Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES

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ACCRUED EXPENSES
 6 Months Ended
Jun. 30, 2023
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

7. ACCRUED EXPENSES

 

Accrued expenses are comprised of the following:

 

    June 30,     December 31,  
    2023     2022  
             
Accrued compensation and payroll taxes   $ 542,659     $ 652,943  
Accrued taxes payable - Argentina     189,722       270,239  
Accrued interest     141,303       78,368  
Other accrued expenses     384,479       663,266  
Accrued expenses, current     1,258,163       1,664,816  
Accrued payroll tax obligations, non-current     81,638       66,018  
Total accrued expenses   $ 1,339,801     $ 1,730,834  

 

On November 27, 2020, the Company entered into various payment plans, pursuant to which it agreed to pay its Argentine payroll tax obligations over a period of 60 to 120 months. The current portion of payments due under the plan is $84,929 and $209,938 as of June 30, 2023 and December 31, 2022, respectively, which is included in accrued taxes payable – Argentina, above. The non-current portion of accrued payroll tax obligations represents payments under the plan that are scheduled to be paid after twelve months. The Company incurred interest expense of $64,283 and $81,587 during the three and six months ended June 30, 2023, respectively, and incurred interest expense of $28,690 and $33,177 during the three and six months ended June 30, 2022, respectively, related to these payment plans.