NOTE 6 – MAJOR CUSTOMERS

During the three and six months ended December 31, 2024, revenues from Daimler Financial Services (“DFS”) were $3,042,849 and $6,260,390, respectively representing 19.6% and 20.8%, respectively of revenues. During the three and six months ended December 31, 2024, revenues from BMW Financial (“BMW”) were $3,116,086 and $5,588,787, respectively representing 20.1% and 18.5%, respectively of revenues. During the three and six months ended December 31, 2023, revenues from DFS were $3,945,061 and $7,632,692, representing 25.9% of revenues. During the three and six months ended December 31, 2023, revenues from BMW were $699,966 and $1,109,955, respectively representing 4.6% and 6.0%, respectively of revenues. The revenues from DFS are shown in the Asia – Pacific segment. The revenues from BMW are shown in the Asia – Pacific and North America segments.

Accounts receivable from DFS and BMW at December 31, 2024, were $368,862 and $107,716, respectively. Accounts receivable from DFS and BMW at June 30, 2024, were $538,648 and $505,875, respectively. Revenues in excess of billings at December 31, 2024, were $761,367 and $1,375,671, respectively. Revenues in excess of billings at June 30, 2024, were $892,109 and $1,419,997, respectively.