Quarterly report pursuant to Section 13 or 15(d)

PREPAID EXPENSES AND OTHER CURRENT ASSETS

v3.20.2
PREPAID EXPENSES AND OTHER CURRENT ASSETS
9 Months Ended
Sep. 30, 2020
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 consisted of the following at each balance sheet date:
  As of
  September 30, 2020 December 31, 2019
Assets classified as held for sale 791,180  — 
Prepaid Inventory 659,084  1,291,577 
Prepaid insurance 275,623  133,611 
Vehicle trade-in credits 156,607  — 
Interest receivables 64,600  80,609 
Other 231,588  166,625 
Total $ 2,178,682  $ 1,672,422 

In the first quarter of 2020, we completed the construction of a new office building and research and development facility in Acheson, Canada. As a result, during the second quarter of 2020 we started the process of selling our old office building in Spruce Grove, Canada. In the table above, the assets classified as held for sale as of September 30, 2020, consist of this old office building which we intend to sell within a one year period from the most recent balance sheet date. The amount shown above is recorded at cost, less accumulated depreciation.