Concentration of Credit Risk
|9 Months Ended|
Jan. 31, 2017
|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 January 31, 2017 amounts due from three customers totaled approximately 29%, 28% and 11%, of accounts receivable. At April 30, 2016, amounts due from one customer totaled approximately 15%.
For the three months ended January 31, 2017 the Company had sales to two customers that totaled over 10% of revenues. These shipments were approximately 28% and 17% of revenues. For the nine months ended January 31, 2017, sales to two customers totaled approximately 32% and 10% of revenues. For the three months ended January 31, 2016, sales to two customers were approximately 28% and 14% of total revenues. For the nine months ended January 31, 2016, the Company had sales to two customers that totaled approximately 21% and 14% of total 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