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CASH AND CASH EQUIVALENTS

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS

5 — CASH AND CASH EQUIVALENTS

Cash and cash equivalents consisted of the following:

​

​	​	​	​	​
​		June 30, 2023		December 31, 2022
Cash at banks		3,970,491		10,497,570
– Time deposit		1,352,839		8,398,404
– Demand deposit		2,617,652		2,099,166
Total		3,970,491		10,497,570

​

As of June 30, 2023, the details of the Group’s time deposit, maturity dates and interest rates are as follows:

​

​	​	​	​	​	​	​
Currency		Maturity		Interest rate %		June 30, 2023
USD	​	July 1, 2023		5	​	214
TL	​	July 24, 2023		25	​	38,725
TL	​	July 1, 2023		15	​	425,975
TL	​	July 3, 2023		23	​	89,068
TL	​	July 11, 2023		35.7	​	566,507
TL	​	July 19, 2023		41	​	232,350
Total	​	​	​	​	​	1,352,839

​

As of December 31, 2022, the details of the Group’s time deposit, maturity dates and interest rates are as follows:

​

​	​	​	​	​	​	​
Currency		Maturity		Interest rate %		December 31, 2022
US$	​	January 31, 2023		3		7,409,009
TL	​	January 2, 2023		14		695,250
TL	​	January 10, 2023		15		128,354
TL	​	January 16, 2023		15		106,962
TL	​	January 25, 2023		20		58,829
Total	​	​	​	​		8,398,404

​

Due to the loan agreement with PFG dated January 20, 2021, the Group shall maintain certain amount of cash, in demand or time deposit accounts over which PFG has a priority security interest.

​

7 — CASH AND CASH EQUIVALENTS

Cash and cash equivalents consisted of the following:

​

​	​	​	​	​	​	​
​		December 31,		December 31,		December 31,
​	​	2022	​	2021	​	2020
Cash at banks		10,497,570		13,215,729		3,502,288
– Time deposit		8,398,404		4,082,644		1,402,618
– Demand deposit		2,099,166		9,133,085		2,099,670
Total		10,497,570		13,215,729		3,502,288

​

As of December 31, 2022, 2021 and 2020 the details of the Group’s time deposit, maturity dates and interest rates are as follows:

December 31, 2022

​

​	​	​	​	​	​	​
Currency		Maturity		Interest rate %		December 31, 2022
US$	​	January 31, 2023	​	3	​	7,409,009
TL	​	January 2, 2023		14		695,250
TL	​	January 10, 2023		15		128,354
TL	​	January 16, 2023		15		106,962
TL	​	January 25, 2023		20		58,829
Total	​	​				8,398,404

​

​

7 — CASH AND CASH EQUIVALENTS (Continued)

December 31, 2021

​

​	​	​	​	​	​	​
Currency		Maturity		Interest rate %		December 31, 2021
US$	​	January 2, 2022	​	1	​	2,565,340
US$	​	January 2, 2022		1		879,598
TL	​	January 4, 2022		17		457,648
TL	​	February 2, 2022		20		180,058
Total	​	​				4,082,644

​

December 31, 2020

​

​	​	​	​	​	​	​
Currency		Maturity		Interest rate %		December 31, 2020
US$	​	March 31, 2021	​	0.85	​	2,005,323
TL	​	January 2, 2021		13		94,347
Total	​	​				2,099,670

​

Due to the loan agreement with PFG dated January 20, 2021, the Group shall maintain certain amount of cash, in demand or time deposit accounts over which PFG has a first priority security interest.

​

X

- 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
-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

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