| 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:
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As of December 31, 2021 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
FINANCIAL ASSETS |
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Financial assets at amortized cost |
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Cash |
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$ |
1,784,938 |
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$ |
— |
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$ |
— |
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$ |
1,784,938 |
Accounts receivable |
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— |
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1,018,003 |
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— |
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1,018,003 |
Other Receivable |
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66,000 |
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Due from related parties |
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— |
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44,245 |
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— |
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44,245 |
Financial assets at fair value through profit or loss |
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Investments at fair value |
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— |
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— |
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29,069 |
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29,069 |
FINANCIAL LIABILITIES |
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Financial liabilities at amortized cost |
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Accounts payable |
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— |
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1,078,381 |
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— |
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1,078,381 |
Derivative liability |
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— |
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250,000 |
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— |
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250,000 |
Loans payable |
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— |
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151,273 |
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— |
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|
151,273 |
Loans payable, related parties |
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— |
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425,551 |
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— |
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425,551 |
Lease liabilities |
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— |
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1,330,860 |
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— |
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1,330,860 |
Convertible debt obligations, net |
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— |
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1,274,010 |
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— |
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1,274,010 |
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As of December 31, 2020 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
FINANCIAL ASSETS |
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Financial assets at amortized cost |
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Cash |
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$ |
2,273,151 |
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$ |
— |
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— |
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$ |
2,273,151 |
Accounts receivable |
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— |
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|
948,341 |
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— |
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|
948,341 |
Due from related parties |
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— |
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53,851 |
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— |
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|
53,851 |
Financial assets at fair value through profit or loss |
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Investments at fair value |
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— |
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— |
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29,076 |
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29,076 |
FINANCIAL LIABILITIES |
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Financial liabilities at amortized cost |
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Accounts payable |
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— |
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821,820 |
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— |
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821,820 |
Derivative liability |
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— |
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250,000 |
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— |
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|
250,000 |
Loans payable |
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— |
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|
223,240 |
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— |
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|
223,240 |
Loans payable, related parties |
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— |
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589,502 |
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— |
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|
589,502 |
Lease liabilities |
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— |
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1,853,064 |
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— |
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1,853,064 |
Convertible debt obligations, net |
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— |
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1,531,639 |
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— |
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1,531,639 |
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