Other Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2023

Other Balance Sheet Components

Schedule of Other Current Assets

	September 30,		December 31,
		2023		2022
Prepaid Directors & Officers insurance	$	816,405	$	1,292,317
Advances to suppliers		510,805		-
Advances to employees		209,749		74,064
Income tax advance payments (a)		-		34,642
Other assets		49,434		24,484
Total	$	1,586,393	$	1,425,507

(a) Includes federal withholding taxes and recoverable income taxes.

Schedule of Property, plant and equipment

	September 30,			December 31,
		2023			2022
Development mockup	$	418,721		$	418,721
Leasehold improvement		166,740			-
Construction in progress ("CIP")		-			44,375
Computer hardware		14,684			13,368
Total property, plant and equipment	$	600,145		$	476,465
Less: Accumulated depreciation		(122,217	)		(24,879	)
Total property, plant and equipment, net	$	477,928		$	451,586

Summary of other current payables

	September 30,		December 31,
	2023			2022
Payroll accruals	$	5,514,622	$	4,033,516
Accrued expenses		4,314,525		2,491,847
Income tax payable		692,448		-
Other payables		143,016		122,808
Total	$	10,664,611	$	6,648,171

Summary of other non-current payables

	September 30,		December 31,
	2023			2022
Advances from customers (a)	$	1,075,000	$	800,000
Payroll accruals		546,998		42,144
Other payable		405,788		177,930
Total	$	2,027,786	$	1,020,074

(a) Advances from customers relate to customers who have signed non-binding Letters of Intent to purchase eVTOLs.