Customer and Supplier Concentration |
12 Months Ended |
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Dec. 31, 2023 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Customer and Supplier Concentration |
15. Customer and Supplier Concentration
Significant dealers and suppliers are those that account for greater than 10% of the Company’s revenues and purchases.
During the year ended December 31, 2023, one individual dealer had sales of over 10% of our total sales, and one customer represented 10% of total sales. During the year ended December 31, 2022, one individual customer had sales of over 10% of our total sales and one customer represented 12% of total sales.
During the year ended December 31, 2023, we purchased a substantial portion of materials from one third-party vendors. As of December 31, 2023, the amount due to the vendors was $396,828. During the year ended December 31, 2022, we purchased a substantial portion of materials from two third-party vendors. As of December 31, 2022, the amount due to the vendors was $845,042. The Company believe there are other suppliers that could be substituted should the supplier become unavailable or non-competitive.
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- References No definition available.
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- Definition The entire disclosure for arrangements in which the entity has agreed to expend funds to procure goods or service from one or more suppliers, or to commit resources to supply goods or services to one or more customers. May include identification of the goods or services to be purchased, the goods or services to be furnished, identity of the buyer or seller, pricing, effects on pricing (such as penalties) of failing to reach minimum quantities required to be purchased, effects on pricing (such as penalties) of failing to deliver minimum quantities required to be furnished, cancellation rights, and termination provisions. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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