Annual report pursuant to Section 13 and 15(d)

Accrued Expenses

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Accrued Expenses
 12 Months Ended
Dec. 31, 2016
Accrued Liabilities [Abstract]  
Accrued Expenses

9. ACCRUED EXPENSES

 

Accrued expenses are comprised of the following:

 

    December 31,  
    2016     2015  
Accrued compensation and payroll taxes   $ 1,030,015     $ 1,405,977  
Accrued taxes payable     79,926       97,428  
Accrued interest     270,761       255,497  
Other accrued expenses     311,041       116,385  
Accrued expenses, current     1,691,743       1,875,287  
Accrued payroll tax obligations, non-current     344,127       399,119  
Total accrued expenses   $ 2,035,870     $ 2,274,406  

 

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 $226,078 as of December 31, 2016, 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.