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Customer Credit and Vendor Concentrations
12 Months Ended
Dec. 31, 2024
Risks and Uncertainties [Abstract]  
Customer Credit and Vendor Concentrations

Note 6. Customer Credit and Vendor Concentrations

 

The Company sells products to three entities owned by the brother of Robert M. Carmichael and three companies owned by Robert Carmichael as further discussed in Note 7 - Related Parties Transactions. Combined sales to these six entities for the years ended December 31, 2024 and 2023, represented 6.9% and 10.6%, respectively, of total net revenues.

 

Related Parties represented concentration in outstanding accounts receivable of 16.0% of total outstanding accounts receivable as of December 31, 2024 and 8.6% as of December 31, 2023. Brownie’s Global Logistics, LLC represented concentration in outstanding accounts receivable of less than 10% of total outstanding accounts receivable as of December 31, 2024 and 2023.

 

 

Additionally, Amazon a non-related party customer, represented 1.0% of total outstanding accounts receivable as of December 31, 2024.

 

Revenue from Amazon accounted for 7.02.% of revenue for the twelve months ended December 31, 2024, and 10.5% of total revenue for the year ended December 31, 2023.

 

The Company has one vendor for the year ended December 31, 2024, and two vendors for the year ended December 31, 2023, that supplied more than 10% each of the Company’s overall purchases. L&W supplied 14.84% and CM Batteries supplied 10.1% of overall purchases for the year ended December 31, 2024. Tian Li He Technology supplied 11.9% % and L&W supplied 14.4% of overall purchases for the year ended December 31, 2023.