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Concentrations | 6 Months Ended
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Jun. 30, 2020
Risks and Uncertainties [Abstract] |
Concentrations |
16. | Concentrations
Revenues from the Company’s services to a limited number of customers have accounted for a substantial percentage of the Company’s total revenues. For the three months ended June 30, 2020 the Company’s two largest customers, State of Michigan (“Michigan”), a direct client, and Quicken Loans, a direct client, accounted for 43% and 11% respectively, of the Company’s revenue for that period. For the three months ended June 30, 2019, the Company’s two largest customers, Careworks, a direct client, and Tiburon, a reseller, accounted for 10% and 9%, respectively, of the Company’s revenue for that period. For the six months ended June 30, 2020, the Company’s two largest customers, Michigan and Quicken Loans, accounted for 40% and 8%, respectively, of the Company’s revenues for that period. For the six months ended June 30, 2019, the Company’s two largest customers, Tiburon and Careworks, accounted for approximately 10% and 8%, respectively, of the Company’s revenues for that period. For the three months ended June 30, 2020 and 2019, government contracts represented approximately 57% and 36% of the Company’s total revenues, respectively. A significant portion of the Company’s sales to Tiburon represent ultimate sales to government agencies. For the six months ended June 30, 2020 and 2019 government contracts represented approximately 58% and 33%, respectively, of the Company’s net revenue. As of June 30, 2020, accounts receivable concentrations from the Company’s two largest customers were 45% and 21% of gross accounts receivable, respectively. As of December 31, 2019, accounts receivable concentrations from the Company’s four largest customers were 25%, 25%, 16% and 12% of gross accounts receivable, respectively. Accounts receivable balances from the Company’s two largest customers at June 30, 2020 have since been partially collected.

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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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- References No definition available. + Details
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