Accrued Expenses and Other Current Liabilities

9 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

NOTE 7 - Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities were comprised of the following as of September 30, 2023 and December 31, 2022, respectively:

	September 30,		December 31,
	2023		2022
Sales tax payable	$	288,482	$	288,466
Accrued payroll		247,972		295,673
Accrued bonus		-		468,209
Accrued expenses		147,551		182,294
Accrued interest		171,578		159,042
Other payables		45,071		349,288
Total	$	900,654	$	1,742,972

The Company made an assessment of sales tax payable, including any related interest and penalties, and accrued those estimates on the financial statements. Of the sales tax payable, $78,947 and $78,947 are related to interest and penalties as of September 30, 2023 and December 31, 2022, respectively.

A bonus expense is accrued on an annual basis, when the Company’s financial or operational performance meets the required performance level. The Company has $-0- and $468,209 accrued for bonuses as of September 30, 2023 and December 31, 2022, respectively.

HOUR LOOP, INC.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS