Quarterly report pursuant to Section 13 or 15(d)

Prepaid expense and Other current assets

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Prepaid expense and Other current assets
 3 Months Ended
Mar. 31, 2024
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

As of March 31, 2024 and December 31, 2023, prepaid expense and other current assets are as follows:

 

    March 31,     December 31,  
    2024     2023  
Prepaid insurance   $ 447,759     $ 699,310  
Prepaid components     1,344,507       1,258,965  
Prepaid satellite services & licenses     2,797,102       3,313,706  
Prepaid software     98,001       91,258  
Other current assets     80,961       42,214  
Total   $ 4,768,330     $ 5,405,453  

 

During the three months ended March 31, 2024 and 2023, the Company recorded interest expense of $894 and $6,325 related to financing of our prepaid insurance policies.