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NOTE 14 – BUSINESS CONCENTRATIONS | 3 Months Ended
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Mar. 31, 2020
Risks and Uncertainties [Abstract] |
NOTE 14 – BUSINESS CONCENTRATIONS | NOTE 14 – BUSINESS CONCENTRATIONS We purchase our prescription products from several suppliers with approximately 32%, 28%, 24% and 13% of our purchases supplied by four vendors each, respectively, during the three months ended March 31, 2020 and 33%, 29%, 27% and 11% of our purchases supplied by four vendors each, respectively, during the three months ended March 31, 2019. We sell our prescription products to wholesale distributors, specialty pharmacies, specialty distributors, and chain drug stores that generally sell products to retail pharmacies, hospitals, and other institutional customers. During the three months ended March 31, 2020, four customers each accounted for more than 10% of our total prescription revenues. Prescription revenue from the four customers combined accounted for approximately 70% of our prescription revenue for the three months ended March 31, 2020. During the three months ended March 31, 2019, five customers each generated more than 10% of our prescription revenues. Revenue generated from the five customers combined accounted for approximately 83% of our prescription revenue for the three months ended March 31, 2019. During the three months ended March 31, 2020, Pillpack, Inc. accounted for approximately $3,199,000 of our prescription revenue, McKesson Corporation accounted for approximately $2,259,000 of our prescription revenue, Cardinal Health accounted for approximately $1,886,000 of our prescription revenue and Pharmacy Innovation PA accounted for approximately $1,234,000 of our prescription revenue. During the three months ended March 31, 2019, PI Services accounted for approximately $967,000 of our prescription revenue, AmerisourceBergen accounted for approximately $787,000 of our prescription revenue, Pillpack, Inc. accounted for approximately $534,000 of our prescription revenue, Cardinal Health accounted for approximately $525,000 of our prescription revenue and McKesson Corporation accounted for approximately $457,000 of our prescription revenue.

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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 http://asc.fasb.org/topic&trid=2134479 + Details
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