REVENUE RECOGNITION

12 Months Ended

Dec. 31, 2023

REVENUE RECOGNITION

REVENUE RECOGNITION

NOTE 4 – REVENUE RECOGNITION

Products consist of the following:

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

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

· Precious metals: includes unrefined and refined gold and silver

Sales by product for the years ended December 31, 2023 and 2022 were as follows:

	For the year ended
	December 31,		December 31,
	2023		2022
Antimony product revenue	$	5,904,480	$	7,631,670
Zeolite product revenue		2,462,179		3,151,330
Precious metals product revenue		326,496		261,707
TOTAL REVENUES	$	8,693,155	$	11,044,707

The Company also received royalties related to a trademark and licensing agreement in its antimony business segment, which is recorded in “Trademark and licensing income” under the caption “Other Income (Expense)” in its Consolidated Statements Operations.

The following is sales information by geographic area based on the location of customers for the years ended December 31, 2023 and 2022:

	For the year ended
	December 31,		December 31,
	2023		2022
United States revenue	$	6,854,740	$	9,272,698
Canada revenue		1,838,415		1,772,009
TOTAL REVENUES	$	8,693,155	$	11,044,707

Sales to customers representing more than 10% of our total revenues during the years ended December 31, 2023 and 2022 were as follows:

	For the year ended
	December 31,			December 31,
	2023			2022
Customer A revenue	$	1,548,283		$	1,882,667
Customer B revenue		1,451,950			1,863,958
Customer C revenue		1,037,307			-
Total significant customer revenue	$	4,037,540		$	3,746,625
Customer revenue as a % of total revenues		46	%		34	%

All precious metals sales of $326,496 and $261,707 for the years ended December 31, 2023 and 2022, respectively were to one customer, Teck American, Inc.

Customer receivables representing more than 10% of our net accounts receivable balance as of December 31, 2023 and 2022 were as follows:

	December 31,			December 31,
	2023			2022
Customer B receivables	$	202,382		$	-
Customer A receivables		194,007			-
Customer E receivables		-			188,187
Total significant customer receivables	$	396,389		$	188,187
Customer receivables as a % of net accounts receivable		63	%		24	%

The Company’s net accounts receivable balance related to contracts with customers was $625,256 at December 31, 2023 and $784,457 at December 31, 2022. The Company’s allowance for doubtful accounts related to accounts receivable was $271,212 at December 31, 2023 and $31,440 at December 31, 2022, the increase of which was primarily included in our U.S. Antimony Segment. The Company’s products do not involve any warranty agreements and product returns are not typical.