Quarterly report pursuant to Section 13 or 15(d)

Concentration of Credit Risk

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.