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Revenue Recognition
 9 Months Ended
Sep. 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

4.

Revenue Recognition, Continued:

 

 

 

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Antimony

 

$1,284,969

 

 

$477,273

 

 

$3,371,015

 

 

$2,509,183

 

Zeolite

 

 

693,008

 

 

 

481,126

 

 

 

1,929,383

 

 

 

1,653,201

 

Precious metals

 

 

73,736

 

 

 

48,832

 

 

 

280,164

 

 

 

173,029

 

 

 

$2,051,713

 

 

$1,007,231

 

 

$5,580,562

 

 

$4,335,413

 

 

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

United States

 

$1,805,456

 

 

$891,090

 

 

$4,954,412

 

 

$3,893,374

 

Canada

 

 

246,257

 

 

 

116,141

 

 

 

626,150

 

 

 

442,039

 

 

 

$2,051,713

 

 

$1,007,231

 

 

$5,580,562

 

 

$4,335,413

 

  

 

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

 

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

Sales to

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

Largest Customers

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Company A

 

 

288,640

 

 

 

114,075

 

 

 

778,211

 

 

 

404,447

 

Company B

 

 

581,609

 

 

 

105,865

 

 

 

1,284,206

 

 

 

-

 

Company C

 

 

-

 

 

 

-

 

 

 

518,226

 

 

 

523,660

 

Company D

 

 

225,800

 

 

 

-

 

 

 

225,800

 

 

 

-

 

Company E

 

 

-

 

 

 

131,360

 

 

 

-

 

 

 

345,899

 

 

 

$1,096,049

 

 

$351,300

 

 

$2,806,443

 

 

$1,274,006

 

% of Total Revenues

 

 

53.42%

 

 

34.88%

 

 

50.29%

 

 

29.39%

 

At September 30, 2021, the Company had a sales order backlog of 1,192 tons of zeolite and 44,092 pounds of antimony.

 

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

 

Largest

 

 

 

 

 

 

Accounts Receivable

 

September 30,

2021

 

 

December 31,

2020

 

Company B

 

$222,100

 

 

$-

 

Company F

 

 

110,864

 

 

 

-

 

Company G

 

 

54,400

 

 

 

68,055

 

Company H

 

 

-

 

 

 

21,619

 

Company I

 

 

-

 

 

 

16,600

 

Company J

 

 

-

 

 

 

12,255

 

 

 

$387,364

 

 

$118,529

 

% of Total Receivables

 

 

53.60%

 

 

49.67%

  

 

Our trade accounts receivable balance related to contracts with customers was $722,727 at September 30, 2021 and $238,634 at December 31, 2020. Our products do not involve any warranty agreements and product returns are not typical.