REVENUE RECOGNITION

9 Months Ended

Sep. 30, 2022

REVENUE RECOGNITION

5. REVENUE RECOGNITION

NOTE 5 – REVENUE RECOGNITION

Products consist of the following:

· Antimony: includes antimony oxide, sodium antimonate, antimony trisulfide and antimony metal

· Zeolite: includes coarse and fine zeolite crushed in various sizes

· Precious metals: includes unrefined and refined gold and silver

Sales of products for the three-months ended September 30, 2022 and 2021 were as follows:

	For the three months ended
	September 30, 2022		September 30, 2021
Antimony	$	1,671,301	$	1,284,969
Zeolite		792,683		693,008
Precious metals		-		73,736
TOTAL REVENUE BY PRODUCT	$	2,463,984	$	2,051,713

Sales of products for the nine months ended September 30, 2022 and 2021 were as follows:

	For the nine months ended
	September 30, 2022		September 30, 2021
Antimony	$	6,972,312	$	3,371,015
Zeolite		2,487,116		1,929,383
Precious metals		165,183		280,164
TOTAL REVENUE BY PRODUCT	$	9,624,611	$	5,580,562

The Company’s trade accounts receivable balance related to contracts with customers was $1,450,314 at September 30, 2022 and $891,314 at December 31, 2021. The Company’s products do not involve any warranty agreements and product returns are not typical.

For the three and nine months ended September 30, 2022, the Company also received royalties related to a trademark and licensing agreement in its antimony business segment and is recognized under “Other Income”. For the three months ended September 30, 2022 and 2021, royalty income of $4,899 and $Nil, respectively was recognized. For the nine months ended September 30, 2022 and 2021, royalty income of $65,674 and $Nil, respectively was recognized