CONCENTRATIONS OF RISK |
6 Months Ended |
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Jun. 30, 2025 | |
| Risks and Uncertainties [Abstract] | |
| CONCENTRATIONS OF RISK | NOTE 4 – CONCENTRATIONS OF RISK
Accounts Receivable
The Company has a concentration of credit risk with its accounts receivable balance. At December 31, 2024, six certain large customers individually accounted for $156,535, $145,703, $140,978, $130,518, $109,900, $83,387, and $67,214, or 12.48%, 11.62%, 11.24%,10.40%, 8.76%, 6.65%, and 5.36%, respectively.
At June 30, 2025, five large customers individually accounted for $557,350, $221,356, $198,614, $195,793, and $190,585, or approximately 25.17%, 10.00%, 8.97%, 8.84%, and 8.61% respectively.
Customer Concentrations
For the three months ended June 30, 2025, three customers individually accounted for $2,907,835, $1,817,648 and $996,500, or approximately 26.45%, 16.53% and 9.06% of our revenues, respectively. For the three months ended June 30, 2024, three customers individually accounted for $4,281,770, $569,466 and $443,232, or approximately 54%, 7% and 6% of our revenues, respectively.
For the six months ended June 30, 2025, two customers individually accounted for $5,387,248 and $3,111,895, or approximately 29.39% and 16.98% of our revenues, respectively. For the six months ended June 30, 2024, two customers individually accounted for $9,969,834 and $1,047,714, or approximately 61% and 6% of our revenues, respectively.
The loss of, or a significant reduction in business from, any of these customers could have a material adverse effect on the Company’s results of operations and cash flows.
Vendor Concentrations
For the three months ended June 30, 2025 and June 30, 2024, no vendors individually accounted for 5% or more of cost of revenues.
For the six months ended June 30, 2025, one vendor individually accounted for $659,842 or approximately 5.18% of cost of revenues. For the six months ended June 30, 2024, no vendors individually accounted for 5% or more of cost of revenues.
The Company’s sales are concentrated in the Virginia and northeastern North Carolina markets.
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