NOTE 13 - MAJOR CUSTOMERS AND SUPPLIERS
Five major customers accounted for approximately 13.5% of the net revenue for the quarter ended August 31, 2011, with each customer individually accounting for from 2% to 4% of the net revenue.
At August 31, 2011, the total receivable balance due from these five customers was $329,408, representing 13% of total accounts receivable.
Five major vendors provided approximately 10.7% of the Companys purchases of raw materials for the period ended August 31, 2011, with each vendor individually accounting for from 2% to 4% of the total purchase. The advance to one of the vendors was in the amount of $559,947 at August 31, 2011.
Five vendors provided 32.2% of the Companys purchase of raw materials for the quarter ended August 31, 2010. The Companys advance to one of these vendors was $772,794 at August 31, 2010.