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MAJOR CUSTOMERS
3 Months Ended
Mar. 31, 2019
Risks and Uncertainties [Abstract]  
MAJOR CUSTOMERS

NOTE I – MAJOR CUSTOMERS

 

During the three months ended March 31, 2019, we recorded 100% of our revenue from three customers with each represented 64%, 22% and 14% of total revenues.

 

During the three months ended March 31, 2018, we recorded 85% of our revenue from one customer.

 

As of March 31, 2019, two of the Company’s customers represents 78% and 22% of the total accounts receivable.

 

As of December 31, 2018, two of the Company’s customers represents 98% of the total accounts receivable.

 

We received a substantial deposit from a customer in the utility industry, which has filed for bankruptcy protection. The customer has paid multiple deposits totaling $1,496,219 as of March 31, 2019. The balance is included in our balance sheet as “Deposits from customers”. In January 2019, our customer filed for bankruptcy protection. As of March 31, 2019, we do not believe this bankruptcy filing will negatively affect the purchase order we received. However, if the customer was to cancel the order or under bankruptcy law we were required to return the deposit, then our operations would be adversely affected.