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MAJOR CUSTOMERS AND SUPPLIERS

9 Months Ended

Mar. 31, 2023

Risks and Uncertainties [Abstract]

MAJOR CUSTOMERS AND SUPPLIERS

NOTE 9. MAJOR CUSTOMERS AND SUPPLIERS

Information with respect to customers that accounted for sales in excess of 10% of our total sales in either of the three-month and the nine-month periods ended March 31, 2023 and 2022, is as follows (in thousands, except percentages):

Schedule of sales by major customers
		Three Months Ended March 31,
		2023								2022
		Amount				Percent of Total				Amount				Percent of Total
Net sales		$	13,079				100	%		$	9,265				100	%
Customer concentration:
Customer 1		$	8,622				66	%		$	5,007				54	%
Customer 2			2,059				16	%			2,429				26	%
Total		$	10,681				82	%		$	7,436				80	%

		Nine Months Ended March 31,
		2023								2022
		Amount				Percent of Total				Amount				Percent of Total
Net sales		$	35,448				100	%		$	29,426				100	%
Customer concentration:
Customer 1		$	23,578				66	%		$	18,721				63	%
Customer 2			5,912				17	%			4,617				16	%
Total		$	29,490				83	%		$	23,338				79	%

Information with respect to accounts receivable from those customers who comprised more than 10% of our gross accounts receivable at either March 31, 2023 or June 30, 2022, is as follows (in thousands, except percentages):

Schedule of accounts receivable
		March 31, 2023								June 30, 2022
Total gross accounts receivable		$	10,567				100	%		$	15,384				100	%
Customer concentration:
Customer 1		$	7,861				74	%		$	11,551				75	%
Customer 2			2,100				20	%			2,152				14	%
Total.		$	9,961				94	%		$	13,703				89	%

During the three and nine months ended March 31, 2023, we had two and three suppliers, respectively, accounting for 10% or more of total inventory purchases. During the three and nine months ended March 31, 2022, we had three and four suppliers, respectively, accounting for 10% or more of total inventory purchases. Amounts owed to the significant suppliers who comprised more than 10% of total accounts payable at either March 31, 2023 or June 30, 2022, is as follows (in thousands, except percentages).

Schedule of accounts payable
		March 31, 2023								June 30, 2022
Total accounts payable		$	3,068				100	%		$	3,761				100	%
Supplier concentration:
Supplier 1		$	1,240				40	%		$	721				19	%
Supplier 2			106				4	%			430				11	%
Supplier 3			14				—	%			372				10	%
Total.		$	1,360				44	%		$	1,523				40	%

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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

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- References

No definition available.

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