Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Concentrations

v3.8.0.1
Note 7 - Concentrations
 6 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]
NOTE
7
- CONCENTRATIONS
 
Credit Risk
 
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of temporary cash investments and unsecured trade accounts receivable. The Company maintains cash balances at a financial institution in San Diego, California. Our cash balance at this institution is secured by the Federal Deposit Insurance Corporation up to
$250,000.
The Company has
not
experienced any losses in such accounts. Management believes that the Company is
not
exposed to any significant credit risk with respect to its cash.
 
Customer Concentrations
 
During the
three
months ended
December 31, 2017,
we had
three
major customers that each represented more than
10%
of our revenues on an individual basis, or approximately
94%
in the aggregate. During the
six
months ended
December 31, 2017,
we had
three
major customers that each represented more than
10%
of our revenues on an individual basis, or approximately
89%
in the aggregate.
 
During the
three
months ended
December 31, 2016,
we had
two
major customers that each represented more than
10%
of our revenues on an individual basis, or approximately
78%
in the aggregate. During the
six
months ended
December 31, 2016,
we had
three
major customers that each represented more than
10%
of our revenues on an individual basis, or approximately
67%
in the aggregate.
 
 
Suppliers/Vendor Concentrations
 
We obtain a limited number of components and supplies included in our products from a small group of suppliers. During the
three
and
six
months ended
December 31,
2017
we had
three
suppliers who accounted for more than
10%
of our total inventory purchases on an individual basis or approximately
55%
and
48%,
respectively, in the aggregate.
 
During the
three
and
six
months ended
December 31, 2016
we had
three
suppliers who accounted for more than
10%
of our total inventory purchases on an individual basis or approximately
59%
and
63%,
respectively, in the aggregate.