Accrued Cost of Liquidation
Under the liquidation basis of accounting, the Company has accrued for the estimated costs to be incurred in liquidation, as follows:
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| Accrued Liquidation Costs | Balances as of June 30, 2012 |
| Adjustments to accrual |
| Payments |
| Balances as of December 31, 2012 | |
|
| Lease obligation | $ | 62,943 | $ | - | $ | (62,943) | $ | - |
|
| Professional fees |
| 3,964,723 |
| 908,005 |
| (3,391,258) |
| 1,481,470 |
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| Payroll related costs |
| 3,009,757 |
| 34,222 |
| (3,043,979) |
| - |
|
| Other |
| 500,000 |
| 136,564 |
| (183,847) |
| 452,717 |
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| Total | $ | 7,537,423 | $ | 1,078,791 | $ | (6,682,027) | $ | 1,934,187 |
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| Accrued Liquidation Costs | Balances as of December 31, 2012 |
| Adjustments to accrual |
| Payments |
| Balances as of December 31, 2013 | |
|
| Professional fees | $ | 1,481,470 | $ | 2,181,580 | $ | (1,971,110) | $ | 1,691,940 |
|
| Other |
| 452,717 |
| 326,997 |
| (594,165) |
| 185,549 |
|
| Total | $ | 1,934,187 | $ | 2,508,577 | $ | (2,565,275) | $ | 1,877,489 |