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MAJOR CUSTOMERS & SUPPLIERS | 12 Months Ended
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Jun. 30, 2022
Risks and Uncertainties [Abstract] |
MAJOR CUSTOMERS & SUPPLIERS |
| 12. | MAJOR CUSTOMERS & SUPPLIERS
Customers that accounted for more than 10% of our total sales in either of fiscal year 2022 or 2021, is as follows (in thousands, except percentages):
Schedule of sales by major customers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2022 |  |  | 2022 |
|  | Amount |  |  | Percent of Total |  |  | Amount |  |  | Percent of Total |
Net sales |  | $ | 42,041 |  |  |  | 100 | % |  | $ | 38,029 |  |  |  | 100 | %
Customer concentration: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer 1 |  | $ | 27,686 |  |  |  | 66 | % |  | $ | 22,163 |  |  |  | 58 | %
Customer 2 |  |  | 5,788 |  |  |  | 14 | % |  |  | 10,122 |  |  |  | 27 | %
Total |  | $ | 33,474 |  |  |  | 80 | % |  | $ | 32,285 |  |  |  | 85 | %
Information with respect to accounts receivable from those customers who comprised more than 10% of our gross accounts receivable at either June 30, 2022 or June 30, 2021 is as follows (in thousands, except percentages):
Schedule of accounts receivable, inventory purchases and accounts payable of major customers and suppliers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30, 2022 |  |  | June 30, 2021 |
Total gross accounts receivable |  | $ | 15,384 |  |  |  | 100 | % |  | $ | 10,935 |  |  |  | 100 | %
Customer concentration: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer 1 |  | $ | 11,551 |  |  |  | 75 | % |  | $ | 6,666 |  |  |  | 61 | %
Customer 2 |  |  | 2,152 |  |  |  | 14 | % |  |  | 3,710 |  |  |  | 34 | %
Total |  | $ | 13,703 |  |  |  | 89 | % |  | $ | 10,376 |  |  |  | 95 | %
During fiscal 2022 and 2021, we had between two and four suppliers that accounted for more than 10% of total inventory purchases, as follows (in thousands, except percentages):
|  | June 30, 2022 |  |  | June 30, 2021 |
Total inventory purchases |  | $ | 19,640 |  |  |  | 100 | % |  | $ | 13,844 |  |  |  | 100 | %
Supplier concentration: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Supplier 1 |  | $ | 2,735 |  |  |  | 14 | % |  | $ | 2,238 |  |  |  | 16 | %
Supplier 2 |  |  | 2,335 |  |  |  | 12 | % |  |  | 2,159 |  |  |  | 16 | %
Supplier 3 |  |  | 2,199 |  |  |  | 11 | % |  |  | 1,318 |  |  |  | 9 | %
Supplier 4 |  |  | 2,587 |  |  |  | 13 | % |  |  | 856 |  |  |  | 6 | %
Total |  | $ | 9,856 |  |  |  | 50 | % |  | $ | 6,571 |  |  |  | 47 | %
Information with respect to accounts payable due to those suppliers who comprised more than 10% of our accounts payable at either June 30, 2022 or June 30, 2021 is as follows (in thousands, except percentages):
|  | June 30, 2022 |  |  | June 30, 2021 |
Total accounts payable |  | $ | 3,761 |  |  |  | 100 | % |  | $ | 2,288 |  |  |  | 100 | %
Supplier concentration: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Supplier 1 |  | $ | 721 |  |  |  | 19 | % |  | $ | 225 |  |  |  | 10 | %
Supplier 4 |  |  | 430 |  |  |  | 11 | % |  |  | 153 |  |  |  | 7 | %
Supplier 2 |  |  | 372 |  |  |  | 10 | % |  |  | 206 |  |  |  | 9 | %
Total |  | $ | 1,523 |  |  |  | 40 | % |  | $ | 584 |  |  |  | 26 | %

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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 https://asc.fasb.org/topic&trid=2134479 + Details
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- References No definition available. + Details
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