4. Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2017

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

The following table sets forth the components of the Company’s prepaid expenses and other current assets at December 31, 2017 and December 31, 2016:

	December 31, 2017		December 31, 2016
Collaborative development agreement	$	191,531	$	–
Payment with a letter of intent to acquire business		–		32,500
Prepaid rent		55,211		–
Vendor advances		43,219		–
Prepaid service agreements		578,732		83,690
Employee advance and other payroll related items		15,734		–
Other prepaid expenses and current assets		150,952		26,018
Total	$	1,035,379	$	142,208

Prepaid expenses and other assets represent prepayments made in the normal course and in which the economic benefit is expected to be realized within twelve months.