Annual report pursuant to Section 13 and 15(d)

Accrued Expenses

v3.21.2
Accrued Expenses
 12 Months Ended
Dec. 31, 2020
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

NOTE 9 — ACCRUED EXPENSES


Accrued expenses consist of the following as of December 31, 2020 and 2019:


    For the Years Ended
December 31,		  
    2020     2019  
Consulting fees   $ 1,718,559     $ 613,115  
Professional fees     1,261,751       459,084  
Employee and director compensation     878,292       395,248  
Interest     184,576       15,571  
Other     45,321       3,003  
Research and development fees     17,817       120,631  
Travel expenses     4,600       -  
Patent costs     -       84,814  
    $ 4,110,916     $ 1,691,466  

As of December 31, 2020 and 2019, accrued expenses - related parties was $454,951 and $177,074, respectively. As of December 31, 2020, accrued expenses – related parties consisted of fees of professional fees and services. See Note 17 – Related Parties for details.