XML 28 R12.htm IDEA: XBRL DOCUMENT v3.25.1
Note D - Concentration of Risk
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

NOTE D—CONCENTRATION OF RISK

 

Financial instruments which potentially subject the Company to risk primarily consist of cash, and cash equivalents, investment in debt security, and accounts receivables.

 

The Company maintains its cash and cash equivalents with various financial institutions, which, at times may exceed insured limits. The exposure to the Company is solely dependent upon daily bank balances and the respective strength of the financial institutions. The Company was not in excess of coverage at December 31, 2024 and December 31, 2023. The Company has not incurred any losses on these accounts.

 

The Company extends credit to customers on an unsecured basis in the normal course of business. The Company’s policy is to perform an analysis of the recoverability of its receivables at the end of each reporting period and to establish allowances where appropriate. The Company analyzes historical bad debts and contract losses, customer concentrations, and customer credit-worthiness when evaluating the adequacy of the allowances.

 

For the year ended December 31, 2024 one customer accounted for 24% of total revenue and 4% of accounts receivable. For the year ended December 2023, three customers accounted for 34% of total revenue.

 

At December 31, 2024, two customers accounted for 36% of the total accounts receivable. At December 31, 2023, three customers accounted for 66% of total accounts receivable.