Ideal Power Inc. Annual report pursuant to Section 13 and 15(d)

Accrued Expenses

12 Months Ended

Dec. 31, 2020

Note 7 — Accrued Expenses

Accrued expenses consisted of the following:


	December 31,
	2020		2019
Accrued professional fees	$	32,500	$	44,500
Accrued compensation		191,556		42,659
Accrued licensing fees		60,000		60,000
Accrued Board fees		45,000		30,000
Accrued taxes		—		54,160
Accrued semiconductor fabrication costs		92,600		55,000
Accrued certification costs		—		30,978
Other		53,831		1,838
	$	475,487	$	319,135