Concentration of Credit Risk and Significant Customers

9 Months Ended

Dec. 31, 2021

Concentration of Credit Risk and Significant Customers

The Company manages its credit risk associated with exposure to distributors and direct customers on outstanding accounts receivable through the application of credit approvals and other monitoring procedures. Credit sales, which are mainly on credit terms of 30 to 60 days, are only made to customers who meet the Company's credit standards, while sales to new customers or customers with low credit ratings are usually made on an advance payment basis. The Company closely monitors the aging of accounts receivable from its distributors and direct customers, and regularly reviews their financial positions, where available.

Significant customers are those that represent 10% or more of revenue or accounts receivable and are set forth in the following table:


			Accounts Receivable As of
			December 31, 2021	March 31, 2021
Customer A			15.3%	31.1%
Customer B			21.1%	33.9%
Customer C			39.7%	*
Customer D			*	10.0%

	Revenue for the Three Months Ended December 31,		Revenue for the Nine Months Ended December 31,
	2021	2020	2021	2020
Customer A	10.9%	23.8%	49.8%	62.6%
Customer B	21.3%	43.9%	15.7%	26.6%
Customer C	41.2%	*	16.1%	*
Customer D	*	*	*	*

* Less than 10% of total

Customer A is a related party and Customer B is a government agency. JCP Capital Management, LLC is a majority stockholder of Customer C. See Note 7 - Investment in AFSW and Note 11 - Related Party Transactions.