|
NOTE 9. ACCRUED EXPENSES AND OTHER CURRENT
LIABILITIES
Accrued expenses and other current liabilities
consist of the following:
| |
|
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| |
|
|
|
|
|
|
| Accrued interest payable [1] |
|
$ |
2,431 |
|
|
$ |
1,673 |
|
| Accrued dividends payable |
|
|
769 |
|
|
|
690 |
|
| Accrued compensation expense [2] |
|
|
2,029 |
|
|
|
2,495 |
|
| Accrued rent [3] |
|
|
4,350 |
|
|
|
— |
|
| Accrued legal settlement expense [4] |
|
|
1,240 |
|
|
|
|
|
| Accrued legal expense |
|
|
1,836 |
|
|
|
— |
|
| Accrued taxes payable |
|
|
76 |
|
|
|
76 |
|
| Other accrued expense |
|
|
105 |
|
|
|
30 |
|
| Accrued expenses, current |
|
$ |
12,836 |
|
|
$ |
4,964 |
|
| [1] |
Accrued interest payable as of December 31, 2019 and 2018 includes $1,735 and $1,461, respectively, of estimated penalties and interest associated with prior period unpaid payroll taxes. |
| [2] |
Accrued compensation includes $1,868 in both December 31, 2019 and 2018, associated with prior period unpaid payroll taxes. |
| [3] |
Accrued rent is due to the default on the lease of the Company’s former office space in Naples, FL. The default terms include accruing interest monthly at 18% on the outstanding balance. |
| [4] |
Accrued legal settlement expense includes legal settlements that were outstanding at the Rental Home Portfolio Asset Purchase date, as amended on December 30, 2019 in excess of the $100 indemnification. (See Note 4 and 17). |
|