CONCENTRATION OF RISKS

9 Months Ended

Sep. 30, 2021

CONCENTRATION OF RISKS

NOTE 15 - CONCENTRATION OF RISKS

NOTE 15 - CONCENTRATION OF RISKS

a) Major customers

For three months ended September 30, 2021 and 2020, the customers who accounted for 10% or more of the Company’s revenues and its accounts received balance at period-end are presented as follows:  

	2021		2020		2021			2020		2021		2020
	Revenues				Percentage of revenue					Accounts receivable trade
Customer A	$	591,851	$	-		16.55	%		-	$	595,271	$	-
	$	591,851	$	-		16.55	%		-	$	595,271	$	-

For nine months ended September 30, 2021 and 2020, there is no customers accounted for 10% or more of the Company’s revenues nor with significant outstanding receivables    

b) Major suppliers

For three months ended September 30, 2021 and 2020, the vendors who accounted for 10% or more of the Company’s cost of sales and its accounts payable balance at period-end are presented as follows:

	2021		2020		2021			2020			2021		2020
	Purchase				Percentage of purchases						Accounts payable trade
Vendor A	$	418,622	$	430,328		14.50	%		16.75	%	$	272,996	$	366,246
Vendor B	$	363,270	$	82,304		12.58	%		3.20	%	$	436,285	$	84,853
Vendor C	$	354,267	$	230,502		12.27	%		8.97	%	$	349,574	$	228,098
	$	1,136,159	$	743,134		39.35	%		28.92	%	$	1,058,855	$	679,197

For nine months ended September 30, 2021 and 2020, the vendors who accounted for 10% or more of the Company’s cost of sales and its accounts payable balance at period-end are presented as follows:

	2021		2020		2021			2020			2021		2020
	Purchase				Percentage of purchases						Accounts payable trade
Vendor A	$	1,470,903	$	1,213,333		17.55	%		20.47	%	$	177,793	$	611,792
Vendor B	$	1,063,226	$	888,748		12.69	%		14.99	%	$	272,996	$	366,246
Vendor C	$	999,950	$	616,834		11.93	%		10.41	%	$	349,574	$	228,098
Vendor D	$	923,259	$	795,984		11.02	%		13.43	%	$	190,938	$	387,913
	$	4,457,338	$	3,514,899		53.19	%		59.30	%	$	991,301	$	1,594,049