Annual report [Section 13 and 15(d), not S-K Item 405]

Prepaid expense and Other current assets

v3.25.1
Prepaid expense and Other current assets
 12 Months Ended
Dec. 31, 2024
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

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

 

    December 31,     December 31,  
    2024     2023  
Prepaid insurance   $ 374,480     $ 699,310  
Prepaid components     528,000       1,258,965  
Prepaid satellite services & licenses     2,353,757       3,313,706  
Prepaid software     82,440       91,258  
Other current assets     90,979       42,214  
Total   $ 3,429,656     $ 5,405,453  

 

During the years ended December 31, 2024 and 2023, the Company recorded interest expense of $18,492 and $26,302 related to financing of our prepaid insurance policies.