Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

FAIR VALUE INFORMATION

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FAIR VALUE INFORMATION
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
FAIR VALUE INFORMATION

NOTE 31 — 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, 2023 and 2022, the Company’s financial assets and liabilities by level within the fair value hierarchy are as follows:

 

    Level 1     Level 2     Level 3     Total  
    As of December 31, 2023  
    Level 1     Level 2     Level 3     Total  
FINANCIAL ASSETS                                
Cash and Restricted Cash   $ 1,325,779     $ —     $ —     $ 1,325,779  
                                 
FINANCIAL LIABILITIES                                
Contingent liabilities     —       —       3,714,000       3,714,000  

 

    Level 1     Level 2     Level 3     Total  
    As of December 31, 2022  
    Level 1     Level 2     Level 3     Total  
FINANCIAL ASSETS                                
Cash and Restricted Cash   $ 16,829,385     $ —     $ —     $ 16,829,385  
                                 
FINANCIAL LIABILITIES                                
Contingent liabilities     —       —       36,488,594       36,488,594