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Concentration of Credit Risk | 12 Months Ended
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Dec. 31, 2019
Risks and Uncertainties [Abstract] |
Concentration of Credit Risk | NOTE 2 — CONCENTRATION OF CREDIT RISK The Company maintains cash balances in financial institutions in excess of federally insured limits. Through a series of transactions beginning in 2010, Elemetal,, NTR Metals, LLC (“NTR”) and Truscott Capital, LLC (“Truscott” and together with Elemetal and NTR, the “Related Entities”), became the largest shareholders of our Common Stock. NTR transferred all of its Common Stock to Eurdo Holdings, LLC (“Eduro”) on August 29, 2018. Other than a certain Related Entity, the Company has no retail or wholesale customers that account for more than 10% of its revenues. For the period January 1 2019 through May 20, 2019, 4% of sales and 6% of purchases were transactions with a certain Related Entity. On May 20, 2019 that entity ceased to be a Related Entity. During Fiscal 2018 these transactions represented 11% of sales and 2% of purchases. A certain Related Entity also accounted for $0 and $3,088,973 of the Company’s accounts payable, as of December 31, 2019 and 2018, respectively. A significant amount of the Echo Entities’ refining revenue comes from one customer, Hanwa. Hanwa’s refining facility is based in Japan and any adverse break in the relationship could reduce the flow of refining materials and revenue. While it remains a developing situation, the coronavirus pandemic and any continuing quarantines, interruptions in travel and business disruptions with respect to us or Hanwa could cause such an adverse break in the relationship and reduce refining revenue to us, possibly to a significant degree. Although we are continuing to monitor and assess the effects of the coronavirus pandemic, the ultimate impact is highly uncertain and subject to change. The duration of any such impact cannot be predicted.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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