ACCOUNTS RECEIVABLE

3 Months Ended

Apr. 30, 2018

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE

NOTE 6 — ACCOUNTS RECEIVABLE

The Company may extend credit to a customer based on an evaluation of the customer’s financial condition, generally without requiring collateral. Exposure to losses on accounts receivable is expected to differ by customer due to the varying financial condition of each customer. The Company monitors its exposure to credit losses and maintains an allowance for anticipated losses considered necessary under the circumstances based on historical experience with uncollected accounts and a review of its currently outstanding accounts receivable.

As of both April 30 and January 31, 2018, the amount of the allowance for uncollectible accounts was $0.1 million. The Company did not record a provision for uncollectible accounts and notes receivable in either the three months ended April 30, 2018 or the comparable prior year period.