Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.22.2.2
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
 3 Months Ended 9 Months Ended
Jul. 31, 2022
Apr. 30, 2022
Jan. 31, 2022
Jul. 31, 2021
Apr. 30, 2021
Jan. 31, 2021
Jul. 31, 2022
Jul. 31, 2021
Segment Reporting Information [Line Items]                
Net Revenues $ 6,267,409     $ 5,827,375     $ 17,090,455 $ 16,250,910
Cost of Revenues 1,704,765     1,614,966     5,336,171 4,973,975
Gross Profit 4,562,644     4,212,409     11,754,284 11,276,935
Research & Development 577,953     675,766     1,768,221 1,904,186
Selling, General & Administrative 1,960,978     2,213,821     6,116,085 5,824,046
Total Operating Expenses 2,538,931     2,889,587     7,884,306 7,728,232
INCOME FROM OPERATIONS 2,023,713     1,322,822     3,869,978 3,548,703
Other Income (Expense)                
Other Income 19,744     3,571     114,236 75,070
Funding from Paycheck Protection Program         648,872
Interest Expense     (6,145)     (2,902) (17,442)
Total Other Income (Expense) 19,744     (2,574)     111,334 706,500
INCOME BEFORE INCOME TAX EXPENSE 2,043,457     1,320,248     3,981,312 4,255,203
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (326,732)     418,329     (503,191) 753,017
Deferred Tax Benefit (Expense) 51,932     (217,491)     119,087 (150,357)
Total Income Tax (Expense) Benefit (274,800)     200,838     (384,104) 602,660
NET INCOME 1,768,657 $ 611,303 $ 1,217,248 1,521,086 $ 2,207,933 $ 1,128,844 3,597,208 4,857,863
Supplemental Disclosures                
Total Assets 47,203,976           47,203,976  
Total Liabilities 4,412,606           4,412,606  
Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Net Revenues 6,267,409     5,827,375     17,090,455 16,250,910
Cost of Revenues 1,704,765     1,614,966     5,336,171 4,973,975
Gross Profit 4,562,644     4,212,409     11,754,284 11,276,935
Research & Development 577,953     675,766     1,768,221 1,904,186
Selling, General & Administrative 1,960,978     2,213,821     6,116,085 5,824,046
Total Operating Expenses 2,538,931     2,889,587     7,884,306 7,728,232
INCOME FROM OPERATIONS 2,023,713     1,322,822     3,869,978 3,548,703
Other Income (Expense)                
Other Income 19,744     3,571     114,236 75,070
Funding from Paycheck Protection Program               648,872
Interest Expense     (6,145)     (2,902) (17,442)
Total Other Income (Expense) 19,744     (2,574)     111,334 706,500
INCOME BEFORE INCOME TAX EXPENSE 2,043,457     1,320,248     3,981,312 4,255,203
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (326,732)     418,329     (503,191) 753,017
Deferred Tax Benefit (Expense) 51,932     (217,491)     119,087 (150,357)
Total Income Tax (Expense) Benefit (274,800)     200,838     (384,104) 602,660
NET INCOME 1,768,657     1,521,086     3,597,208 4,857,863
Supplemental Disclosures                
Total Assets 47,203,976     44,363,219     47,203,976 44,363,219
Total Liabilities 4,412,606     3,384,211     4,412,606 3,384,211
Revenues from Intercompany Sales - eliminated from sales above 1,636,573     1,211,951     3,889,815 3,576,635
Depreciation and Amortization 208,821     227,645     652,762 827,509
Purchases of Long-lived Assets 54,409     239,437     1,195,885 838,626
Marine Technology Business Products [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Net Revenues 4,004,557     3,845,051     11,319,314 11,777,739
Cost of Revenues 532,248     545,243     1,920,573 2,462,219
Gross Profit 3,472,309     3,299,808     9,398,741 9,315,520
Research & Development 605,857     540,553     1,752,478 1,521,175
Selling, General & Administrative 731,200     862,673     2,059,147 2,402,406
Total Operating Expenses 1,337,057     1,403,226     3,811,625 3,923,581
INCOME FROM OPERATIONS 2,135,252     1,896,582     5,587,116 5,391,939
Other Income (Expense)                
Other Income 14,472     3,554     32,576 74,173
