Annual report pursuant to Section 13 and 15(d)

Accrued Expenses

v3.19.1
Accrued Expenses
12 Months Ended
Dec. 31, 2018
Payables and Accruals [Abstract]  
Accrued Expenses

7. Accrued Expenses

 

Accrued expenses consist of the following:

 

    December 31, 2018     December 31, 2017  
Accrued salaries   $ 141,573     $ 502,994  
Accrued accounts payable trade expenses     2,252,171       365,866  
Accrued bonuses     121,483       524,000  
Accrued sales tax     37,441        
Accrued dividends     900,000        
Accrued unused paid time off     199,324       214,062  
Accrued interest     108,143        
Total accrued expenses   $ 3,760,135     $ 1,606,922  

 

Accrued accounts payable trade increased from 2018 to 2017 primarily due to the accrual of contract penalties charged by a supply vendor and accruals for U.S. sales taxes owed to state tax authorities owed at December 31, 2018.