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FAIR VALUE INFORMATION
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
FAIR VALUE INFORMATION

NOTE 31 — FAIR VALUE INFORMATION

 

Fair value hierarchy

 

The table below analyses assets and liabilities carried at fair value. The different levels are defined as follows:

 

Level 1: Quoted unadjusted prices in active markets for identical assets or liabilities that the Company can access at measurement date.

 

Level 2: Inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly.

 

Level 3: Unobservable inputs for the asset or liability.

 

 

As of December 31, 2023 and 2022, the Company’s financial assets and liabilities by level within the fair value hierarchy are as follows:

 

   Level 1   Level 2   Level 3   Total 
   As of December 31, 2023 
   Level 1   Level 2   Level 3   Total 
FINANCIAL ASSETS                    
Cash and Restricted Cash  $1,325,779   $—   $—   $1,325,779 
                     
FINANCIAL LIABILITIES                    
Contingent liabilities   —    —    3,714,000    3,714,000 

 

   Level 1   Level 2   Level 3   Total 
   As of December 31, 2022 
   Level 1   Level 2   Level 3   Total 
FINANCIAL ASSETS                    
Cash and Restricted Cash  $16,829,385   $—   $—   $16,829,385 
                     
FINANCIAL LIABILITIES                    
Contingent liabilities   —    —    36,488,594    36,488,594