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Concentrations
 12 Months Ended
Apr. 30, 2024
Risks and Uncertainties [Abstract]  
Concentrations

 

10. Concentrations

 

The Company maintains the majority of its cash balance in a financial institution in Kimball, Nebraska. Accounts at this institution are insured by the Federal Deposit Insurance Corporation for up to $250,000. For the years ended April 30, 2024 and 2023, the Company had uninsured balances of $6,494,000, and $4,530,000, respectively. Management believes that this financial institution is financially sound and the risk of loss is minimal.

 

Management also has cash funds with Wells Fargo Bank with uninsured balances of $151,000 and $56,000 for the years ending April 30, 2024 and 2023, respectively. Management believes that this financial institution is financially sound and the risk of loss is minimal.

 

The Company has sales to a security alarm distributor representing 37% of total sales for the year ended April 30, 2024 and 36% of total sales for the year ended April 30, 2023. This distributor accounted for 56% and 44% of accounts receivable at April 30, 2024 and 2023, respectively.

 

Security switch sales made up 90% of total sales for the fiscal year ending April 30, 2024 and 87% of total sales for the fiscal year ending April 30, 2023.