Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES

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ACCRUED EXPENSES
 9 Months Ended
Sep. 30, 2015
Accrued Liabilities [Abstract]  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]
7.
ACCRUED EXPENSES
 
The current portion of accrued expenses is comprised of the following:
 
 
 
September 30,
 
December 31,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
Accrued compensation & payroll taxes
 
$
1,574,720
 
$
2,003,866
 
Other taxes payable
 
 
224,597
 
 
186,559
 
Accrued interest
 
 
245,738
 
 
321,729
 
Other accrued expenses
 
 
62,801
 
 
143,637
 
Total
 
$
2,107,856
 
$
2,655,791
 
 
During May 2015, the Company entered into a payment plan, under which it agreed to pay its past due Argentine payroll tax obligations over a period of 36 months. The current portion of payments due under the plan is $116,112, included in accrued compensation and payroll taxes above. The non-current portion of accrued expenses of $257,981 represents payments under the plan that are scheduled to be paid after twelve months.