General form of registration statement for all companies including face-amount certificate companies

Concentrations

v3.20.4
Concentrations
 9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Risks and Uncertainties [Abstract]    
Concentrations

NOTE 15 - CONCENTRATIONS

 

Customers:

 

Amazon accounted for 60.1% and 57.6% of the Company’s revenues during the nine months ended September 30, 2020 and 2019, respectively. For the three months ended September 30, 2020 and 2019, Amazon accounted for 64.9% and 63.6% of the Company’s revenues. No other customer accounted for 10% or more of the Company’s revenues for either period.

 

Suppliers:

 

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchases for the nine months ended September 30, 2020 and 2019.

 

    September 30, 2020           September 30, 2019        
                         
Garmin   $ 376,741       11.8 %   $ 490,564       15.1 %
Network Innovations   $ 697,902       21.8 %   $ 1,032,647       31.8 %
Cygnus Telecom   $ 376,741       13.2 %   $ 402,455       12.4 %

 

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchases for the three months ended September 30, 2020 and 2019.

 

    September 30, 2020           September 30, 2019        
                         
Garmin   $ 140,666       12.5 %   $ 188,383       18.1 %
Network Innovations   $ 167,300       14.9 %   $ 385,204       36.9 %
Cygnus Telecom   $ 141,364       12.6 %   $ 125,420       12.0 %
Satcom Global   $ 123,435       11.0 %   $ 38,943       1.2 %

 

Geographic:

 

The following table sets forth revenue as to each geographic location, for the nine months ended September 30, 2020 and 2019:

 

    September 30, 2020           September 30, 2019        
                         
Europe   $ 2,749,781       66.0 %   $ 3,216,613       72.2 %
North America     1,035,904       24.9 %     816,699       18.3 %
South America     20,510       0.5 %     33,841       0.8 %
Asia & Pacific     279,247       6.7 %     312,848       7.0 %
Australia & Oceanic     42,594       1.0 %     35,912       0.8 %
Africa     35,714       0.9 %     37,994       0.9 %
    $ 4,163,750             $ 4,453,906          

 

The following table sets forth revenue as to each geographic location, for the three months ended September 30, 2020 and 2019:

 

    September 30, 2020           September 30, 2019        
                         
Europe   $ 1,044,503       70.8 %   $ 1,132,882       64.9 %
North America     290,065       19.7 %     479,463       27.5 %
South America     8,609       0.6 %     13,131       0.8 %
Asia & Pacific     101,244       6.9 %     100,380       5.7 %
Australia & Oceanic     21,655       1.5 %     12,141       0.7 %
Africa     9,317       0.6 %     8,528       0.5 %
    $ 1,475,393             $ 1,746,525          

NOTE 16 - CONCENTRATIONS

 

Customers:

 

Amazon accounted for 56.9% and 37.3% of the Company’s revenues during the years ended December 31, 2019 and 2018, respectively. No other customer accounted for 10% or more of the Company’s revenues for either period.

 

Suppliers:

 

The following table sets forth information as to each supplier that accounted for 10% or more of the Company’s purchases for the years ended December 31, 2019 and 2018.

 

    December 31, 2019     December 31, 2018  
                           
Network Innovations   $ 1,431,075       30.1 %   $ 2,002,733       42.8 %
Garmin   $ 647,360       13.6 %   $ 589,529       12.2 %
Globalstar Europe   $ 568,006       12.0 %   $ 610,933       12.7 %
Cygnus Telecom   $ 525,231       11.1 %   $ 457,871       9.5 %

 

Geographic:

 

The following table sets forth revenue as to each geographic location, for the years ended December 31, 2019 and 2018:

 

    Year Ended December 31, 2019           Year Ended December 31, 2018        
                         
Europe   $ 4,152,218       70.7 %   $ 3,841,332       67.1 %
North America     1,162,869       19.8 %     1,282,494       22.4 %
South America     42,212       0.7 %     227,280       4.0 %
Asia & Pacific     414,725       7.1 %     317,699       5.5 %
Africa     46,783       0.8 %     58,096       1.0 %
    $ 5,869,558             $ 5,726,901