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Accrued Expenses | 12 Months Ended
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Dec. 31, 2014
Payables and Accruals [Abstract] |
Accrued Expenses | NOTE L – ACCRUED EXPENSES Accrued expenses consist of the following:
|  | 2014 |  |  | 2013 |
Compensation and bonuses |  | $ | 1,451 |  |  | $ | 1,610,357 |
Customer deposits |  |  | — |  |  |  | 22,083 |
Project proceeds payable |  |  | — |  |  |  | 1,325,122 |
Vessel operations |  |  | 1,525,513 |  |  |  | 1,394,670 |
Professional services |  |  | 465,000 |  |  |  | 222,274 |
Income tax provision |  |  | — |  |  |  | 496,055 |
Accrued insurance payable |  |  | 304,584 |  |  |  | — |
Other operating |  |  | 91,414 |  |  |  | 223,859 |
Total accrued expenses |  | $ | 2,387,962 |  |  | $ | 5,294,420 |
Vessel operations relates to expenditures required to operate our ships such as fuel, repair and maintenance, port fees and charter related. Professional fees are mainly attributable to legal fees and related and other professional services in support of operations. Other operating expenses contain general items related to, but not limited to marketing, insurance and the exhibit. As discussed in the Revenue Recognition and Accounts Receivable of NOTE A, the United Kingdom Government received 20% of available proceeds after our reimbursement of search and recovery expenses on the Gairsoppa project. The Project proceeds payable represents a share of the United Kingdom Government’s 20%.

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Subparagraph a -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 + Details
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