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Business and Credit Concentrations | 3 Months Ended
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Sep. 30, 2019
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 24% and 19% of the Company’s accounts receivable at September 30, 2019 and June 30, 2019, respectively. Sales to this customer comprised 13% and 10% of net sales in the three months ended September 30, 2019 and 2018, respectively. The Company had another customer with an accounts receivable balance that comprised 11% of the Company’s accounts receivable at September 30, 2019 and June 30, 2019. Sales to this customer did not exceed 10% of net sales in either of the three months ended September 30, 2019 or 2018.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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