Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Note 16 – Subsequent Events

The Company has evaluated events subsequent to December 31, 2017 for potential recognition or disclosure in its consolidated financial statements.

On January 30, 2018, Heritage Global LLC (“HGLLC”) settled a long-standing litigation matter that was commenced against the predecessor in interest of HGLLC. The portion of the settlement attributable to HGLLC’s predecessor in interest was paid on behalf of HGLLC by 54 Finance, LLC (“54 Finance”) (an affiliate of a co-defendant in the litigation) in consideration of a Promissory Note dated January 30, 2018 (the “Note”) from HGLLC in the amount of $1,260,000. Refer to Note 9 for further discussion.  

There have been no other material subsequent events requiring disclosure in these financial statements.