Cash and cash equivalents

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023, 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,
	2024		2023
Bank accounts:
United States dollar	$	39,094,067	$	15,857,612
Cayman Islands dollar		17,499,492		11,826,102
Bahamian dollar		7,717,705		3,025,898
		64,311,264		30,709,612
Short-term deposits:
United States dollar		31,908,220		8,861,606
Cayman Islands dollar		3,130,637		3,050,680
		35,038,857		11,912,286
Total cash and cash equivalents	$	99,350,121	$	42,621,898

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.