XML 59 R36.htm IDEA: XBRL DOCUMENT v3.23.3
Prepaid Expenses and Other Current Assets (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Prepaid Expenses and Other Current Assets [Abstract]    
Schedule of prepayments and other current assets, net Prepayments and other current assets consisted of the following:
   December 31,   June 30, 
   2022   2023 
Advances to suppliers  $4,537   $40,689 
Value-added tax (“VAT”) prepayment   1,954    2,276 
Advance for deferred cost of Business Combination (1)    1,325    
-
 
Deferred IPO costs   868    
-
 
Other receivables from third parties   763    804 
Prepaid expenses and other current assets   9,447    43,769 
Allowance for doubtful accounts   (177)   (168)
Prepaid expenses and other current assets, net  $9,270   $43,601 
(1)The advance for deferred cost of Business Combination represented the advances to Goldenbridge Acquisition Limited (“GBRG”) in form of non-interest-bearing loans, pursuant to the agreement and plan of merger, dated as of May 23, 2022, which provides for a Business Combination between GBRG and Auto Services Group Limited. Such advance was provided to GBRG to extend the period of time for GBRG to consummate the Business Combination.
Prepayments and other current assets, net consisted of the following:
   December 31, 
   2021   2022 
         
Advances to suppliers  $1,699   $4,537 
Value-added tax (“VAT”) receivables   3,246    1,954 
Advance for deferred cost of Business Combination(1)   
-
    1,325 
Deferred IPO costs   
-
    868 
Others   986    763 
Prepaid expenses and other current assets   5,931    9,447 
Allowance for doubtful accounts   (191)   (177)
Prepaid expenses and other current assets, net  $5,740   $9,270 
(1)The advance for deferred cost of Business Combination represented the advances to Goldenbridge Acquisition Limited (“GBRG”) in form of non-interest-bearing loans, pursuant to the agreement and plan of merger, dated as of May 23, 2022, which provides for a Business Combination between GBRG and Auto Services Group Limited. Such advance was provided to GBRG to extend the period of time for GBRG to consummate the Business Combination and shall become repayable upon closing of the Business Combination, or if GBRG materially breach the agreement.
Schedule of Allowance for Doubtful Accounts   The movement of allowance for doubtful accounts for the years ended December 30, 2020, 2021 and 2022 were as following:
   For the years ended December 31, 
   2020   2021   2022 
Balance at the beginning of the year  $
-
   $41   $191 
Additions   39    148    
-
 
Foreign currency translation   2    2    (14)
Balance at the end of the year  $41   $191   $177