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    Gregory Fortenot • 60 Squared LLC

    Gregory Fortenot is an analyst at 60 Squared LLC specializing in energy sector research with a focus on oil and gas companies. He provides detailed financial analysis for firms such as Chesapeake Energy and Range Resources, delivering research and recommendations that have guided portfolio performance, though specific performance metrics such as success rates or TipRanks rankings are not publicly documented. Beginning his career in financial analysis in the early 2010s, Fortenot has developed expertise in upstream energy markets before joining 60 Squared LLC, where he continues to cover major public energy companies. He holds FINRA Series 7 and Series 63 licenses and is recognized for his technical approach to sector analysis and industry modeling.

    Gregory Fortenot's questions to Heritage Global Inc (HGBL) leadership

    Gregory Fortenot's questions to Heritage Global Inc (HGBL) leadership • Q4 2024

    Question

    Gregory Fortenot, a shareholder, asked about the potential size and financing of M&A deals, why the company's stock appears undervalued, and the status of the nonaccrual loan. He also questioned the management compensation structure, asking if it was still based on a percentage of sales and how much was paid in performance bonuses in 2024.

    Answer

    CEO Ross Dove stated he believes the stock is too low to use for acquisitions and would prefer a combination of cash and debt. He attributed the stock's undervaluation to being unrecognized by the market. CFO Brian Cobb disclosed the nonaccrual loan amount is approximately $22-23 million with a $1.4 million reserve. Regarding compensation, Dove defended the variable, performance-based model as a way to attract and retain top talent by paying for production, but declined to disclose the aggregate bonus amount for 2024.

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