L. BUSINESS CONCENTRATION
|6 Months Ended|
Jun. 30, 2019
|Risks and Uncertainties [Abstract]|
NOTE L – BUSINESS CONCENTRATION
For the six months ended June 30, 2019, three customers represented 15%, 12% and 11% of total net revenues. For the six months ended June 30, 2018, one customer represented approximately 11% of total net revenues. As of June 30, 2019, three customers represented 17%, 15% and 13% of the Company’s net accounts receivable. As of December 31, 2018, two customers represented 29% and 11% of the Company’s net accounts receivable.
Purchases from one supplier approximated $1,855,000, or 83%, of purchases for the six months ended June 30, 2019 and $1,975,000, or 88%, of purchases for the six months ended June 30, 2018. Totals due to this supplier, net of deposits, were approximately $440,000 as of June 30, 2019. Deposits paid exceeded totals due to this supplier by $320,352 as of December 31, 2018.
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