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CONCENTRATION OF CREDIT RISK | 12 Months Ended
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Dec. 31, 2023
CONCENTRATION OF CREDIT RISK |
CONCENTRATION OF CREDIT RISK | NOTE 2 — CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. At times, such amounts exceed federally-insured limits. A significant amount of revenue stems from sales to one precious metals partner, which relationship constitutes Envela’s single largest source of revenues of 16.5% and 17.9% during Fiscal years 2023 and 2022, respectively. However, the Company believes that the products we sell are marketable to numerous sources at competitive prices.

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