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CONCENTRATION OF RISK

12 Months Ended

Mar. 31, 2024

CONCENTRATION OF RISK

CONCENTRATION OF RISK

NOTE 8 - CONCENTRATION OF RISK

We maintain bank account balances, which, at times, may exceed insured limits. We have not experienced any losses with these accounts and believe that we are not exposed to any significant credit risk on cash.

In the fiscal years ended March 31, 2024 and 2023, one supplier accounted for 20% and 34%, respectively, of our purchased material.

On March 31, 2024, there were trade accounts receivable balances outstanding from two customers comprising 58% of the total trade receivables balance. The following table sets forth information as to trade accounts receivable from customers who accounted for more than 10% of our accounts receivable balance as of:

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	March 31, 2024				​	March 31, 2023
Customer		Dollars			Percent		Dollars			Percent
A	​	$	940,279	​	40	%	$	730,514	​	31	%
B	​	$	*	​	*	%	$	260,177	​	11	%
C	​	$	423,198	​	18	%	$	*	​	*	%
D	​	$	*	​	*	%	$	265,755	​	11	%

*less than 10% of total

X

- 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

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X

- References

No definition available.

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