NOTE 12 — CONCENTRATIONS

Credit Risk — The Company maintains its cash and cash equivalents balances at various large financial institutions that, at times, may exceed federally and internationally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk.

Customers — Sales to one customer, the Southern Glazer’s Wine & Spirits (“SWS”) family of companies, accounted for approximately 42.3% and 34.5% of the Company’s net sales for the three months ended December 31, 2016 and 2015, respectively. Sales to SWS accounted for approximately 37.1% and 37.9% of the Company’s revenues for the nine months ended December 31, 2016 and 2015, respectively, and approximately 38.2% and 33.0% of accounts receivable at December 31 and March 31, 2016, respectively.