11.    Concentrations of Risk

The Company’s revenues are concentrated in a small group of customers with some individually having more than 10%of total revenues.

Revenues from three customers that exceeded 10% of total revenues for the period ended June 30, 2021 were 28%, 24%, and 16%. The accounts receivable from the top three customers were  13%, 0%, and 44% as well as 25% from one other customer of the total accounts receivable as of June 30, 2021.  

Revenues from three customers that exceeded 10% of total revenues for the period ended June 30, 2020 were 23%,27% and 39%. The accounts receivable from the four customers were 59%, 13%, 12%, and 11% as of June 30, 2020.

The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash. Cash balances are maintained principally at major U.S. financial institutions and are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to regulatory limits. From time to time, cash balances may exceed the FDIC insurance limit. The Company has not experienced any credit losses associated with its cash balances in the past.

​