$HGBL
Heritage Global Inc.

2015 Q4 Form 10-K Financial Statement

#000156459016014988 Filed on March 17, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2015 2014 Q4
Revenue $7.790M $17.43M $9.090M
YoY Change -14.3% -12.78% 266.53%
Cost Of Revenue $4.410M $3.125M $10.28M
YoY Change -57.1% -35.99% 879.05%
Gross Profit $3.380M $14.31M -$1.190M
YoY Change -384.03% -5.28% -183.22%
Gross Profit Margin 43.39% 82.07% -13.09%
Selling, General & Admin $3.820M $12.77M $3.760M
YoY Change 1.6% 14.23% 56.02%
% of Gross Profit 113.02% 89.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $90.00K $49.00K $210.0K
YoY Change -57.14% 113.04% 90.91%
% of Gross Profit 2.66% 0.34%
Operating Expenses $3.900M $12.77M -$480.0K
YoY Change -912.5% 14.23% -119.05%
Operating Profit -$520.0K -$10.35M -$710.0K
YoY Change -26.76% 444.95% -34.86%
Interest Expense $150.0K $349.0K $660.0K
YoY Change -77.27% -29.49% -386.96%
% of Operating Profit
Other Income/Expense, Net $300.0K $69.00K $50.00K
YoY Change 500.0% 32.69%
Pretax Income -$5.510M -$10.41M -$10.00K
YoY Change 55000.0% 480.69% -99.24%
Income Tax -$10.00K $15.00K $0.00
% Of Pretax Income
Net Earnings -$5.500M -$10.42M -$170.0K
YoY Change 3135.29% -60.7% -96.42%
Net Earnings / Revenue -70.6% -59.78% -1.87%
Basic Earnings Per Share -$0.37
Diluted Earnings Per Share -$193.2K -$0.37 -$6.035K
COMMON SHARES
Basic Shares Outstanding 28.25M
Diluted Shares Outstanding 28.25M

Balance Sheet

Concept 2015 Q4 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.780M $2.780M $3.810M
YoY Change -27.03% -27.03% 17.96%
Cash & Equivalents $2.777M $2.780M $3.633M
Short-Term Investments $0.00 $0.00 $170.0K
Other Short-Term Assets $450.0K $450.0K $590.0K
YoY Change -23.73% -23.73% -68.11%
Inventory $395.0K $400.0K $139.0K
Prepaid Expenses
Receivables $640.0K $640.0K $2.860M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.264M $4.260M $7.389M
YoY Change -42.29% -42.35% 0.94%
LONG-TERM ASSETS
Property, Plant & Equipment $110.0K $110.0K $150.0K
YoY Change -26.67% -26.67% 400.0%
Goodwill $6.158M $8.846M
YoY Change -30.39% 66.87%
Intangibles $4.382M $7.657M
YoY Change -42.77%
Long-Term Investments $17.00K $20.00K $1.134M
YoY Change -98.5% -98.23% -64.0%
Other Assets $173.0K $3.870M $186.0K
YoY Change -6.99% -42.15% -99.37%
Total Long-Term Assets $14.54M $14.54M $24.48M
YoY Change -40.62% -40.6% -42.64%
TOTAL ASSETS
Total Short-Term Assets $4.264M $4.260M $7.389M
Total Long-Term Assets $14.54M $14.54M $24.48M
Total Assets $18.80M $18.80M $31.87M
YoY Change -41.0% -41.01% -36.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.670M $6.670M $7.230M
YoY Change -7.75% -7.75% 70.92%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.721M $0.00 $3.510M
YoY Change -50.97%
Long-Term Debt Due $1.720M $1.720M $3.510M
YoY Change -51.0% -51.0% -12.03%
Total Short-Term Liabilities $9.356M $9.360M $11.54M
YoY Change -18.91% -18.89% 9.89%
LONG-TERM LIABILITIES
Long-Term Debt $2.500M $2.500M $2.500M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $2.590M $2.590M $3.400M
YoY Change -23.82% -23.82%
Total Long-Term Liabilities $5.090M $5.090M $5.900M
YoY Change -13.73% -13.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.356M $9.360M $11.54M
Total Long-Term Liabilities $5.090M $5.090M $5.900M
Total Liabilities $15.41M $15.41M $18.39M
YoY Change -16.23% -16.2% 75.17%
SHAREHOLDERS EQUITY
Retained Earnings -$280.9M -$270.5M
YoY Change 3.85%
Common Stock $285.0K $282.0K
YoY Change 1.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.394M $3.390M $13.48M
YoY Change
Total Liabilities & Shareholders Equity $18.80M $18.80M $31.87M
YoY Change -41.0% -41.01% -36.26%

