v3.26.1
Cash and Cash Equivalents
 3 Months Ended
Mar. 31, 2026
Cash and Cash Equivalents [Abstract]  
CASH AND CASH EQUIVALENTS
5 CASH AND CASH EQUIVALENTS

 

Cash and cash equivalents consisted of the following:

 

   March 31,
2026		   December 31,
2025		 
Cash at banks   4,765,031           7,805,859 
- Time deposit   2,403,434    832,923 
- Demand deposit   2,361,597    6,972,936 
Total   4,765,031    7,805,859 

 

As of March 31, 2026, the details of the Group’s time deposit, maturity dates and interest rates are as follows:

 

Currency  Maturity  Interest
rate %		   March 31,
2026		 
US$  April 30, 2026   2.95    1,290,837 
TL  April 1, 2026   38    1,112,597 
Total           2,403,434 

 

As of December 31, 2025, the details of the Group’s time deposit, maturity dates and interest rates are as follows:

 

Currency  Maturity  Interest
rate %		   December 31,
2025		 
TL  January 2, 2026   38.5              489,941 
TL  January 26, 2026   36.5    201,508 
TL  January 2, 2026   30    29,154 
TL  January 2, 2026   38    112,320 
Total           832,923 

 

Under a loan agreement with PFG dated January 20, 2021, the Group was previously required to maintain specified cash balances in demand or time deposit accounts subject to a first-priority security interest in favor of PFG.

 

The PFG loan was fully repaid during 2025. Accordingly, as of March 31, 2026, the Group is no longer subject to any cash balance maintenance requirements, and no security interest exists over the Group’s cash and cash equivalents.