Prepaids and Other Current Assets

6 Months Ended

Jun. 30, 2022

Prepaid Expense and Other Assets, Current [Abstract]

PREPAIDS AND OTHER CURRENT ASSETS

NOTE 4 – PREPAIDS AND OTHER CURRENT ASSETS

Prepaids and other current assets consisted of the following:

	June 30, 2022		December 31, 2021
Prepaid insurance	$	4,646	$	5,207
Recoverable costs from insurance		-		11,109
Income tax receivable		-		757
Other current assets		1,727		1,675
Total prepaid expenses and other current assets	$	6,373	$	18,748

During the six months ended June 30, 2022 and 2021, the Company prepaid $5.1 million and $11.7 million, respectively, in insurance premiums related to renewals of various insurance policies.

The Company has insurance coverage in place covering, among other things, property damage up to certain specified amounts. During the six months ended June 30, 2022, the Company received $12.0 million from insurance reimbursements, of which $11.1 million was accrued for as of December 31, 2021. During the six months ended June 30, 2021, the Company received $6.4 million from insurance reimbursements.

During 2020, the Company filed an application to carry back its 2018 NOLs, claiming a refund of approximately $0.8 million, which was received during the three months ended June 30, 2022.