Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses

Accrued Expenses

9 Months Ended

Sep. 30, 2019

Note 6 – Accrued Expenses

Accrued expenses at September 30, 2019 (unaudited) and December 31, 2018 consisted of the following:

	September 30,		December 31,
	2019		2018
Commissions payable	$	19,113	$	19,113
Sales tax payable		8,009		8,016
Accrued payroll and related liabilities		6,761,173		3,400,052
Accrued property tax		41,784		47,396
Accrued interest		2,586,652		5,464,837
Other accrued expenses		1,125,488		1,771,867
Accrued expenses	$	10,542,219	$	10,711,281

Accrued expenses at December 31, 2018 included $4.9 million of interest due under the terms of a settlement agreement for a prepaid forward purchase contract related to an accounts receivable financing, which was paid by Mr. Diamantis on behalf of the Company during the nine months ended September 30, 2019, as more fully discussed in Note 7. Accrued expenses at September 30, 2019 and December 31, 2018 included $1.8 million and $0.3 million, respectively, of accrued interest due to Mr. Diamantis related to loans made by Mr. Diamantis to the Company as more fully discussed in Note 7.