Quarterly report pursuant to Section 13 or 15(d)

Note 18 - Concentrations

v3.23.2
Note 18 - Concentrations
6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

Note 18. Concentrations

 

Customers:

 

Sales to customers through Amazon accounted for 49.1% and 49.5% of the Company’s revenues during the six months ended June 30, 2023 and 2022, 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 six months ended June 30, 2023 and 2022 (unaudited).

 

   

For the Six Months Ended June 30, 2023

           

For the Six Months Ended June 30, 2022

         
                                 

Iridium Satellite

  $ 651,000       13.4 %   $ -       - %

Globalstar Europe

  $ 535,000       11.0 %   $ 212,000       4.2 %

Garmin

  $ 1,087,000       22.4 %   $ 999,000       19.7 %

Network Innovations

  $ 635,000       13.1 %   $ 521,000       10.3 %

Cygnus Telecom

  $ 373,000       7.7 %   $ 1,196,000       23.6 %
                                 

 

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  June 30, 2023 and 2022 (unaudited).

 

   

For the Three Months Ended June 30, 2023

           

For the Three Months Ended June 30, 2022

         
                                 

Globalstar Europe

  $ 267,000       14.0 %   $ 120,000       5.7 %

Garmin

  $ 479,000       25.3 %   $ 583,000       27.8 %

Network Innovations

  $ 295,000       15.6 %   $ 201,000       9.6 %

Cygnus Telecom

  $ 58,000       3.0 %   $ 255,000       12.2 %
                                 

 

Geographic:

 

The following table sets forth revenue as to each geographic location, for the six months ended June 30, 2023 and 2022 (unaudited):

 

   

For the Six Months Ended June 30, 2023

           

For the Six Months Ended June 30, 2022

         
                                 

Europe

  $ 3,690,340       63.3 %   $ 5,064,843       78.5 %

North America

    1,461,702       25.1 %     899,958       14.0 %

South America

    17,904       0.3 %     22,306       0.3 %

Asia & Pacific

    562,937       9.7 %     397,540       6.2 %

Africa

    100,632       1.6 %     64,610       1.0 %
    $ 5,833,515       100.0 %   $ 6,449,257       100.0 %

 

The following table sets forth revenue as to each geographic location, for the three months ended  June 30, 2023 and 2022 (unaudited):

 

   

For the Three Months Ended June 30, 2023

           

For the Three Months Ended June 30, 2022

         
                                 

Europe

  $ 1,704,321       57.6 %   $ 2,165,445       75.4 %

North America

    869,682       29.4 %     462,742       16.1 %

South America

    8,290       0.3 %     10,533       0.4 %

Asia & Pacific

    335,290       11.3 %     201,371       7.0 %

Africa

    39,779       1.4 %     31,388       1.1 %
    $ 2,957,362       100.0 %   $ 2,871,479       100.0 %