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Concentration of Credit Risk
12 Months Ended
Dec. 31, 2018
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk

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. NTR transferred all of its Common Stock to Eurdo Holdings, LLC (“Eduro”) on August 29, 2018Other than a certain Related Entity, the Company has no retail or wholesale customers that account for more than 10% of its revenues. During Fiscal 2018, 11% of sales and 2% of purchases were transactions with a certain Related Entity, and in Fiscal 2017 these transactions represented 17% of sales and 11% of purchases. A certain Related Entity accounted for 0% and 5% of the Company’s accounts receivable, as of December 31, 2018 and 2017, respectively. The Larson Group, LLP accounted for 0% and 10.3% of the Company’s accounts receivable, as of December 31, 2018 and 2017 respectively. The Dorado Trade Group accounted for 0% and 15.2% of the Company’s accounts receivable, as of December 31, 2018 and 2017 respectively. A certain Related Entity also accounted for $3,088,973 and $3,902,293 of the Company’s accounts payable, as of December 31, 2018 and 2017.