NOTE 13 - CONCENTRATIONS AND CREDIT RISK

6 Months Ended

Oct. 31, 2022

NOTE 13 - CONCENTRATIONS AND CREDIT RISK

NOTE 13 - CONCENTRATIONS AND CREDIT RISK

(i) Customer Concentrations

For the three and six months ended October 31, 2022 and 2021, customers accounting for 10% or more of the Company's revenue were as follows:

	For the three months ended October 31,		For the six months ended October 31,
Customer	2022	2021	2022	2021
A	44.4%	39.7%	47.7%	39.0%
B	-	18.5%	-	11.5%

(ii) Vendor Concentrations

For the three and six months ended October 31, 2022 and 2021, suppliers accounting for 10% or more of the Company's purchase were as follows:

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	For the three months ended October 31,		For the six months ended October 31,
Supplier	2022	2021	2022	2021
A	-	40.5%	29.3%	53.6%
B	-	-	-	13.6%
C	25.0%	-	-	-
D	20.6%	-	-	-
E	18.9%	-	-	-
F	14.6%	-	-	-

-Less than 10%.

(iii) Credit Risk

Financial instruments which potentially subject us to concentrations of credit risk consist principally of cash and trade accounts receivable. We place our cash with high credit quality financial institutions in the United States and the PRC. As of October 31, 2022 and April 30, 2022, we had $2,707,425 and $293,408 of cash balance held in PRC banks, respectively. PRC banks protect consumers against loss if their bank or thrift institution fails, and each of our PRC bank account is insured up to RMB500,000 (approximately $68,000). As a result, cash held in PRC financial institutions of $2,548,462 and $119,250 are not insured as of October 31, 2022 and April 30, 2022. We have not experienced any losses in such accounts through October 31, 2022. Our cash position by geographic area was as follows:

Country:	October 31, 2022		April 30, 2022
United States	$ 59,918	2.2%	$18,033	5.6%
China	2,714,108	97.8%	303,160	94.4%
Total cash and cash equivalents	$ 2,774,026	100.00%	$321,193	100.00%

Almost all of our sales are credit sales which are primarily to customers whose ability to pay is dependent upon the industry economics prevailing in these areas; however, we believe that the concentration of credit risk with respect to trade accounts receivable is limited due to generally short payment terms. We also perform ongoing credit evaluations of our customers to help further reduce potential credit risk.

SUNWIN STEVIA INTERNATIONAL, INC. 10-Q