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

Accrued Expenses

v3.23.2
Accrued Expenses
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Payables and Accruals [Abstract]    
ACCRUED EXPENSES

NOTE 5 – ACCRUED EXPENSES

 

Accrued expenses consist of the following as of March 31, 2023 and December 31, 2022:

 

    March 31,     December 31,  
    2023     2022  
Consulting fees   $ 517,489     $ 531,829  
Professional fees     -       3,945  
Litigation accrual (1)     764,556       125,255  
Employee and director compensation     1,305,521       1,558,024  
Research and development fees     165,395       22,023  
Interest     56,457       36,422  
Other     11,595       7,018  
    $ 2,821,013     $ 2,284,516  

  

(1) See Note 8 - Commitments and Contingencies, Legal Matters.

 

As of March 31, 2023 and December 31, 2022, accrued expenses - related parties were $228,581 and $188,159, respectively. See Note 10 - Related Parties for details.

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.