Accrued Expenses

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Accrued Expenses

4.Accrued Expenses

Accrued expenses consist of the following:

	June 30,		December 31,
	2024		2023
Professional Fees	$	66,982	$	43,552
Accrued compensation		3,840,473		3,322,454
Other		494,999		210,762
Total accrued expenses	$	4,402,454	$	3,576,768

As of June 30, 2024, $3,486,362 of compensation due to current and former directors and officers is included in accrued compensation. As of December 31, 2023, $3,038,399 of compensation was due to current and former directors and officers, of which $2,807,749 was included in accrued expenses and $230,650 was included in other noncurrent liabilities.

Other noncurrent liabilities of $230,650 as of December 31, 2023, are related to the founder and director's forwent salary under an employment contract dated January 2022, that is repayable through February 2025. Amounts repayable within one year are classified as accrued expenses and amounts repayable in more than one year are recognized as noncurrent liabilities. As of June 30, 2024, no amounts related to the January 2022 employment contract were included in noncurrent liabilities.

4.Accrued Expenses

Accrued expenses consist of the following:

	December 31,
	2023		2022
Professional Fees	$	43,552	$	608,846
Accrued compensation		3,322,454		1,364,142
Other		210,762		65,303
Total accrued expenses	$	3,576,768	$	2,038,291

During the year ended December 31, 2023, the Company recorded a liability of $3,038,399 for unpaid compensation due to current and former directors and officers, of which $2,807,749 is included in accrued expenses and $230,650 is included in other noncurrent liabilities.

During the year ended December 31, 2022, the Company recorded a liability of $1,885,843 for unpaid compensation due to current and former directors and officers, of which $1,095,043 is included in accrued expenses and $790,800 is included in other noncurrent liabilities.

Other noncurrent liabilities of $790,800, as noted above, solely related to the founder and director's employment contract dated January 2022 for forwent salary that is repayable over four years. Amounts repayable within one year are classified as accrued expenses and amounts repayable in more than one year are recognized as noncurrent liabilities. During the year ended December 31, 2023, $560,150 was reclassified from other noncurrent liabilities to accrued expenses.