| Schedule of Accrued Expenses and Other Current Liabilities |
Accrued
expenses and other current liabilities consisted of the following as of March 31, 2023 and December 31, 2022:
Schedule of Accrued Expenses and
Other Current Liabilities
| | |
March 31, | | |
December 31, | |
| | |
2023 | | |
2022 | |
| L&F milestone payment liability | |
$ | 500,000 | | |
$ | 1,500,000 | |
| L&F Note [1] | |
| - | | |
| (351,579 | ) |
| | |
| | | |
| | |
| L&F, net | |
| 500,000 | | |
| 1,148,421 | |
| Payroll accrual | |
| 291,552 | | |
| 584,226 | |
| Other accrued expenses | |
| 51,968 | | |
| 214,229 | |
| Federal income tax payable | |
| 106,683 | | |
| 106,683 | |
| Bonus accrual | |
| 764,590 | | |
| - | |
| Registration delay liability [2] | |
| 398,019 | | |
| - | |
| Accrued interest | |
| | | |
| | |
| Deferred rent | |
| | | |
| | |
| Total accrued expenses and other current liabilities | |
$ | 2,112,812 | | |
$ | 2,053,559 | |
| [1] | | See Note 7 –
Commitments and Contingencies for details of the forgiveness of the L&F Note. |
| [2] | | See Note 8 –
Stockholders’ Permanent and Temporary Equity for details of the registration delay liability. |
|
As
of December 31, 2022 and 2021, accrued expenses and other current liabilities consisted of the following:
Schedule of Accrued Expenses and
Other Current Liabilities
| | |
2022 | | |
2021 | |
| | |
For the Years Ended | |
| | |
December 31, | |
| | |
2022 | | |
2021 | |
| L&F milestone payment liability | |
$ | 1,500,000 | | |
$ | 1,500,000 | |
| L&F Note | |
| (351,579 | ) | |
| (351,579 | ) |
| | |
| | | |
| | |
| L&F, net | |
| 1,148,421 | | |
| 1,148,421 | |
| Payroll accrual | |
| 584,226 | | |
| - | |
| Other accrued expenses | |
| 214,229 | | |
| - | |
| Federal income tax payable | |
| 106,683 | | |
| - | |
| Accrued interest | |
| - | | |
| 748,767 | |
| Deferred rent | |
| - | | |
| 16,913 | |
| Total accrued expenses and other current liabilities | |
$ | 2,053,559 | | |
$ | 1,914,101 | |
|