Customer and Supplier Concentrations
|3 Months Ended|
Sep. 30, 2019
|Risks and Uncertainties [Abstract]|
|Customer and Supplier Concentrations||
CUSTOMER AND SUPPLIER CONCENTRATIONS
Customers providing 10 percent or more of the Company's revenues for the three months ended September 30, 2019 are presented on a comparative basis, with their corresponding balances for the three months ended September 30, 2018 in the table below:
Customers providing 10 percent or more of the Company's accounts receivable as of September 30, 2019 are presented on a comparative basis, with their corresponding balances as of June 30, 2019, in the table below:
The loss of any of the above listed customers could have a material adverse effect on the operations of the Company.
The Company buys precious metals from a variety of sources, including through brokers and dealers, from sovereign and private mints, from refiners and directly from customers. The Company believes that no one or small group of suppliers is critical to its business, since other sources of supply are available that provide similar products on comparable terms.
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef