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

Accrued Expenses

v3.23.1
Accrued Expenses
 12 Months Ended
Dec. 31, 2022
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

NOTE 6 - ACCRUED EXPENSES

 

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

 

    December 31,  
    2022     2021  
Consulting fees   $ 531,829     $ 548,281  
Professional fees     3,945       252,973  
Litigation accrual (1)     125,255       300,000  
Employee and director compensation     1,558,024       725,569  
Research and development fees     22,023       91,737  
Interest     36,422       25,433  
Other     7,018       20,587  
    $ 2,284,516     $ 1,964,580  

 

(1) See Note 11 - Commitments and Contingencies, Potential Legal Matters.

 

As of December 31, 2022 and 2021, accrued expenses - related parties were $188,159 and $18,370, respectively. See Note 11 – Commitments & Contingencies and Note 14 - Related Parties for details.