Cash and cash equivalents

12 Months Ended

Dec. 31, 2021

Cash and cash equivalents

Cash and cash equivalents

3. Cash and cash equivalents

Cash and cash equivalents are not restricted by the terms of the Company’s bank accounts as to withdrawal or use. As of December 31, 2021 and 2020, the equivalent United States dollars of the Company’s cash and cash equivalents, including those accounts denominated in currencies other than the U.S. dollar, are as follows:

	December 31,
	2021		2020
Bank accounts:
United States dollar	$	15,888,445	$	14,001,264
Cayman Islands dollar		12,784,358		5,650,874
Bahamian dollar		3,944,208		14,863,287
Bermudian dollar		2,832		2,832
		32,619,843		34,518,257
Short term deposits:
United States dollar		5,324,258		5,796,582
Cayman Islands dollar		2,413,958		2,413,547
Bahamian dollar		—		1,065,764
		7,738,216		9,275,893
Total cash and cash equivalents	$	40,358,059	$	43,794,150

Transfers from the Company’s Bahamas bank accounts to Company bank accounts in other countries require the approval of the Central Bank of the Bahamas.