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General form of registration statement for all companies including face-amount certificate companies

10. Concentrations

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10. Concentrations
 9 Months Ended 12 Months Ended
Sep. 30, 2012
Dec. 31, 2011
Risks and Uncertainties [Abstract]    
10. Concentrations

 

Note 10. Concentrations

 

Concentration of Revenues, Accounts Receivable and Costs and Expenses

 

For the three and nine months ended September 30, 2012 and 2011, the Company had significant customers with individual percentage of total revenues equaling 10% or greater as follows:

 

    For the Three     For the Three     For the Nine     For the Nine  
    Months Ended     Months Ended     Months Ended     Months Ended  
    Septmber 30, 2012     Septmber 30, 2011     Septmber 30, 2012     Septmber 30, 2011  
 Customer 1     27.5 %     38.3 %     35.9 %     42.9 %
 Customer 2     -       11.4 %     13.1 %     -  
 Totals     27.5 %     49.7 %     49.0 %     42.9 %


At September 30, 2012 and December 31, 2011, concentration of accounts receivable with significant customers representing 10% or greater of accounts receivable was as follows:

 

    Septmber 30, 2012     December 31, 2011  
 Customer 1     22.1 %     53.4 %
 Customer 2     15.0 %     17.3 %
 Customer 3     15.0 %     -  
 Totals     52.1 %     70.7 %

 

For the three and nine months ended September 30, 2012 and 2011, the Company had significant vendors representing 10% or greater of cost and expense as follows:

 

    For the Three     For the Three     For the Nine     For the Nine  
    Months Ended     Months Ended     Months Ended     Months Ended  
    Septmber 30, 2012     Septmber 30, 2011     Septmber 30, 2012     Septmber 30, 2011  
 Vendor 1     10.2 %     17.6 %     13.3 %     25.2 %
 Totals     10.2 %     17.6 %     13.3 %     25.2 %

 

Concentration of Credit Risk

 

On November 9, 2010, the FDIC issued a Final Rule implementing section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act that provides for unlimited insurance coverage of noninterest-bearing transaction accounts.  Beginning December 31, 2010, through December 31, 2012, all noninterest-bearing transaction accounts are fully insured, regardless of the balance of the account, at all FDIC-insured institutions.  The unlimited insurance coverage is available to all depositors, including consumers, businesses, and governmental entities.  This unlimited insurance coverage is separate from, and in addition to, the insurance coverage provided to a depositor’s other deposit accounts held at an FDIC-insured institution.  A noninterest-bearing transaction account is a deposit account where interest is neither accrued nor paid; depositors are permitted to make an unlimited number of transfers and withdrawals; and the bank does not reserve the right to require advance notice of an intended withdrawal. The Company maintains its cash in bank and financial institution deposits that at times may exceed federally insured limits. The Company has not experienced any losses in such accounts through December 31, 2011.  As of December 31, 2011, the Company’s bank balances exceeded FDIC insured amounts by approximately $50,000.  There were no balances in excess of FDIC insured levels as of December 31, 2010.

 

Concentration of Revenues, Accounts Receivable and Publisher Expense

 

For the years ended December 31, 2011 and 2010, the Company had significant customers with individual percentage of total revenues equaling 10% or greater as follows:

 

    For the     For the  
    Year Ended     Year Ended  
    December 31, 2011     December 31, 2010  
 Customer 1     44.6 %     50.1 %
 Totals     44.6 %     50.1 %

 

At December 31, 2011 and 2010, concentration of accounts receivable with significant customers representing 10% or greater of accounts receivable was as follows:

 

    December 31, 2011     December 31, 2010  
             
 Customer 1     53.4 %     29.1 %
 Customer 2     17.3 %     -  
 Customer 3     -       30.3 %
 Customer 4     -       20.2 %
 Totals     70.7 %     79.6 %

 

 

For the years ended December 31, 2011 and 2010, the Company had significant vendors representing 10% or greater of cost and expense as follows:

 

    For the     For the  
    Year Ended     Year Ended  
    December 31, 2011     December 31, 2010  
 Vendor 1     24.4 %     38.8 %
 Totals     24.4 %     38.8 %