Concentration of Credit Risk

12 Months Ended

Dec. 31, 2017

Concentration Risk Disclosure [Text Block]

Note 2 – Concentration of Credit Risk

The Company maintains cash balances in financial institutions in excess of federally insured limits. Through a series of transactions beginning in 2010, Elemetal, LLC (“Elemetal”), NTR Metals, LLC (“NTR”) and Truscott Capital, LLC (“Truscott”), collectively (the “Related Entities”), became the largest shareholders of our common stock, par value $0.01 per share. Other than a certain Related Entity, the Company has no retail or wholesale customers that account for more than 10% of its revenues. During Fiscal 2017, 17% of sales and 11% of purchases were transactions with a certain Related Entity, and in Fiscal 2016 these transactions represented 25% of sales and 27% of purchases. A certain Related Entity accounted for 5% and 13% of the Company’s accounts receivable, as of December 31, 2017 and 2016, respectively. The Larson Group, LLP accounted for 10.3% and 0% of the Company’s accounts receivable, as of December 31, 2017 and 2016 respectively. The Dorado Trade Group accounted for 15.2% and 0% of the Company’s accounts receivable, as of December 31, 2017 and 2016 respectively. A certain Related Entity also accounted for 80% and 79% of the Company’s accounts payable, as of December 31, 2017 and 2016.