Concentration of credit risk (Notes)

12 Months Ended

Jun. 30, 2022

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 approximately 11% of net sales during the year ended June 30, 2022. One customer accounted for approximately 15% of net sales during the year ended June 30, 2021.

As of June 30, 2022 the Company had one customer that represents approximately 13% of the total accounts receivable balance. As of June 30, 2021 the Company had one customer that represents approximately 23% of the total accounts receivable balance.

Major Supplier

The Company's two largest suppliers accounted for 39% and 12% of the total purchases for the year ended June 30, 2022. The Company's two largest suppliers accounted for the total purchases for 40% and 10% of total purchases for the year ended June 30, 2021. As of June 30, 2022 the Company had one supplier that represent approximately 36% of the total accounts payable balance. As of June 30, 2021 the Company had two customer that represents 39% and 12% of the total accounts payable balance.

Foreign Sales

Domestic and international sales from continuing operations are as follows:


(in thousands)	For the Years Ended June 30,
		2022	2021
Domestic			$	5,720	53.4	%	$	6,255	59.7	%
Foreign			4,983		46.6	%	4,217		40.3	%
Total			$	10,703	100.0	%	$	10,472	100.0	%