Note 5 - Concentrations

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

NOTE 5 - CONCENTRATIONS

Vendors

The Company’s concentration of purchases are as follows:

	For the years ended
	December 31,
	2021			2020
Vendor A		31	%		25	%
Vendor B		-			27	%
Vendor C		-			26	%
Vendor D		-			12	%
Vendor E		42	%		-

During the year ended December 31, 2021, purchases from two vendors represented 73% of total inventory purchases. During the year ended December 31, 2020, purchases from four vendors represented 90% of total inventory purchases.

As of December 31, 2021, and 2020, amounts owed to these vendors totaled $1,494,000 and $270,000 respectively, which are included in accounts payable in the accompanying consolidated balance sheets.

Accounts Receivable

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

	For the years ended
	December 31,
	2021			2020
Customer A		-			17	%
Customer B		-			10	%
Customer C		27	%		-

One customer made up 27% of net accounts receivable at December 31, 2021 and two customers accounted for 27% of net accounts receivable at December 31, 2020. Customer C owed the Company a total of $454,000, representing 27% of net receivables at December 31, 2021. Customer A owed the Company a total of $210,000, representing 17% of net receivables at December 31, 2020. Customer B owed the Company a total of $127,000, representing 10% of net receivables at December 31, 2020. No customer exceeded 10% of total net sales for the years ended December 31, 2021 and 2020, respectively.