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CUSTOMER CONCENTRATIONS AND FOREIGN SALES

6 Months Ended

Aug. 31, 2024

Risks and Uncertainties [Abstract]

CUSTOMER CONCENTRATIONS AND FOREIGN SALES

NOTE 8: CUSTOMER CONCENTRATIONS AND FOREIGN SALES

Export sales to customers located outside the United States and Canada were approximately as follows:

Schedule of Customer Concentrations and Foreign Sales

		Six Months Ended August 31,								Three Months Ended August 31,
		2024				2023				2024				2023
Asia Pacific (APAC)		$	880,000			$	1,109,000			$	368,000			$	538,000
Europe, Middle East, Asia (EMEA)			2,381,000				1,581,000				1,136,000				1,155,000
Latin America			345,000				985,000				163,000				747,000
		$	3,606,000			$	3,675,000			$	1,667,000			$	2,440,000

During the first half of fiscal 2025 and fiscal 2024, sales to foreign customers accounted for approximately $3,606,000 and $3,675,000, or 35% and 40%, respectively, of total revenues.

During the second quarter of fiscal 2025 and fiscal 2024, sales to foreign customers accounted for approximately $1,667,000 and $2,440,000, or 32% and 43%, respectively, of total revenues.

The Company had one customer which accounted for 21% of total sales during the first half of fiscal 2025. The Company had two customers which accounted for 38% of total sales during the second quarter of fiscal 2025. Three customers accounted for 65% of the outstanding accounts receivable at August 31, 2024.

The Company had one customer which accounted for 14% of total sales during the first half of fiscal 2024. The Company had one customer which accounted for 20% of total sales during the second quarter of fiscal 2024. Two customers accounted for 26% of the outstanding accounts receivable at February 29, 2024.

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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

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