| Summary of Customer and Vendor Concentrations |
For
the three and nine months ended September 30, 2021 and 2020, customer and vendor concentrations in excess of 10% consolidated sales and
purchases are as follows:
Summary of Customer and Vendor Concentrations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For
the Three Months |
|
For
the Nine Months |
|
|
Ended
September, 30 |
|
Ended
September, 30 |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Customer: |
|
|
|
|
|
|
|
|
|
Customer
A |
11% |
|
23% |
|
12% |
|
29% |
|
Customer
B |
- |
|
13% |
|
10% |
|
14% |
Vendor: |
|
|
|
|
|
|
|
|
|
Vendor
A |
N/A |
|
N/A |
|
N/A |
|
23% |
As
of September 30, 2021 the following customers and vendors represented more than 10% of accounts receivable and accounts payable balances:
|
|
|
|
|
|
|
|
|
Accounts |
|
Accounts |
|
|
|
Receivable |
|
Payable |
Customer: |
|
|
|
|
|
|
Customer
A |
|
15% |
|
|
|
Customer
B |
|
13% |
|
|
|
Customer
C |
|
11% |
|
|
|
Customer
D |
|
11% |
|
|
Vendor: |
|
|
|
|
|
|
Vendor
A |
|
|
|
15% |
|
Summary of Customer and Vendor Concentrations
| |
|
Sales |
|
|
Purchases |
|
|
Accounts Receivable |
|
|
Accounts Payable |
|
| Customer A |
|
|
26 |
% |
|
|
|
|
|
|
24 |
% |
|
|
|
|
| Customer B |
|
|
13 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
| Customer C |
|
|
|
|
|
|
|
|
|
|
40 |
% |
|
|
|
|
| Vendor A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 |
% |
| Vendor B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11 |
% |
| Vendor C |
|
|
|
|
|
|
17 |
% |
|
|
|
|
|
|
|
|
For
the year ending December 31, 2019, customer and vendor concentrations in excess of 10% consolidated sales and purchases are as
follows:
| |
|
Sales |
|
|
Purchases |
|
| Customer A |
|
|
12 |
% |
|
|
|
|
| Customer B |
|
|
21 |
% |
|
|
|
|
| Customer C |
|
|
13 |
% |
|
|
|
|
| Vendor C |
|
|
|
|
|
|
40 |
% |
| Vendor D |
|
|
|
|
|
|
11 |
% |
| Vendor E |
|
|
|
|
|
|
11 |
% |
|
| Summary of Net Sales Disaggregated by Channel |
The
following table shows the net sales of the Company disaggregated by channel for the three and nine months ended September 30, 2021 and
2020 (in thousands):
Summary of Net Sales Disaggregated by Channel
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For
the Three Months |
|
|
For
the Nine Months |
|
|
|
ended
September 30, |
|
|
ended
September 30, |
|
(In
thousands) |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
e-Commerce |
|
$ |
2,791 |
|
|
$ |
1,860 |
|
|
$ |
8,593 |
|
|
$ |
4,315 |
|
Wholesale |
|
|
5,355 |
|
|
|
1,795 |
|
|
|
9,935 |
|
|
|
5,103 |
|
Private
label |
|
|
916 |
|
|
|
773 |
|
|
|
4,720 |
|
|
|
3,595 |
|
Ending
balance |
|
$ |
9,062 |
|
|
$ |
4,428 |
|
|
$ |
23,248 |
|
|
$ |
13,013 |
|
|
The
following table shows the net sales of the Company disaggregated by channel for the years ended December 31, 2020 and 2019 (in
thousands).
Summary of Net Sales Disaggregated by Channel
| |
|
2020 |
|
|
2019 |
|
| E-commerce |
|
$ |
7,147 |
|
|
$ |
1,610 |
|
| Wholesale |
|
$ |
6,598 |
|
|
$ |
7,229 |
|
| Private Label |
|
$ |
3,257 |
|
|
$ |
1,931 |
|
| Net Sales |
|
$ |
17,002 |
|
|
$ |
10,770 |
|
|
| Schedule of Purchase Price Consideration |
|
Schedule
of Purchase Price Consideration
| Purchase consideration: |
|
|
|
| Cash |
|
$ |
1,511,900 |
|
| Seller note payable |
|
|
3,245,843 |
|
| Assumption of liabilities |
|
|
882,438 |
|
| Relief of liabilities |
|
|
227,163 |
|
| Total purchase consideration |
|
$ |
5,867,344 |
|
| Assets: |
|
|
|
|
| Accounts receivable |
|
$ |
348,853 |
|
| Inventory |
|
$ |
356,672 |
|
| Other assets |
|
$ |
176,313 |
|
| Property, plant, and equipment |
|
$ |
22,672 |
|
| Intangible asset (brand name) |
|
$ |
4,962,834 |
|
| Total assets acquired |
|
|
5,867,344 |
|
| Assumption of liabilities |
|
|
(882,438 |
) |
| Net assets aquired |
|
$ |
4,984,906 |
|
|