Quarterly report pursuant to Section 13 or 15(d)

Prepaid expense and Other current assets

v3.24.3
Prepaid expense and Other current assets
 9 Months Ended
Sep. 30, 2024
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

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

 

    September 30,     December 31,  
    2024     2023  
Prepaid insurance   $ 188,146     $ 699,310  
Prepaid components     848,084       1,258,965  
Prepaid satellite services & licenses     3,160,499       3,313,706  
Prepaid software     57,480       91,258  
Other current assets     150,959       42,214  
Total   $ 4,405,168     $ 5,405,453  

 

During the nine months ended September 30, 2024 and 2023, the Company recorded interest expense of $11,349 and $20,353 related to financing of our prepaid insurance policies.