Quarterly report pursuant to Section 13 or 15(d)

Concentrations and Credit Risk

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

NOTE 12. CONCENTRATIONS AND CREDIT RISK

 

Revenues

 

One customer accounted for approximately 83% and 75% of the Company’s revenues for the nine months ended September 30, 2020 and 2019, respectively. One customer accounted for approximately 84% and 69% of the Company’s revenues for the for the three months ended September 30, 2020 and 2019, respectively.

 

Accounts Receivable

 

One customer accounted for approximately 80% the Company’s gross accounts receivable as of September 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 13 – accounted for approximately 73% and 68% of the Company’s purchases of raw materials for the three and nine months ended September 30, 2020 and 17% and 66% for the three and nine months ended September 30, 2019, respectively.