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Concentrations
3 Months Ended
Dec. 31, 2019
Risks and Uncertainties [Abstract]  
Concentrations

(9) Concentrations.

 

Market: The Company primarily serves customers in the petroleum industry in the Southeastern U.S. Significant economic disruption or downturn in this geographic region or within these industries could have an adverse effect on our financial statements.

 

Customers: During the first three months of fiscal 2020, the Company’s ten largest customers accounted for approximately 63.9% of our revenue and one of these customers accounted for 20.4% of our revenue. Accounts receivable from the ten largest customers was $3,697,000 and $4,264,000 at December 31, 2019 and September 30, 2019 respectively. The loss of any one of these customers could have a material adverse effect on the Company’s revenues and income.

 

Deposits: Cash and cash equivalents are comprised of cash at Wells Fargo Bank, N.A.  The balances may exceed FDIC limits.