Concentration of Credit Risk |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Concentration of Credit Risk [Abstract] | |
| Concentration of Credit Risk | Note 6 – Concentration of Credit Risk
Cash and cash equivalents
The Company maintains its cash and cash equivalents in banks insured by the Federal Deposit Insurance Corporation (FDIC) in accounts that at times may be in excess of the federally insured limit of $250,000 per bank. The Company minimizes this risk by placing its cash deposits with major financial institutions. At March 31, 2025 and December 31, 2024, the uninsured balances amounted to $28,054 and $503,215 respectively.
Accounts receivable
As of March 31, 2025 and December 31, 2024, three and one customers accounted for 77% and 74%, respectively, of the Company’s trade accounts receivable.
Major customers
For the three months ended March 31, 2025, three customers accounted for approximately 71% of the Company’s net revenue. For the three months ended March 31, 2024, two customers accounted for approximately 68% of the Company’s net revenue. Substantially all of the Company’s business is with companies in the United States. Accounts payable
As of March 31, 2025 and December 31, 2024, three and four vendors accounted for 42% and 69%, respectively, of the Company’s accounts payable.
Major suppliers
For the three months ended March 31, 2025, two suppliers accounted for approximately 44% of the Company’s purchases. For the three months ended March 31, 2024, two suppliers accounted for approximately 73% of the Company’s purchases. Substantially all of the Company’s business is with suppliers in the United States. |