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PREPAID EXPENSES AND OTHER CURRENT ASSETS
 6 Months Ended
Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS PREPAID EXPENSES AND OTHER CURRENT ASSETS
Prepaid expenses and other current assets at June 30, 2024 and December 31, 2023 consisted of the following:
 June 30, 2024December 31, 2023
Insurance$89,497 $468,495 
Other prepaid and current assets151,571 151,268 
Total prepaid expenses and other current assets$241,068 $619,763 
Insurance is mainly comprised of prepaid directors' and officers' insurance. In July 2023, the Company financed its directors and officers' insurance premium with a short term note, the principal amount of which is approximately $0.6 million bearing interest at a rate of 7.87%. The note payable balance, which was included within Current Liabilities on the Condensed Consolidated Balance Sheet was $0 million at June 30, 2024.