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MAJOR CUSTOMERS | 6 Months Ended
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Dec. 31, 2022
Risks and Uncertainties [Abstract] |
MAJOR CUSTOMERS | NOTE 6 – MAJOR CUSTOMERS During the six months ended December 31, 2022, revenues from Daimler Financial Services (“DFS”) and BMW Financial (“BMW”) were $7,069,884, and $2,314,744, respectively representing 28.2% and 9.2%, respectively of revenues. During the six months ended December 31, 2021, revenues from Daimler Financial Services (“DFS”) and BMW Financial (“BMW”) were $11,421,688 and $1,531,588, respectively representing 39.5% and 5.3%, respectively of revenues. The revenue from these customers is shown in the Asia – Pacific segment. Accounts receivable from DFS and BMW at December 31, 2022, were $357,164 and $360,703, respectively. Accounts receivable at June 30, 2022, were $2,005,463 and $2,498,645, respectively. Revenues in excess of billings at December 31, 2022 were $3,535,799 and $2,252,994 for DFS and BMW, respectively. Revenues in excess of billings at June 30, 2022, were $365,863 and $2,199,381 for DFS and BMW, respectively.

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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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