NOTE 14 - CONCENTRATIONS AND CREDIT RISK

12 Months Ended

Apr. 30, 2020

Notes

NOTE 14 - CONCENTRATIONS AND CREDIT RISK

NOTE 14 – CONCENTRATIONS AND CREDIT RISK

(i)   Customer Concentrations

For fiscal years ended April 30, 2020 and 2019, customers accounting for 10% or more of the Company's revenues were as follows:

	Years Ended April 30,
Customer	2020	2019
A (1)	31.5%	21.2%

(1) Qufu Shengwang Import and Export Co., Ltd is a related party.

 (ii)    Vendor Concentrations

For fiscal years ended April 30, 2020 and 2019, suppliers accounting for 10% or more of the Company's purchases were as follows:

	Years Ended April 30,
Supplier	2020	2019
A	20.6%	*
B	10.6%	29.2%
C	20.5%	11.7%
*Less than 10%.

(iii)    Credit Risk

Financial instruments which potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. We place our cash and cash equivalents with high credit quality financial institutions in the United States and the PRC. As of April 30, 2020 and 2019, we had $1,054,090 and $205,693 of cash held in PRC banks. PRC banks protect consumers against loss if their bank or thrift institution fails, and each of our PRC bank account is insured up to RMB500,000 (approximately $71,000), As a result, cash held in PRC financial institutions of $946,274 is not insured. We have not experienced any losses in such accounts through April 30, 2020. Our cash position by geographic area was as follows:

Country:	April 30, 2020		April 30, 2019
United States	$83,830	7.4%	$88,506	30.1%
China	1,054,090	92.6%	205,693	69.9%
Total cash and cash equivalents	$1,137,920	100.00%	$294,199	100.00%

 Almost all of our sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, we believe that the concentration of credit risk with respect to trade accounts receivable is limited due to generally short payment terms. We also perform ongoing credit evaluations of our customers to help further reduce potential credit risk.