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Other Current Assets | 12 Months Ended
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Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Current Assets | NOTE D – OTHER CURRENT ASSETS Our other current assets consist of the following:
|  | December 31, 2018 |  |  | December 31, 2017 |
Prepaid expenses |  | $ | 478,560 |  |  | $ | 471,686 |
Project deposit |  |  | 532,500 |  |  |  | — |
Deposits |  |  | 5,076 |  |  |  | 23,841 |
Total other current assets |  | $ | 1,016,136 |  |  | $ | 495,527 |
For the period ended December 31, 2018, prepaid expenses consisted of $388,137 for directors and officer’s insurance, $40,119 for marine insurance, $38,674 of professional services and $11,630 of other insurances. The Project deposit pertains to the HMS Sussex project, see NOTE F for details. The deposit balance is on account for professional services. For the period ended December 31, 2017, prepaid expenses consisted of $316,795 for directors and officer’s insurance, $67,447 for marine insurance, $75,784 of professional services and $11,660 of other insurances. The deposit balance is on account for professional services. All prepaid expenses are amortized on a straight-line basis over the term of the underlying agreements. Deposits may held by various entities for equipment, services, and in accordance with agreements in the normal course of business.

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