$HGBL
Heritage Global Inc.

2016 Q4 Form 10-Q Financial Statement

#000156459016027959 Filed on November 07, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $5.870M $8.582M $7.790M
YoY Change -24.65% 128.24% -14.3%
Cost Of Revenue $2.090M $1.882M $4.410M
YoY Change -52.61% 188.21% -57.1%
Gross Profit $3.780M $6.700M $3.380M
YoY Change 11.83% 115.64% -384.03%
Gross Profit Margin 64.4% 78.07% 43.39%
Selling, General & Admin $3.070M $2.780M $3.820M
YoY Change -19.63% -10.03% 1.6%
% of Gross Profit 81.22% 41.49% 113.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.00K $80.00K $90.00K
YoY Change -11.11% -52.94% -57.14%
% of Gross Profit 2.12% 1.19% 2.66%
Operating Expenses $3.150M $2.850M $3.900M
YoY Change -19.23% -7.77% -912.5%
Operating Profit $630.0K -$402.0K -$520.0K
YoY Change -221.15% -88.41% -26.76%
Interest Expense -$30.00K $17.00K $150.0K
YoY Change -120.0% -72.13% -77.27%
% of Operating Profit -4.76%
Other Income/Expense, Net -$910.0K $16.00K $300.0K
YoY Change -403.33% 500.0%
Pretax Income -$310.0K -$360.0K -$5.510M
YoY Change -94.37% -90.05% 55000.0%
Income Tax -$10.00K $11.00K -$10.00K
% Of Pretax Income
Net Earnings -$300.0K -$371.0K -$5.500M
YoY Change -94.55% -89.8% 3135.29%
Net Earnings / Revenue -5.11% -4.32% -70.6%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$10.55K -$0.01 -$193.2K
COMMON SHARES
Basic Shares Outstanding 28.51M 28.43M
Diluted Shares Outstanding 28.43M

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.530M $3.340M $2.780M
YoY Change -8.99% 25.56% -27.03%
Cash & Equivalents $2.530M $3.341M $2.777M
Short-Term Investments $0.00
Other Short-Term Assets $390.0K $340.0K $450.0K
YoY Change -13.33% -40.35% -23.73%
Inventory $263.0K $890.0K $395.0K
Prepaid Expenses
Receivables $1.250M $1.110M $640.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.433M $5.670M $4.264M
YoY Change 3.96% 28.28% -42.29%
LONG-TERM ASSETS
Property, Plant & Equipment $156.0K $160.0K $110.0K
YoY Change 41.82% 33.33% -26.67%
Goodwill $6.158M $6.158M $6.158M
YoY Change 0.0% -30.39%
Intangibles $4.122M $4.183M $4.382M
YoY Change -5.93% -42.77%
Long-Term Investments $17.00K
YoY Change -98.5%
Other Assets $275.0K $282.0K $173.0K
YoY Change 58.96% -92.5% -6.99%
Total Long-Term Assets $10.71M $10.78M $14.54M
YoY Change -26.32% -46.44% -40.62%
TOTAL ASSETS
Total Short-Term Assets $4.433M $5.670M $4.264M
Total Long-Term Assets $10.71M $10.78M $14.54M
Total Assets $15.14M $16.45M $18.80M
YoY Change -19.46% -32.99% -41.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.750M $8.190M $6.670M
YoY Change 1.2% 21.87% -7.75%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $1.721M
YoY Change -100.0% -50.97%
Long-Term Debt Due $660.0K $1.090M $1.720M
YoY Change -61.63% -74.05% -51.0%
Total Short-Term Liabilities $8.570M $10.39M $9.356M
YoY Change -8.4% -15.35% -18.91%
LONG-TERM LIABILITIES
Long-Term Debt $350.0K $460.0K $2.500M
YoY Change -86.0% 0.0%
Other Long-Term Liabilities $1.770M $880.0K $2.590M
YoY Change -31.66% -64.37% -23.82%
Total Long-Term Liabilities $2.120M $1.340M $5.090M
YoY Change -58.35% -45.75% -13.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.570M $10.39M $9.356M
Total Long-Term Liabilities $2.120M $1.340M $5.090M
Total Liabilities $11.65M $12.68M $15.41M
YoY Change -24.39% -19.22% -16.23%
SHAREHOLDERS EQUITY
Retained Earnings -$280.9M -$280.6M -$280.9M
YoY Change 0.0% 3.85%
Common Stock $285.0K $285.0K $285.0K
YoY Change 0.0% 1.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.494M $3.769M $3.394M
YoY Change
Total Liabilities & Shareholders Equity $15.14M $16.45M $18.80M
YoY Change -19.46% -32.99% -41.0%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income -$300.0K -$371.0K -$5.500M
YoY Change -94.55% -89.8% 3135.29%
Depreciation, Depletion And Amortization $80.00K $80.00K $90.00K
YoY Change -11.11% -52.94% -57.14%
Cash From Operating Activities -$60.00K $4.240M $10.00K
YoY Change -700.0% 821.74% -97.06%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$10.00K -$10.00K
YoY Change 0.0% -91.67%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $110.0K
YoY Change -100.0% -126.19%
Cash From Investing Activities -$10.00K -$10.00K $100.0K
YoY Change -110.0% -118.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -740.0K -2.930M 0.000
YoY Change 474.51% -100.0%
NET CHANGE
Cash From Operating Activities -60.00K 4.240M 10.00K
Cash From Investing Activities -10.00K -10.00K 100.0K
Cash From Financing Activities -740.0K -2.930M 0.000
Net Change In Cash -810.0K 1.300M 110.0K
YoY Change -836.36% -2700.0% -114.29%
FREE CASH FLOW
Cash From Operating Activities -$60.00K $4.240M $10.00K
Capital Expenditures -$10.00K -$10.00K -$10.00K
Free Cash Flow -$50.00K $4.250M $20.00K
YoY Change -350.0% 823.91% -95.65%

