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Concentrations
9 Months Ended
Sep. 30, 2018
Risks and Uncertainties [Abstract]  
Concentrations

NOTE 3 – CONCENTRATIONS

 

Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash, accounts receivable, and accounts payable. Beginning January 1, 2015, all of our cash balances were insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per depositor at each financial institution. This coverage is available at all FDIC member institutions. The Company uses Zions National Bank, which is an FDIC insured institution. The restricted cash in the amount of $531,888 at September 30, 2018 is in excess of the FDIC limit.

 

For the nine months and year ended September 30, 2018 and December 31, 2017, one customer accounted for 21.99% and 15.7% of the Company’s revenues, respectively.

 

Accounts receivable at September 30, 2018 and December 31, 2017 are made up of trade receivables due from customers in the ordinary course of business. One customer made up 13.29% and another customer 15.7% of the trade accounts receivable balances at September 30, 2018 and December 31, 2017, respectively.

 

Accounts payable are made up of payables due to vendors in the ordinary course of business at September 30, 2018 and December 31, 2017. One vendor made up 65.7%% and 70.1%, respectively of the outstanding balance, which represented greater than 10% of accounts payable at September 30, 2018 and December 31, 2017, respectively.