Annual report pursuant to Section 13 and 15(d)

CONCENTRATIONS

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CONCENTRATIONS
12 Months Ended
Dec. 31, 2021
CONCENTRATIONS  
NOTE 17 - CONCENTRATIONS

NOTE 17 - CONCENTRATIONS

 

Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash 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 year ended December 31, 2021 included 72% from one customer of the Company’s total revenues.

 

The Company’s revenues earned from sale of products and services for the year ended December 31, 2020 included 29% and 58% (aggregate of 87%) from two customers of the Company’s total revenues.

 

At December 31, 2021, one customer accounted for 100% of the Company’s total accounts receivable with an amount of $1,500, and one customer accounted for 100% of the Company’s total accounts receivable with an amount of $500 at December 31, 2020.