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Note 15 - Significant Customers / Concentration

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

NOTE 15 - SIGNIFICANT CUSTOMERS / CONCENTRATION

The following table presents customers accounting for 10% or more of the Company’s net sales:

		For the Year Ended December 31,
		2022				2021
Customer A			13	%			-	%
Customer B			-	%			12	%
Customer C			-	%			10	%

* Zero or less than 10%

The following table presents customers accounting for 10% or more of the Company’s accounts receivable:

		December 31, 2022				December 31, 2021
Customer B			-	%			16	%
Customer C			20	%			-	%
Customer D			17	%			-	%
Customer E			10	%			-	%
Customer F			-	%			11	%

As of December 31, 2022, approximately 65% of the Company’s assets were located in Denmark, 33% were located in the U.S., and 2% were located in China. As of December 31, 2021, approximately 61% of the Company’s assets were located in Denmark, 26% were located in the U.S., and 13% were located in China.

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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 https://asc.fasb.org/topic&trid=2134479

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- References

No definition available.

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