Annual report pursuant to Section 13 and 15(d)

Accrued Expenses

v3.22.1
Accrued Expenses
 12 Months Ended
Dec. 31, 2021
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

NOTE 7 - ACCRUED EXPENSES

 

Accrued expenses consist of the following as of December 31, 2021 and 2020:

 

    December 31,  
    2021     2020  
Consulting fees   $ 548,281     $ 1,718,559  
Professional fees     252,973       1,261,751  
Litigation accrual (1)     300,000      
-
  
Employee and director compensation     725,569       878,292  
Research and development fees     91,737       17,817  
Interest     25,433       184,576  
Other     20,587       49,921  
    $ 1,964,580     $ 4,110,916  

 

(1) See Note 12 - Commitments and Contingencies, Potential Legal Matters.

 

As of December 31, 2021 and 2020, accrued expenses - related parties were $18,370 and $454,951, respectively. See Note 15 - Related Parties for details.