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Revenue Recognition
 6 Months Ended
Jun. 30, 2021
Revenue Recognition  
4. Revenue Recognition

4.

Revenue Recognition

 

 

 

Products consist of the following:

 

 

•

Antimony: includes antimony oxide, sodium antimonate, antimony trisulfide, and antimony metal

 

• 

Zeolite: includes coarse and fine zeolite crushed in various sizes

 

•

Precious Metals: includes unrefined and refined gold and silver

  

 

Sales of products for the three and six month periods ended June 30, 2021 and 2020 were as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Antimony

 

$1,428,939

 

 

$910,484

 

 

$2,086,046

 

 

$2,031,909

 

Zeolite

 

 

716,428

 

 

 

612,715

 

 

 

1,236,375

 

 

 

1,172,075

 

Precious metals

 

 

130,195

 

 

 

61,992

 

 

 

206,428

 

 

 

124,198

 

 

 

$2,275,562

 

 

$1,585,191

 

 

$3,528,849

 

 

$3,328,182

 

 

 

The following is sales information by geographic area based on the location of customers for the three and six month periods ended June 30, 2021 and 2020:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

United States

 

$1,983,443

 

 

$1,436,047

 

 

$3,148,956

 

 

$3,002,284

 

Canada

 

 

292,119

 

 

 

149,144

 

 

 

379,893

 

 

 

325,898

 

 

 

$2,275,562

 

 

$1,585,191

 

 

$3,528,849

 

 

$3,328,182

 

  

 

Sales of products to significant customers were as follows for the three and six month periods ended June 30, 2021 and 2020:

 

 

 

         For the  Three Months Ended

 

 

         For the  Six Months Ended

 

Sales to

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

Largest Customers

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Company A

 

 

191,421

 

 

 

176,081

 

 

 

489,571

 

 

 

290,372

 

Company B

 

 

702,597

 

 

 

-

 

 

 

702,597

 

 

 

213,322

 

Company C

 

 

190,557

 

 

 

-

 

 

 

518,226

 

 

 

523,660

 

Company D

 

 

194,247

 

 

 

-

 

 

 

194,247

 

 

 

-

 

 

 

$1,278,822

 

 

$176,081

 

 

$1,904,641

 

 

$1,027,354

 

% of Total Revenues

 

 

56.20%

 

 

11.11%

 

 

53.97%

 

 

30.87%

  

 

At June 30, 2021, the Company had a sales order backlog of 1,922 tons of zeolite and 287,000 pounds of antimony.

4.

Revenue Recognition, Continued:

 

 

 

Accounts receivable from largest customers were as follows at June 30, 2021 and December 31, 2020:

  

 

 

 

 

Largest

Accounts Receivable

 

June 30,

2021

 

 

December 31,

2020

 

Company B

 

$172,841

 

 

$-

 

Company E

 

 

27,716

 

 

 

-

 

Company F

 

 

33,609

 

 

 

68,055

 

 

 

$234,166

 

 

$68,055

 

% of Total Receivables

 

 

38.94%

 

 

28.52%

 

 

Our trade accounts receivable balance related to contracts with customers was $601,315 at June 30, 2021 and $238,634 at December 31, 2020. Our products do not involve any warranty agreements and product returns are not typical.