Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.20.2
Concentrations
9 Months Ended
Sep. 30, 2020
Risks and Uncertainties [Abstract]  
CONCENTRATIONS

NOTE 11 - CONCENTRATIONS


Customers


The following table sets forth information as to each customer that accounted for 10% or more of the Company’s revenues for the three and nine months ended September 30, 2020 and 2019.


    Three Months Ended September 30,     Nine Months Ended September 30,  
Customer   2020     2019     2020     2019  
A (Hebei Daopei, a related party)     *       28 %     *       15 %
B     28 %     21 %     29 %     23 %
C     18 %     14 %     18 %     15 %
D     14 %     11 %     14 %     12 %

* Less than 10%

Two customers, whose outstanding receivable accounted for 10% or more of the Company’s total outstanding accounts receivable, accounts receivable – related party, and rent receivable at September 30, 2020, accounted for 62.6% of the Company’s total outstanding accounts receivable, accounts receivable – related party, and rent receivable at September 30, 2020.


Two customers, whose outstanding receivable accounted for 10% or more of the Company’s total outstanding accounts receivable, accounts receivable – related party, and rent receivable at December 31, 2019, accounted for 93.0% of the Company’s total outstanding accounts receivable, accounts receivable – related party, and rent receivable at December 31, 2019.


Suppliers


No supplier accounted for 10% or more of the Company’s purchase during the three and nine months ended September 30, 2020 and 2019.


One supplier, whose outstanding payable accounted for 10% or more of the Company’s total outstanding accounts payable at September 30, 2020, accounted for 93.6% of the Company’s total outstanding accounts payable at September 30, 2020.


One supplier, whose outstanding payable accounted for 10% or more of the Company’s total outstanding accounts payable at December 31, 2019, accounted for 90.8% of the Company’s total outstanding accounts payable at December 31, 2019.