Quarterly report pursuant to Section 13 or 15(d)

CONCENTRATIONS (Tables)

v3.21.2
CONCENTRATIONS (Tables)
 6 Months Ended
Jun. 30, 2021
Risks and Uncertainties [Abstract]  
SCHEDULE OF CONCENTRATION RISK PERCENTAGE

Concentration of Purchase Order Financing

 

The Company used a third-party financing company for the quarters ended June 30, 2021which provided letters of credit to vendors for a fee against the purchase orders received by the Company for sale of products to its customers. The letters of credit were issued to the vendors to manufacture Company’s products pursuant to the purchase orders received by the Company.

 

  

Concentration of Customers

 

For the three and six months ended June 30, 2021 and 2020, respectively, the Company had the following concentrations of customers:

 

   

Percentage of

revenues for the

    

Percentage of

revenues for the

     Percentage of accounts  
    Three Months Ended     Six Months Ended     receivables as of  
   

June 30,

    

June 30,

     June 30,     December 31,  
    2021     2020     2021     2020     2021     2020  
Customer 1     37 %     0 %     37 %     0 %     34 %     39 %
Customer 2     16 %     18 %     17 %     21 %     12 %     6 %
Customer 3     7 %     20 %     8 %     20 %     3 %     16 %
Customer 4     9 %     19 %     9 %     19 %     12 %     8 %

 

Concentration of Suppliers

 

For the three and six months ended June 30, 2021 and 2020, respectively, the Company had the following concentrations of suppliers:

 

   

Percentage of

purchases for the

    

Percentage of

purchases for the

     Percentage of accounts  
    Three Months Ended     Six Months Ended     payable as of  
    June 30,     June 30,     June 30,     December 31,  
    2021     2020     2021     2020     2021     2020  
Supplier 1     37 %     22 %     34 %     20 %     38 %     16 %
Supplier 2     14 %     34 %     18 %     30 %     13 %     15 %
Supplier 3     9 %     12 %     10 %     14 %     8 %     6 %
Supplier 4     21 %     0 %     18 %     0 %     23 %     0 %
SCHEDULE OF GEOGRAPHICAL DISTRIBUTION OF REVENUE PERCENTAGE

Geographic Concentration

 

For the three and six months ended June 30, 2021 and 2020, respectively, the Company had the following geographic concentrations:

 

   

Percentage of

revenues for the

    

Percentage of

revenues for the

     Percentage of accounts  
    Three Months Ended     Six Months Ended     receivables as of  
    June 30,     June 30,     June 30,     December 31,  
    2021     2020     2021     2020     2021     2020  
Australia     3 %     7 %     0 %     6 %     1 %     2 %
Canada     4 %     6 %     4 %     7 %     6 %     5 %
Europe     14 %     9       11 %     9 %     15 %     10 %
United States of America     74 %     64 %     78 %     69 %     76 %     82 %
Other     5 %     14 %     7 %     10 %     1 %     2 %