6. Accrued Expenses

Accrued expenses consist of the following:

	As of December 31,
	2016			2015
Offering Costs		$	227		$	227
Compensation			1,481			1,093
Board of Director Fees			182			120
Miscellaneous Accruals			295			877
Total Accrued Expenses		$	2,185		$	2,317

The accumulated offering costs that were accrued pertain to consulting fees associated with securing equity financing for the Company prior to the IPO. Prior to becoming Chief Executive Officer (“CEO”), the Company’s current CEO performed consulting services for the Company, which included managing finance, sales, marketing, operational and strategic planning for the Company, as well as assistance and strategic guidance in securing financing. The Company agreed to further delay and continue to accrue these amounts and increase the balance owed by 1% per month beginning January 1, 2017 to no later than January 31, 2018.

Two members of the Company’s board of directors have agreed to further defer fees earned from August 2016 to July 2016. The Company agreed to further delay and continue to accrue these amounts and increase the balance owed by 1% per month beginning January 1, 2017 to no later than January 31, 2018.

Three employees agreed to further defer amounts accrued to them as of December 31, 2016. The Company agreed to further delay and continue to accrue these amounts and increase the balance owed by 1% per month beginning January 1, 2017 to no later than January 31, 2018.