|12 Months Ended|
Jun. 30, 2019
|Risks and Uncertainties [Abstract]|
NOTE 6 – MAJOR CUSTOMERS
During the year ended June 30, 2019, revenues from two customers were $23,912,605 and $12,522,867 representing 35.3% and 18.5% of revenues. During the year ended June 30, 2018, revenues from one customer was $22,129,568 representing 36.3% or revenues. The revenue from these customers are shown in the Asia – Pacific segment.
Accounts receivable from the two customers at June 30, 2019, were $7,917,814 and $159,322, respectively. Accounts receivable at June 30, 2018, were $4,417,709 and $nil, respectively. Revenues in excess of billings at June 30, 2019, were $4,371,081 and $5,472,043, respectively. Revenues in excess of billings at June 30, 2018, were $12,508,815 and $nil, respectively. Included in this amount was $1,281,492 and $1,206,669 shown as long term at June 30, 2019 and 2018, respectively.
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef