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EXCEL - IDEA: XBRL DOCUMENT - ESP Resources, Inc.Financial_Report.xls
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EX-32.2 - CERTIFICATION - ESP Resources, Inc.espi_ex322.htm
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v2.4.0.6
1. Basis of Presentation, Nature of Operations and Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2012
Basis Of Presentation Nature Of Operations And Significant Accounting Policies Tables  
Customer Concentration

The Company has three major customers that together account for 63.6% of accounts receivable as of September 30, 2012 and 77.0% of the total revenues earned for the nine months ended September 30, 2012 as follows:


 

   

Accounts

Receivable

    Revenue  
Customer A     36.5 %     37.5 %
Customer B     17.3 %     21.8 %
Customer C     9.9 %     17.7 %
Totals:     63.6 %     77.0 %


The Company has two vendors that accounted for 81.2% of chemical purchases during the nine months ended September 30, 2012 and 59.7% of the ending accounts payable at September 30, 2012 as follows:


 

   

Accounts

Payable

    Purchases  
Vendor A     51.6 %     68.0 %
Vendor B     8.2 %     13.2 %
Totals:     59.7 %     81.2 %


 

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable consisted of the following as of September 30, 2012 and December 31, 2011:


 

   

September 30,

2012

   

December 31,

2011

 
Trade receivables   $ 2,608,875     $ 2,070,334  
Less: Allowance for doubtful accounts     (23,000 )     (149,401 )
Net accounts receivable   $ 2,585,875     $ 1,920,933