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
 6 Months Ended
Jun. 30, 2024
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

As of June 30, 2024 and December 31, 2023, prepaid expense and other current assets are as follows:

 

    June 30,     December 31,  
    2024     2023  
Prepaid insurance   $ 363,914     $ 699,310  
Prepaid components     914,251       1,258,965  
Prepaid satellite services & licenses     2,826,780       3,313,706  
Prepaid software     111,579       91,258  
Other current assets     232,594       42,214  
Total    $ 4,449,118     $ 5,405,453  

 

 

During the six months ended June 30, 2024 and 2023, the Company recorded interest expense of $6,950 and $13,292 related to financing of our prepaid insurance policies.