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Major Customers and Credit Concentration
12 Months Ended
Dec. 31, 2016
Major Customers and Credit Concentration [Abstract]  
MAJOR CUSTOMERS AND CREDIT CONCENTRATION

NOTE 16 – MAJOR CUSTOMERS AND CREDIT CONCENTRATION

 

Our customers are predominantly food manufacturers. There were three significant customers who accounted for 34%, 12% and 7%, respectively, of total sales for the year ended December 31, 2016. There were three significant customers who accounted for 45%, 10% and 6%, respectively, of total sales for the year ended December 31, 2015. Further, three customers accounted for 42%, 24% and 24% of the total accounts receivable at December 31, 2016. Two customers accounted for 68% and 11% of the total accounts receivable at December 31, 2015.

 

The Company maintains cash deposits with major banks, which from time to time may exceed federally insured limits. At December 31, 2016 and 2015, $0 and $59,851, respectively, were in excess of federally insured limits. The Company periodically assesses the financial condition of the institutions and believes that the risk of loss is minimal.