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Concentrations of Credit Risk
12 Months Ended
Jun. 30, 2022
Risks and Uncertainties [Abstract]  
Concentrations of Credit Risk

16. Concentrations of Credit Risk

Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and accounts and trade receivables. The Company maintains its cash at large financial institutions. At June 30, 2022, bank deposits exceeded Federal Deposit Insurance Corporation insured limits. The Company believes that concentrations of credit risk with respect to trade receivables are limited due to the Company’s large customer base. Also, based on the Company’s credit evaluation, trade receivables are often collateralized by the equipment sold. No single customer or contract accounted for more than 10% of the Company’s revenues for fiscal 2022 or 2021. As of June 30, 2022, there were no accounts receivable due from any customer which accounted for greater than 10% of the Company’s accounts receivable.