v3.25.2
Note 6 - Concentrations
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

NOTE 6 – CONCENTRATIONS

 

Vendors

 

The Company’s concentration of inventory purchases is as follows:

 

   

For the three months

    

For the six months

  
   

ended June 30,

    

ended June 30,

  
   

2025

    

2024

    

2025

    

2024

  

Vendor A

     50 %     -       44 %     15 %

Vendor B

     14 %     -       14 %     -  

Vendor C

     13 %     44 %     13 %     24 %

Vendor D

     -       17 %     -       -  

Vendor E

     -       13 %     -       -  

Vendor F

     -       12 %     -       16 %

Vendor G

     -       -       -       12 %

 

During the three months ended June 30, 2025 and 2024, purchases from six vendors represented 77% and 86%, respectively, of total inventory purchases. During the six months ended June 30, 2025 and 2024, purchases from five vendors represented 71% and 67%, respectively, of total inventory purchases.

 

As of June 30, 2025, and December 31, 2024, amounts owed to these vendors totaled $673,000 and $539,000 respectively, which are included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets.

 

Accounts Receivable

 

The Company’s concentration of accounts receivable is as follows:

 

   

June 30, 2025

    

December 31, 2024

  
   

Amount

    

Percentage

    

Amount

    

Percentage

  

Customer A

     33,000       10 %   $ 125,000       31 %

Customer B

     -       -     $ 52,000       13 %

Customer C

     -       -     $ 85,000       21 %

Customer D

     -       -     $ 66,000       16 %

Customer E

     221,000       67 %     -       -  

Customer F

     36,000       11 %     -       -  

 

Three customers made up more than 88% of net accounts receivable at June 30, 2025. Four customers made up more than 81% of net accounts receivable at December 31, 2024. No customer exceeded 10% of total net sales for the three month period ended June 30, 2025 and 2024, respectively.