8. ACCRUED EXPENSES (AS RESTATED)

A.G.P. Fees (as restated)

On January 23, 2020, the Company entered into an agreement with Alliance Global Partners ("A.G.P"), whereby A.G.P. would serve as the exclusive placement agent and investment banker in a private placement ("Placement") of $15,000,000 of equity or equity-like securities of the Company. The Company would pay A.G.P an aggregate cash placement fee equal to 8% of the face amount of securities in the Placement, which is due upon the closing of a Placement. In addition, upon the closing of a Placement, the Company shall issue A.G.P warrants to purchase the number of shares of common stock of the Company equal to 5% of the aggregate number of shares of common stock included in the Placement. See Notes 6, 7 and 9 for additional information.

Resignation Agreement (as restated)

On June 12, 2020, the Company entered into a reimbursement agreement with the former Chief Executive Officer of the Company, a former Director and the former Chief of Staff and a resignation agreement with the former Chief Executive Officer and Tyche Capital LLC, whereby upon the closing of the Business Combination, their employment would be terminated with the Company (collectively referred to as the "Resignation Agreement"). Pursuant to the Resignation Agreement, 180 became obligated to reimburse the Company $135,000 for certain out-of-pocket expenses paid for by the Company, in exchange for 25,568 shares of common stock issuable to 180. In addition, pursuant to the Resignation Agreement, the Company became obligated to pay a cash severance payment of $500,000 (of which $200,000 was paid during September 2020) to the former Chief Executive Officer. Finally, pursuant to the Resignation Agreement, the Escrow Agent became obligated to release 500,000 shares of common stock to the Sponsor and the Company became obligated to issue 500,000 replacement shares of common stock to the escrow agent (see Note 11 for additional information).