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Economic Dependency

6 Months Ended

Apr. 30, 2020

Risks and Uncertainties [Abstract]

Economic Dependency

NOTE 10 - ECONOMIC DEPENDENCY:

Approximately 24% of the Company’s sales were derived from six customers during the six months ended April 30, 2020. These customers also accounted for approximately $3,557,000 of the Company’s accounts receivable balance at April 30, 2020. Approximately 21% of the Company’s sales were derived from five customers during the six months ended April 30, 2019. These customers also accounted for approximately $2,030,000 of the Company’s accounts receivable balance at April 30, 2019. Concentration of credit risk with respect to other trade receivables is limited due to the short payment terms generally extended by the Company, by ongoing credit evaluations of customers, and by maintaining an allowance for doubtful accounts that management believes will adequately provide for credit losses.

For the six months ended April 30, 2020, approximately 27% of the Company’s purchases were from six vendors. These vendors accounted for approximately $971,000 of the Company’s accounts payable at April 30, 2020. For the six months ended April 30, 2019, approximately 28% of the Company’s purchases were from five vendors. These vendors accounted for approximately $322,000 of the Company’s accounts payable at April 30, 2019. Management does not believe the loss of any one vendor would have a material adverse effect of the Company’s operations due to the availability of many alternate suppliers.

For the three months ended April 30, 3030, approximately 24% of the Company’s sales were derived from six customers. Approximately 21% of the Company’s sales were derived from six customers during the three months ended April 30, 2019.

For the three months ended April 30, 2020, approximately 26% of the Company’s purchases were from six vendors. For the three months ended April 30, 2019, approximately 25% of the Company’s purchases were from six vendors.

The following table presents revenues by product line in the six and three months ended April 30, 2020 and 2019.

		Six Months Ended April 30, 2020				Three Months Ended April 30, 2020				Six Months Ended April 30, 2019				Three Months Ended April 30, 2019
Green		$	12,688,131			$	5,902,555			$	17,178,743			$	8,021,039
Packaged		$	26,693,246			$	14,193,321			$	27,171,556			$	12,695,452
Totals		$	39,381,377			$	20,095,876			$	44,350,299			$	20,716,491

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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 http://asc.fasb.org/topic&trid=2134479

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- References

No definition available.

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