Federal income tax rate to the income from operations before taxes primarily as a result of the impact of state income taxes.
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3474000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
533000
us-gaap Operating Income Loss
OperatingIncomeLoss
7973000
us-gaap Operating Income Loss
OperatingIncomeLoss
1652000

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