Annual report pursuant to Section 13 and 15(d)

RISKS AND UNCERTAINTIES

v3.23.1
RISKS AND UNCERTAINTIES
12 Months Ended
Dec. 31, 2022
Risks and Uncertainties [Abstract]  
RISKS AND UNCERTAINTIES RISKS AND UNCERTAINTIES
Concentration Risk

The tables below show 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
For the Years Ended
December 31,
Company Customer Number
2022 2021
C000001462 10  % 46  %
C000001140 13  % *
C000002187 17  % *
*Amounts less than 10%
Customers exceeding 10% of accounts receivable
As of December 31,
Company Customer Number
2022 2021
C000001462 * 41  %
C000001140 * 23  %
C000002151 10  % *
C000002187 24  % *
*Amounts less than 10%

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
For the Years Ended
December 31,
Company Vendor Number
2022 2021
V000001029 13  % 15  %
V000000453 * 14  %
V000001326 * 11  %
V000001372 * 15  %
*Amounts less than 10%

Vendors exceeding 10% of accounts payable:
As of December 31,
Company Vendor Number
2022 2021
V000000453 * 20  %
V000001372 * 33  %
V000001326 * 12  %
V000001910 11  % *
*Amounts less than 10%

Foreign Exchange Risk
Although our revenues and expenses are expected to be predominantly denominated in United States dollars, we 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 we may operate may have a material adverse effect on our business, financial condition and operating results. We may, in the future, establish a program to hedge a portion of our foreign currency exposure with the objective of minimizing the impact of adverse foreign currency exchange movements. However, even if we develop a hedging program, it may not mitigate currency risks.