MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE	9 Months Ended
Jul. 31, 2020
Risks and Uncertainties [Abstract]
MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE	NOTE 4 – MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE Bare Metal Standard has unrelated customers and one related party customer, whose revenue, during the three and nine months ended July 31, 2020 and 2019 represented in excess of 10% of the total revenue and in excess of 10% of total accounts receivable. Concentration of revenue and related party revenue During the three months ended July 31, 2020, Bare Metal Standard invoiced royalties and sold product and services, including freight, totaling $151,579 or 70% of total revenue to one related company, Taylor Brothers, Inc. (a company with common officers and shareholders) and had five non-related parties that accounted for 35%, 19%, 17%, 14%, and 10% of non-related party revenue. One non-related party through the Taylor Brothers revenue represents approximately 61% of related party revenue for the three months ended July 31, 2020. During the nine months ended July 31, 2020, Bare Metal Standard invoiced royalties and sold product and services, including freight, totaling $412,826 or 60% of total revenue to one related company, Taylor Brothers, Inc. and had five non-related parties that accounted for 38%, 15%, 15%, 15%, and 13% of non-related party revenue. One non-related party through the Taylor Brothers revenue represents approximately 45% of related party revenue for the nine months ended July 31, 2020. During the three months ended July 31, 2019, Bare Metal Standard invoiced royalties and sold product and services, including freight, totaling $130,770 or 54% of total revenue to one related company, Taylor Brothers, Inc. and had five non-related parties that accounted for 42%, 16%, 14%, 14%, and 12% of non-related party revenue. One non-related party through the Taylor Brothers revenue represents approximately 41% of related party revenue for the three months ended July 31, 2019. During the nine months ended July 31, 2019, Bare Metal Standard invoiced royalties and sold product and services, including freight, totaling $489,153 or 58% of total revenue to one related company, Taylor Brothers, Inc. and had five non-related parties that accounted for 38%, 15%, 13%, 11% and 10% of non-related party revenue. One non-related party through the Taylor Brothers revenue represents approximately 51% of related party revenue for the nine months ended July 31, 2019. Concentration of accounts receivable and related party accounts receivable- Receivables arising from sales of the Company's products are not collateralized. As of July 31, 2020, total accounts receivable was $139,798 of which $100,417 or 72% was owed by a related party, and five customers represented 27%, 25%, 18% and 15% of non-related party accounts receivable. As of October 31, 2019, total accounts receivable was $136,964 of which $86,319 or 63% was owed by a related party, and five customers represented 37%, 20%, 14%, 11% and 10% of non-related party accounts receivable.

MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE

9 Months Ended

Jul. 31, 2020

NOTE 4 – MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE

Bare Metal Standard has unrelated customers and one related party customer, whose revenue, during the three and nine months ended July 31, 2020 and 2019 represented in excess of 10% of the total revenue and in excess of 10% of total accounts receivable.

Concentration of revenue and related party revenue

During the three months ended July 31, 2020, Bare Metal Standard invoiced royalties and sold product and services, including freight, totaling $151,579 or 70% of total revenue to one related company, Taylor Brothers, Inc. (a company with common officers and shareholders) and had five non-related parties that accounted for 35%, 19%, 17%, 14%, and 10% of non-related party revenue. One non-related party through the Taylor Brothers revenue represents approximately 61% of related party revenue for the three months ended July 31, 2020. During the nine months ended July 31, 2020, Bare Metal Standard invoiced royalties and sold product and services, including freight, totaling $412,826 or 60% of total revenue to one related company, Taylor Brothers, Inc. and had five non-related parties that accounted for 38%, 15%, 15%, 15%, and 13% of non-related party revenue. One non-related party through the Taylor Brothers revenue represents approximately 45% of related party revenue for the nine months ended July 31, 2020.

During the three months ended July 31, 2019, Bare Metal Standard invoiced royalties and sold product and services, including freight, totaling $130,770 or 54% of total revenue to one related company, Taylor Brothers, Inc. and had five non-related parties that accounted for 42%, 16%, 14%, 14%, and 12% of non-related party revenue. One non-related party through the Taylor Brothers revenue represents approximately 41% of related party revenue for the three months ended July 31, 2019. During the nine months ended July 31, 2019, Bare Metal Standard invoiced royalties and sold product and services, including freight, totaling $489,153 or 58% of total revenue to one related company, Taylor Brothers, Inc. and had five non-related parties that accounted for 38%, 15%, 13%, 11% and 10% of non-related party revenue. One non-related party through the Taylor Brothers revenue represents approximately 51% of related party revenue for the nine months ended July 31, 2019.

Concentration of accounts receivable and related party accounts receivable-

Receivables arising from sales of the Company's products are not collateralized. As of July 31, 2020, total accounts receivable was $139,798 of which $100,417 or 72% was owed by a related party, and five customers represented 27%, 25%, 18% and 15% of non-related party accounts receivable. As of October 31, 2019, total accounts receivable was $136,964 of which $86,319 or 63% was owed by a related party, and five customers represented 37%, 20%, 14%, 11% and 10% of non-related party accounts receivable.

BARE METAL STANDARD INC. 10-Q