Annual report pursuant to Section 13 and 15(d)

Accrued Expenses and Other Current Liabilities (Tables)

v3.20.2
Accrued Expenses and Other Current Liabilities (Tables)
 12 Months Ended
Dec. 31, 2019
Payables and Accruals [Abstract]  
Schedule of 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).