NOTE N – BUSINESS CONCENTRATION

For the year ended December 31, 2019, there were two customers that each represented 13% of total net revenues. For the year ended December 31, 2018, no single customer represented 10% or more of the Company’s total net revenues.

As of December 31, 2019, two customers represented 26% and 10% 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 $3,356,000, or 84%, of total purchases for the year ended December 31, 2019 and approximately $3,622,000, or 81%, of total purchases for the year ended December 31, 2018. The amount due to this supplier, net of deposits paid, was approximately $579,000 as of December 31, 2019. Deposits paid to this vendor were in excess of total accounts payable due to this supplier in the amount of $320,352 as of December 31, 2018.