Other Payable and Accrued Expenses

6 Months Ended

Jun. 30, 2024

Other Payable - Others and Accrued Expenses [Abstract]

Other Payable and Accrued Expenses

NOTE 11 - Other Payable and Accrued Expenses

Nature	June 30, 2024		December 31, 2023
	(Unaudited)		As restated
Outside service, professional, and consultant fee		3,952,904		3,553,169
Land commission		1,302,062		1,379,879
Equity Financing		1,948,100		-
Interest payable		1,547,973		1,037,126
Bonus, health insurance, and payroll taxes		1,189,933		716,786
Investment payable		443,385		469,884
R&D supplies		468,464		448,996
Employee reimbursement		300,979		348,308
Office expense		176,667		58,014
Others		39,151		44,950
Total		11,369,618		8,057,112

The Company also notes that $5,857,545 of our Accrued Expenses of $6,598,518 as of June 30, 2024 was our accrual for unpaid salaries due to substantially all of our employees (including those of our wholly owned subsidiaries) continuing to perform their duties despite salary deferrals that began for substantially all of our employees in 2023. As of the date of this filing, approximately forty percent (40%) of such accrued unpaid salaries have been settled pursuant to a form of letter outlining Aerkomm employee’s stock option exercise forms. Employees signing such agreements have agreed to the accelerated vesting and exercise of options to acquire an aggregate of 1,176,956 shares of the Company’s common stock in return for waiving the right to receive an aggregate of $3,051,000 in unpaid salary.