Quarterly report pursuant to Section 13 or 15(d)

4. ACCRUED EXPENSES

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4. ACCRUED EXPENSES
 3 Months Ended
Mar. 31, 2017
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

Accrued expenses as of March 31, 2017 and December 31, 2016 were as follows:

 

    March 31, 2017     December 31, 2016  
             
Royalty buy-out   $ 2,432,000     $ –  
Accrued payroll expenses     266,090       208,126  
Other accrued liabilities     222,601       170,092  
    $ 2,920,691     $ 378,218