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Business Risk and Credit Risk Concentration Involving Cash
9 Months Ended
Mar. 31, 2020
Risks And Uncertainties [Abstract]  
Business Risk and Credit Risk Concentration Involving Cash

(9) Business Risk and Credit Risk Concentration Involving Cash

 

During the three and nine months ended March 31, 2020, the Company had one customer that substantially comprised all of the Company’s revenue. During the three and nine months ended March 31, 2019, the Company recognized revenue from one customer. As of March 31, 2020, the Company’s trade accounts receivable balance was related to sales to a global shipping and logistics company.

The Company maintains funds in bank accounts that may exceed the limit insured by the Federal Deposit Insurance Corporation of $250 thousand 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.