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Legal Reserve
12 Months Ended
Dec. 31, 2021
Disclosure of reserves within equity [text block] [Abstract]  
LEGAL RESERVE
20. LEGAL RESERVE

 

Under the provisions of the Civil and Commercial Code, GF Cash (CIT) is required to set aside as a legal reserve at least 5% of the profits arising from the business of the Company at each dividend distribution until the reserve is at least 10% of the registered share capital. The legal reserve is non-distributable. The Company reserve has met the legal reserve requirement of $223,500 as of December 31, 2021 and 2020.