Concentrations |
3 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Concentrations | |
| Concentrations | Concentrations The Company is primarily a distributor of safety products for use in home and business under both its trade names and private labels for other companies. The Company acquires all of the smoke alarm and carbon monoxide alarm safety products that it sells from Eyston Company, Ltd. The Company had four customers in the three-month period ended June 30, 2025, that represented 16.5%, 15.4%, 12.8%, and 10.1% of the Company’s net sales, respectively. In addition, the Company had two customers that represented 19.1%, and 12.5% of the Company’s total trade accounts receivable at June 30, 2025. The Company did not have any customers that exceeded ten percent of sales for the three-month period ended June 30, 2024. The Company had three customers that represented 13.2%, 10.4%, and 10.3% of the Company’s total trade accounts receivable at June 30, 2024. Related Party Transactions During the three-month periods ended June 30, 2025, and 2024, inventory purchases and other company expenses of approximately $83,000 and $560,000 respectively, were charged to credit card accounts of Harvey B. Grossblatt, the Company’s Chief Executive Officer and certain of his immediate family members. The Company subsequently reimbursed these charges in full. Mr. Grossblatt receives mileage benefits from these charges. The maximum amount outstanding and due to Mr. Grossblatt at any point during the three-month periods ended June 30, 2025, and 2024, amounted to $13,298 and $285,333, respectively. Receivables Receivables are recorded when the Company has an unconditional right to consideration. We have established a provision for credit losses based upon historical experience and the consideration of current and future economic conditions. |