Concentrations

9 Months Ended

Sep. 30, 2022

Risks and Uncertainties [Abstract]

Concentrations

NOTE 13: CONCENTRATIONS

Concentration of Credit Risk. The Company’s customer base is concentrated with a relatively small number of customers. The Company does not generally require collateral or other security to support accounts receivable. To reduce credit risk, the Company performs ongoing credit evaluations on its customers’ financial condition. The Company establishes allowances for doubtful accounts based upon factors surrounding the credit risk of customers, historical trends and other information.

For the nine months ended September 30, 2022 and 2021, the Company had three customers representing 57% and 53% of revenue earned, respectively. Any customer that represents 10% or greater of total revenue represents a risk. The Company also has four and three customers that represent 72% and 69% of the total accounts receivable as of September 30, 2022 (unaudited) and December 31, 2021, respectively.