Summary of Significant Customers and Vendors |
The Company’s concentration of
credit risk includes its concentrations from key customers and vendors. The details of these significant customers and vendors
are presented in the following table for the years ended December 31, 2018 and 2017:
|
|
Year Ended |
|
Year Ended |
|
|
|
December 31, 2018 |
|
December 31, 2017 |
|
|
|
|
|
|
|
Sound Concept’s largest customers are presented below as a percentage of Sound Concept’s aggregate: |
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
11% of revenue from one customer |
|
17%, 17% and 11% of revenue, or 45% of revenue in the aggregate |
|
|
|
|
|
|
|
Accounts receivable |
|
10% and 17% of accounts receivable, or 27% of accounts receivable in the aggregate |
|
24%, 13% and 13% of accounts receivable, or 50% of accounts receivable in the aggregate |
|
|
|
|
|
|
|
Sound Concept’s largest vendors are presented below as a percentage of Sound Concept’s aggregate: |
|
|
|
|
|
|
|
|
|
|
|
Purchase |
|
12% of purchase from one vendor |
|
None over 10% |
|
|
|
|
|
|
|
Accounts payable |
|
16% and 10% of accounts payable, or 26% of accounts payable in the aggregate |
|
14% of accounts payable to one vendor |
|
|
Schedule of Revenues |
Revenues during the years ended December 31, 2018 and 2017
were as follows:
|
|
December 31, 2018 |
|
|
December 31, 2017 |
|
|
|
Revenues |
|
|
Cost of Goods Sold |
|
|
Gross Profit (Loss) |
|
|
Revenues |
|
|
Cost of Goods Sold |
|
|
Gross Profit (Loss) |
|
Digital |
|
$ |
3,702,000 |
|
|
$ |
505,000 |
|
|
$ |
3,197,000 |
|
|
$ |
3,087,000 |
|
|
$ |
427,000 |
|
|
$ |
2,660,000 |
|
Corporate and Fulfilment |
|
|
7,258,000 |
|
|
|
4,829,000 |
|
|
|
2,429,000 |
|
|
|
7,649,000 |
|
|
|
5,027,000 |
|
|
|
2,622,000 |
|
Shipping |
|
|
1,774,000 |
|
|
|
1,787,000 |
|
|
|
(13,000 |
) |
|
|
810,000 |
|
|
|
839,000 |
|
|
|
(29,000 |
) |
Total |
|
$ |
12,734,000 |
|
|
$ |
7,121,000 |
|
|
$ |
5,613,000 |
|
|
$ |
11,546,000 |
|
|
$ |
6,293,000 |
|
|
$ |
5,253,000 |
|
|