NOTE 6 – MAJOR CUSTOMERS

During the six months ended December 31, 2021, revenues from Daimler Financial Services (“DFS”) and BMW Financial (“BMW”) were $11,421,688 and $1,531,588, respectively representing 39.5% and 5.3%, respectively of revenues. During the six months ended December 31, 2020 revenues from these two customers were $5,402,152 and $3,051,244, respectively representing 21.0% and 11.8%, respectively of revenues. The revenue from these customers are shown in the Asia – Pacific segment.

Accounts receivable from DFS and BMW at December 31, 2021, were $1,163,468 and $1,601,071, respectively. Accounts receivable at June 30, 2021, were $462,861 and $35,063, respectively. Revenues in excess of billings at December 31, 2021 were $8,336,839 and $3,326,380 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.