Quarterly report pursuant to Section 13 or 15(d)

PREPAID EXPENSES AND OTHER CURRENT ASSETS

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PREPAID EXPENSES AND OTHER CURRENT ASSETS
 3 Months Ended
Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS
NOTE 2 — PREPAID EXPENSES AND OTHER CURRENT ASSETS
The components of prepaid expenses and other current assets consist of the following (in thousands):
March 31, 2022 December 31, 2021
Prepaid expenses $ 413  $ 605 
Deposits 21,897  3,589 
Restricted cash 3,000  — 
Derivative asset, net current —  8,693 
Other current assets 77  65 
Total prepaid expenses and other current assets $ 25,387  $ 12,952 
Deposits
Margin deposits posted with a third-party financial institution related to our financial instrument contracts were approximately $20.2 million and $2.1 million as of March 31, 2022 and December 31, 2021, respectively.

Restricted Cash
Restricted cash as of March 31, 2022, represents funds held in escrow under the terms of an agreement to purchase land for the Driftwood Project.