7. PREPAID AND OTHER CURRENT ASSETS

As of December 31, 2021 and 2020, the Company’s prepaid and other current assets are as follows:

As of December 31, 2021, the deposits were primarily attributed to an acquisition that closed in January 2022 (discussed in Note 25, “Subsequent Events”). Prepaid insurance mainly consists of prepaid Director and Officer insurance. Other prepaid expenses consisted of prepaid taxes, prepaid software licenses, and other miscellaneous prepaid expenses. Premiums receivable are related to BIGRM.