3. Accrued Expenses and Accounts Payable - Related Parties
|6 Months Ended|
Jun. 30, 2020
|Payables and Accruals [Abstract]|
|Accrued Expenses and Accounts Payable - Related Parties||
As of June 30, 2020 and December 31, 2019, the Company owed $197,000 and $207,000, respectively, pursuant to a separation agreement with a former executive officer effective April 1, 2017 as amended by letter agreements dated effective August 16, 2018 and March 31, 2019 which included as part of Accrued expenses and accounts payable on the accompanying balance sheet. The amount is to be repaid at an amount of $10,000 per month. During the six months ended June 30, 2020 the Company made $10,000 in payments reducing the outstanding balance to $197,000.
Accrued Expenses and Accounts Payable – Related Parties
Accrued expense – related parties consists of accrued fees due to members of the Board of Directors. As of June 30, 2020, and December 31, 2019, accrued expenses and accounts payable to related parties amounted to $6,000 and $7,000, respectively.
The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period.
No definition available.