v3.24.1
Cash, Cash Equivalents, and Marketable Securities
 12 Months Ended
Dec. 31, 2023
Cash, Cash Equivalents, and Marketable Securities [Abstract]  
Cash, Cash Equivalents, and Marketable Securities
5.Cash, Cash Equivalents, and Marketable Securities

 

Cash and cash equivalents as of December 31, 2023 and 2022 consist of the following:

 

       2023   2022 
   Contracted         
   Maturity   Balance   Balance 
             
Cash   Demand   $11,632,839   $3,519,674 
Treasury bills and money market funds   Demand    206,705,819    333,649,605 
        $218,338,658   $337,169,279 

 

Marketable securities consist of term deposits of $1,135,200 as at December 31, 2023 (2022 – $1,100,000). The Company did not have any long-term investments as at December 31, 2023 or 2022.

 

As of December 31, 2023, the Company entered into a guarantee/ standby letter of credit in the amount of $1,362,500 which will be used towards the issuance of credit for running the day-to-day business operations (2022 – $1,257,500).