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Prepaid Expenses and Other Assets
12 Months Ended
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepaid Expenses and Other Assets

Note 6. Prepaid Expenses and Other Assets

 

As of December 31, 2023 and 2022, we had other assets of $1,118,188 and $700,298. Our other assets consist of various deposits with vendors, professional service agents, or security deposits on office and warehouse leases, including operating lease deposits in the amount of $214,500 and $132,688 as of December 31, 2023 and 2022, a deposit for a reclamation bond with the Utah Division of Oil, Gas and Mining in the amount of $14,288 as of December 31, 2023 and 2022, and finance lease deposits of $889,400 and $553,322 as of December 31, 2023, which will be returned at the end of the finance leases after we have complied with the terms of the lease (see Note 16).

 

As of December 31, 2023 and 2022, our prepaid expenses of $74,876 and $31,523 mainly consists of prepaid insurances.