K. BUSINESS CONCENTRATION
|6 Months Ended|
Jun. 30, 2017
|Risks and Uncertainties [Abstract]|
For the six months ended June 30, 2017 and 2016, no single customer represented 10% or more of total net revenues. As of June 30, 2017, one customer accounted for approximately 11% of the Company’s net accounts receivable. As of December 31, 2016, two customers accounted for approximately 24% of the Company’s net accounts receivable.
Purchases from one supplier approximated $1,439,000, or 84%, of purchases for the six months ended June 30, 2017 and $1,349,000, or 82%, of purchases for the six months ended June 30, 2016. Total due to this supplier, net of deposits, was approximately $88,694 as of June 30, 2017, and $45,037 as of December 31, 2016.
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://www.xbrl.org/2003/role/presentationRef