Note 9: Major Customers and Foreign Sales

12 Months Ended

Dec. 31, 2014

Notes

Note 9: Major Customers and Foreign Sales

Note 9:  Major Customers and Foreign Sales

During the four months ended December 31, 2014, we had sales to two foreign customers totaling 41.53% and 11.30% of total revenues.  During the year ended August 31, 2014, we had sales to two foreign customers totaling 23.46% and 22.92% of total revenues.  During the year ended August 31, 2013, we had sales to one customer totaling 30.36% of total revenues.  

Export sales were $630,857 in the four months ended December 31, 2014, and $3,381,563 and $1,470,619 in the years ended August 31 2014 and 2013, respectively.

                During the four months ended December 31, 2014, export sales to Germany and Belgium combined were approximately 53%.   During fiscal year 2014, export sales to Taiwan and Belgium combined were approximately 46% of total sales.  During fiscal year 2013, export sales to Belgium and Germany combined were approximately 30%.

As of December 31, 2014, the highest account receivable due from one customer was 36% of total accounts receivable.  As of August 31, 2014, the highest account receivable due from one customer was approximately 68% of total accounts receivable.  As of August 31, 2013, the highest account receivable due from one customer was approximately 72% of total accounts receivable.