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ACCRUED EXPENSES | 6 Months Ended
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Jun. 30, 2017
Payables and Accruals [Abstract] |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 7. ACCRUED EXPENSES At June 30, 2017 and December 31, 2016, accrued expenses amounted to $4,437,601 and $5,518,823, respectively. Accrued expenses represent expenses that are owed at the end of the period and have not been billed by the provider or are estimates of services provided. The following table details the items comprising the balances outstanding at June 30, 2017 and December 31, 2016:
|  | June 30, 2017 |  | December 31, 2016 |
Accrued professional fees |  | $ | 317,033 |  | $ | 220,140 |
PayOnline accrual |  |  | 2,509,256 |  |  | 3,784,451 |
Accrued interest |  |  | 165,082 |  |  | 183,778 |
Accrued bonus |  |  | 1,179,563 |  |  | 774,485 |
Accrued franchise taxes |  |  | - |  |  | 180,000 |
Accrued foreign taxes |  |  | 177,516 |  |  | 131,810 |
Short term loan advances |  |  | 55,714 |  |  | 174,376 |
Other accrued expenses |  |  | 33,437 |  |  | 69,783 |
|  | $ | 4,437,601 |  | $ | 5,518,823 |
The accrual for PayOnline at June 30, 2017 consists of a $1.1 million stock price guarantee obligation pursuant to a settlement agreement entered into in connection with the PayOnline acquisition. Additionally, the accrual includes a $1.4 million obligation for refundable merchant reserves assumed pursuant to an amendment to the PayOnline acquisition agreement. See Note 11 and Note 17 for additional information. The accrual for PayOnline at December 31, 2016 consists of a $0.3 million earn-out accrual and a $2.0 million stock price guarantee obligation pursuant to a settlement agreement entered into in connection with the PayOnline acquisition. Additionally, the accrual includes a $1.4 million obligation for refundable merchant reserves assumed pursuant to an amendment to the PayOnline acquisition agreement. Accrued bonuses are attributed to our TOT Group subsidiaries resulting from a discretionary bonus accrual for $1,179,563 and $774,485 at June 30, 2017 and December 31, 2016, respectively.

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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 + Details
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