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Note 6 - Concentration
6 Months Ended
Apr. 30, 2020
Risks and Uncertainties [Abstract]  
Concentration

Note 6 - Concentration  

 

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of purchases of inventories, accounts payable, accounts receivable, and revenue.

 

Concentration of Purchases and Accounts Payable

 

For the six months ended April 30, 2020, 100% of the inventories of products , primarily consisting of the “Bidi Stick,” were purchased from Bidi, a related party, in the amount of $18,318,219. It also accounted for 100% of the total accounts payable as of April 30, 2020.

 

Concentration of Revenues and Accounts Receivable

  

For the six months ended April 30, 2020, approximately 36% of the revenue from the sale of products, primarily consisting of the “Bidi Stick,” was generated from Favs Business, LLC in the amount of $8,003,396.

 

Favs Business, LLC, Midwest Distribution, and GW Trading Inc. accounted for approximately 32%, 13%, and 11%, respectively, of the total accounts receivable as of April 30, 2020.