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Subsequent Events
12 Months Ended
Dec. 31, 2011
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

Note 16 – Subsequent Events

 

The Company has evaluated its operations during the period subsequent to December 31, 2011 and has one non-recognized subsequent event.

 

On February 29, 2012, the Company completed the acquisition of Heritage Global Partners, Inc. (“HGP”), a full-service, global auction and asset advisory firm. The Company acquired 100% of the outstanding equity of HGP in return for consideration consisting of 1,000,000 common shares of the Company, 625,000 options to purchase common shares of the Company with an exercise price of $2.00 per share, cash of $3,000 and promissory notes in the aggregate amount of $1,000. Following the transaction, the Company entered into employment agreements with the two principals and former owners of HGP.