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Economic Dependency
6 Months Ended
Apr. 30, 2021
Risks and Uncertainties [Abstract]  
Economic Dependency

NOTE 9 - ECONOMIC DEPENDENCY:

 

Approximately 23% and 24% of the Company’s sales were derived from six customers during the three and six months ended April 30, 2021, respectively. These customers also accounted for approximately $2,094,000 of the Company’s accounts receivable balance at April 30, 2021. Approximately 24% of the Company’s sales were derived from six customers during the three and six months ended April 30, 2020. These customers also accounted for approximately $3,557,000 of the Company’s accounts receivable balance at April 30, 2020. Concentration of credit risk with respect to other trade receivables is limited due to the short payment terms generally extended by the Company, by ongoing credit evaluations of customers, and by maintaining an allowance for doubtful accounts that management believes will adequately provide for credit losses.

 

Approximately 27% and 28% of the Company’s purchases were from six vendors for the three and six months ended April 30, 2021, respectively. These vendors accounted for approximately $386,000 of the Company’s accounts payable at April 30, 2021. Approximately 26% and 27% of the Company’s purchases were from six vendors for the three and six months ended April 30, 2020, respectively. These vendors accounted for approximately $971,000 of the Company’s accounts payable at April 30, 2020. Management does not believe the loss of any one vendor would have a material adverse effect of the Company’s operations due to the availability of many alternate suppliers.