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Note 19 - Major Customers and Accounts Receivable
 9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

19.

MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE

 

For the three months ended September 30, 2021 and 2020, one customer accounted for 28% and 13% of revenue, respectively. For the nine months ended September 30, 2021 and 2020, one customer accounted for 16% and 21% of revenue, respectively.

 

At September 30, 2021, our Nigerian customer accounted for 41% and a second customer accounted for 26% of current accounts receivable. The Nigerian payment terms of net 90 have been orally modified. Originally, the payments were to be made by the World Bank to the registered companies on the project. Due to the number of registered companies, the World Bank designated local Nigerian banks to process the paperwork for payment. The local banks process the paperwork that ensures certain tasks are completed for payment to the registered companies. The World Bank will release the funds to be distributed as the tasks are completed. At December 31, 2020, one customer accounted for 31% of current accounts receivable.