Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses

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Accrued Expenses
 9 Months Ended
Sep. 30, 2015
Payables and Accruals [Abstract]  
Accrued Expenses

5. Accrued Expenses

The Company has recorded the following accrued expenses as of September 30, 2015 and December 31, 2014, respectively:

 

     September 30,      December 31,  
     2015      2014  

Accrued expenses:

      

Accrued payroll and benefits

    $ 480,626       $ 332,892   

Accrued audit and tax

      156,553         403,450   

Accrued professional fees, and other

      396,747         7,524   
  

 

 

     

 

 

  

Total accrued expenses

      1,033,926         743,866   
  

 

 

     

 

 

  

Accrued expenses, non-current:

      

Reserve for litigation TUM

      302,490         327,937   

Accrued restoration cost

      5,581         6,051   
  

 

 

     

 

 

  

Total accrued expenses, non-current

      308,071         333,988   
  

 

 

     

 

 

  

Total accrued expenses

    $ 1,341,997       $ 1,077,854