Annual report pursuant to Section 13 and 15(d)

Accrued Expenses

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Accrued Expenses
 12 Months Ended
Dec. 31, 2018
Accrued Liabilities [Abstract]  
Accrued Expenses

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.