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v3.24.1

Cash and cash equivalents | 12 Months Ended
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Dec. 31, 2023
Cash and cash equivalents |
Cash and cash equivalents | 3. Cash and cash equivalents Cash and cash equivalents are not restricted by the terms of the Company’s bank accounts as to withdrawal or use. As of December 31, 2023 and 2022, the equivalent United States dollars of the Company’s cash and cash equivalents, including those accounts denominated in currencies other than the U.S. dollar, are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2023 |  | 2022
Bank accounts: |  | ​ |  |  | ​ |
United States dollar | ​ | $ | 15,857,612 | ​ | $ | 24,573,161
Cayman Islands dollar | ​ |  | 11,826,102 | ​ |  | 14,956,162
Bahamian dollar | ​ |  | 3,025,898 | ​ |  | 5,698,100
​ | ​ |  | 30,709,612 | ​ |  | 45,227,423
​ | ​ | ​ | ​ | ​ | ​ | ​
Short-term deposits: | ​ |  |  | ​ |  |
United States dollar | ​ |  | 8,861,606 | ​ |  | 2,476,370
Cayman Islands dollar | ​ |  | 3,050,680 | ​ |  | 3,007,958
​ | ​ |  | 11,912,286 | ​ |  | 5,484,328
Total cash and cash equivalents | ​ | $ | 42,621,898 | ​ | $ | 50,711,751
​ Transfers from the Company’s Bahamas bank accounts to Company bank accounts in other countries require the approval of the Central Bank of The Bahamas.

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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 -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 + Details
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