<SEC-DOCUMENT>0001214659-25-007613.txt : 20250514
<SEC-HEADER>0001214659-25-007613.hdr.sgml : 20250514
<ACCEPTANCE-DATETIME>20250514160545
ACCESSION NUMBER:		0001214659-25-007613
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250514
DATE AS OF CHANGE:		20250514

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Heritage Global Inc.
		CENTRAL INDEX KEY:			0000849145
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				592291344
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-40638
		FILM NUMBER:		25945343

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mink Brook Asset Management LLC
		CENTRAL INDEX KEY:			0002052205
		ORGANIZATION NAME:           	
		EIN:				863694437
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		201 SUMMA STREET
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33405
		BUSINESS PHONE:		3143230752

	MAIL ADDRESS:	
		STREET 1:		201 SUMMA STREET
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33405
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Mink Brook Asset Management LLC -->
          <cik>0002052205</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000849145</issuerCik>
        <issuerName>Heritage Global Inc.</issuerName>
        <issuerCusip>42727E103</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>12625 HIGH BLUFF DRIVE</com:street1>
          <com:street2>SUITE 305</com:street2>
          <com:city>SAN DIEGO</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>92130</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Mink Brook Asset Management LLC</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1867021.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1867021.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1867021.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.26</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>(1)This percentage is calculated based upon 35,495,057 shares of common stock outstanding of the Issuer disclosed in the annual 10-K dated March 13, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Mink Brook Partners LP</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>935187.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>935187.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>935187.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>2.63</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>(1)This percentage is calculated based upon 35,495,057 shares of common stock outstanding of the Issuer disclosed in the annual 10-K dated March 13, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Mink Brook Opportunity Fund LP</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>931834.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>931834.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>931834.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>2.63</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>(1)This percentage is calculated based upon 35,495,057 shares of common stock outstanding of the Issuer disclosed in the annual 10-K dated March 13, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Mink Brook Capital GP LLC</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1867021.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1867021.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1867021.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.26</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>(1)This percentage is calculated based upon 35,495,057 shares of common stock outstanding of the Issuer disclosed in the annual 10-K dated March 13, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>William Mueller</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1867021.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1867021.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1867021.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.26</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>(1)This percentage is calculated based upon 35,495,057 shares of common stock outstanding of the Issuer disclosed in the annual 10-K dated March 13, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Heritage Global Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>12625 HIGH BLUFF DRIVE SUITE 305 SAN DIEGO CA 92130</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Mink Brook Asset Management LLC
Mink Brook Partners LP
Mink Brook Opportunity Fund LP
Mink Brook Capital GP LLC
William Mueller</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>201 Summa Street
West Palm Beach, FL 33405</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Mink Brook Asset Management LLC - Delaware
Mink Brook Partners LP - Delaware
Mink Brook Opportunity Fund LP - Delaware
Mink Brook Capital GP LLC - Delaware
William Mueller - Florida</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Reference is made to Items 5 - 11 on the preceding pages of this Schedule 13G.
As of the close of business on March 31 2025 Mink Brook Partners LP and Mink Brook Opportunity Fund LP held an aggregate of 1867021 shares of the common stock of the Issuer. As the general partner to both Mink Brook Partners LP and Mink Brook Opportunity Fund LP Mink Brook Capital GP LLC may be deemed to have shared power to vote or to direct the vote and to dispose or to direct the disposition of the shares held by Mink Brook Partners LP and Mink Brook Opportunity Fund LP. As the managing member of Mink Brook Capital GP LLC and Mink Brook Asset Management LLC William Mueller may be deemed to have shared power to vote or to direct the vote and to dispose or to direct the disposition of the shares held by Mink Brook Partners LP and Mink Brook Opportunity Fund LP.
Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that Mr. Mueller Mink Brook Asset Management LLC or Mink Brook Capital GP LLC is the beneficial owner of the shares of the common stock of the Issuer referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934 as amended or for any other purpose and such beneficial ownership is expressly disclaimed except to the extent of their respective pecuniary interests therein.
The Mink Brook parties in this filing did not buy any shares in the first quarter of 2025. This filing was triggered as a result of the issuer's repurchase activity.</amountBeneficiallyOwned>
        <classPercent>Mink Brook Asset Management LLC - 5.26%
Mink Brook Partners LP - 2.63%
Mink Brook Opportunity Fund LP - 2.63%
Mink Brook Capital GP LLC - 5.26%
William Mueller -  5.26%

This percentage is calculated based upon 35,495,057 shares of common stock outstanding of the Issuer disclosed in the quarterly 10-K dated March 13, 2025.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>Mink Brook Asset Management LLC - 0
Mink Brook Partners LP - 0
Mink Brook Opportunity Fund LP - 0
Mink Brook Capital GP LLC - 0
William Mueller - 0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Mink Brook Asset Management LLC - 1867021
Mink Brook Partners LP - 935187
Mink Brook Opportunity Fund LP - 931824
Mink Brook Capital GP LLC - 1867021
William Mueller - 1867021</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>Mink Brook Asset Management LLC - 0
Mink Brook Partners LP - 0
Mink Brook Opportunity Fund LP - 0
Mink Brook Capital GP LLC - 0
William Mueller - 0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Mink Brook Asset Management LLC - 1867021
Mink Brook Partners LP - 935187
Mink Brook Opportunity Fund LP -  931824
Mink Brook Capital GP LLC - 1867021
William Mueller - 1867021</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Mink Brook Asset Management LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ William Mueller</signature>
        <title>Managing Member</title>
        <date>05/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Mink Brook Partners LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ William Mueller</signature>
        <title>Managing Member, Mink Brook Capital GP LLC</title>
        <date>05/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Mink Brook Opportunity Fund LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ William Mueller</signature>
        <title>Managing Member, Mink Brook Capital GP LLC</title>
        <date>05/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Mink Brook Capital GP LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ William Mueller</signature>
        <title>Managing Member</title>
        <date>05/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>William Mueller</reportingPersonName>
      <signatureDetails>
        <signature>/s/ William Mueller</signature>
        <title>William Mueller</title>
        <date>05/14/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