Cashflow Statement

Concept 2015 Q4 2015 2014 Q4
OPERATING ACTIVITIES
Net Income -$5.500M -$10.42M -$170.0K
YoY Change 3135.29% -60.7% -96.42%
Depreciation, Depletion And Amortization $90.00K $49.00K $210.0K
YoY Change -57.14% 113.04% 90.91%
Cash From Operating Activities $10.00K -$840.0K $340.0K
YoY Change -97.06% -235.48% -409.09%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $9.000K -$120.0K
YoY Change -91.67% -92.91%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $110.0K $2.700M -$420.0K
YoY Change -126.19% -300.0% -940.0%
Cash From Investing Activities $100.0K $2.690M -$540.0K
YoY Change -118.52% -281.76% -1180.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -2.680M -570.0K
YoY Change -100.0% -309.38% -55.47%
NET CHANGE
Cash From Operating Activities 10.00K -840.0K 340.0K
Cash From Investing Activities 100.0K 2.690M -540.0K
Cash From Financing Activities 0.000 -2.680M -570.0K
Net Change In Cash 110.0K -830.0K -770.0K
YoY Change -114.29% -297.62% -42.54%
FREE CASH FLOW
Cash From Operating Activities $10.00K -$840.0K $340.0K
Capital Expenditures -$10.00K $9.000K -$120.0K
Free Cash Flow $20.00K -$849.0K $460.0K
YoY Change -95.65% -272.21% -518.18%

