Annual report pursuant to Section 13 and 15(d)

CONCENTRATIONS

v3.22.1
CONCENTRATIONS
12 Months Ended
Dec. 31, 2021
CONCENTRATIONS  
CONCENTRATIONS

NOTE 10 — CONCENTRATIONS

Customer Concentrations

The following table sets forth information as to each customer that accounted for 10% or more of the Company’s net revenues for the following periods:

    

For the Years Ended

 

December 31, 

 

Customer

    

2021

    

2020

 

Customer A

 

85.77

%  

51.40

%

Customer B

 

N/A

26.43

%

Customer C

 

N/A

18.24

%

Customer D

 

11.56

%

N/A

Customer H

N/A

N/A

Customer I

 

N/A

 

*

Total

 

97.33

%  

96.07

%

*

Less than 10%.

From time to time, certain customers generate negative net revenues that resulted from Supplier Costs that exceeded the Gross Billing. As a result, the Company’s concentrations on net revenues may result in total percentages that exceed 100%.

The following table sets forth information as to each customer that accounted for 10% or more of the Company’s gross accounts receivable as of:

December 31, 

 

Customer

    

2021

    

2020

 

Customer A

 

N/A

 

89.02

%

Customer B

 

22.08

%

N/A

Customer E

 

52.18

%  

N/A

Total

 

74.26

%  

89.02

%

A reduction in sales from or loss of these customers would have a material adverse effect on the Company’s results of operations and financial condition.

Supplier Concentrations

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s Supplier Costs for the following periods:

    

For the Years Ended

 

December 31, 

 

Supplier

    

2021

    

2019

 

Supplier B

 

N/A

15.51

%

Supplier C

 

N/A

 

N/A

Supplier D

 

N/A

16.32

%

Supplier E

 

42.36

%

N/A

Total

 

42.36

%  

31.83

%

*

Less than 10%.