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Concentrations of Risk
 3 Months Ended
Mar. 31, 2019
Risks and Uncertainties [Abstract]  
Concentrations of Risk

NOTE 12 - CONCENTRATIONS OF RISK

 

(a) Major customers

 

For the three months ended March 31, 2019, the customers who accounted for 10% of the Company’s revenues and the accounts receivable balances at period-end are presented as follows:

 

    For the three months ended
March 31, 2019		     As of
March 31, 2019		  
    Revenues     Percentage of
revenues		     Accounts
receivable		  
Customer D   $ 23,555           85 %   $ 23,722  
Total:   $ 23,555       85 %   $ 23,722  

 

For the three months ended March 31, 2018, the customers who accounted for 10% of the Company’s revenues and the accounts receivable balances at period-end are presented as follows:

 

    For the three months ended
March 31, 2018		     As of
March 31, 2018		  
    Revenues     Percentage of
revenues		     Accounts
receivable		  
Customer E   $ 10,013           78 %   $      633  
Total:   $ 10,013       78 %   $ 633  

 

(b) Major vendors

 

For the three months ended March 31, 2019, the vendors who accounted for 10% or more of the Company’s cost of revenues and its accounts payable balance at period-end are presented as follows:

 

    For the three months ended
March 31, 2019		     As of
March 31, 2019		  
    Purchases     Percentage of
purchases		     Accounts
payable		  
Vendor A   $ 13,333       27 %     13,412  
Vendor B     14,966       29 %     10,036  
Vendor C     10,296       20 %     10,358  
Total:   $ 38,595       76 %     33,806  

 

For the three months ended March 31, 2018, the vendors who accounted for 10% or more of the Company’s cost of revenues and its accounts payable balance at period-end are presented as follows:

 

    For the three months ended
March 31, 2018		     As of
March 31, 2018		  
    Purchases     Percentage of
purchases		     Accounts
payable		  
Vendor B   $ 15,822          78 %           -  
Vendor D   $ 2,516       12 %     -  
Total:   $ 18,338       90 %     -  

 

(c) Credit risk

 

Financial instruments that are potentially subject to credit risk consist principally of accounts receivable. The Company believes the concentration of credit risk in its accounts receivables is substantially mitigated by its ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company evaluates the need for an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information.