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Note 2 - Concentration of Credit Risk and Major Customers
3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]
NOTE
2.
CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS
 
Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and accounts receivable. With regard to cash, we maintain our excess cash balances in checking accounts at primarily
two
financial institutions,
one
in the United States and
one
in China. The account in the United States
may
at times exceed federally insured limits. Of the
$974
in cash at
March 31, 2020,
approximately
$703
was held at banks located in China. We grant credit to customers in the normal course of business and do
not
require collateral on our accounts receivable.
 
Our largest customer has
two
divisions that together accounted for
10%
or more of our net sales during the
three
month period ended and
March 31, 2020
and
2019.
One division accounted for approximately
24%
and
23%
of net sales for the
three
March 31, 2020
and
2019,
respectively. The other division accounted for approximately
2%
of net sales for the
three
month period ended
March 31, 2020
and , and approximately
3%
net sales for the
three
month period ended
March 31, 2019.
Together they accounted for approximately
26%
and
26%
of net sales for the
three
March 31, 2020
and
2019,
respectively. Accounts receivable from the customer at
March 31, 2020
and
December 31, 2019
represented approximately
42%
and
36%
of our total accounts receivable, respectively.
 
Export sales represented approximately
12%
and
19%
of net sales for the
three
months ended
March 31, 2020
and
2019,
respectively.