Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses (Tables)

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Accrued Expenses (Tables)
9 Months Ended
Sep. 30, 2015
Payables and Accruals [Abstract]  
Schedule of 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