General form of registration statement for all companies including face-amount certificate companies

Accrued Expenses

v2.4.1.9
Accrued Expenses
 12 Months Ended
Dec. 31, 2014
Payables and Accruals [Abstract]  
Accrued Expenses

11. Accrued Expenses

Accrued expenses consist of the following:

 

     December  
     2014     2013  

Accrued expenses

     

Accrued expenses bonus payments

    $ 252,953      $ 137,660   

Accrued expenses severance payments

      –        319,031   

Payroll related accruals

      79,939        90,549   

Accrued professional fees

      403,451        –   

Other accrued expenses

      7,523        12,389   
  

 

 

    

 

 

  

Total amount of accrued expenses

   743,866      559,629   
  

 

 

    

 

 

  

Accrued expenses non-current

Reserve for litigation with TUM

   327,937      373,059   

Accrued expenses Restoration

   6,051      6,883   

Total amount of accrued expenses non-current

   333,988      379,942   
  

 

 

    

 

 

  

Total amount of accrued expenses

 $ 1,077,854    $ 939,571