Concentration of Credit Risk |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| 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, 2026 and December 31, 2025, the uninsured balances amounted to $126,445 and $2,450,399 respectively.
Accounts receivable
As of March 31, 2026 and December 31, 2025, three customers and one customer accounted for 58% and 71%, respectively, of the Company’s trade accounts receivable.
Major customers
For the three months ended March 31, 2026, three customers accounted for approximately 85% of the Company’s net revenue. For the three months ended March 31, 2025, three customers accounted for approximately 71% of the Company’s net revenue. Substantially all of the Company’s business is with companies in North America.
Accounts payable
As of March 31, 2026 and December 31, 2025, two vendors accounted for 57% and 64%, respectively, of the Company’s accounts payable.
Major suppliers
For the three months ended March 31, 2026, one supplier accounted for approximately 38% of the Company’s purchases. For the three months ended March 31, 2025, two suppliers accounted for approximately 44% of the Company’s purchases. |