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Cash and Cash Equivalents | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2022 | Dec. 31, 2021
Cash and Cash Equivalents [Abstract] |  |
Cash and Cash Equivalents | 5. Cash and Cash Equivalents Cash and cash equivalents as of June 30, 2022 and December 31, 2021 consist of the following:
|  | June 30, 2022
|  | Contracted Maturity |  | Amortized Cost |  | Fair Market Value |  | Balance per Balance Sheet
Cash |  | Demand |  | $ | 33,529,574 |  | $ | 33,529,574 |  | $ | 33,529,574
Money market funds |  | Demand |  |  | — |  |  | — |  |  | —
|  |  |  | $ | 33,529,574 |  | $ | 33,529,574 |  | $ | 33,529,574
|  | December 31, 2021
|  | Contracted Maturity |  | Amortized Cost |  | Fair Market Value |  | Balance per Balance Sheet
Cash |  | Demand |  | $ | 2,847,375 |  | $ | 2,847,375 |  | $ | 2,847,375
Money market funds |  | Demand |  |  | 44,000,000 |  |  | 44,000,000 |  |  | 44,000,000
|  |  |  | $ | 46,847,375 |  | $ | 46,847,375 |  | $ | 46,847,375
The Group did not have any short-term or long-term investments at June 30, 2022 or December 31, 2021 except for the investment in a joint venture. As of June 30, 2022, the Group entered into a guarantee/standby letter of credit for $1,000,000 which will be used towards the issuance of credit for running the day-to-day business operations (December 31, 2021 — $nil). | 5. Cash and Cash Equivalents Cash and cash equivalents as of December 31, 2021 and 2020 consist of the following:
|  |  |  | December 31, 2021
|  | Contracted Maturity |  | Amortized Cost |  | Fair Market Value |  | Balance per Balance Sheet
Cash |  | Demand |  | $ | 2,847,375 |  | $ | 2,847,375 |  | $ | 2,847,375
Money market funds |  | Demand |  |  | 44,000,000 |  |  | 44,000,000 |  |  | 44,000,000
|  |  |  | $ | 46,847,375 |  | $ | 46,847,375 |  | $ | 46,847,375
|  |  |  | December 31, 2020
|  | Contracted Maturity |  | Amortized Cost |  | Fair Market Value |  | Balance per Balance Sheet
Cash |  | Demand |  | $ | 517,545 |  | $ | 517,545 |  | $ | 517,545
Money market funds |  | Demand |  |  | 928,502 |  |  | 928,502 |  |  | 928,502
|  |  |  | $ | 1,446,047 |  | $ | 1,446,047 |  | $ | 1,446,047
The Group did not have any short-term or long-term investments at December 31, 2021 or 2020 except for the investment in Liberatio.

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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