Quarterly report pursuant to Section 13 or 15(d)

ACCRUED LIABILITIES AND ACCOUNTS PAYABLE

v3.23.2
ACCRUED LIABILITIES AND ACCOUNTS PAYABLE
6 Months Ended
Jun. 30, 2023
ACCRUED LIABILITIES AND ACCOUNTS PAYABLE  
ACCRUED LIABILITIES AND ACCOUNTS PAYABLE

5.

ACCRUED LIABILITIES AND ACCOUNTS PAYABLE

Accrued liabilities consist of the following:

June 30, 

December 31, 

    

2023

    

2022

Legal

$

61,346

$

Accounting

 

113,923

 

73,970

Research and development

 

604,563

 

3,185,346

Other

 

(3,980)

 

178,330

Accrued liabilities

$

775,852

$

3,437,646

Accounts payable are current obligations due to vendors.  In May 2023, the Company entered into an agreement with a vendor which gives the option to defer payment on approximately $5.3 million of current accounts payable and accrued liabilities until March 31, 2024. The outstanding balance of invoices due to the vendor will accrue interest at an annual rate of 5.5%, which will be paid monthly. The Company may repay the outstanding balance at any time.