CONCENTRATIONS	6 Months Ended
Jun. 30, 2024
Risks and Uncertainties [Abstract]
CONCENTRATIONS	NOTE 12 – CONCENTRATIONS Concentrations of credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade accounts receivable and cash deposits. The Company’s cash is held at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation (“FDIC”) limit. To date, the Company has not experienced any losses on its invested cash. As of June 30, 2024 and December 31, 2023, the Company had cash in bank in excess of FDIC insured levels of approximately $0 and $338,739, respectively. In August 2024, the Company has entered into a deposit placement agreement for Insured Cash Sweep Service (“ICS”). This service is a secure, and convenient way to access FDIC protection on large deposits, earn a return, and enjoy flexibility. This will reduce the Company’s risk as it relates to uninsured FDIC amounts in excess of $250,000. Geographic concentrations of sales During the three and six months ended June 30, 2024, 54.7% and 43.8% of total sales were to a customer in Eastern Europe and 45.3% and 56.2% of total sales were to customers in the United States, respectively. During the three and six months ended June 30, 2023, 0% and 64.6% of total sales were to a customer in Bangladesh and 100% and 35.4%% were to customers in the United States, respectively. SAFE PRO GROUP INC. AND SUBSIDIARIES NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 AND 2023 Customer concentration For the three months ended June 30, 2024, two customers accounted for approximately 79.0% of total sales (Mriya Aid 54.7% and Hialeah Gardens PD 24.3%, respectively). For the six months ended June 30, 2024, four customers accounted for approximately 96.1% of total sales (Classic Custom 21.9%, Mriya Aid 43.8%, Hialeah Gardens PD 16.4% and Florida Power & Light 14.0%, respectively). For the three months ended June 30, 2023, one customer, (Classic Custom), accounted for approximately 90.8% of total sales For the three months ended June 30, 2023, one customer accounted for approximately 91.8% of total sales. For the six months ended June 30, 2023, three customers accounted for approximately 96.6% of total sales (19.6%, 64.6% and 12.4%, respectively). A reduction in sales from or the loss of such customers would have a material adverse effect on the Company’s results of operations and financial condition. On June 30, 2024, two customers accounted for 99.5% of the total accounts receivable balance (87.4% and 12.1%, respectively). On December 31, 2023, two customers accounted for 100.0% of the total accounts receivable balance (52.0% and 48.0%, respectively). Sales of Airborne Response are seasonal based on weather conditions or patterns. Supplier concentration During the three months ended June 30, 2024, the Company purchased approximately 58.7% of its inventory from three suppliers. During the six months ended June 30, 2024, the Company purchased approximately 40.0% of its inventory from one supplier. During the three months ended June 30, 2023, the Company purchased approximately 52.2% of its inventory from three suppliers. During the six months ended June 30, 2023, the Company purchased approximately 51.4% of its inventory from one supplier. The loss of these suppliers may have a material adverse effect on the Company’s results of operations and financial condition. However, the Company believes that, if necessary, alternate vendors could supply similar products in adequate quantities to avoid material disruptions to operations.

CONCENTRATIONS

6 Months Ended

Jun. 30, 2024

NOTE 12 – CONCENTRATIONS

Concentrations of credit risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade accounts receivable and cash deposits.

The Company’s cash is held at major commercial banks, which may at times exceed the Federal Deposit Insurance Corporation (“FDIC”) limit. To date, the Company has not experienced any losses on its invested cash. As of June 30, 2024 and December 31, 2023, the Company had cash in bank in excess of FDIC insured levels of approximately $0 and $338,739, respectively. In August 2024, the Company has entered into a deposit placement agreement for Insured Cash Sweep Service (“ICS”). This service is a secure, and convenient way to access FDIC protection on large deposits, earn a return, and enjoy flexibility. This will reduce the Company’s risk as it relates to uninsured FDIC amounts in excess of $250,000.

Geographic concentrations of sales

During the three and six months ended June 30, 2024, 54.7% and 43.8% of total sales were to a customer in Eastern Europe and 45.3% and 56.2% of total sales were to customers in the United States, respectively. During the three and six months ended June 30, 2023, 0% and 64.6% of total sales were to a customer in Bangladesh and 100% and 35.4%% were to customers in the United States, respectively.

SAFE PRO GROUP INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2024 AND 2023

Customer concentration

For the three months ended June 30, 2024, two customers accounted for approximately 79.0% of total sales (Mriya Aid 54.7% and Hialeah Gardens PD 24.3%, respectively). For the six months ended June 30, 2024, four customers accounted for approximately 96.1% of total sales (Classic Custom 21.9%, Mriya Aid 43.8%, Hialeah Gardens PD 16.4% and Florida Power & Light 14.0%, respectively). For the three months ended June 30, 2023, one customer, (Classic Custom), accounted for approximately 90.8% of total sales

For the three months ended June 30, 2023, one customer accounted for approximately 91.8% of total sales. For the six months ended June 30, 2023, three customers accounted for approximately 96.6% of total sales (19.6%, 64.6% and 12.4%, respectively).

A reduction in sales from or the loss of such customers would have a material adverse effect on the Company’s results of operations and financial condition. On June 30, 2024, two customers accounted for 99.5% of the total accounts receivable balance (87.4% and 12.1%, respectively). On December 31, 2023, two customers accounted for 100.0% of the total accounts receivable balance (52.0% and 48.0%, respectively). Sales of Airborne Response are seasonal based on weather conditions or patterns.

Supplier concentration

During the three months ended June 30, 2024, the Company purchased approximately 58.7% of its inventory from three suppliers. During the six months ended June 30, 2024, the Company purchased approximately 40.0% of its inventory from one supplier.

During the three months ended June 30, 2023, the Company purchased approximately 52.2% of its inventory from three suppliers. During the six months ended June 30, 2023, the Company purchased approximately 51.4% of its inventory from one supplier.

The loss of these suppliers may have a material adverse effect on the Company’s results of operations and financial condition. However, the Company believes that, if necessary, alternate vendors could supply similar products in adequate quantities to avoid material disruptions to operations.