Quarterly report pursuant to Section 13 or 15(d)

Prepaid expense and Other current assets

v3.23.3
Prepaid expense and Other current assets
 9 Months Ended
Sep. 30, 2023
Prepaid Expense And Other Current Assets  
Prepaid expense and Other current assets

Note 4. Prepaid expense and Other current assets

 

As of September 30, 2023, and December 31, 2022, prepaid expense and other current assets are as follows:

 

    September 30,     December 31,  
    2023     2022  
Prepaid insurance   $ 267,619     $ 994,450  
Prepaid components     1,317,634       950,679  
Prepaid satellite services & licenses     4,199,006       1,367,125  
Prepaid software     125,577       107,000  
Other current assets     62,184       57,494  
Total   $ 5,972,020     $ 3,476,748  

 

During the nine months ended September 30, 2023, and 2022, the Company recorded interest expenses of $20,353 and $18,128, respectively related to financing of our prepaid insurance policies.