This excerpt taken from the SABA 8-K filed Jul 19, 2005.
Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents and accounts receivable. The Company maintains cash balances at financial institutions that may at times exceed federally insured limits. The Company maintains its cash at high credit quality institutions and, as a result, believes that credit risk related to its cash is not significant. The Companys accounts receivable are derived from revenue earned from clients located primarily in the United States. The Company performs ongoing credit evaluations of its clients financial condition and maintains reserves for potential credit losses based on the expected collectibility of accounts receivable. To date, the Company has not experienced any significant credit losses. During the year ended December 31, 2004, one customer individually represented 18% of revenues. During the year ended December 31, 2003, two customers individually represented 19% and 10%, respectively, of revenues. Two customers individually represented 15% each of total accounts receivables at December 31, 2004. Two customers individually represented 39% and 12%, respectively, of total accounts receivable at December 31, 2003.
THINQ Learning Solutions, Inc.
Notes to Consolidated Financial Statements
For the years ended December 31, 2004 and 2003