Accrued Expense

As of March 31, 2015, Current Liabilities included accrued expense of $539,668 for audit fees, legal fees, travel expense, advisory fees, clinical trial hospital expense, patent expense, accrued license payments and management bonus accrual. As of December 31, 2014, Current Liabilities included accrued expense of $253,445, accrued expense - related party of $67,050 for MD Anderson clinical trial hospital expense and accrued license payments – related party of $100,000 for reimbursement of past patent expenses incurred by MD Anderson prior to the Bio-Path license and the annual license maintenance fee. As of March 31, 2015, MD Anderson was no longer a greater than 5% stockholder in the Company. As a result, the Company has consolidated accrued expense with accrued expense – related party and accrued license payments – related party on the financial statements beginning with this reporting period.