Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

v3.4.0.3
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)
3 Months Ended
Mar. 31, 2016
Payables and Accruals [Abstract]  
Schedule Of Accrued Expenses And Other Current Liabilities [Table Text Block]
As of March 31, 2016 and December 31, 2015, Accrued Expenses and Other Current Liabilities were comprised of the following:
 
 
 
March 31,
 
 
December 31,
 
 
 
2016
 
 
2015
 
Accrued interest payable[1]
 
$
681,291
 
 
$
817,452
 
Accrued dividends payable
 
 
471,023
 
 
 
451,133
 
Accrued compensation expense[2]
 
 
2,189,158
 
 
 
2,015,277
 
Other accrued expense
 
 
205,801
 
 
 
295,083
 
Accrued expenses, current
 
$
3,547,273
 
 
$
3,578,945
 
 
 
[1]
Accrued interest payable includes approximately $300,000 and $300,000 of estimated penalties and interest associated with the unpaid payroll taxes as of March 31, 2016 and December 31, 2015, respectively.
 
 
[2]
Accrued compensation expense includes $1,863,031 and $1,863,031 of unpaid payroll taxes for the period ended March 31, 2016 and December 31, 2015, respectively.