Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2019

Prepaid Expenses and Other Current Assets [Abstract]

Prepaid Expenses and Other Current Assets

9.  Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

(in thousands)	December 31,
	2019		2018
Inventory	$	-	$	139
Income tax receivable		237		310
Prepaid expenses		861		556
Other current assets		782		795
Total	$	1,880	$	1,800

Inventory composed of raw material, 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. The construction was completed in the first quarter of 2019. Inventory is recorded at the lower of cost or net realizable value in accordance with ASC 330, Inventory. Cost is determined using specific identification.

Other current assets primarily include value-added tax receivables and cash deposited in a Swedish tax account. Prepaid expenses primarily include prepayment for insurance and other subscription based services.