XML 141 R12.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Customer Credit and Vendor Concentrations
12 Months Ended
Dec. 31, 2023
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, 2023 and 2022, represented 10.6% and 11.4%, respectively, of total net revenues.

 

Related Parties represented concentration in outstanding accounts receivable of 8.6% of total outstanding accounts receivable as of December 31, 2023 and 10.1% as of December 31, 2022. Brownie’s Global Logistics, LLC represented concentration in outstanding accounts receivable of less than 10% of total outstanding accounts receivable as of December 31, 2023 and 2022.

 

 

Additionally, the Company has a non-related party customer, Amazon, that represented 4.8% of total outstanding accounts receivable as of December 31, 2023.

 

Revenue from Amazon accounted for 10.5% of revenue for the twelve months ended December 31, 2023, and 12% of total revenue for the year ended December 31, 2022, respectively.

 

The Company has one vendor that for the year ended December 31, 2023, and two vendors for the year ended December 31, 2022, that supplied more than 10% each of the Company’s overall purchases. L&W supplied 14.4% of overall purchases for the year ended December 31, 2023. Tian Li He Technology supplied 11.9% of overall purchases and L&W supplied 11.7% of overall purchases for the year ended December 31, 2022.