7. Accrued Expenses

12 Months Ended

Dec. 31, 2015

Accrued expenses at December 31, 2015 and 2014 consisted of the following:

		December 31,
		2015		2014
Commissions payable	$	106,915	$	319,270
Dividends payable		2,099,148		913,271
Accrued payroll and related liabilities		1,461,019		554,707
Accrued bonuses		50,628		–
Accrued interest		556,646		89,488
Other accrued expenses		1,011,099		420,680
Accrued expenses	$	5,285,455	$	2,297,416