Facts In Submission

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NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2682000
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1280000
CY2015 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-828000
CY2014 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
420000
CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-28000
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
0
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3213000
CY2014 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
639000
CY2015 us-gaap Interest Paid
InterestPaid
178000
CY2014 us-gaap Interest Paid
InterestPaid
168000
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of estimates</p> <p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of the Company&#8217;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.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Significant estimates include the assessment of collectability of revenue recognized and the valuation of accounts receivable, inventory, investments, goodwill and intangible assets, liabilities, contingent consideration, deferred income tax assets and liabilities, 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.</p></div>
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Certain prior year balances within the consolidated financial statements have been reclassified to conform to current year presentation.&nbsp;&nbsp;</p></div>
CY2015Q4 hgbl Due To Auction Clients Current
DueToAuctionClientsCurrent
3457000
CY2015 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
2688000
CY2014 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2014 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
15609000
CY2014 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-26506000
CY2015Q4 hgbl Real Estate List Price
RealEstateListPrice
4900000
CY2015 hgbl Real Estate Inventory Pre Write Down Carrying Value
RealEstateInventoryPreWriteDownCarryingValue
6500000
CY2015 hgbl Real Estate Inventory Post Write Down Carrying Value
RealEstateInventoryPostWriteDownCarryingValue
3700000
CY2015 hgbl Asset Liquidation Investment Summarized Financial Information Revenue
AssetLiquidationInvestmentSummarizedFinancialInformationRevenue
1007000
CY2014 hgbl Asset Liquidation Investment Summarized Financial Information Revenue
AssetLiquidationInvestmentSummarizedFinancialInformationRevenue
2177000
CY2015Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
194000
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
1055000
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Noncurrent Assets
EquityMethodInvestmentSummarizedFinancialInformationNoncurrentAssets
40000
CY2015Q4 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities
291000
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities
117000
CY2015 hgbl Earnings Of Other Equity Method Investments
EarningsOfOtherEquityMethodInvestments
5000
CY2014 hgbl Earnings Of Other Equity Method Investments
EarningsOfOtherEquityMethodInvestments
261000
CY2015 us-gaap Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
The value of each Class N preferred share is $1,000, and each share is convertible to 40 common shares at the rate of $25 per common share.
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
340000
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
401000
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
230000
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
251000
CY2015 us-gaap Depreciation
Depreciation
49000
CY2014 us-gaap Depreciation
Depreciation
23000
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6593000
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6593000
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1899000
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1373000
CY2015 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
2749000
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1945000
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5220000
CY2015Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
9030000
CY2014Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
9030000
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
260000
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
245000
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
245000
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
240000
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
236000
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
719000
CY2013Q4 us-gaap Goodwill
Goodwill
5301000
CY2014 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
3545000
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
44000
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
31000
CY2015Q4 us-gaap Interest Payable Current
InterestPayableCurrent
76000
CY2014Q4 hgbl Due To Auction Clients Current
DueToAuctionClientsCurrent
2353000
CY2015Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1421000
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1156000
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
645000
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
957000
CY2015Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
128000
CY2014Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
140000
CY2015Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
108000
CY2014Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
503000
CY2015Q4 hgbl Due To Joint Venture Partners Current
DueToJointVenturePartnersCurrent
69000
CY2014Q4 hgbl Due To Joint Venture Partners Current
DueToJointVenturePartnersCurrent
1020000
CY2015Q4 hgbl Asset Liquidation Expense
AssetLiquidationExpense
246000
CY2014Q4 hgbl Asset Liquidation Expense
AssetLiquidationExpense
540000
CY2014Q4 us-gaap Interest Payable Current
InterestPayableCurrent
94000
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
523000
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
462000
CY2014Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
525000
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1721000
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
3510000
CY2015Q4 us-gaap Loans Payable
LoansPayable
4221000
CY2014Q4 us-gaap Loans Payable
LoansPayable
6010000
CY2015 us-gaap Related Party Transaction Terms And Manner Of Settlement
RelatedPartyTransactionTermsAndMannerOfSettlement
The Company’s Related Party Debt (the “Street Capital Loan”), which is due on demand, was originally entered into in 2003 and accrued interest at 10% per annum compounded quarterly from the date funds were advanced. The Street Capital Loan is secured by the assets of the Company. In the second quarter of 2014, following Street Capital’s distribution of its ownership interest in HGI to Street Capital shareholders as a dividend in kind, the unpaid balance of the Street Capital Loan began accruing interest at a rate per annum equal to the lesser of the Wall St. Journal (“WSJ”) prime rate + 2.0%, or the maximum rate allowable by law. As of December 31, 2015 and 2014, the interest rate on the loan was 5.50% and 5.25%, respectively.
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
372000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
226000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
166000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
127000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
6000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
897000
CY2014Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2015 hgbl Operating Loss Carryforwards Expiration
OperatingLossCarryforwardsExpiration
Substantially all of the net operating loss carryforwards and unused minimum tax credit carry forwards expire between 2024 and 2034.
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4740000
CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
24102000
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
28842000
CY2015 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
3080000
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
31922000
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-4130000
CY2014 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-694000
CY2015 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
17000
CY2014 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
56000
CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1162000
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
537000
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3080000
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
24102000
CY2014 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
55000
CY2015 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-114000
CY2014 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
666000
CY2013 us-gaap Open Tax Year
OpenTaxYear
2013
CY2012 us-gaap Open Tax Year
OpenTaxYear
2012
CY2015 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. These rules, in general, provide that an ownership change occurs when the percentage shareholdings of 5% direct or indirect stockholders of a loss corporation have, in aggregate, increased by more than 50 percentage points during the immediately preceding three years. Restrictions in net operating loss carry forwards occurred in 2001 as a result of the acquisition of the Company by Street Capital. Further restrictions may have occurred as a result of subsequent changes in the share ownership and capital structure of the Company and Street Capital and disposition of business interests by the Company. Pursuant to Section 382 of the Internal Revenue Code, the annual usage of the Company’s net operating loss carry forwards was limited to approximately $2.5 million per annum until 2008 and $1.7 million per annum thereafter. There is no certainty that the application of these “change in ownership” rules may not recur, resulting in further restrictions on the Company’s income tax loss carry forwards existing at a particular time. In addition, further restrictions, reductions in, or expiration of net operating loss and net capital loss carry forwards may occur through future merger, acquisition and/or disposition transactions or failure to continue a significant level of business activities. Any such additional limitations could require the Company to pay income taxes on its future earnings and record an income tax expense to the extent of such liability, despite the existence of such tax loss carry forwards.
CY2011 us-gaap Open Tax Year
OpenTaxYear
2011
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
30073000
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
29437000
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1019000
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
870000
CY2015Q4 hgbl Deferred Tax Assets Write Down Of Real Estate Inventory
DeferredTaxAssetsWriteDownOfRealEstateInventory
1550000
CY2014Q4 hgbl Deferred Tax Assets Write Down Of Real Estate Inventory
DeferredTaxAssetsWriteDownOfRealEstateInventory
456000
CY2014Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards General Business
DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness
186000
CY2015Q4 hgbl Deferred Tax Assets Mark To Market Of Contingent Consideration
DeferredTaxAssetsMarkToMarketOfContingentConsideration
91000
CY2015Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
32000
CY2014Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
52000
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
30962000
CY2014Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
27882000
CY2015Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
960000
CY2014Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
960000
CY2015 hgbl Reduction In Deferred Tax Assets
ReductionInDeferredTaxAssets
12000000
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12100000
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12100000
CY2015 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
325000
CY2014 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
285000
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
0
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
0
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0099
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0069
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0088
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.94
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.00
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2015 hgbl Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeitures Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeituresRate
0.00
CY2014 hgbl Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeitures Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeituresRate
0.00
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2165000
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2130000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
100000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
40000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
47500
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
17500
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2175000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1743750
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1330000
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.71
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.75
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.42
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.70
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.90
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
1.18
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.00
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.70
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.78
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.75
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.29
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.36
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
835000
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.48
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
431250
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.13
CY2015Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
100000
CY2015 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
800000
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
800000
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y1M6D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y9M18D
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9000
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
16000
CY2015 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
300000
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
300000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
150000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
150000
CY2015Q4 hgbl Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Vested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsVestedNumber
150000
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
0.38
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0.38
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
0.38
CY2015Q4 hgbl Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedWeightedAverageGrantDateFairValue
0.38

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