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

Accrued Expenses

Accrued Expenses

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Accrued Expenses [Abstract]

ACCRUED EXPENSES

NOTE 5 - ACCRUED EXPENSES

Accrued expenses consist of the following as of September 30, 2023 and December 31, 2022:

	September 30,		December 31,
	2023		2022
Consulting fees	$	582,476	$	531,829
Professional fees		125,000		3,945
Litigation accrual ⁽¹⁾		49,999		125,255
Employee and director compensation		1,367,453		1,558,024
Research and development fees		175,165		22,023
Interest		66,415		36,422
Other		9,152		7,018
	$	2,375,660	$	2,284,516

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

As of September 30, 2023 and December 31, 2022, accrued expenses - related parties were $328,303 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.