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).
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For the Six Months Ended June 30, 2023 |
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For the Six Months Ended June 30, 2022 |
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Iridium Satellite |
|
$ |
651,000 |
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|
|
13.4 |
% |
|
$ |
- |
|
|
|
- |
% |
Globalstar Europe |
|
$ |
535,000 |
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|
11.0 |
% |
|
$ |
212,000 |
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|
4.2 |
% |
Garmin |
|
$ |
1,087,000 |
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|
|
22.4 |
% |
|
$ |
999,000 |
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|
|
19.7 |
% |
Network Innovations |
|
$ |
635,000 |
|
|
|
13.1 |
% |
|
$ |
521,000 |
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|
|
10.3 |
% |
Cygnus Telecom |
|
$ |
373,000 |
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|
|
7.7 |
% |
|
$ |
1,196,000 |
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|
23.6 |
% |
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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).
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For the Three Months Ended June 30, 2023 |
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For the Three Months Ended June 30, 2022 |
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Globalstar Europe |
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$ |
267,000 |
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|
14.0 |
% |
|
$ |
120,000 |
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|
5.7 |
% |
Garmin |
|
$ |
479,000 |
|
|
|
25.3 |
% |
|
$ |
583,000 |
|
|
|
27.8 |
% |
Network Innovations |
|
$ |
295,000 |
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|
|
15.6 |
% |
|
$ |
201,000 |
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|
|
9.6 |
% |
Cygnus Telecom |
|
$ |
58,000 |
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3.0 |
% |
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$ |
255,000 |
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12.2 |
% |
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Geographic:
The following table sets forth revenue as to each geographic location, for the six months ended June 30, 2023 and 2022 (unaudited):
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For the Six Months Ended June 30, 2023 |
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For the Six Months Ended June 30, 2022 |
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Europe |
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$ |
3,690,340 |
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63.3 |
% |
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$ |
5,064,843 |
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78.5 |
% |
North America |
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|
1,461,702 |
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25.1 |
% |
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|
899,958 |
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14.0 |
% |
South America |
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|
17,904 |
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0.3 |
% |
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|
22,306 |
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0.3 |
% |
Asia & Pacific |
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|
562,937 |
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9.7 |
% |
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|
397,540 |
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6.2 |
% |
Africa |
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|
100,632 |
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1.6 |
% |
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|
64,610 |
|
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|
1.0 |
% |
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|
$ |
5,833,515 |
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|
100.0 |
% |
|
$ |
6,449,257 |
|
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|
100.0 |
% |
The following table sets forth revenue as to each geographic location, for the three months ended June 30, 2023 and 2022 (unaudited):
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For the Three Months Ended June 30, 2023 |
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For the Three Months Ended June 30, 2022 |
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Europe |
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$ |
1,704,321 |
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57.6 |
% |
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$ |
2,165,445 |
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75.4 |
% |
North America |
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|
869,682 |
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29.4 |
% |
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|
462,742 |
|
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|
16.1 |
% |
South America |
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|
8,290 |
|
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|
0.3 |
% |
|
|
10,533 |
|
|
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0.4 |
% |
Asia & Pacific |
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|
335,290 |
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|
|
11.3 |
% |
|
|
201,371 |
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|
7.0 |
% |
Africa |
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|
39,779 |
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|
1.4 |
% |
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|
31,388 |
|
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|
1.1 |
% |
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|
$ |
2,957,362 |
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|
100.0 |
% |
|
$ |
2,871,479 |
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|
100.0 |
% |
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