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% during the three-month period ended March 31, 2022. One customer accounted for 12% of net sales during the nine months ended March 31, 2022. No customer accounted for more than 10% during the three-month period ended March 31, 2021 and one customer accounted for 14% of net sales during the nine-month period ended March 31, 2021.

As of March 31, 2022 the Company had one customer that represented 10% of the total accounts receivable balance. As of June 30, 2021 the Company had one customer that represents 23% of the total accounts receivable balance.

Major Supplier

The Company's two largest supplier accounted for 37% and 16% of the total purchase for the three-month period ended March 31, 2022. The Company's two largest suppliers accounted for 39% and 13% of the total purchase for the nine-month period ended March 31, 2022. The Company's two largest suppliers accounted for of total purchases for 45% and 17% of total purchase for the three-month period ended March 31, 2021.The Company's two largest suppliers accounted for of total purchases for 40% and 14% of total purchase for the nine-month period ended March 31, 2021.

As of March 31, 2022 the Company had one supplier that represented 39% of the total accounts payable balance. As of June 30, 2021 the Company had two suppliers that represent approximately 39% and 12% of the total accounts payable balance.

Disaggregated Revenue

Domestic and international sales from operations are as follows:


( in thousands)	For the Three Months Ended March 31,								For the Nine Months Ended March 31,
	2022				2021				2022				2021
Domestic	$	1,266	52.4	%	$	1,107	47.6	%	4,251		54.6	%	$	4,514	59.1	%
Foreign	1,150		47.6	%	1,218		52.4	%	3,541		45.4	%	3,123		40.9	%
Total	$	2,416	100.0	%	$	2,325	100.0	%	$	7,792	100	%	$	7,637	100	%