|3 Months Ended|
Mar. 31, 2021
|NOTE 18 - CONCENTRATIONS||
Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash, cash equivalents and trade receivables. The Company places its cash and temporary cash investments with high credit quality institutions. At times, such investments may be in excess of the FDIC insurance limit.
The Company’s revenues earned from sale of products and services for the three months ended March 31, 2021 included 85% from one customer of the Company’s total revenues.
The Company’s revenues earned from sale of products and services for the three months ended March 31, 2020 included 24% and 54% (aggregate of 78%) from two customers of the Company’s total revenues.
At March 31, 2021, there was no balance of the Company’s total accounts receivable, and one customer accounted for 100% of the Company’s total accounts receivable with an amount of $500 at December 31, 2020.
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef