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Customer and Supplier Concentration
 3 Months Ended
Mar. 31, 2018
Risks and Uncertainties [Abstract]  
Customer and Supplier Concentration

NOTE 15 – CUSTOMER AND SUPPLIER CONCENTRATION

 

Significant customers and suppliers are those that account for greater than 10% of the Company’s revenues and purchases.

 

The Company’s revenues were concentrated among few customers for the three months ended March 31, 2018:

 

Customer  

Total revenues

from the customer

to total revenues

for the three

months ended

March 31, 2018

    

Accounts

receivable

(deferred revenue)

from the customer

as of March 31, 2018

(rounded to 000’s)

  
1     13 %   $ 45,000  
2     12 %   $ (111,000 )
3     11 %   $ 654,000  

 

The loss of the significant customer or the failure to attract new customers could have a material adverse effect on our business, results of operations and financial condition.

 

The Company’s purchases were concentrated among few vendors for the three months ended March 31, 2018:

 

Vendor  

Total purchases

from the vendor

to total purchases for

the three months

ended March 31, 2018

    

Accounts payable

(prepayment) to the

vendor as of

March 31, 2018

(rounded to 000’s)

  
1*     44 %   $ 4,611,000  
               2     29 %   $ (7,000 )

 

* EDI, a related party. See note 13.

 

The Company believes there are numerous other suppliers that could be substituted should the supplier become unavailable or non-competitive.