Quarterly report [Sections 13 or 15(d)]

Prepaid expense and Other current assets

v3.25.1
Prepaid expense and Other current assets
3 Months Ended
Mar. 31, 2025
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

As of March 31, 2025 and December 31, 2024, prepaid expense and other current assets are as follows:

 

    March 31,     December 31,  
    2025     2024  
Prepaid insurance   $ 249,512     $ 374,480  
Prepaid components     135,534       528,000  
Prepaid satellite services & licenses     1,575,944       2,353,757  
Prepaid software     77,071       82,440  
Other current assets     129,807       90,979  
Total   $ 2,167,868     $ 3,429,656  

 

During the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $5,462 and $894 related to cash paid for interest from financing of our prepaid insurance policies.