Cash and cash equivalents

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, 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,
	2023		2022
Bank accounts:
United States dollar	$	15,857,612	$	24,573,161
Cayman Islands dollar		11,826,102		14,956,162
Bahamian dollar		3,025,898		5,698,100
		30,709,612		45,227,423
Short-term deposits:
United States dollar		8,861,606		2,476,370
Cayman Islands dollar		3,050,680		3,007,958
		11,912,286		5,484,328
Total cash and cash equivalents	$	42,621,898	$	50,711,751

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.