180 Life Sciences Corp. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2022

Prepaid Expenses and Other Current Assets [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

NOTE 4 - PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses consist of the following as of December 31, 2022 and 2021:

	December 31,
	2022		2021
Insurance ⁽¹⁾	$	1,027,292	$	1,937,693
Research and development expense tax credit receivable		546,563		644,513
Professional fees ⁽¹⁾		310,017		294,577
Value-added tax receivable		48,774		24,411
Taxes		25,634		25,634
Other		-		49,755
	$	1,958,280	$	2,976,583

⁽¹⁾

In the previously filed Annual Report on Form 10-K for the year ended December 31, 2021, the Insurance line item above included $213,974 of expenses related to Oxford agreements for our CBR Pharma subsidiary. In the current year, those same expenses are grouped into the Professional fees grouping. As such, for comparative purposes, that amount has been moved from the Insurance grouping to the Professional fees grouping for the 2021 period.