Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses

v3.21.2
Accrued Expenses
 6 Months Ended
Jun. 30, 2021
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

NOTE 4 - ACCRUED EXPENSES

 

Accrued expenses consist of the following as of June 30, 2021 and December 31, 2020:

 

    June 30,     December 31,  
    2021     2020  
Consulting fees   $ 718,958     $ 1,718,559  
Professional fees     420,935       1,261,751  
Employee and director compensation     363,878       878,292  
Research and development fees     70,000       17,817  
Interest     113,254       184,576  
Settlement of Alpha Capital Note(1)     47,169      
-
  
Travel expenses    
-
       4,600  
Other     174,993       45,321  
    $ 1,909,187     $ 4,110,916  

 

(1)

See Note 8, Commitments and Contingencies, Convertible Promissory Note.

 

As of June 30, 2021 and December 31, 2020, accrued expenses - related parties were $300,968 and $454,951, respectively. As of June 30, 2021, accrued expenses – related parties consisted primarily of professional fees and services. See Note 10 – Related Parties for details.