FAIR VALUE INFORMATION |
NOTE 27 — FAIR VALUE INFORMATION
Fair value hierarchy
The table below analyses assets and liabilities carried at fair value. The different levels are defined as follows:
Level 1: Quoted unadjusted prices in active markets for identical assets or liabilities that the Company can access at measurement date.
Level 2: Inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly.
Level 3: Unobservable inputs for the asset or liability.
As of December 31, 2021 and 2020, the Company’s financial assets and liabilities by level within the fair value hierarchy are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2021 |
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
FINANCIAL ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets at amortized cost |
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
$ |
1,784,938 |
|
$ |
— |
|
$ |
— |
|
$ |
1,784,938 |
Accounts receivable |
|
|
— |
|
|
1,018,003 |
|
|
— |
|
|
1,018,003 |
Other Receivable |
|
|
|
|
|
|
|
|
66,000 |
|
|
|
Due from related parties |
|
|
— |
|
|
44,245 |
|
|
— |
|
|
44,245 |
Financial assets at fair value through profit or loss |
|
|
|
|
|
|
|
|
|
|
|
|
Investments at fair value |
|
|
— |
|
|
— |
|
|
29,069 |
|
|
29,069 |
FINANCIAL LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
Financial liabilities at amortized cost |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
— |
|
|
1,078,381 |
|
|
— |
|
|
1,078,381 |
Derivative liability |
|
|
— |
|
|
250,000 |
|
|
— |
|
|
250,000 |
Loans payable |
|
|
— |
|
|
151,273 |
|
|
— |
|
|
151,273 |
Loans payable, related parties |
|
|
— |
|
|
425,551 |
|
|
— |
|
|
425,551 |
Lease liabilities |
|
|
— |
|
|
1,330,860 |
|
|
— |
|
|
1,330,860 |
Convertible debt obligations, net |
|
|
— |
|
|
1,274,010 |
|
|
— |
|
|
1,274,010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2020 |
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
FINANCIAL ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets at amortized cost |
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
$ |
2,273,151 |
|
$ |
— |
|
|
— |
|
$ |
2,273,151 |
Accounts receivable |
|
|
— |
|
|
948,341 |
|
|
— |
|
|
948,341 |
Due from related parties |
|
|
— |
|
|
53,851 |
|
|
— |
|
|
53,851 |
Financial assets at fair value through profit or loss |
|
|
|
|
|
|
|
|
|
|
|
|
Investments at fair value |
|
|
— |
|
|
— |
|
|
29,076 |
|
|
29,076 |
FINANCIAL LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
Financial liabilities at amortized cost |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
— |
|
|
821,820 |
|
|
— |
|
|
821,820 |
Derivative liability |
|
|
— |
|
|
250,000 |
|
|
— |
|
|
250,000 |
Loans payable |
|
|
— |
|
|
223,240 |
|
|
— |
|
|
223,240 |
Loans payable, related parties |
|
|
— |
|
|
589,502 |
|
|
— |
|
|
589,502 |
Lease liabilities |
|
|
— |
|
|
1,853,064 |
|
|
— |
|
|
1,853,064 |
Convertible debt obligations, net |
|
|
— |
|
|
1,531,639 |
|
|
— |
|
|
1,531,639 |
|