XML 23 R15.htm IDEA: XBRL DOCUMENT v3.22.4
ECONOMIC DEPENDENCY (restated)
9 Months Ended
Jul. 31, 2021
Risks and Uncertainties [Abstract]  
ECONOMIC DEPENDENCY (restated)

NOTE 9 - ECONOMIC DEPENDENCY (restated) :

 

Approximately 21% and 23% of the Company’s sales were derived from six customers during the three and nine months ended July 31, 2021, respectively. These customers also accounted for approximately $1,297,343 of the Company’s accounts receivable balance at July 31, 2021. Approximately 23% and 27% of the Company’s sales were derived from six customers during the three and nine months ended July 31, 2020, respectively. These customers also accounted for approximately $1,907,000 of the Company’s accounts receivable balance at July 31, 2020. 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.

 

Approximately 50% and 34% of the Company’s purchases were from six vendors for the three and nine months ended July 31, 2021, respectively. These vendors accounted for approximately $718,000 of the Company’s accounts payable at July 31, 2021. Approximately 27% and 29% of the Company’s purchases were from six vendors for the three and nine months ended July 31, 2020, respectively. These vendors accounted for approximately $508,000 of the Company’s accounts payable at July 31, 2020. 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.