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Concentration of Credit Risk

6 Months Ended

Jun. 30, 2023

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

Note 7 - Concentration of Credit Risk

Concentration of credit risk with respect to trade accounts receivable is generally limited due to the large number of entities comprising the Company’s customer base. The Company performs ongoing credit evaluations and provides an allowance for potential credit losses against the portion of accounts receivable which is estimated to be uncollectible. Such losses have historically been within management’s expectations. During the three and six months ended June 30, 2023 and 2022, there were two customers whose purchases represented more than 10% of the Company’s consolidated net sales. Sales to these customers for the three and six months ended June 30, 2023 and 2022 are as follows:

Schedule of Concentration Risk

		Three Months Ended								Three Months Ended
		June 30, 2023								June 30, 2022
Customer		Net Sales				% of Net Sales				Net Sales				% of Net Sales
Customer A		$	2,347,000				56	%		$	1,829,000				41	%
Customer B		$	668,000				16	%		$	1,323,000				30	%

		Six Months Ended								Six Months Ended
		June 30, 2023								June 30, 2022
Customer		Net Sales				% of Net Sales				Net Sales				% of Net Sales
Customer A		$	4,910,000				54	%		$	4,331,000				42	%
Customer B		$	2,320,000				25	%		$	2,670,000				26	%

As of June 30, 2023, the total amounts owed to the Company by these customers were approximately $2,455,000 or 83% of the Company’s consolidated net accounts receivable. The amounts owed at June 30, 2022 by these customers were approximately $2,008,000 or 73% of the Company’s consolidated net accounts receivable.