Annual report pursuant to Section 13 and 15(d)

Prepaid expense and Other current assets

v3.22.4
Prepaid expense and Other current assets
 12 Months Ended
Dec. 31, 2022
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

As of December 31, 2022 and 2021, prepaid expense and other current assets are as follows:

Schedule of Prepaid Expense and Other Current Assets 

    December 31,     December 31,  
    2022     2021  
Prepaid insurance   $ 994,450     $ 1,538,612  
Prepaid components     950,679       -  
Prepaid satellite service and licenses     1,367,125       -  
Other prepaid expense     110,984       49,582  
VAT receivable     7,204       6,905  
Other current assets     46,306       -  
Total   $ 3,476,748     $ 1,595,099  

 

During the years ended December 31, 2022 and 2021, the Company recorded interest expense of $23,407 and $1,958 related to financing of our prepaid insurance policies.

 

As of December 31, 2022 and 2021, other prepaid expense included, software subscriptions of $107,000 and $27,000, prepaid rent of $0 and $22,000, property insurance of $0 and $19,000, respectively.