Concentrations of Risk

9 Months Ended

Sep. 30, 2019

Risks and Uncertainties [Abstract]

Concentrations of Risk

NOTE 12 - CONCENTRATIONS OF RISK

(a) Major customers

For the nine months ended September 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 nine months ended September 30, 2019					As of September 30, 2019
	Revenues		Percentage of revenues			Accounts receivable
Customer A	$	22,347		68	%	$	-
Customer B		4,968		15	%		-
Total:	$	27,315		83	%	$	-

For the nine months ended September 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 nine months ended September 30, 2018					As of September 30, 2018
	Revenues		Percentage of revenues			Accounts receivable
Customer C	$	9,873		45	%		-
Customer D		2,779		13	%	$	-
Customer E		4,095		19	%		-
Total:	$	13,146		77	%	$	-

(b) Major vendors

For the six months ended September 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 September 30, 2019					As of September 30, 2019
	Purchases		Percentage of purchases			Accounts payable
Vendor A	$	30,510		26	%		-
Vendor B		37,948		35	%		12,608
Vendor C		14,942		13	%		-
Total:	$	83,400		74	%		12,608

For the six months ended September 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 September 30, 2018					As of September 30, 2018
	Purchases		Percentage of purchases			Accounts payable
Vendor C	$	25,116		24	%		13,023
Vendor D	$	56,214		55	%		6,102
Total:	$	81,330		79	%		20,292

(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.