Desktop Metal, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PREPAID EXPENSES AND OTHER CURRENT ASSETS

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2022

PREPAID EXPENSES AND OTHER CURRENT ASSETS

PREPAID EXPENSES AND OTHER CURRENT ASSETS

9. PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consists of the following (in thousands):


	December 31,		December 31,
	2022		2021
Prepaid operating expenses	$	5,705	$	11,961
Prepaid dues and subscriptions		2,674		1,889
Property and equipment held for sale, net of accumulated depreciation		830		—
Prepaid insurance		798		492
Government grants receivable		429		226
Prepaid taxes		395		1,981
Prepaid rent		383		178
Other		5,941		1,481
Total prepaid expenses and other current assets	$	17,155	$	18,208

During the year ended December 31, 2022, as a result of consolidation and integration efforts, the Company approved a plan to sell a facility in Troy, Michigan, as well as related equipment in the facility. These assets have been classified as assets held for sale, with a carrying value at December 31, 2022 of $0.8 million, on the basis that management was committed to a plan to dispose of the building at the balance sheet date and considered the sale to be probable within one year.