Business Risk and Credit Risk Concentration Involving Cash

9 Months Ended

Mar. 31, 2016

Risks and Uncertainties [Abstract]

Business Risk and Credit Risk Concentration Involving Cash

Business Risk and Credit Risk Concentration Involving Cash

For the current fiscal year 2016, the Company has three customers that together comprise 100% of the Company’s revenue. All of the Company’s revenue during fiscal year 2015 came from one customer. The following tables summarize the concentrations of sales and accounts receivable percentages for our three customers:

	Three Months Ended   March 31, 2016		Three Months Ended   March 31, 2015
	Percentage of Total Sales		Percentage of Total Sales
Battelle Memorial Institute	11	%	100	%
Smiths Detection Inc.	89	%	—	%
A Japanese Aerospace Company	—	%	—	%
Total	100	%	100	%

	Nine Months Ended   March 31, 2016		Nine Months Ended   March 31, 2015
	Percentage of Total Sales		Percentage of Total Sales
Battelle Memorial Institute	59	%	100	%
Smiths Detection Inc.	20	%	—	%
A Japanese Aerospace Company	21	%	—	%
Total	100	%	100	%

	March 31, 2016		June 30, 2015
	Percentage of Total A/R		Percentage of Total A/R
Battelle Memorial Institute	—	%	—	%
Smiths Detection Inc.	79	%	—	%
A Japanese Aerospace Company	—	%	—	%
Total	79	%	—	%

As of June 30, 2015, no customer comprised a material amount of accounts receivable.

The Company maintains funds in bank accounts that may exceed the limit insured by the Federal Deposit Insurance Corporation (“FDIC”) of $250,000 per depositor. The risk of loss attributable to these uninsured balances is mitigated by depositing funds in what we believe to be high credit quality financial institutions. The Company has not experienced any losses in such accounts.