Accounts Receivable and Accounts Payable

12 Months Ended

Dec. 31, 2022

Accounts Receivable And Accounts Payable [Abstract]

Accounts Receivable and Accounts Payable

Note 11 – Accounts Receivable and Accounts Payable

Accounts receivable, net

As described in Note 2, the Company’s accounts receivable are primarily related to the operations of its business. With respect to auction proceeds and asset dispositions, including NLEX’s brokerage transactions, the assets are not released to the buyer until payment has been received. The Company, therefore, is not exposed to significant collectability risk relating to these receivables. Given this experience, together with the ongoing business relationships between the Company and its joint venture partners, the Company has not historically required a formal credit quality assessment in connection with these activities. The Company has not experienced any significant collectability issues with its accounts receivable. As the Company’s business expands, more comprehensive credit assessments may be required.

The Company's allowance for doubtful accounts was approximately $0.1 million as of December 31, 2022 and 2021.

Accounts payable and accrued liabilities

Accounts payable and accrued liabilities consisted of the following, (in thousands):

	2022		2021
Remuneration and benefits		4,660		1,904
Accrued auction and liquidation expenses		2,573		1,327
Due to Joint Venture partners		793		402
Deferred Revenue		279		407
Sales and other taxes		220		177
Accounting, auditing and tax consulting		204		184
Other		195		392
Total accounts payable and accrued liabilities	$	8,924	$	4,793