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Note 3 - Concentrations of Credit Risk | 9 Months Ended
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Jul. 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 July 31, 2023, we had cash and cash equivalent balances in excess of federally insured limits in the amount of approximately $2.9 million. Sales from each customer that were 10% or greater of net sales were as follows:
|  | Three Months Ended July 31, |  |  | Nine Months Ended July 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Wireless provider |  |  | * |  |  |  | 16 | % |  |  | 13 | % |  |  | 23 | %
Distributor A |  |  | 12 | % |  |  | * |  |  |  | * |  |  |  | * |
For the three months ended July 31, 2023, a distributor customer accounted for 12% of net sales and 12% of total net accounts receivable balance, and a wireless carrier customer accounted for less than 10% of net sales. For the nine months ended July 31, 2023, the same wireless carrier customer accounted for 13% of net sales and 4% of total net accounts receivable balance; for the three months ended July 31, 2022, it accounted for 16% of net sales and 19% of total net accounts receivable balance; for the nine months ended July 31, 2022, it accounted for 23% of net sales and 19% of total net accounts receivable balance. We also have another distributor customer whose sales were less than 10% of our net sales but for which we had an 11% of total net accounts receivable balance for both the three and nine months ended July 31,2023; for the three and nine months ended July 31, 2022, it accounted for 5% of total net account receivable balance. Although these customers have been significant customers of the Company, the written agreements with these customers do not have any minimum purchase obligations and these customers could stop buying our products at any time and for any reason. A reduction, delay or cancellation of orders from these customers or the loss of these customers could significantly reduce our future revenues and profits.

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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 -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent + Details
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