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Fair Value
3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value

6.       Fair Value

 

Fair Value

 

At March 31, 2021 and December 31, 2020, the fair values of cash, accounts receivable and accounts payable approximated their carrying values because of the short-term nature of these instruments.

 

   March 31, 2021 
   Carrying Amount   Fair Value 
Debt        
Short-term borrowings, PPP loan, long-term debt  $33,104,926   $33,104,926 

 

 

   December 31, 2020 
   Carrying Amount   Fair Value 
Debt        
Short-term borrowings and long-term debt  $33,445,446   $33,445,446 

 

We estimated the fair value of debt using market quotes and calculations based on market rates.