| Accrued Expenses and Other Current Liabilities |
5. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
As of March 31, 2017 and December
31, 2016, Accrued Expenses and Other Current Liabilities were comprised of the following:
| |
|
March 31, 2017 |
|
|
December 31, 2016 |
|
| Accrued interest payable[1] |
|
$ |
439,817 |
|
|
|
364,805 |
|
| Accrued dividends payable |
|
|
550,585 |
|
|
|
530,694 |
|
| Accrued compensation expense[2] |
|
|
2,490,527 |
|
|
|
2,299,738 |
|
| Other accrued expense |
|
|
26,964 |
|
|
|
6,868 |
|
| Accrued expenses, current |
|
$ |
3,507,893 |
|
|
|
3,202,105 |
|
| [1] |
Accrued interest payable includes approximately $300,000 of estimated penalties and interest associated with the unpaid payroll taxes as of March 31, 2017 and December 31, 2016, respectively. |
| |
|
| [2] |
Accrued compensation expense includes $1,863,031 of unpaid payroll taxes for the period ended March 31, 2017 and December 31, 2016, respectively. |
|