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Concentrations
 9 Months Ended
Sep. 30, 2024
Concentrations [Abstract]  
Concentrations
17.Concentrations

 

Customers

 

For the nine months ended September 30, 2024, no single customer represented 10% or more of the Company's revenue. During the nine-month period ended September 30, 2023, the Company recorded 14% of its revenue from its largest customers. The Company’s largest customer, representing $139,149 of revenue, relates to sales to a wholesaler during the period.

 

Suppliers

 

During the nine months ended September 30, 2024, and 2023, the Company had 3 key suppliers that represented approximately 78% and 3 key suppliers that represented approximately 66%, respectively, of the cost incurred in the purchase and production of inventory. The table below represents a breakdown of each supplier as a percentage of the cost incurred. (Suppliers are shown from largest to smallest and do not necessarily represent the same suppliers period over period):

 

   Nine Months
Ended
September 30,
2024		   Nine Months
Ended
September 30,
2023		 
Supplier 1       37%       26%
Supplier 2   29%   23%
Supplier 3   12%   17%
    78%   66%

 

The Company continually evaluates the performance of its suppliers and the availability of alternatives to substitute or supplement its inventory production supply chain. The Company believes that a breakdown in supply from one of its key suppliers would be overcome in a short amount of time given the availability of alternatives.