NOTE 6 – MAJOR CUSTOMERS

During the three months ended September 30, 2021, revenues from Daimler Financial Services (“DFS”) and BMW Financial (“BMW”) were $3,542,284 and $891,679, respectively representing 26.4% and 6.6%, respectively of revenues. During the three months ended September 30, 2020 revenues from these two customers were $2,598,652 and $2,485,229, respectively representing 20.6% and 19.7%, respectively of revenues. The revenue from these customers are shown in the Asia – Pacific segment.

Accounts receivable from DFS and BMW at September 30, 2021, were $1,198,049 and $189,964, respectively. Accounts receivable at June 30, 2021, were $462,861 and $35,063, respectively. Revenues in excess of billings at September 30, 2021 were $2,987,736 and $5,158,269 for DFS and BMW, respectively. Revenues in excess of billings at June 30, 2021, were $2,041,750 and $4,453,299 for DFS and BMW, respectively.