Quarterly report pursuant to Section 13 or 15(d)

Concentrations and Credit Risk

v3.20.2
Concentrations and Credit Risk
6 Months Ended
Jun. 30, 2020
Risks and Uncertainties [Abstract]  
Concentrations and Credit Risk

NOTE 11. CONCENTRATIONS AND CREDIT RISK

 

Revenues

 

One customer accounted for approximately 68% and 78% of the Company’s revenues for the six months ended June 30, 2020 and 2019, respectively. One customer accounted for approximately 74% and 80% of the Company’s revenues for the for the three months ended June 30, 2020 and 2019, respectively.

 

Accounts Receivable

 

One customer accounted for approximately 64% the Company’s gross accounts receivable as of June 30, 2020. One customer accounted for approximately 69% the Company’s gross accounts receivable as of December 31, 2019.

 

Purchasing

 

One supplier, a related party – see Note 12 – accounted for approximately 95% of the Company’s purchases of raw materials for the three and six months ended June 30, 2020 and 2019.