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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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- References

No definition available.

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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

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