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Business and Credit Concentrations
9 Months Ended
Mar. 31, 2023
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 with an accounts receivable balance that comprised of 12% of the Company’s overall accounts receivable as of March 31, 2023. As of June 30, 2022, the accounts receivable balance with this

respective customer did not exceed 10% of the Company’s overall accounts receivable. Sales to this customer did not exceed 10% of the Company’s net sales during the three and nine months ended March 31, 2023 and 2022. The Company had another customer with an accounts receivable balance that comprised 16% of the Company’s overall accounts receivable at June 30, 2023. This customer’s accounts receivable balance did not exceed 10% of the Company’s overall accounts receivable at March 31, 2023. 31, 2023. Sales to this customer did not exceed 10% of the Company’s net sales during the three and nine months ended March 31, 2023 and 2022. The Company had another customer with an accounts receivable balance that comprised 19% and 22% of the Company’s overall accounts receivable as of March 31, 2023 and June 30, 2022, respectively. Sales to this customer was 12% and 10% of the Company’s net sales for the three and nine months ended March 31, 2023, respectively. Sales to this customer did not exceed 10% of the Company’s net sales for the three and nine months ended March 31, 2022.