3. PREPAID EXPENSES AND OTHER CURRRENT ASSETS

During the year ended December 31, 2018, the Company entered into purchase commitments to acquire second generation charging stations with an aggregate value of $3,156,629. The Company has an aggregate deposit of $792,204 for these charging stations, which is included within prepaid expenses and other current assets on the Company’s consolidated balance sheet as of December 31, 2018. As of December 31, 2018, the Company had a remaining purchase commitment of $1,843,943 which will become payable upon the supplier’s delivery of the charging stations. The purchase commitments were made primarily for future sales of these charging stations.