|3 Months Ended|
Jan. 31, 2020
|Risks and Uncertainties [Abstract]|
NOTE 10 – CONCENTRATIONS
During the three months ended January 31, 2020, the Company had two customers from whom it generated sales greater than 10% of net revenues. Revenues from these customers was $2,710,008, or 41% of net revenues during the period. Total accounts receivable from these customers at January 31, 2020 was $1,817,725 or 44% of accounts receivable.
During the three months ended January 31, 2019, the Company had two customers from whom it generated sales greater than 10% of net revenues. Revenue from these customers was $2,616,171, or 45% of net revenues during the period. Total accounts receivable from these customers at January 31, 2019 was $990,039 or 22% of accounts receivable.
The Services Segment business model is such that it works with a small number of Prime Defense Contractors and therefore the concentrations discussed above are a consequence of this and typical in this type of business.
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