ACCRUED EXPENSES
 12 Months Ended
Dec. 31, 2021
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]

NOTE 6 — ACCRUED EXPENSES

 

Accrued expenses consisted of the following as of December 31, 2021 and 2020:

 

   

December 31,

  
   

2021

    

2020

  

Interest and fees payable to the Guarantors of the Company’s loan agreement with Seaside Bank

   $ 644,670     $ 549,628  

Accrued interest payable

     1,227,588       882,515  

Vendor accruals and other

     79,132       79,138  

Total Accrued expenses

   $ 1,951,390     $ 1,511,281  

 

On February 10, 2021, as part of a settlement agreement, the Company transferred its entire member interest in U.S. Stem Cell, LLC to Dr. Kristen Comella as settlement for $100,000 of accrued interest owed to Dr. Comella, resulting in a gain on settlement of $100,000 (See Note 5, Note 7 and Note 12 “Litigation”).