Quarterly report pursuant to Section 13 or 15(d)

Prepaid expense and Other current assets

v3.23.1
Prepaid expense and Other current assets
 3 Months Ended
Mar. 31, 2023
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

As of March 31, 2023 and December 31, 2022, prepaid expense and other current assets are as follows:

 

    March 31,     December 31,  
    2023     2022  
Prepaid insurance   $ 716,789     $ 994,450  
Prepaid components     1,032,038       950,679  
Prepaid satellite services & licenses     2,723,946       1,367,125  
Prepaid software     108,500       107,000  
Other current assets     16,378       57,494  
Total   $ 4,597,651     $ 3,476,748  

 

During the three months ended March 31, 2023 and 2022, the Company recorded interest expense of $6,325 and $5,875 related to financing of our prepaid insurance policies.