Accrued
expenses and other current liabilities consist of:
SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
| |
December
31, 2021 | | |
December
31, 2020 | |
| |
| | |
| |
| |
| | |
| |
Accrued
payroll | |
$ | 28,370 | | |
$ | - | |
Accrued
research and development expenses | |
| 29,672 | | |
| - | |
Accrued
general and administrative expenses | |
| 76,928 | | |
| 109,968 | |
Accrued
DIP and Plan costs related to DIP Funding and Plan | |
| - | | |
| 657,598 | (1) |
Total
accrued expenses | |
$ | 134,970 | | |
$ | 767,566 | |
(1) | | Amount
represents DIP and Plan costs associated with the Auctus DIP Funding and the Plan. As of December 31, 2020, these amounts were note finalized
and, as a result, were recorded as accrued expenses in the consolidated balance sheets. Subsequent to December 31, 2020, upon finalization,
the amount representing the costs associated with the DIP Funding and the Plan was converted into a Secured Convertible Note and subsequently,
in connection with the Company’s public offering, into shares of preferred and common stock and warrants to purchase common stock. |
|