Concentration of Credit Risk
|3 Months Ended|
Jul. 31, 2016
|Risks and Uncertainties [Abstract]|
|Concentration of Credit Risk||
Note 7: Concentration of Credit Risk
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company maintains its cash in financial institutions. To the extent that such deposits exceed the maximum insurance levels, they are uninsured. The Company performs ongoing evaluations of its customers financial condition, as well as general economic conditions and, generally, requires no collateral from its customers. At July 31, 2016 amounts due from three customers totaled approximately 16%, 13% and 10%, of accounts receivable. At April 30, 2016, amounts due from one customer totaled approximately 15%.
In the fiscal quarter ended July 31, 2016 the Company had sales to one customer that totaled 27%. For the comparable prior year period ended July 31, 2015 we had sales to four customers that were over 10% of revenues. Two customers were approximately 13% each, the third customer was approximately 14% and the fourth customer was approximately 16% of revenues.
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.
Reference 1: http://www.xbrl.org/2003/role/presentationRef