XML 30 R13.htm IDEA: XBRL DOCUMENT v3.25.1
CONCENTRATIONS OF RISK
12 Months Ended
Dec. 31, 2024
Risks and Uncertainties [Abstract]  
CONCENTRATIONS OF RISK

NOTE 4 – CONCENTRATIONS OF RISK

 

The Company had a concentration of suppliers during fiscal year 2023. During the year ended December 31, 2023, two suppliers accounted for $609,119 and $374,800, or 2.88% and 1.77% of our cost of goods sold.

 

During the year ended December 31, 2024, no supplier accounted for more than 5% of the Company’s cost of revenues.

 

Accounts Receivable

 

The Company has a concentration of credit risk with its accounts receivable balance. At December 31, 2024, six certain large customers individually accounted for $156,535, $145,703, $140,978, $130,518, $109,900, $83,387, and $67,214, or 12.48%, 11.62%, 11.24%,10.40%, 8.76%, 6.65%, and 5.36%, respectively. At December 31, 2023, six certain large customers individually accounted for $154,090, $95,510, $95,219, $62,057, $59,932, and $54,007, or 23.84%, 14.78%, 14.74%, 9.60%, 9.27%, and 8.35%, respectively.

 

Customer Concentrations

 

The Company has a concentration of customers. For the fiscal year ended December 31, 2024, two large customers individually accounted for $18,654,928 and $1,683,325, or approximately 55.99% and 5.05% of our revenues, respectively. For the fiscal year ended December 31, 2023, two large customers individually accounted for $20,716,044 and $2,001,847, or approximately 58.08% and 5.61% of our revenues, respectively.

 

The Company’s sales are concentrated in the Virginia and northeastern North Carolina markets.