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CONCENTRATION OF CREDIT RISK

9 Months Ended

Sep. 30, 2023

Risks and Uncertainties [Abstract]

CONCENTRATION OF CREDIT RISK

NOTE 10 — CONCENTRATION OF CREDIT RISK

Revenues

Three customers accounted for 70% and 55% of revenues for the three and nine months ended September 30, 2023, respectively as set forth below:

Concentration of credit risk
		Three Months Ended September 30, 2023				Nine Months Ended September 30, 2023
Customer A			27	%			24	%
Customer B			23	%			18	%
Customer C			20	%			13	%

One customer, a related party, accounted for 92% and 95% of revenue for the three and nine months ended September 30, 2022, respectively.

Accounts Receivable

One customer, a related party, accounted for 70% of accounts receivable at September 30, 2023, as set forth below:

		September 30, 2023
Customer A - related party			70	%

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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