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TERM FINANCE CERTIFICATES (TFCs) (Tables)
 6 Months Ended
Jun. 30, 2023
TERM FINANCE CERTIFICATES (TFCs)  
Summary of term finance certificate

 

 

June 30,

2023

 

 

December 31,

 2022

 

 

 

(Unaudited)

 

 

 

Opening balance

 

$7,458,750

 

 

$7,847,937

 

Repayments

 

 

-

 

 

 

(389,187 )

 

 

 

7,458,750

 

 

 

7,458,750

 

Current portion

 

 

(2,144,511 )

 

 

(2,463,737 )

 

 

 

5,314,240

 

 

 

4,995,013

 

Add: Deferred markup

 

 

952,619

 

 

 

1,421,704

 

Exchange adjustment

 

 

(3,625,943)

 

 

(2,373,910 )

Closing balance

 

$2,640,916

 

 

$4,042,807