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Note 11 - Concentrations
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

Note 11 – Concentrations:

 

Concentration of Credit Risk—The Company maintains its cash balances in financial institutions that are insured by the Federal Deposit Insurance Corporation up to $250,000 each. At times, such balances may be in excess of the FDIC insurance limit.

 

Major Customers—In 2021, 2020, and 2019, net sales to one of our distributors which sells directly to three of our customers, accounted for 16%, 18%, and 17% of our net sales, respectively. In 2021 and 2020, no customers accounted for 10% of our net sales, while in 2019 one customer accounted for more than 10% of our net sales. As of December 31, 2021, two distributors and two customers accounted for 20%, 10%, 14% and 13% respectively, of our accounts receivable. As of December 31, 2020, one distributer and two customers accounted for 8%, 23% and 20%, respectively, of our account receivable.

 

Major Suppliers—The Company purchased approximately 21% of its raw materials from one vendor during 2021, approximately 23% of its raw materials from one vendor during 2020, and approximately 27% of its raw materials from one vendor during 2019.

 

The Company purchased approximately 84% of its packaging material from five vendors during 2021, 88% of its packaging material from five vendors during 2020, and approximately 80% of its packaging material from three vendors during 2019.