L. BUSINESS CONCENTRATION
|9 Months Ended|
Sep. 30, 2018
|Risks and Uncertainties [Abstract]|
NOTE L – BUSINESS CONCENTRATION
For the nine months ended September 30, 2018 and 2017, no single customer represented 10% or more of total net revenues. As of September 30, 2018, three customers each accounted for over 10% of the Company’s net accounts receivable, for a total of 43% of net accounts receivables. As of December 31, 2017, three customers accounted for approximately 54% of the Company’s net accounts receivable.
Purchases from one supplier approximated $3,261,000, or 90%, of purchases for the nine months ended September 30, 2018 and $2,122,000, or 86%, of purchases for the nine months ended September 30, 2017. Total due to this supplier, net of deposits, was approximately $226,126 as of September 30, 2018, and $33,000 as of December 31, 2017.
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