CONCENTRATIONS |
12 Months Ended |
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Dec. 31, 2020 | |
CONCENTRATIONS | |
Note 18 - 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, 2020 included 29% and 58% (aggregate of 87%) from two customers of the Company’s total revenues.
The Company’s revenues earned from sale of products and services for the year ended December 31, 2019 included 33%, 21%, 17%, and 15% (aggregate of 86%) from four customers of the Company’s total revenues.
At December 31, 2020, one customer accounted for 100% of the Company’s total accounts receivable with an amount of $500, and one customer accounted for 100% of the Company’s total accounts receivable with an amount of $750 at December 31, 2019. |
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- References No definition available.
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- Definition 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
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