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Concentrations
9 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Concentrations

 

NOTE 7 - Concentrations

 

The Company maintains its cash in bank and financial institution deposits that at times may exceed federally insured limits. The Company has not experienced any losses in such accounts through March 31, 2102. As of March 31, 2012, there were no cash equivalent balances held in depository accounts that are not insured.

 

At March 31, 2012, three customers accounted for 22.3%, 17.6% and 15.3% of accounts receivable.

 

For the nine months ended March 31, 2012 three customers accounted for approximately 20.6%, 17.8% and 17.7% of sales.

 

During the nine months ended March 31, 2012 all sales resulted from two products, FireIce® and Soil2O™ which made up 45.1% and 54.9%, respectively, of total sales. Of the FireIce® sales, 85.7% related to sales of FireIce product and 14.3% related to sales of the FireIce Home Defense units. Of the Soil2O™ sales, 88.1% related to Soil2O™ Dust Control and 11.9% related to traditional sales of Soil2O™.

 

Three vendors accounted for 57.1%, 11.0% and 10.2% of the Company’s approximately $299,000 of raw material and packaging purchases during the nine months ended March 31, 2012.