Annual report pursuant to Section 13 and 15(d)

Prepaid expense and Other current assets

v3.24.1
Prepaid expense and Other current assets
 12 Months Ended
Dec. 31, 2023
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

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

 

   

December 31,

2023

    

December 31,

2022

  
Prepaid insurance   $ 699,310     $ 994,450  
Prepaid components     1,258,965       950,679  
Prepaid satellite services & licenses     3,313,706       1,367,125  
Prepaid software     91,258       107,000  
VAT receivable     -       -  
Other current assets     42,214       57,494  
Total   $ 5,405,453     $ 3,476,748  

 

During the years ended December 31, 2023 and 2022, the Company recorded interest expense of $26,302 and $23,407 related to financing of our prepaid insurance policies.