Annual report pursuant to Section 13 and 15(d)

Concentrations

v3.22.1
Concentrations
12 Months Ended
Dec. 31, 2021
Risks and Uncertainties [Abstract]  
Concentrations Concentrations
Major suppliers
The Company sourced approximately 65% of its inventory purchases from two vendors for the year ended December 31, 2021. The Company sourced approximately 76% of its inventory purchases from three vendors for the year ended December 31, 2020.
Major customers
Accounts receivable from three customers represented 71% of accounts receivable as of December 31, 2021. Accounts receivable from two customers represented 72% of accounts receivable as of December 31, 2020. 
Three customers represented 54% of gross sales for the year ended December 31, 2021. Two customers represented 38% of gross sales for the year ended December 31, 2020.
Credit risk
As of December 31, 2021 and 2020, 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.