Concentration of credit risk (Notes)

6 Months Ended

Dec. 31, 2020

Concentration Risk Disclosure [Text Block]

Concentration of Credit Risk

Credit Risk

Financial Instruments, which potentially subject the Company to concentration of credit risk, consist principally of cash and cash equivalents, restricted cash and trade receivables. Concentration of credit risk with respect to trade receivables is generally diversified due to the large number of entities comprising the Company's customer base and their dispersion across geographic areas principally within the United States and international. The Company routinely address the financial strength of its customer and, as a consequence, believes that its receivable credit risk exposure is limited. The Company does not require customers to post collateral.

Major Customer

One customer accounted for 0.18 and 19% of net sales during the three months and six months ended December 31, 2020. One customer accounted for 13% and 18% of net sales during the three months and six months ended December 31, 2019.

As of December 31, 2020 the Company had one customer that represents 14% of the total accounts receivable balance. As of June 30, 2020 the Company had one customer that represents 18% of the total accounts receivable balance.

Major Supplier

The Company's two largest suppliers accounted for 41% and 12% of the total purchase for the three-month period ended December 31, 2020. The Company's two largest suppliers accounted for 38% and 13% of the total purchase for the six-month period ended December 31, 2020. The Company's one supplier accounted for of total purchases for 38% of total purchase for the three-month period ended December 31, 2019. The Company's two largest suppliers accounted for 32% and 11% of the total purchase for the six-month period ended December 31, 2019.

As of December 31, 2020 the Company had two suppliers that represent 44% and 13% of the total accounts payable balance. As of June 30, 2020 the Company had three suppliers that represent approximately 38%, 12% and 11% of the total accounts payable balance.

Foreign Sales

Domestic and international sales from continuing operations are as follows:


( in thousands)	For the Three Months Ended December 31,								For the Six Months Ended December 31,
	2020				2019				2020				2019
Domestic	$	1,865	64.4	%	$	1,590	58.0	%	$	3,408	64.2	%	$	3,056	60.8	%
Foreign	1,033		35.6	%	1,150		42.0	%	1,904		35.8	%	1,972		39.2	%
Total	$	2,898	100.0	%	$	2,740	100.0	%	$	5,312	100.0	%	$	5,028	100.0	%