|3 Months Ended|
Jan. 31, 2022
|Risks and Uncertainties [Abstract]|
NOTE 10 – CONCENTRATIONS
During the three months ended January 31, 31, 2022, the Company had two customers from whom it generated sales greater than 10% of net revenues. Revenue from these customers was $1,855,731, or 32% of net revenues during the period. Receivables from these customers was less than 10% of net receivables as of January 31, 2022.
During the three months ended January 31, 2021, the Company had two customers from whom it generated sales greater than 10% of net revenues. Revenues from these customers was $1,303,807, or 26% of net revenues during the year. Total accounts receivable from these customers as of January 31, 2021 was $862,850 or 46% of accounts receivable.
CODA OCTOPUS GROUP, INC.
Notes to the Consolidated Financial Statements
January 31, 2022 and October 31, 2021
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://fasb.org/us-gaap/role/ref/legacyRef