Quarterly report pursuant to Section 13 or 15(d)

CONCENTRATIONS

v3.22.2.2
CONCENTRATIONS
9 Months Ended
Sep. 30, 2022
CONCENTRATIONS  
CONCENTRATIONS

NOTE 7 – 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 Three Months Ended

    

For the Nine Months Ended

 

September 30, 

September 30, 

 

Customer

    

2022

    

2021

    

2022

    

2021

 

Customer A

 

N/A

81.82

%

24.59

%

94.20

%

Customer B

10.67

%  

N/A

29.08

%

N/A

Customer C

N/A

32.82

%

N/A

12.66

%

Customer D

53.58

%  

N/A

15.76

%  

N/A

Customer E

22.32

%

N/A

15.55

%  

N/A

Total

 

86.58

%  

114.64

%

84.98

%  

106.86

%

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:

    

September 30, 

    

December 31, 

 

Customer

2022

2021

 

Customer A

 

N/A

 

22.08

%

Customer B

 

41.35

%  

*

Customer C

 

*

52.18

%

Customer D

 

30.58

%  

N/A

Total

 

71.93

%  

74.26

%

* Less than 10%.

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 Three Months Ended

    

For the Nine Months Ended

 

September 30, 

September 30, 

 

Supplier

    

2022

    

2021

    

2022

    

2021

 

Supplier A

 

N/A

N/A

13.34

%

N/A

Supplier B

 

24.31

%

N/A

26.79

%

N/A

Supplier C

 

N/A

N/A

11.74

%

N/A

Supplier D

 

*

13.85

%  

*

*

Supplier E

N/A

24.18

%  

*

16.60

%

Supplier F

N/A

10.97

%  

*

*

Supplier G

N/A

10.43

%  

N/A

*

Total

 

24.31

%  

59.43

%  

51.87

%  

16.60

%

* Less than 10%.