Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses and Other Long-Term Liabilities

v3.8.0.1
Accrued Expenses and Other Long-Term Liabilities
9 Months Ended
Sep. 30, 2017
Payables and Accruals [Abstract]  
Accrued Expenses and Other Long-Term Liabilities
12. Accrued Expenses and Other Long-Term Liabilities
 
Accrued expenses and other long-term liabilities, excluding National, consisted of the following:
 
 
 
September 30,
 
 
December 31,
 
($ in thousands)
 
2017
 
 
2016
 
Accrued expenses:
 
 
 
 
 
 
 
 
Professional fees
 
$
1,297
 
 
$
1,253
 
Salaries, bonuses and related benefits
 
 
4,178
 
 
 
2,846
 
Accrued Severance
 
 
-
 
 
 
53
 
Accrued Legal Settlement (1)
 
 
2,212
 
 
 
-
 
Ovamed manufacturing rights - short term component
 
 
-
 
 
 
900
 
Research and development
 
 
3,311
 
 
 
394
 
Dr. Falk Pharma milestone
 
 
2,950
 
 
 
2,634
 
Other
 
 
2,703
 
 
 
2,002
 
Total accrued expenses
 
$
16,651
 
 
$
10,082
 
 
 
 
 
 
 
 
 
 
Other long-term liabilities:
 
 
 
 
 
 
 
 
Deferred rent and long-term lease abandonment charge
 
 
4,736
 
 
 
5,014
 
Total other long-term liabilities
 
$
4,736
 
 
$
5,014
 
 
(1)
In connection with a legal settlement (see Note 16), the Company is required to deliver 200,000 Mustang common shares, held by the Company, to the Plaintiff. At September 30, 2017, the Company recorded, this settlement as an accrued, since in accordance with ASC 450 – Contingencies, the transfer of the consideration was probable. As such the Company recorded an accrued expense of $2.0 million representing the value of the shares transferred.
 
National's accounts payable and other accrued expenses as of June 30, 2017, consisted of the following:
 
 
 
June 30,
 
 
 
2017
 
Legal
 
$
836
 
Audit
 
 
148
 
Telecommunications
 
 
196
 
Data Services
 
 
450
 
Regulatory
 
 
661
 
Settlements
 
 
2,633
 
Deferred rent
 
 
177
 
Contingent consideration payable
 
 
636
 
Income taxes payable
 
 
927
 
Other
 
 
1,844
 
Total
 
$
8,508