CONCENTRATION OF REVENUE AND SUPPLIER
|6 Months Ended|
Jun. 30, 2019
|Risks and Uncertainties [Abstract]|
|CONCENTRATION OF REVENUE AND SUPPLIER||
During the six months ended June 30, 2019, total sale of CBD products to five customers represented approximately 90% (19%, 26% - related party, 24%, 11% and 10%) of the Company’s net sales. There was no revenues generated during the six months ended June 30, 2018.
As of June 30, 2019 total accounts receivable from four customers represented approximately 99% (13%, 37% - related party, 34%, and 15%)of total accounts receivable as compared to none as of December 31, 2018.
During the six months ended June 30, 2019, the Company purchased finished products from C2M (see Note 11) totaling approximately $197,117 (100% of the purchases).
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef