Annual report pursuant to Section 13 and 15(d)

22. Concentrations

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22. Concentrations
12 Months Ended
Dec. 31, 2016
Pro forma financial information  
22. Concentrations

Major Customers

For the years ended December 31, 2016 and 2015, no single customer accounted for more than 10% of the Company’s consolidated revenues or consolidated accounts receivable.

 

Geographic Concentrations

 

The Company’s operations are significantly influenced by economic factors and risks inherent in conducting business in foreign countries, including government regulations, currency restrictions and other factors that may significantly affect management’s estimates and the Company’s performance.

 

For the years ended December 31, 2016 and 2015, the Company generated approximate revenues from customers in the following countries:

 

    2016   2015
United States  $   109,254,707    $         88,526,867
International Customers         12,790,613               13,167,649
     $   122,045,320    $       101,694,516
         

 

Revenues by geographic area are based upon the location of the customers.

 

Credit Risk

 

The Company maintains its cash balances in high credit quality financial institutions.  The Company’s cash balances may, at times, exceed the deposit insurance limits provided by the Federal Deposit Insurance Corp.