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Accrued Expenses and Other Current Liabilities
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities

NOTE 8 - Accrued Expenses and Other Current Liabilities

 

Accrued expenses and other current liabilities were comprised of the following as of December 31, 2024 and 2023, respectively:

 

   December 31, 2024   December 31, 2023 
         
Sales tax payable  $-   $288,466 
Refund liability   766,721    708,629 
Accrued payroll   302,685    297,059 
Accrued bonus   963,800    399,067 
Accrued expenses   255,154    215,485 
Accrued interest   -    29,712 
Other payables   34,175    34,094 
Total  $2,322,535   $1,972,512 

 

The Company made an assessment of sales tax payable, including any related interest and penalties, and accrued those estimates on the financial statements. Of the sales tax payable, $-0- and $78,947 are related to interest and penalties as of December 31, 2024 and 2023, respectively.

 

As of December 31, 2024 and 2023, the Company has accrued $766,721 and $708,629, respectively, in a proactive approach towards potential future refunds.

 

A bonus expense is accrued on an annual basis, when the Company’s financial or operational performance meets the required performance level. The Company has $963,800 and $399,067 accrued for bonuses as of December 31, 2024 and 2023, respectively.