Note 13 - Other Receivables, Other Assets, Accounts Payable and Other Liabilities

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Other Receivables, Other Assets, Accounts Payable and Other Liabilities [Text Block]

13. OTHER RECEIVABLES, OTHER ASSETS, ACCOUNTS PAYABLE AND OTHER LIABILITIES

Other receivables consisted of the following.

OTHER RECEIVABLES

(Dollars in Thousands)

	September 30, 2024		December 31, 2023
Asset management fees receivable	$	2,157	$	1,085
New issue fee receivable		5,703		1,181
Accrued interest and dividend receivable		892		1,689
Revenue share receivable		998		321
Agency repo income receivable		447		391
Miscellaneous other receivables		882		706
Other receivables	$	11,079	$	5,373

Asset management fees receivable are of a routine and short-term nature.  These amounts are generally accrued monthly and paid on a monthly or quarterly basis.

New issue fee receivable represents fees due for new issue and advisory services. 

Accrued interest and dividends receivable represent interest and dividends accrued on the Company’s investment securities included as a component of investments-trading or other investments, at fair value. Interest payable on securities sold, not yet purchased is included as a component of accounts payable and other liabilities in the table entitled Accounts Payable and Other Liabilities below.

Revenue share receivable represents the amount due to the Company for the Company’s share of a revenue arrangement generated from an entity in which the Company receives a share of the entity’s revenue.

Agency repo income receivable represents income receivable on gestation repo trades.  See note 10.

Miscellaneous other receivables represent other receivables that are of a short-term nature.

Other assets consisted of the following.

OTHER ASSETS

(Dollars in Thousands)

	September 30, 2024		December 31, 2023
Prepaid expenses	$	1,860	$	1,328
Prepaid taxes		-		235
Deposits		740		730
Furniture, equipment, and leasehold improvements, net		1,678		1,282
Intangible assets		166		166
Other assets	$	4,444	$	3,741

Prepaid expenses represent amounts paid for services that are being amortized over their expected period of use and benefit.  They are all routine and short-term in nature.  Deposits are amounts held by landlords or other parties that will be returned or offset upon satisfaction of a lease or other contractual arrangement.  See note 16 to the Company’s consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2023 for further discussion of the Company’s furniture, equipment, and leasehold improvements.  Intangible assets represent the carrying value of the JVB broker-dealer license. 

Accounts payable and other liabilities consisted of the following.

ACCOUNTS PAYABLE AND OTHER LIABILITIES

(Dollars in Thousands)

	September 30, 2024		December 31, 2023
Accounts payable	$	626	$	1,180
Redeemable financial instruments accrued interest		-		90
Accrued income tax		488		-
Accrued interest payable		579		474
Accrued interest on securities sold, not yet purchased		432		725
Payroll taxes payable		2,232		2,118
Accrued expense and other liabilities		3,117		3,528
Accounts payable and other liabilities	$	7,474	$	8,115

The redeemable financial instrument accrued interest represents accrued interest on the JKD Investor redeemable financial instrument.  See note 15.