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Accrued Expenses | 12 Months Ended
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Dec. 31, 2019
Payables and Accruals [Abstract] |
Accrued Expenses | NOTE I – ACCRUED EXPENSES Accrued expenses consist of the following:
|  | 2019 |  |  | 2018 |
Compensation and incentives |  | $ | 2,821,349 |  |  | $ | 2,567,732 |
Professional services |  |  | 422,130 |  |  |  | 400,367 |
Deposit |  |  | 450,000 |  |  |  | — |
Interest |  |  | 9,494,391 |  |  |  | 6,508,621 |
Accrued insurance obligations |  |  | 221,504 |  |  |  | 309,826 |
Other operating |  |  | 13,341 |  |  |  | 18,000 |
Total accrued expenses |  | $ | 13,422,715 |  |  | $ | 9,804,546 |
Professional fees are mainly attributable to legal fees and related and other professional services in support of operations, (See NOTE J). Compensation and incentives includes $2.6 million accrued incentive awards for the company employees for 2018 and prior and $0.2 million additional for 2019. The Board of Directors will only approve incentives to be paid when and if there is sufficient excess cash above and beyond normal operating requirements. Other operating expenses contain general items due resulting from general operations. Accrued interest is due to several lenders per debt agreements described in NOTE H. During the quarter ended September 30, 2019, we received an earnest money deposit of $450,000 from a company controlled by Greg Stemm, our past Chairman of the Board (see NOTE J for further information). The earnest money deposit relates to a draft agreement related to potential sale of a stake of our equity in CIC. This transaction has not yet been consummated. Accrued insurance obligations for the years ended December 31, 2019 and 2018 primarily consisted of directors and officers insurance obligations.

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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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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