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CONCENTRATION OF CREDIT RISK

6 Months Ended

Jun. 30, 2023

Risks and Uncertainties [Abstract]

CONCENTRATION OF CREDIT RISK

NOTE 10 — CONCENTRATION OF CREDIT RISK

Revenues

Three customers accounted for 65% and 54% of revenues for the three and six months ended June 30, 2023, respectively as set forth below:

Concentration of credit risk		Three Months Ended June 30, 2023				Six Months Ended June 30, 2023
Customer A - related party			29	%			15	%
Customer B			21	%			23	%
Customer C			15	%			16	%

One customer, a related party, accounted for 88% and 90% of revenue for the three and six months ended June 30, 2022, respectively.

Accounts Receivable

Two customers accounted for 85% of accounts receivable at June 30, 2023, as set forth below:

		June 30, 2023
Customer A - related party			71	%
Customer B			14	%

Four customers accounted for 84% of accounts receivable at December 31, 2022, as set forth below:

		December 31, 2022
Customer A			29	%
Customer B			20	%
Customer C			20	%
Customer D			15	%

X

- 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
-Topic 275
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//275/tableOfContent

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X

- References

No definition available.

+ Details

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