XML 19 R9.htm IDEA: XBRL DOCUMENT v3.21.1
Business and Credit Concentrations
9 Months Ended
Mar. 31, 2021
Business and Credit Concentrations  
Business and Credit Concentrations

NOTE 3 - Business and Credit Concentrations

An entity is more vulnerable to concentrations of credit risk if it is exposed to risk of loss greater than it would have had if it mitigated its risk through diversification of customers. Such risks of loss manifest themselves differently, depending on the nature of the concentration, and vary in significance.

The Company had one customer which had an accounts receivable balance that comprised 11% and 24% of the Company’s accounts receivable at March 31, 2021 and June 30, 2020, respectively. Sales to this customer comprised 4% and 8% of net sales in the three and nine months ended March 31, 2021, respectively. Sales to this customer comprised 12% and 11% of net sales in the three and nine months ended March 31, 2020, respectively.

The Company had a second customer which had an accounts receivable balance that comprised 15% of the Company’s accounts receivable at March 31, 2021. The customer's accounts receivable balance did not exceed 10% of accounts receivable at June 30, 2020. Sales to this customer did not exceed 10% of net sales in either of the three months ended March 31, 2021 and 2020 or the nine months ended March 31, 2021 and 2020.

The Company had a third customer which had an accounts receivable balance that comprised 11% of the Company's accounts receivable at March 31, 2021.The customer’s accounts receivable balance did not exceed 10% of accounts receivable at June 30, 2020. Sales to this customer did not exceed 10% of net sales in either of the three months ended March 31, 2021 and 2020 or the nine months ended March 31, 2021 and 2020.