Concentrations |
3 Months Ended |
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Mar. 31, 2023 | |
| Risks and Uncertainties [Abstract] | |
| Concentrations | Concentrations Major suppliers
The Company sourced approximately 81% of its inventory purchases from three vendors for the three months ended March 31, 2023. The Company sourced approximately 72% of its inventory purchases from three vendors for the three months ended March 31, 2022.
Major customers
Accounts receivable from three customers represented 95% of accounts receivable as of March 31, 2023. Accounts receivable from three customers represented 88% of accounts receivable as of December 31, 2022. Four customers represented 70% of gross sales for the three months ended March 31, 2023. Four customers represented 67% of gross sales for the three months ended March 31, 2022.
Credit risk
As of March 31, 2023 and December 31, 2022, the Company’s cash and cash equivalents were deposited in accounts at several financial institutions and may maintain some balances in excess of federally insured limits. The Company maintains its cash and cash equivalents with high-quality, accredited financial institutions and, accordingly, such funds are subject to minimal credit risk. The Company has not experienced any losses historically in these accounts and believes it is not exposed to significant credit risk in its cash and cash equivalents.
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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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