Quarterly report pursuant to Section 13 or 15(d)

Prepaid expense and Other current assets

v3.23.2
Prepaid expense and Other current assets
 6 Months Ended
Jun. 30, 2023
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

As of June 30, 2023 and December 31, 2022, prepaid expense and other current assets are as follows:

 

    June 30,     December 31,  
    2023     2022  
Prepaid insurance   $ 542,950     $ 994,450  
Prepaid components     916,830       950,679  
Prepaid satellite services & licenses     3,293,339       1,367,125  
Prepaid software     84,707       107,000  
Other current assets     111,498       57,494  
Total   $ 4,949,324     $ 3,476,748  

 

During the six months ended June 30, 2023 and 2022, the Company recorded interest expense of $13,292 and $12,001 related to financing of our prepaid insurance policies.