PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

NOTE 7. PREPAID EXPENSES AND OTHER CURRENT ASSETS

	December 31,		December 31,
	2022		2021
Prepaid final assembly services	$	-	$	439,660
Prepayments for inventory		1,174,466		1,622,617
Prepayments for insurance		118,434		-
Prepayments on advances on design		75,000		-
Prepayments on software		103,851		-
Prepaid other		7,094		213,901
	$	1,478,845	$	2,276,178

As of December 31, 2021 the balance of prepaid expenses and accrued expenses, net with Cenntro was $602,016. As of December 31, 2022, there was no longer a balance. Impairments of prepaid expenses led to a write-down, netted with the balance in accrued expenses. The remainder of the balance was expensed through cost of goods sold for $621,097.

AYRO, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS