| 2.2.1 | Functional and presentation currency |
A Company’s functional currency is the currency of the primary economic environment in which it operates and should be the currency that best reflects company’s business and operations. Based on this analysis, management has concluded that the US Dollar (“US$” or “Dollar”) is its functional currency, based on analysis of the following indicators:
| • | Currency that most influences the prices of goods and services; this is the currency in which the sales price of its goods and services are expressed and settled; |
| • | Currency of the country whose competitive forces and regulations most influence the Company’s business; |
| • | Currency that most influences the costs of providing goods or services, i.e., the currency in which the Company’s costs are normally expressed and settled; and |
| • | Currency in which the Company largely obtains funds for financial operations and in which it normally receives for its sales and accumulates cash. |