MAJOR CUSTOMERS AND CREDIT CONCENTRATION

3 Months Ended

Mar. 31, 2014

MAJOR CUSTOMERS AND CREDIT CONCENTRATION [Abstract]

MAJOR CUSTOMERS AND CREDIT CONCENTRATION

NOTE 15 – MAJOR CUSTOMERS AND CREDIT CONCENTRATION

The Company’s customers are food manufacturers.  There were three significant customers that each accounted for greater than 10% of sales for the three months ended March 31, 2014. These three customers accounted for 33%, 23% and 11% of total net sales, respectively.   In addition, the same three customers accounted for more than 10% each of total accounts receivable for the quarter ended March 31, 2014.  These customers accounted for 36%, 26% and 17% of the accounts receivable as of March 31, 2014, respectively.

The Company maintains cash deposits with major banks, which from time to time may exceed federally insured limits.  At March 31, 2014 and December 31, 2013, $137,617 and $193,472, respectively, were in excess of federally insured limits.  The Company periodically assesses the financial condition of the institutions and believes that the risk of any loss is minimal.