Annual report pursuant to Section 13 and 15(d)

Concentrations

v3.20.1
Concentrations
12 Months Ended
Dec. 31, 2019
Risks and Uncertainties [Abstract]  
Concentrations

NOTE 11 – Concentrations

 

Revenues – During the years ended December 31, 2019 and 2018, the Company had the following significant customers who accounted for more than 10% each of the Company’s revenue in at least one of the periods presented. The change in the composition of customers between the two years resulted primarily from the change of focus from sales to R&D customers to Proof of Concept sales to customers preparing to initiate commercial production.

 

Customer   2019     2018  
A     27.42 %     -  
B     21.2 %     12.87 %
C     20.34 %     -  
D     11.83 %     23.34 %
E     -       12.62 %
F     -       12.18 %

 

Accounts Receivable – The Company had the following significant customers who accounted for more than 10% each of the Company’s accounts receivable balance at December 31, 2019 and 2018, respectively.

 

Customer   2019     2018  
             
A     76.46 %     -  
B     23.54 %     -  
C     -       64.43 %
D     -       17.01 %
E     -       12.11 %