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5. Cash, Cash Equivalents, and Restricted Cash
Cash, cash equivalents, and restricted cash are highly liquid instruments with an original maturity of three months or less when purchased. For the purposes of the statements of cash flows, the Company includes cash on hand, cash in clearing accounts, cash on deposit with financial institutions, investments with an original maturity of three months or less, and restricted cash in determining the total balance.
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheets as of:
| | | June 30, | | | December 31, | |
| | | 2026 | | | 2025 | |
| Cash and cash equivalents | | $ | 22,969,047 | | | $ | 5,106,093 | |
| Restricted cash | | | 232,167 | | | | 214,507 | |
| Total cash, cash equivalents, and restricted cash | | $ | 23,201,214 | | | $ | 5,320,600 | |
Amounts in restricted cash represent those that are required to be set aside by contractual agreements which either require the Company to utilize the funds only for specific, contractually identified purposes, or are restricted to collateralize borrowings against company credit cards.
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