NOTE L – CONCENTRATIONS

The Company maintains cash deposits in accounts at financial institutions. The accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 at each institution. At June 30, 2023, the Company had no cash deposits in excess of the FDIC insured limit. The Company maintains cash equivalents in brokerage accounts at financial institutions. At June 30, 2023, the Company had cash equivalents of $16,362,000 in these brokerage accounts.

Revenue from one party constituted 100% of the Company’s revenue for the three months ended June 30, 2023. Revenue from four parties constituted 96% of the Company’s revenue for the six months ended June 30, 2023. All such revenue for the three and six months ended June 30, 2023 was derived from the Remote Power Patent. The Company had no revenue for the three and six months ended June 30, 2022.