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Note 2 - Concentrations of Credit Risk

3 Months Ended

Jan. 31, 2024

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

Note 2 – 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, 2024, we had cash and cash equivalent balances in excess of federally insured limits in the amount of approximately $3.7 million.

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

		Three Months Ended January 31,
		2024				2023
Wireless provider			-				15	%

For the three months ended January 31, 2024, no customers accounted for 10% or more of net sales. 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, 2024, we had two distributor customers whose sales were less than 10% of our net sales but for which we had 10% each of total net accounts receivable balance for both customers; for the three months ended January 31, 2023, both customers accounted for less than 10% of net sales and 7% each 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.