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Note 17 - Supplier Concentration

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Vendor Concentration Risk Disclosure [Text Block]

17.	Supplier Concentration

Most of the principal raw materials used by the Company consist of common industrial organic and inorganic chemicals that are available in ample supply from numerous sources. However, there are some raw materials used by the Company that are not readily available or require longer lead times.

For the three months ended September 30, 2024, the Company had three major raw material suppliers that collectively accounted for approximately 88% of the raw material purchases made by the Company. For the three months ended September 30, 2023, the Company had four major raw material suppliers that collectively accounted for approximately 89% of the raw material purchases made by the Company.

For the nine months ended September 30, 2024 the Company had three major raw material suppliers that collectively accounted for approximately 82% of the raw material purchases made by the Company. During the first nine months of 2023, the Company had five major raw material suppliers that collectively accounted for approximately 92% of the raw material purchases made by the Company. In addition to the Company’s raw materials concentration, the Company utilizes one contract manufacturer for the production of its pharmaceutical product, Renacidin. Any disruption in this manufacturer’s operations could have a material impact on the Company’s revenue stream.