Note 5 - Concentrations

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

NOTE 5 – CONCENTRATIONS

Vendors

The Company’s concentration of inventory purchases is as follows:

	For the three months ended March 31,
	2024			2023
Vendor A		-	%		66	%
Vendor B		-	%		12	%
Vendor C		23	%		-	%
Vendor D		21	%		-	%
Vendor E		16	%		-	%
Vendor F		12	%		-	%

During the three months ended March 31, 2024 and 2023, purchases from six vendors represented 72% and 78%, respectively, of total inventory purchases.

As of March 31, 2024, and December 31, 2023, amounts owed to these vendors totaled $563,000 and $410,000 respectively, which are included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets.

Accounts Receivable

The Company’s concentration of accounts receivable is as follows:

	For the three-months ended March 31,				For the three-months ended December 31,
	2024				2023
Customer A	$	129,000	35	%	$	93,000	27	%
Customer B	$	81,000	22	%	$	47,000	13	%
Customer C	$	54,000	15	%			-
Customer D			-		$	71,000	20	%
Customer E			-		$	39,000	11	%
Customer F			-		$	33,000	10	%

Three customers made up more than 72% of net accounts receivable at March 31, 2024. Six customers made up more than 81% of net accounts receivable at December 31, 2023. No customer exceeded 10% of total net sales for the three month period ended March 31, 2024 and 2023, respectively.