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Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS

8 - CASH AND CASH EQUIVALENTS

Cash and cash equivalents consisted of the following:

		Dec 31, 2023				Dec 31, 2022
Cash at banks			19,424,059				10,497,570
- Time deposit			18,437,333				8,398,404
- Demand deposit			986,726				2,099,166
Total			19,424,059				10,497,570

As of December 31, 2023, and 2022 the details of the Group’s time deposit, maturity dates and interest rates are as follows:

December 31, 2023 Currency		Maturity		Interest rate %				December 31, 2023
US$		December 31, 2023			5				17,231,789
TL		January 29, 2024			46				140,178
TL		January 2, 2024			43				147,306
TL		January 19, 2024			46				327,900
TL		January 5, 2024			43				28,089
TL		January 23, 2024			46				562,071
Total									18,437,333

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

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.

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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
-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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