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CONCENTRATIONS
9 Months Ended
Sep. 30, 2022
Risks and Uncertainties [Abstract]  
CONCENTRATIONS

3. CONCENTRATIONS

 

The Company maintains cash balances at various financial institutions in different countries. These balances are usually secured by the central banks’ insurance companies. At times, these balances may exceed the insurance limits. As of September 30, 2022 and December 31, 2021, uninsured cash and restricted cash balances were $20,252,709 and $57,905,303, respectively.

 

For the three months ended September 30, 2021, two customers accounted for approximately 95%, and 5% of the Company’s property development revenue. For the nine months ended September 30, 2022, three customers accounted for approximately 42%, 10%, and 48% of the Company’s property development revenue. For the nine months ended September 30, 2021, two customers accounted for approximately 96%, and 4% of the Company’s property development revenue.