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Other Balance Sheet Components | 9 Months Ended
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Sep. 30, 2023
Other Balance Sheet Components |
Other Balance Sheet Components | Note 6 – Other Balance Sheet Components Other Current Assets Other current assets are comprised of the following:
|  | September 30, |  |  | December 31, |
​ | ​ |  | 2023 | ​ |  | ​ | 2022 |
Prepaid Directors & Officers insurance |  | $ | 816,405 |  |  | $ | 1,292,317 |
Advances to suppliers |  |  | 510,805 |  |  |  | - |
Advances to employees |  |  | 209,749 |  |  |  | 74,064 |
Income tax advance payments (a) |  |  | - |  |  |  | 34,642 |
Other assets |  |  | 49,434 |  |  |  | 24,484 |
Total |  | $ | 1,586,393 |  |  | $ | 1,425,507 |
(a) Includes federal withholding taxes and recoverable income taxes. Property Plant and Equipment Property, plant and equipment consisted of the following:
|  | September 30, |  |  | December 31, |
|  |  | 2023 |  |  |  | 2022 |
Development mockup |  | $ | 418,721 |  |  | $ | 418,721 |
Leasehold improvement |  |  | 166,740 |  |  |  | - |
Construction in progress ("CIP") |  |  | - |  |  |  | 44,375 |
Computer hardware |  |  | 14,684 |  |  |  | 13,368 |
Total property, plant and equipment |  | $ | 600,145 |  |  | $ | 476,465 |
Less: Accumulated depreciation |  |  | (122,217 | ) |  |  | (24,879 | )
Total property, plant and equipment, net |  | $ | 477,928 |  |  | $ | 451,586 |
Depreciation expense for the three months ended September 30, 2023 and 2022 was $37,220 and $0, respectively. Depreciation expense for the nine months ended September 30, 2023 and 2022 was $95,979 and $0, respectively. During the nine months ended September 30, 2023, the Company disposed of CIP assets associated with the site where the lease was terminated as described in Note 5. The expense is recognized in the "Selling, general and administrative" line of the condensed consolidated statement of operations. Other Current Payables Other current payables are comprised of the following items:
|  | September 30, |  |  | December 31, |
​ |  | 2023 |  | ​ | ​ | 2022 |
Payroll accruals |  | $ | 5,514,622 |  |  | $ | 4,033,516 |
Accrued expenses |  |  | 4,314,525 |  |  |  | 2,491,847 |
Income tax payable |  |  | 692,448 |  |  |  | - |
Other payables |  |  | 143,016 |  |  |  | 122,808 |
Total |  | $ | 10,664,611 |  |  | $ | 6,648,171 |
Other Non-Current Payables Other non-current payables are comprised of the following items:
|  | September 30, |  |  | December 31, |
​ |  | 2023 |  | ​ | ​ | 2022 |
Advances from customers (a) |  | $ | 1,075,000 |  |  | $ | 800,000 |
Payroll accruals |  |  | 546,998 |  |  |  | 42,144 |
Other payable |  |  | 405,788 |  |  |  | 177,930 |
Total |  | $ | 2,027,786 |  |  | $ | 1,020,074 |
(a) Advances from customers relate to customers who have signed non-binding Letters of Intent to purchase eVTOLs.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
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