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Major Customers
12 Months Ended
Mar. 31, 2018
Risks and Uncertainties [Abstract]  
Major Customers

8. Major Customers

 

Currently, the Company operates exclusively within the United States and its revenues and operating profit are derived from the oil and gas industry. Oil and gas production is sold to various purchasers and the receivables are unsecured. Historically, the Company has not experienced significant credit losses on its oil and gas accounts and management is of the opinion that significant credit risk does not exist. Management is of the opinion that the loss of any one purchaser would not have an adverse effect on the Company’s ability to sell its oil and gas production.

 

In fiscal 2018, one customer accounted for 37% of the total oil and gas revenues and 33% of the total oil and gas accounts receivable and another customer accounted for 8% of the total oil and gas revenues and 7% of the total oil and gas accounts receivable. In fiscal 2017, one customer accounted for 31% of the total oil and gas revenues and 32% of the total oil and gas accounts receivable and another customer accounted for 12% of the total oil and gas revenues and 5% of the total oil and gas accounts receivable.