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CONCENTRATIONS OF RISKS
9 Months Ended
Sep. 30, 2024
Risks and Uncertainties [Abstract]  
CONCENTRATIONS OF RISKS

NOTE 11 CONCENTRATIONS OF RISKS

 

Major Customers and Accounts Receivable

 

The Company had no customers whose revenue individually represented 10% or more of the Company’s total revenue during the nine-month period ended September 30, 2024, and 2023. The Company had two customers with accounts receivable balances aggregating representing 23% of the Company’s total accounts receivable on September 30, 2024, and September 30, 2023 and one third party payor representing 48% and 24% of the Company’s total accounts receivable on September 30, 2024, and September 30, 2023, respectively.

 

 

Liquidity

 

The Company’s cash and cash equivalents are held primarily with two financial institutions. The Company has deposits which exceed the amount insured by the FDIC. To reduce the risk associated with the failure of such counterparties, the Company periodically evaluates the credit quality of the financial institutions in which it holds deposits.

 

Product and Geographic Markets

 

The Company generates its income primarily from lighting and heating products, and increasingly, smart-based products sold primarily in the United States.