ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

9 Months Ended

Sep. 30, 2021

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

NOTE 5 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

NOTE 5 – ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payables are recognized initially at the transaction price and subsequently measured at the undiscounted amount of cash or other consideration expected to be paid. Accrued expenses are recognized based on the expected amount required to settle the obligation or liability.

The following table sets forth the components of the Company’s accrued liabilities on September 30, 2021 and December 31, 2020.

	9/30/21		12/31/20
Accounts payable and accrued expense	$	527,430		587,230
Accrued interest		162,221		466,801
Accrued interest and penalties Golock (a)		-		1,172,782
Soundstr Obligation		145,259		145,259
Total accounts payable and accrued liabilities	$	834,910		2,372,072

(a) See Note 9 related to the reversal of interest and penalties for Golock.