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Customer Credit and Vendor Concentrations
12 Months Ended
Dec. 31, 2021
Risks and Uncertainties [Abstract]  
Customer Credit and Vendor Concentrations

Note 6. Customer Credit and Vendor Concentrations

 

The Company sells to three entities owned by the brother of Robert M. Carmichael and three companies owned by Robert M. Carmichael as further discussed in note 7 - Related Parties Transactions. Combined sales to these six entities for the years ended December 31, 2021 and 2020, represented 17.9% and 18.4%, respectively, of total net revenues.

 

Brownie’s Southport Divers, Inc. represented concentration in outstanding accounts receivable of 25.3% of total outstanding accounts receivable as of December 31, 2021 and 19.8% as of December 31, 2020. Brownie's Global Logistics, LLC represented concentration in outstanding accounts receivable of less than 10% of total outstanding accounts receivable as of December 31, 2021 and 12.8% as of December 31, 2020.

   

Additionally, the Company has a non-related party customer A that represented 10.6% of total outstanding accounts receivable as of December 31, 2021. The Company has a non-related party customers B that represented 10.6% of total outstanding accounts receivable as of December 31, 2020.

 

The company had no customers that consisted of more than 10% of total revenue for the years ended December 31, 2021 and 2020.

 

In excess of 90% of our total net revenues are made up of product sales to customers within the state of Florida.

 

The Company has no vendor concentrations beyond 10% of total purchases as of December 31, 2021 and 2020.