Facts In Submission

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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-71000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
2586000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
2500000
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
525000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
1099000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
775000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1323000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
2419000
hgbl Payment Of Contingent Consideration
PaymentOfContingentConsideration
627000
hgbl Payment Of Contingent Consideration
PaymentOfContingentConsideration
513000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-3347000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2682000
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
559000
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-944000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
5000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-32000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3633000
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2657000
us-gaap Income Taxes Paid
IncomeTaxesPaid
30000
us-gaap Income Taxes Paid
IncomeTaxesPaid
70000
us-gaap Interest Paid
InterestPaid
167000
us-gaap Interest Paid
InterestPaid
178000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom: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="text-align:justify;margin-top:12pt;margin-bottom: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 affect 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>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications </p> <p style="text-align:justify;margin-top:6pt;margin-bottom: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%;">Certain prior year balances within the condensed consolidated financial statements have been reclassified to conform to the current year presentation.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom: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;">The critical accounting policies used in the preparation of our audited consolidated financial statements are discussed in our Annual Report on Form 10-K for the year ended December 31, 2015. There have been no changes to these policies in the first nine months of 2016.</p></div>
CY2016Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
40
CY2016Q1 hgbl Real Estate List Price
RealEstateListPrice
4100000
us-gaap Lessor Leasing Arrangements Operating Leases Term Of Contract
LessorLeasingArrangementsOperatingLeasesTermOfContract
P5Y
hgbl Annual Lease Payments
AnnualLeasePayments
700000
CY2016Q3 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
10000
CY2015Q3 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
0
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
0
CY2016Q3 hgbl Sale Of Real Estate Inventory
SaleOfRealEstateInventory
4100000
CY2016Q3 hgbl Real Estate Inventory Post Write Down Carrying Value
RealEstateInventoryPostWriteDownCarryingValue
3700000
CY2016Q3 hgbl Closing Cost On Sale Of Real Estate Inventory
ClosingCostOnSaleOfRealEstateInventory
300000
CY2016Q3 hgbl Profit On Sale Of Real Estate Inventory
ProfitOnSaleOfRealEstateInventory
100000
CY2015Q3 hgbl Real Estate Inventory Post Write Down Carrying Value
RealEstateInventoryPostWriteDownCarryingValue
3800000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
70000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
187500
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2175000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
40000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
20000
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1997500
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1862500
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.70
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.24
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.12
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.83
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.15
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.77
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.86
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
150000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
75000
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
75000
CY2016Q3 hgbl Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Vested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsVestedNumber
225000
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
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
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
CY2016Q3 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
CY2016Q3 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
us-gaap Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
The Company’s Class 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.
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
9538
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1900000
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1945000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
199000
CY2016Q3 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
0
CY2016Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1746000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
61000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
245000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
245000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
240000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
236000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
719000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2016Q3 us-gaap Debt Current
DebtCurrent
1090000
CY2015Q4 us-gaap Debt Current
DebtCurrent
1721000
CY2015Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
0
CY2016Q3 us-gaap Loans Payable
LoansPayable
1550000
CY2015Q4 us-gaap Loans Payable
LoansPayable
4221000
us-gaap Related Party Transaction Terms And Manner Of Settlement
RelatedPartyTransactionTermsAndMannerOfSettlement
The Company entered into a related party loan (the “Street Capital Loan”) with Street Capital Group Inc. (“Street Capital”) in 2003. The Street Capital Loan accrued interest at 10% per annum compounded quarterly from the date funds were advanced. In 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.
CY2016Q3 us-gaap Assets Fair Value Disclosure Nonrecurring
AssetsFairValueDisclosureNonrecurring
0
CY2016Q3 us-gaap Liabilities Fair Value Disclosure Nonrecurring
LiabilitiesFairValueDisclosureNonrecurring
0
CY2016Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
74000000
CY2016Q3 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
500000
hgbl Operating Loss Carryforwards Expiration
OperatingLossCarryforwardsExpiration
Substantially all of the net operating loss carry forwards and unused minimum tax credit carry forwards expire between 2025 and 2035.
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.
CY2016Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
25000
CY2015Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
81000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
150000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
244000

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