|9 Months Ended|
Sep. 30, 2021
|Risks and Uncertainties [Abstract]|
NOTE J – BUSINESS CONCENTRATION
For the nine months ended September 30, 2021, one customer represented approximately 21% of total net revenues. For the nine months ended September 30, 2020, two customers represented approximately 33% of total net revenues.
As of September 30, 2021, one customer accounted for approximately 37% of the Company’s net accounts receivable. As of December 31, 2020, one customer represented 21% of the Company’s net accounts receivable.
Purchases from one supplier approximated $1,228,000, or 86%, of total purchases for the nine months ended September 30, 2021 and approximately $1,973,000, or 90%, of total purchases for the nine months ended September 30, 2020. Deposits paid to this vendor were in excess of total accounts payable due to this supplier in the amount of $91,000 as of September 30, 2021. The amount due to this supplier, net of deposits paid, was approximately $470,000 as of December 31, 2020.
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