Other Current Assets and Other Long Term Assets

12 Months Ended

Dec. 31, 2024

Other Current Assets and Other Long Term Assets

Other Current Assets and Other Long Term Assets

6. Other Current Assets and Other Long Term Assets

Other current assets consisted of the following as of the periods presented below:

	DECEMBER 31,		DECEMBER 31,
	2024		2023
Inventories	$	312,429	$	366,126
Prepaid project costs		565,999		-
Deferred contract costs		2,134,182		-
Prepaid expenses and other assets		758,863		717,545
Total other current assets	$	3,771,473	$	1,083,671

Other long term assets consisted of the following as of the periods presented below:

	DECEMBER 31,		DECEMBER 31,
	2024		2023
Security deposits	$	48,822	$	40,587
Capital work in progress		449,114		442,701
Prepaid project costs, net of current portion		161,150		-
Other long term assets	$	659,086	$	483,288

At December 31, 2024, capitalized work in progress consists of internally developed software costs, primarily associated with upgrading our secure network operations center.

During the year ended December 31, 2023, $2.4 million of internally developed software costs, primarily associated with upgrading our ITMS™ (Intelligent Technology Management System) and secure identity management technology was transferred from capital work in progress to internally developed software.