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Note 3 - Concentrations of Credit Risk
 3 Months Ended
Jan. 31, 2023
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]

Note 3 – Concentrations of credit risk

 

Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We maintain our cash and cash equivalents with high-credit quality financial institutions. At January 31, 2023, we had cash and cash equivalent balances in excess of federally insured limits in the amount of approximately $2.6 million.

 

Sales from each customer that were 10% or greater of net sales were as follows:

 

   

Three Months Ended January 31,

  
   

2023

    

2022

  

Wireless provider

     15 %     32 %

 

For the three months ended January 31, 2023, one wireless carrier customer accounted for 15% of net sales and 16% of total net accounts receivable balance. For the three months ended January 31, 2022, one wireless carrier customer accounted for 32% of net sales and 37% of total net accounts receivable balance. Although this customer has been a significant customer of the Company, the written agreements with this customer do not have any minimum purchase obligations and this customer could stop buying our products at any time and for any reason. A reduction, delay or cancellation of orders from this customer or the loss of this customer could significantly reduce our future revenues and profits.