Funding from Paycheck Protection Program               122,327
Interest Expense     (584)     (2,502) (1,069)
Total Other Income (Expense) 14,472     2,970     30,074 195,431
INCOME BEFORE INCOME TAX EXPENSE 2,149,724     1,899,552     5,617,190 5,587,370
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (226,264)     157,333     (492,505) 254,745
Deferred Tax Benefit (Expense) 378     (338,098)     5,159 (356,164)
Total Income Tax (Expense) Benefit (225,886)     (180,765)     (487,346) (101,419)
NET INCOME 1,923,838     1,718,787     5,129,844 5,485,951
Supplemental Disclosures                
Total Assets 33,015,110     28,820,472     33,015,110 28,820,472
Total Liabilities 3,246,151     2,159,921     3,246,151 2,159,921
Revenues from Intercompany Sales - eliminated from sales above 966,316     492,579     1,769,365 1,367,619
Depreciation and Amortization 174,739     195,103     551,866 707,761
Purchases of Long-lived Assets 14,815     201,198     1,085,877 745,405
Marine Engineering Business Services [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Net Revenues 2,262,852     1,982,324     5,771,141 4,473,171
Cost of Revenues 1,172,517     1,069,723     3,415,598 2,511,756
Gross Profit 1,090,335     912,601     2,355,543 1,961,415
Research & Development (27,904)     135,213     15,743 383,011
Selling, General & Administrative 700,820     621,876     2,040,608 1,751,197
Total Operating Expenses 672,916     757,089     2,056,351 2,134,208
INCOME FROM OPERATIONS 417,419     155,512     299,192 (172,793)
Other Income (Expense)                
Other Income 4,212     17     79,256 51
Funding from Paycheck Protection Program               526,545
Interest Expense     (365)     (365)
Total Other Income (Expense) 4,212     (348)     79,256 526,231
INCOME BEFORE INCOME TAX EXPENSE 421,631     155,164     378,448 353,438
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (23,148)     260,996     147,778 498,666
Deferred Tax Benefit (Expense) 2,141     108,141     (42,839) 264,636
Total Income Tax (Expense) Benefit (21,007)     369,137     104,939 763,302
NET INCOME 400,624     524,301     483,387 1,116,740
Supplemental Disclosures                
Total Assets 13,354,167     14,608,555     13,354,167 14,608,555
Total Liabilities 774,497     844,816     774,497 844,816
Revenues from Intercompany Sales - eliminated from sales above 62,757     44,372     305,450 184,016
Depreciation and Amortization 24,209     24,590     72,056 98,671
Purchases of Long-lived Assets 22,125     7,655     34,174 13,203
Overhead [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Net Revenues        
Cost of Revenues        
Gross Profit        
Research & Development        
Selling, General & Administrative 528,958     729,272     2,016,330 1,670,443
Total Operating Expenses 528,958     729,272     2,016,330 1,670,443
INCOME FROM OPERATIONS (528,958)     (729,272)     (2,016,330) (1,670,443)
Other Income (Expense)                
Other Income 1,060         2,404 846
Funding from Paycheck Protection Program              
Interest Expense     (5,196)     (400) (16,008)
Total Other Income (Expense) 1,060     (5,196)     2,004 (15,162)
INCOME BEFORE INCOME TAX EXPENSE (527,898)     (734,468)     (2,014,326) (1,685,605)
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (77,320)         (158,464) (394)
Deferred Tax Benefit (Expense) 49,413     12,466     156,767 (58,829)
Total Income Tax (Expense) Benefit (27,907)     12,466     (1,697) (59,223)
NET INCOME (555,805)     (722,002)     (2,016,023) (1,744,828)
Supplemental Disclosures                
Total Assets 834,699     934,192     834,699 934,192
Total Liabilities 391,958     379,474     391,958 379,474
Revenues from Intercompany Sales - eliminated from sales above 607,500     675,000     1,815,000 2,025,000
Depreciation and Amortization 9,873     7,952     28,840 21,077
Purchases of Long-lived Assets $ 17,469     $ 30,584     $ 75,834 $ 80,018