Concentration of Credit Risk. Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from our normal business activities. We place our cash in what we believe to be credit-worthy financial institutions. We have a diversified customer base. We control credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited. Revenue Recognition The Company’s revenue recognition policies are in compliance with Staff Accounting Bulletin SAB 104 (ASC 605). Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured. Advertising Expense Advertising costs are charged to expense as incurred and were immaterial for the years ended December 31, 2009 and 2008. Research and Development Research and development costs are expensed as incurred. Income Taxes The Company utilizes SFAS No. 109 (ASC 740), "Accounting for Income Taxes," which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASI Holdings Ltd has significant income tax net operating losses carried forward from prior years. Due to the uncertainty of the realizability of the related deferred tax asset, a reserve equal to the amount of deferred income taxes has been established at December 31, 2009 and 2008. Fair Value of Financial Instruments Statement of Financial Accounting Standard No. 107 (ASC 825), “Disclosures ...
Concentration of Credit Risk. Xxxxxx House, Inc. and Xxxxxx Lakeside at Reeds Landing grant credit without collateral to its residents, most of whom are insured under third-party payor agreements. Xxxxxx Communities, Inc.’s residents are privately funded. The mix of receivables from residents and third-party payors for 2014 is as follows: Private $ 719,026 Medicaid 407,715 Medicare 396,155 Other third-party payors 528,638 2,051,534 Allowance (214,695) Accounts receivable - residents, net $ 1,836,839 Note 7 - Property and Equipment The following is a summary at December 31, 2014: Land $ 2,531,584 Land improvements 1,595,813 Buildings 67,356,624 Building improvements 20,371,240 Furniture and equipment 7,318,489 Motor vehicles 407,498 Construction in process 239,211 99,820,459 Less: accumulated depreciation and amortization (42,694,118) $ 57,126,341 Construction in process is for various apartment renovations, building expansion and improvement at Xxxxxx House Nursing Center, and other miscellaneous renewals and improvements across the communities.
Concentration of Credit Risk. The Cash Management Fund invests in a portfolio of money market instruments maturing in 397 days or less which are rated in the highest rating category by a nationally recognized statistical rating agency or, if not rated, are believed to be of comparable quality. The ability of the issuers of the securities held by the Fund to meet their obligations may be affected by economic developments in a specific industry, state or region. The summary of credit quality ratings for the securities held by the Cash Management Fund at August 31, 1995 are as follows: Standard & Poor's ------- US Government Securities 2.00% Repurchase Agreements 10.30% A-1 8.51% A-1+ 79.19% Portfolio breakdowns are stated as a percentage of total portfolio value. The US Government securities represent obligations issued or guaranteed by the US Government and its agencies or instrumentalities. Repurchase agreements are collateralized by U.S. Government or U.S. Government agency securities. NOTES TO FINANCIAL STATEMENTS (Continued) -------------------------------------------------------------------------------- FFB Lexicon Funds--August 31, 1995 Mortgage-backed securities held in the Intermediate-Term Government Securities Fund and Fixed Income Fund are subject to prepayment of the underlying mortgages. During periods of declining interest rates, prepayment of mortgages underlying these securities can result in the reinvestment in securities yielding lower prevailing rates.
Concentration of Credit Risk. Concentration of credit risk with respect to accounts receivable is limited due to the wide variety of customers and markets in which the Company’s products are sold, as well as their dispersion across different geographic areas. As a result, at December 31, 2001 and 2000, the Company does not consider itself to have a significant concentration of credit risk. While the Company believes that the equipment required from its suppliers is presently available in quantities sufficient to meet demand, the failure of a significant supplier not to deliver on a timely basis could adversely affect the Company’s future results of operations. [NOTE: THE INFORMATION CONTAINED IN THESE DISCLOSURE SCHEDULES REFLECTS EVENTS AND CIRCUMSTANCES AS OF JUNE 17, 2002. THIS INFORMATION HAS NOT BEEN UPDATED TO REFLECT ANY EVENTS SUBSEQUENT TO THAT TIME AND, ACCORDINGLY, MAY BE OUTDATED AND MAY NOT REFLECT CURRENT INFORMATION REGARDING THE COMPANY AND ITS OPERATIONS. THE COMPANY WILL NOT UPDATE THESE DISCLOSURE SCHEDULES FOR ANY REASON. PLEASE REFER TO THE COMPANY’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) FOR MORE CURRENT INFORMATION REGARDING THE COMPANY. IN ADDITION, SOME OF THE INFORMATION CONTAINED IN THESE SCHEDULES CONTAINS FORWARD-LOOKING STATEMENTS. PLEASE REFER TO THE COMPANY’S FILINGS WITH THE SEC FOR THE LIMITATIONS AND RISKS ASSOCIATED WITH FORWARD-LOOKING STATEMENTS.] At various times during the year, cash and cash equivalents on deposit with one banking institution exceeded the $100,000 insured by the Federal Deposit Insurance Corporation. Management monitors the financial condition of the institution on a regular basis, along with their balances in cash and cash equivalents, to minimize this potential risk.
