Annual report pursuant to Section 13 and 15(d)

ACCRUED EXPENSES

v2.4.1.9
ACCRUED EXPENSES
 12 Months Ended
Dec. 31, 2014
Accrued Liabilities [Abstract]  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]
9.
ACCRUED EXPENSES
 
Accrued expenses are comprised of the following:
 
 
 
December 31,
 
 
 
2014
 
2013
 
Accrued compensation
 
$
1,870,082
 
$
1,529,951
 
Accrued taxes payable
 
 
320,343
 
 
182,890
 
Accrued interest
 
 
321,729
 
 
647,247
 
Other accrued expenses
 
 
143,637
 
 
173,235
 
Total
 
$
2,655,791
 
$
2,533,323
 
 
The non-current portion of the above amounts represents accrued interest that was subsequently exchanged for equity securities prior to the release of the financial statements. See Note 15 – Related Party Transactions for the portion of accrued interest attributable to related parties.