Accounts Payable and Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses

The Company’s accounts payable and accrued expenses consist of the following for the periods presented:

	June 30, 2024		December 31, 2023
Accounts payable	$	3,820,663	$	2,295,575
Accrued legal and accounting fees (1)		2,564,028		200,641
Incentive compensation		5,015,292		1,925,191
Other		938,572		953,087
Accounts payable and accrued expenses	$	12,338,555	$	5,374,494

⁽¹⁾ As discussed in Note 2 – Acquisitions and Merger, the Company expects to close the NRO Acquisition in August 2024 and plans to fund a portion of the transaction through the issuance of equity securities. The increase in accounts payable and accrued legal and accounting fees from December 31, 2023 is driven by the cumulative costs incurred relating to these transactions.