FLYEXCLUSIVE INC
For the period ended Dec 31, 2023. Filed May 1, 2024.
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FY2023 · Filed May 1, 2024
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9. Prepaid Expenses and Other Current Assets
- Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
| (in thousands) | December 31,2023 | December 31,2022 |
|---|---|---|
| Prepaid vendor expenses | $2,520 | $1,717 |
| Prepaid insurance | 446 | 1,894 |
| Capitalized transaction costs* | — | 1,233 |
| Prepaid directors and officers insurance | 2,518 | — |
| Prepaid maintenance | 60 | 181 |
| Prepaid non-aircraft subscriptions | 113 | 135 |
| MRO revenue in excess of billings | 581 | 292 |
| Deferred commission | 514 | 413 |
| $6,752 | $5,865 |
*The capitalized transaction costs consist of advisory, legal, and other professional fees that are specific incremental costs directly attributable to the offering of securities associated with the Closing of the Merger. On the Closing Date, these capitalized transaction costs were reclassified from prepaid expenses and other current assets to a reduction to additional paid-in capital.
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