Annual report pursuant to Section 13 and 15(d)

CONCENTRATIONS

v3.23.1
CONCENTRATIONS
 12 Months Ended
Dec. 31, 2022
Risks and Uncertainties [Abstract]  
CONCENTRATIONS

NOTE 19 - CONCENTRATIONS

 

Customers:

 

Amazon accounted for 54.3% and 63.6% of the Company’s revenues during the years ended December 31, 2022 and 2021, 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, 2022 and 2021.

 

                         
    December 31, 2022     December 31, 2021  
                         
Network Innovations   $ 979,884       11.2 %   $ 658,642       10.6 %
Garmin   $ 1,821,158       20.9 %   $ 1,102,230       17.7 %
Globalstar Europe   $ 635,053       7.3 %   $ 725,315       11.6 %
SatCom Global   $ 743,883       8.5 %   $ 973,652       15.6 %
Cygnus Telecom   $ 1,837,273       21.1 %   $ 800,008       12.8 %

 

Geographic:

 

The following table sets forth revenue as to each geographic location, for the years ended December 31, 2022 and 2021:

 

    Year Ended December 31, 2022           Year Ended December 31, 2021        
                         
Europe   $ 8,617,880       73.7 %   $ 5,146,336       66.5 %
North America     2,150,742       18.3 %     1,776,288       22.9 %
South America     45,027       0.4 %     37,139       0.5 %
Asia & Pacific     760,447       6.5 %     695,770       9.0 %
Africa     136,046       1.1 %     84,377       1.1 %
Revenue   $ 11,710,142       100 %   $ 7,739,910       100 %