Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES

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ACCRUED EXPENSES
 9 Months Ended
Sep. 30, 2023
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

7. ACCRUED EXPENSES

 

Accrued expenses are comprised of the following:

 

    September 30,     December 31,  
    2023     2022  
             
Accrued compensation and payroll taxes   $ 512,165     $ 652,943  
Accrued taxes payable - Argentina     171,521       270,239  
Accrued interest     175,783       78,368  
Accrued cash true up obligation (see Note 10)     186,832       -  
Other accrued expenses     438,732       663,266  
Accrued expenses, current     1,485,033       1,664,816  
Accrued payroll tax obligations, non-current     52,328       66,018  
Total accrued expenses   $ 1,537,361     $ 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 $129,867 and $209,938 as of September 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 $14,031 and $95,617 during the three and nine months ended September 30, 2023, respectively, and incurred interest expense of approximately $32,000 and $65,000 during the three and nine months ended September 30, 2022, respectively, related to these payment plans.