Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses

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

NOTE 4 - ACCRUED EXPENSES

 

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

 

    September 30,     December 31,  
    2021     2020  
Consulting fees   $ 627,020     $ 1,718,559  
Professional fees     561,599       1,261,751  
Litigation accrual (1)     450,000      
-
  
Employee and director compensation     437,343       878,292  
Research and development fees     106,891       17,817  
Interest     22,538       184,576  
Other    
-
       45,321  
Travel expenses    
-
       4,600  
    $ 2,205,391     $ 4,110,916  

 

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

 

As of September 30, 2021 and December 31, 2020, accrued expenses - related parties were $130,548 and $454,951, respectively. See Note 10 - Related Parties for details.