Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2017

Prepaid Expenses and Other Current Assets [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

6.  Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

(in thousands)	December 31,
	2017		2016
Inventory	$	755	$	-
Income tax receivable		418		446
Prepaid expenses		549		422
Other current assets		1,073		1,184
Total	$	2,795	$	2,052

Inventory is being purchased to support the construction of three major nuclear simulation projects related to a significant contract that was executed during the first quarter of 2016. Inventory is recorded at the lower of cost or net realizable value in accordance with ASC 330, Inventory. Cost is determined using specific identification. At December 31, 2016, inventory related to the simulation projects was classified as a long-term asset within other assets on the consolidated balance sheets. The earliest completion date of these projects is expected to occur in the second quarter of 2018.

Other current assets primarily includes value-added tax receivables and cash deposited in a Swedish tax account.