Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses and Other Current Liabilities (Tables)

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Accrued Expenses and Other Current Liabilities (Tables)
3 Months Ended
Mar. 31, 2017
Payables and Accruals [Abstract]  
Schedule of 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.