Concentration of credit risk (Notes)

9 Months Ended

Mar. 31, 2021

Concentration Risk Disclosure [Text Block]

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

No customer accounted for more than 10% of net sales during the three months ended March 31, 2021. One customer accounted for 14% of net sales during nine months ended March 31, 2021. One customer accounted for 13% of net sales during the three-month period ended March 31, 2020. One customer accounted for 15% of net sales during the nine months ended March 31, 2020.

As of March 31, 2021 the Company had no customer that represents more than 10% 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 45% and 17% of the total purchase for the three-month period ended March 31, 2021. The Company's two largest suppliers accounted for 40% and 14% of the total purchase for the nine-month period ended March 31, 2021. The Company's two largest suppliers accounted for of total purchases for 38% and 18% of total purchase for the three-month period ended March 31, 2020. The Company's two largest suppliers accounted for 34% and 13% of the total purchase for the nine-month period ended March 31, 2020.

As of March 31, 2021 the Company had one supplier that represents 43% 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 March 31,								For the Nine Months Ended March 31,
	2021				2020				2021				2020
Domestic	$	1,107	47.6	%	$	1,440	61.1	%	$	4,514	59.1	%	$	4,496	60.9	%
Foreign	1,218		52.4	%	917		38.9	%	3,123		40.9	%	2,889		39.1	%
Total	$	2,325	100.0	%	$	2,357	100.0	%	$	7,637	100.0	%	$	7,385	100.0	%