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CONCENTRATION OF CREDIT RISK

3 Months Ended

Mar. 31, 2024

Risks and Uncertainties [Abstract]

CONCENTRATION OF CREDIT RISK

NOTE 8 — CONCENTRATION OF CREDIT RISK

Revenues

One customer accounted for 71% of revenues for the three months ended March 31, 2024.

Six customers accounted for 94% of revenues for the three months ended March 31, 2023, as set forth below:

Concentration of credit risk
Customer A			25	%
Customer B			17	%
Customer C			16	%
Customer D			14	%
Customer E			12	%
Customer F			10	%

Accounts Receivable

Two customers accounted for 88% of the accounts receivable as of March 31, 2024, as set forth below:

Customer A			54	%
Customer B			34	%

Five customers accounted for 97% of accounts receivable at December 31, 2023.

Customer A – related party			39	%
Customer B			21	%
Customer C			15	%
Customer D			12	%
Customer E			10	%

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

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- References

No definition available.

+ Details

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