Note 7 - Accounts Payable and Accrued Expenses

9 Months Ended

Sep. 30, 2016

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Note 7. Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses included the following:

	December 31,		September 30,
	2015		2016
Accounts payable and accrued expenses	$	174,539	$	52,576
Payroll tax liability		137,500		137,500
Accrued interest		12,944		36,113
Total accounts payable and accrued expenses	$	324,983	$	226,189

The payroll tax liability is our estimate of payroll taxes due on the past services of independent contractors. We are currently attempting to reduce the liability to approximately $5,000 through the IRS Voluntary Classification Settlement Program.

On September 27, 2016, the board approved a $120,000 bonus for our CTO and CEO, each will receive $60,000. As of September 30, 2016, $100,000 of this bonus remains to be paid.