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Deferred Revenues | 12 Months Ended
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Dec. 31, 2022
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Deferred Revenues | NOTE 18. DEFERRED REVENUES
December |  | 2022 |  |  | 2021
Balance, January 1 |  | $ | 84,614 |  |  | $ | 35,409 |
Acquisition (Note 7) |  |  | 135,409 |  |  |  | - |
Cash received in advance of revenue recognition |  |  | 526,924 |  |  |  | 167,956 |
Revenue subsequently recognized |  |  | (354,531) |  |  |  | (118,438) |
Currency translation effects |  |  | 7,104 |  |  |  | (313) |
Closing balance |  | $ | 399,520 |  |  | $ | 84,614 |
Current deferred revenues |  | $ | 366,085 |  |  | $ | 84,614 |
Non-current deferred revenues |  |  | 33,435 |  |  |  | - |
|  | $ | 399,520 |  |  | $ | 84,614 |
Amounts recognized as current deferred revenues are typically recognized into revenue within six months and amounts recognized as non-current deferred revenues will be recognized into revenue more than twelve months from the date of the balance sheet.

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