Accrued Liabilities

3 Months Ended

Mar. 31, 2026

Accrued liabilities consisted of the following:


	March 31, 2026		December 31, 2025
Accrued compensation	$	355,330	$	221,724
Accrued severance	274,038		274,038
Accrued professional fees	96,252		96,786

Accrued sales and property taxes	303,641		202,638
Accrued royalties	337,500		337,500
Accrued audit fees	191,000		531,000
Accrued settlement	219,641		319,546
Other accrued expenses	186,038		233,398
Accrued interest	4,530,112		4,303,157
Accrued purchase liability	3,173,515		3,287,881
Total accrued liabilities	$	9,667,067	$	9,807,668

On March 20, 2025, the Company completed the acquisition of SeaTrepid International LLC (“SeaTrepid”), an expert in providing subsea robotic services to customers throughout the world, for total consideration of $14,209,810. As of March 31, 2026, a liability of $3,173,515, was outstanding to SeaTrepid payable in cash which was due on September 30, 2025. During the quarter ended March 31, 2026, the Company made partial payments to the sellers and continues to accrue interest on the past due balance based on the initial Asset Purchase Agreement.