v3.25.3
Disaggregated revenue and Concentration
 9 Months Ended
Sep. 30, 2025
Disaggregated revenue and Concentration  
Disaggregated revenue and Concentration

Note 12 – Disaggregated revenue and Concentration

 

During the three and nine months ended September 30, 2025 and 2024, disaggregated revenue was as follows:

 

 

 

Three Months Ended

 

 

Nine months ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Products sale

 

$91,598

 

 

$68,542

 

 

$1,142,865

 

 

$672,829

 

Product installation service

 

 

196,614

 

 

 

38,500

 

 

 

802,367

 

 

 

65,900

 

 

 

$288,212

 

 

$107,042

 

 

$1,945,232

 

 

$738,729

 

 

During the three and nine months ended September 30, 2025 and 2024, customer and supplier concentration (more than 10%) were as follows:

 

Revenue and accounts receivable

 

Recurring customers do not represent a material percentage of our revenue and accounts receivable for the three and nine months ended September 30, 2025 and 2024.

 

 

 

Three months ended

 

 

Nine months ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Number of customers (more than 10%  revenue)

 

 

6

 

 

 

4

 

 

 

1

 

 

 

3

 

Total revenue of top 5 customers

 

 

79.6%

 

 

82.1%

 

 

37.9%

 

 

95.5%

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Number of customers (more than 10% of accounts receivable)

 

 

2

 

 

 

3

 

Total % of accounts receivable balance (more than 10%)

 

 

67.0%

 

 

86.3%

 

Purchases and accounts payable

 

 

 

Percentage of Purchases

 

 

Percentage of Purchases

 

 

Percentage of

 

 

 

For three months ended

 

 

For nine months ended

 

 

Accounts payable for purchase

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

December 31

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Supplier A

 

 

-

 

 

 

62.8%

 

 

32.5%

 

 

33.8%

 

 

-

 

 

 

-

 

Supplier B

 

 

3.7%

 

 

9.6%

 

 

4.9%

 

 

8.4%

 

 

4.9%

 

 

74.5%

Supplier C

 

 

-

 

 

 

0.8%

 

 

-

 

 

 

27.8%

 

 

-

 

 

 

-

 

Supplier D

 

 

41.9%

 

 

2.0%

 

 

7.0%

 

 

8.3%

 

 

59.1%

 

 

-

 

Supplier E

 

 

-

 

 

 

-

 

 

 

13.6%

 

 

-

 

 

 

-

 

 

 

-

 

Supplier F

 

 

-

 

 

 

18.5%

 

 

3.2%

 

 

10.0%

 

 

-

 

 

 

100.0%

Supplier G

 

 

13.2%

 

 

-

 

 

 

19.1%

 

 

-

 

 

 

-

 

 

 

-

 

Supplier H

 

 

17.9%

 

 

-

 

 

 

3.3%

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total (as a group)

 

 

76.7%

 

 

93.7%

 

 

83.5%

 

 

88.4%

 

 

64.0%

 

 

174.5%

 

To reduce risk, the Company closely monitors the amounts due from its customers and assesses the financial strength of its customers through a variety of methods that include, but are not limited to, engaging directly with customer operations and leadership personnel, visiting customer locations to observe operating activities, and assessing customer longevity and reputation in the marketplace. As a result, the Company believes that its accounts receivable credit risk exposure is limited.