Concentrations

9 Months Ended

Sep. 30, 2016

Risks and Uncertainties [Abstract]

Concentrations

NOTE 7 – Concentrations

The Company maintains its cash in bank and financial institution deposits that at times may exceed federally insured limits. The Company has not experienced any losses in such accounts through September 30, 2016. As of September 30, 2016, there were no cash balances held in depository accounts that are not insured.

At September 30, 2016, three customers accounted for 23.3%, 21.0%, and 13.0% of accounts receivable.

For the nine months ended September 30, 2016, four customers accounted for 19.0%, 16.8%, 15.7% and 13.2% of sales.

Approximately 18.3% of revenue was generated from customers outside the United States during the nine months ended September 30, 2016.

During the nine months ended September 30, 2016, sales primarily resulted from three products, FireIce®, Soil₂O® and FireIce Shield® which made up 68.9%, 16.8% and 11.2%, respectively, of total sales. Of the FireIce® sales, 89.2% related to the sale of FireIce® products and 10.8% related to sales of the FireIce extinguishers and educator equipment.  Of the Soil₂O® sales, 37.8% related to traditional sales of Soil₂O® and 62.2% related to sales of Soil₂O® Dust Control.  Of the FireIce Shield® sales, 47.9% consisted sales of asset protection canisters and refills and 52.1% consisted of sale of spray bottles for use by welders and plumbers.  

Two vendors accounted for 40.8% and 17.7% of the Company’s approximately $505,000 in purchases of raw material, finished goods and packaging during the nine months ended September 30, 2016.

During the nine months ended September 30, 2016, our president and principal shareholder provided 100% of the Company’s debt financing.