Concentration of Credit Risk. During 1996 and for the Period from July 31, 1995 to December 31, 1995, three customers and one customer, respectively, accounted for 41% and 26%, respectively, of net revenue. Accounts receivable from such customers were approximately $826,000 and $305,000 at December 31, 1996 and 1995, respectively. Substantially all sales are made to customers who are in the pharmaceutical industry. The Company performs periodic credit evaluations of its customers' financial condition and frequently does not require collateral. The Company does not believe that this concentration of sales and credit risk represents a material risk of loss with respect to its financial position as of December 31, 1996.
Concentration of Credit Risk. Major Customer Concentrations of credit risk with respect to trade receivables and revenue are limited due to the large number of customers comprising the Company’s customer base.
Concentration of Credit Risk. As of March 31, 2014 (Successor) three customers comprised approximately 64% of the gross accounts receivable balance, which is reflective of concentration in our industry and seasonality of the business. As of December 31, 2013 (Successor), three customers accounted for 53% of our gross accounts receivable. For the three months ended March 31, 2014 (Successor), one customer accounted for approximately 11% of our gross revenue. For the periods March 23, 2013 to March 31, 2013 (Successor) and January 1, 2013 to March 22, 2013 (Predecessor), no single customer accounted for more than 10% of our gross revenue. The loss of, or any reduction in sales from, a significant customer or deterioration in their ability to pay could harm our business and financial results.
Concentration of Credit Risk. The Company's lending is concentrated in one-to-four family residential real estate, multi-family residential real estate and commercial real estate loans to borrowers in the metropolitan New York area. The Company evaluates each customer's creditworthiness on a case-by-case basis under the Company's established underwriting policies. The collateral obtained by the Company generally consists of first liens on one-to-four family and multi-family residential real estate and commercial income producing real estate.
Concentration of Credit Risk. The Company places its cash with high quality financial institutions and at times may exceed the FDIC $100,000 insurance limit. The Company will extend credit based on an evaluation of the customer’s financial condition, generally without collateral. Exposure to losses on receivables is principally dependent on each customer’s financial condition. The Company will monitor its exposure for credit losses and maintains allowances for anticipated losses, if required. Advertising Costs Advertising costs are expensed as incurred. There were no advertising expenses for the periods. Income Taxes The Company accounts for income taxes under SFAS 109, "Accounting for Income Taxes." Under the asset and liability method of SFAS 109, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under SFAS 109, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. Basic and Diluted Income/(Loss) Per Share: In accordance with SFAS No. 128, "Earnings Per Share," the basic income/(loss) per common share is computed by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted income per common share is computed similar to basic income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
Concentration of Credit Risk. The Company's accounts receivable are derived from sales of products and services primarily to customers operating multi-location retail stores, hotels, and hospitals. At December 31, 2000 and 1999, accounts receivable includes amounts due from four customers totaling $216,202 and $660,970, respectively. These customers accounted for 79% and 87% of accounts receivable at December 31, 2000 and 1999, respectively. Sales to significant customers are summarized in Note 14. The Company provides credit terms to its customers in the normal course of business. The Company performs ongoing credit evaluations of it customers and maintains an allowance for doubtful accounts based upon collection assessment. Collateral is not required from customers.
