# EDGAR Filing Document

**Accession Number:** 0000849145
**File Stem:** 0001792549-23-000002
**Filing Date:** 2023-3
**Character Count:** 8874
**Document Hash:** 2c3a729cdcc939b228adda779f030ddc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001792549-23-000002.hdr.sgml**: 20230316

**ACCESSION NUMBER**: 0001792549-23-000002

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230314

**FILED AS OF DATE**: 20230316

**DATE AS OF CHANGE**: 20230316

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** McBirney Collin
- **CENTRAL INDEX KEY:** 0001792547

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39471
- **FILM NUMBER:** 23739655

**MAIL ADDRESS:**
- **STREET 1:** 544 EUCLID STREET
- **CITY:** SANTA MONICA
- **STATE:** CA
- **ZIP:** 90402
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Topline Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001792549
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39471
- **FILM NUMBER:** 23739656

**BUSINESS ADDRESS:**
- **STREET 1:** 544 EUCLID STREET
- **CITY:** SANTA MONICA
- **STATE:** CA
- **ZIP:** 90402
- **BUSINESS PHONE:** 310.804.0737

**MAIL ADDRESS:**
- **STREET 1:** 544 EUCLID STREET
- **CITY:** SANTA MONICA
- **STATE:** CA
- **ZIP:** 90402
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Heritage Global Inc.
- **CENTRAL INDEX KEY:** 0000849145
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **IRS NUMBER:** 592291344
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 12625 HIGH BLUFF DRIVE
- **STREET 2:** SUITE 305
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130
- **BUSINESS PHONE:** 858-847-0655

**MAIL ADDRESS:**
- **STREET 1:** 12625 HIGH BLUFF DRIVE
- **STREET 2:** SUITE 305
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Counsel RB Capital Inc.
- **DATE OF NAME CHANGE:** 20110121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** C2 Global Technologies Inc
- **DATE OF NAME CHANGE:** 20050812

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ACCERIS COMMUNICATIONS INC
- **DATE OF NAME CHANGE:** 20040220

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Topline Capital Management, LLC<br><sub>(Last) (First) (Middle)</sub><br>544 EUCLID STREET<br><sub>(Street)</sub><br>SANTA MONICA, CA 90402<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-14 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_See Explanation in Footnotes_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Heritage Global Inc. [ HGBL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>McBirney Collin<br><sub>(Last) (First) (Middle)</sub><br>544 EUCLID STREET<br><sub>(Street)</sub><br>SANTA MONICA, CA 90402<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-14 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_See Explanation in Footnotes_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Heritage Global Inc. [ HGBL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2023-03-14 |  | S |  | 259238 | D | $2.9 | 4160762 | I<sup>(1)(2)</sup> | By Topline Capital Partners, LP<sup>(3)</sup> |
| Common Stock | 2023-03-15 |  | S |  | 81795 | D | $2.9 | 4078967 | I<sup>(1)(2)</sup> | By Topline Capital Partners, LP<sup>(3)</sup> |
| Common Stock | 2023-03-16 |  | S |  | 48113 | D | $2.82 | 4030854 | I<sup>(1)(2)</sup> | By Topline Capital Partners, LP<sup>(3)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) The reporting persons are (i) Topline Capital Management, LLC, an exempt reporting adviser ("TCM"), and (ii) Collin McBirney, TCM's managing member.

(2) Each reporting person may be deemed to beneficially own more than 10% of the issuer's outstanding shares of Common Stock. Each reporting person disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any reporting person is the beneficial owner of such shares of Common Stock for purposes of Section 16 or for any other purpose.

(3) The shares of Common Stock reported in Table I of this Form 4 are beneficially owned by Topline Capital Partners, LP, a Delaware limited partnership (the "Fund"). As a greater than 10% beneficial owner, the Fund is separately reporting its holdings in the issuer's securities on a Form 4 filed concurrently herewith. Each of TCM, as the investment manager and general partner of the Fund, and Mr. Mc Birney, as managing member of TCM, may be deemed to be the beneficial owner of the shares of common stock beneficially owned by the Fund.

**Signature:** Topline Capital Management, LLC,  By: Collin McBirney, its Managing Member  
**Date:** 2023-03-16

**Signature:** Collin McBirney  
**Date:** 2023-03-16

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**