XML 27 R18.htm IDEA: XBRL DOCUMENT v3.19.2
Concentrations of Risk
 6 Months Ended
Jun. 30, 2019
Risks and Uncertainties [Abstract]  
Concentrations of Risk

NOTE 12 - CONCENTRATIONS OF RISK

 

(a) Major customers

 

For the six months ended June 30, 2019, the customers who accounted for more than 10% of the Company’s revenues and the accounts receivable balances at period-end are presented as follows:

 

   For the six months ended
June 30, 2019		   As of
June 30, 2019		 
   Revenues   Percentage of
revenues		   Accounts
receivable		 
Customer D  $23,417    80%  $              - 
Total:  $23,417    80%  $- 

 

For the six months ended June 30, 2018, the customers who accounted for more than 10% of the Company’s revenues and the accounts receivable balances at period-end are presented as follows:

 

   For the six months ended
June 30, 2018		   As of
June 30, 2018		 
   Revenues   Percentage of
revenues		   Accounts
receivable		 
Customer E  $9,997    65%  $           628 
Total:  $9,997    65%  $628 

 

(b) Major vendors

 

For the six months ended June 30, 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
June 30, 2019		   As of
June 30, 2019		 
   Purchases   Percentage of
purchases		   Accounts
payable		 
Vendor A  $26,510    32%   1,325 
Vendor B   12,225    14%       2,288 
Vendor C   24,690    29%   - 
Total:  $63,425    75%   3,613 

 

For the six months ended June 30, 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
June 30, 2018		   As of
June 30, 2018		 
   Purchases   Percentage of
purchases		   Accounts
payable		 
Vendor C  $39,493    65%                 - 
Vendor D  $7,582    13%   - 
Total:  $47,075    78%   - 

 

(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.