General form of registration statement for all companies including face-amount certificate companies

Accrued Expenses

v3.19.3
Accrued Expenses
 9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Accrued Liabilities [Abstract]    
Accrued Expenses

6. ACCRUED EXPENSES

 

Accrued expenses are comprised of the following:

 

    September 30,
2019		     December 31,
2018		  
             
Accrued compensation and payroll taxes   $ 117,195     $ 149,019  
Accrued taxes payable - Argentina     225,352       292,535  
Accrued interest     447,652       404,239  
Other accrued expenses     241,123       339,574  
Accrued expenses, current     1,031,322       1,185,367  
Accrued payroll tax obligations, non-current     71,099       57,786  
Total accrued expenses   $ 1,102,421     $ 1,243,153  

9. ACCRUED EXPENSES

 

Accrued expenses are comprised of the following:

 

    December 31,  
    2018     2017  
Accrued compensation and payroll taxes   $ 149,019     $ 463,604  
Accrued taxes payable - Argentina     292,535       63,550  
Accrued interest     404,239       255,481  
Other accrued expenses     339,574       217,886  
Accrued expenses, current     1,185,367       1,000,521  
Accrued payroll tax obligations, non-current     57,786       247,515  
Total accrued expenses   $ 1,243,153     $ 1,248,036  

 

During May 2015, the Company entered into a payment plan, under which it agreed to pay its Argentine payroll tax obligations over a period of 36 months. The current portion of payments due under the plan is $113,670 and $230,506 as of December 31, 2018 and 2017, respectively, which is included in accrued compensation and payroll taxes above. The non-current portion of accrued expenses represents payments under the plan that are scheduled to be paid after twelve months. The Company incurred interest expenses of $52,209 and $113,679 during the years ended December 31, 2018 and 2017, respectively, related to this payment plan.