CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

12 Months Ended

Dec. 31, 2019

Risks and Uncertainties [Abstract]

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

The Company is potentially subject to financial instrument concentration of credit risk through its cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with high quality institutions and performs periodic evaluations of their relative credit standing.

Accounts receivable can be potentially exposed to a concentration of credit risk with its major customers. As of December 31, 2019, amounts due from three customers represented approximately 34%, 14% and 11% of the total accounts receivable balance. As of December 31, 2018, amounts due from two customers represented 22% and 13% of the total accounts receivable balance.

In 2019, two customers accounted for approximately 21% and 12% of total net revenues. In 2018, one customer accounted for approximately 19% of total net revenues. In 2017, two customers accounted for approximately 15% and 11% of total net revenues.