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CUSTOMER CONCENTRATIONS AND FOREIGN SALES

9 Months Ended

Nov. 30, 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

		Nine Months Ended November 30,								Three Months Ended November 30,
		2024				2023				2024				2023
Asia Pacific (APAC)		$	1,994,000			$	1,790,000			$	1,114,000			$	681,000
Europe, Middle East, Asia (EMEA)			3,338,000				3,057,000				957,000				1,476,000
Latin America			642,000				1,097,000				297,000				112,000
		$	5,974,000			$	5,944,000			$	2,368,000			$	2,269,000

In the first nine months of fiscal 2025 and fiscal 2024, sales to foreign customers accounted for approximately $5,974,000 and $5,944,000, or 39% and 40%, respectively, of total revenues.

During the third quarter of fiscal 2025 and fiscal 2024, sales to foreign customers accounted for approximately $2,368,000 and $2,269,000, or 46% and 40%, respectively, of total revenues.

The Company had one customer which accounted for 14% of sales during the first nine months of fiscal 2025. The Company had one customer which accounted for 23% of sales during the third quarter of fiscal 2025. Three customers accounted for 50% of the outstanding accounts receivables at November 30, 2024.

The Company had no customers which accounted for 10% of sales during the first nine months of fiscal 2024. The Company had one customer which accounted for 13% of sales during the third 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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