NOTE 10 – CONCENTRATIONS

Significant Customers

During the three months ended July 31, 2022, the Company had one customer from whom it generated sales greater than 10% of net revenues. Revenue from this customer was $660,750, or 10.5% of net revenues during the three months ended July 31, 2022. Receivables from this customer were $246,100, or 5.8% of net receivables as of July 31, 2022.

During the three months ended July 31, 2021, the Company had two customers from whom it generated sales greater than 10% of net revenues. Revenues from these customers were $1,474,464, or 25% of net revenues during the three months ended July 31, 2021. Receivables from these customers were $72,449 or 3.2% of net receivable as of July 31, 2021.

During the nine months ended July 31, 2022, the Company had one customer from whom it generated sales of 10% or more of net revenues. Revenues from this customer were $1,709,791, or 10% of net revenues during the nine months ended July 31, 2022. Receivables from this customer were $542,515 or 12.75% of net receivables as of July 31, 2022

During the nine months ended July 31, 2021, the Company had one customer from whom it generated sales of $1,588,172, or 10% of net revenues. Receivables from this customer were $72,449 or 3.2% of net receivables as of July 31, 2021.

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

July 31, 2022, and October 31, 2021