ACCRUED EXPENSES |
NOTE
8 – ACCRUED EXPENSES.
At
March 31, 2022 and December 31, 2021, respectively, accrued expenses consisted of the following:
SCHEDULE
OF ACCRUED EXPENSES
| |
March 31, 2022 | | |
December
31, 2021 | |
Accrued salaries and benefits | |
$ | 1,259,169 | | |
$ | 1,459,299 | |
Accrued dividends | |
| 691,450 | | |
| 691,861 | |
Accrued traffic settlement(1) | |
| 10,254 | | |
| 10,254 | |
Accrued legal settlement(2) | |
| 216,101 | | |
| 81,101 | |
Accrued legal fees | |
| 174,878 | | |
| 182,537 | |
Accrued other professional fees | |
| 255,920 | | |
| 592,421 | |
Share issuance liability(4) | |
| 27,012 | | |
| 189,067 | |
Accrued warrant penalty(3) | |
| 366,899 | | |
| 366,899 | |
Accrued Value-Added Tax payable | |
| 49,207 | | |
| - | |
Other accrued expenses | |
| 155,318 | | |
| 191,226 | |
Total accrued expenses | |
$ | 3,206,208 | | |
$ | 3,764,665 | |
(1) |
The
Company negotiates with its publishing partners regarding questionable traffic to arrive at traffic settlements. |
(2) |
Accrued
legal settlement related to the Encoding legal matter. See Note 10. |
(3) |
The
Company has sold units of its securities to various investors in several private placements. As part of each private placement, the
Company agreed to file a registration statement with the SEC to register the resale of the shares by the respective holder in order
to permit the public resale; such filing deadlines ranged from 120 to 270 days following the closing date of the respective placement
and the Company was liable to pay a penalty fee for failure to file the resale registration statement within the allotted timeframe. |
(4) |
Share
issuance liability related to issuance of the Company’s common stock in connection with the Oceanside, MediaHouse and Wild
Sky acquisitions and Oceanside employee share issuances. |
|