Quarterly report pursuant to Section 13 or 15(d)

RISKS AND UNCERTAINTIES

v3.22.2.2
RISKS AND UNCERTAINTIES
9 Months Ended
Sep. 30, 2022
Risks and Uncertainties [Abstract]  
RISKS AND UNCERTAINTIES

NOTE 8 – RISKS AND UNCERTAINTIES

 

Concentration Risk

 

The table below shows customers who account for 10% or more of the Company’s total revenues and 10% or more of the Company’s accounts receivable for the periods presented:

 

Customers exceeding 10% of revenue:

 

   

Three Months Ended

September 30,

   

Three Months Ended

September 30,

   

Nine Months Ended

September 30,

   

Nine Months Ended

September 30,

 
Company Customer Number   2022     2021     2022     2021  
C000001462     *       58 %     12 %     51 %
C000001140     *       *       16 %     *  
C000001696     12 %     *       *       *  

 

Customers exceeding 10% of accounts receivable:

 

    September 30,     December 31,  
Company Customer Number   2022     2021  
C000001462     *       41 %
C000001140     14 %     23 %
C000002187     22 %     *  

 

 

The table below shows vendors who account for 10% or more of the Company’s total purchases and 10% or more of the Company’s accounts payable for the periods presented:

 

Vendors exceeding 10% of purchases:

 

    Three Months Ended
September 30,
    Three Months Ended
September 30,
   

Nine
Months Ended

September 30,

    Nine Months Ended
September 30,
 
Company Vendor Number   2022     2021     2022     2021  
V000001029     *       10 %     19 %     *  
V000000453     *       18 %     *       13 %
V000001326     10 %     18 %     *       13 %
V000001372     *       15 %     *       15 %

 

Vendors exceeding 10% of accounts payable:

 

    September 30,     December 31,  
Company Vendor Number   2022     2021  
V000000453     *       20 %
V000001372     *       33 %
V000001326     *       12 %
V000001740     14 %     *  
V000001818     15 %      *  

 

*Amounts less than 10%

 

Foreign Exchange Risk

 

Although the Company’s revenues and expenses are expected to be predominantly denominated in United States dollars, the Company may be exposed to currency exchange fluctuations. Recent events in the global financial markets have been coupled with increased volatility in the currency markets. Fluctuations in the exchange rate between the U.S. dollar, the Canadian dollar, the Euro, and the currency of other regions in which the Company may operate may have a material adverse effect on the Company’s business, financial condition and operating results. The Company may, in the future, establish a program to hedge a portion of the Company’s foreign currency exposure with the objective of minimizing the impact of adverse foreign currency exchange movements. However, even if the Company develops a hedging program, there can be no assurance that it will effectively mitigate currency risks.