Fair Value Measurement

12 Months Ended

Dec. 31, 2022

Fair Value Measurement

Fair Value Measurement

31. Fair value measurement

Recurring fair value measurements

The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as at December 31, 2022 and the associated gains (losses) for the year ended December 31, 2022:

	Carrying amount		Fair value		Level 1		Level 3		Fair value change/ credit loss
Equity securities	$	-	$	-	$	-	$	-	$	556,444
Debt securities		736,659		736,659		-		736,659		391,369
Total investments	$	736,659	$	736,659	$	-	$	736,659	$	947,813
Contingent consideration – trading price consideration	$	1,611,843	$	1,611,843	$	-	$	1,611,843	$	1,037,156
Contingent consideration - other		-		-		-		-		(69,430	)
Total contingent consideration (Note 30)	$	1,611,843	$	1,611,843	$		$	1,611,843	$	967,726

Non-recurring fair value measurements

Certain assets are measured at fair value on a non-recurring basis and therefore are not included in the tables above. These assets were adjusted to fair value as a result of impairment recognized in the year ended December 31, 2022, refer to Note 18.

The following table presents the level within the fair value hierarchy for these fair value measurements as at their respective measurement dates, along with their carrying value at December 31, 2022:

	Carrying amount		Fair value		Level 3
Licenses	$	9,506,477	$	9,699,829	$	9,699,829
Brands	$	23,291,833	$	23,624,000	$	23,624,000
Right of use assets - operating	$	811,667	$	825,424	$	825,424