Segment Analysis (Tables)

9 Months Ended

Jul. 31, 2017

	Marine Technology Business (Products)			Marine Engineering Business (Services)			Overhead			Total

Three Months Ended July 31, 2017

Revenues from External Customers	$	3,439,587		$	1,604,003		$	-		$	5,043,590

Cost of Revenues		1,054,369			928,392			-			1,982,761

Gross Profit		2,385,218			675,611			-			3,060,829

Research & Development		200,118			-			-			200,118
Selling, General & Administrative		781,908			637,465			297,891			1,717,264

Total Operating Expenses		982,026			637,465			297,891			1,917,382

Operating Income (Loss)		1,403,192			38,146			(297,891	)		1,143,447

Other Income (Expense)

Other Income		89,670			261			-			89,931
Interest Expense		(5,947	)		(15,451	)		(90,691	)		(112,089	)

Total other income (expense)		83,723			(15,190	)		(90,691	)		(22,158)

Income before income taxes		1,486,915			22,956			(388,582	)		1,121,289

Income tax benefit (expense)		3,513			-			-			3,513

Net Income	$	1,490,428		$	22,956		$	(388,582	)	$	1,124,802

Supplemental Disclosures

Total Assets	$	12,300,376		$	12,529,169		$	1,093,219		$	25,922,764

Total Liabilities		1,103,023			1,638,002			8,287,374			11,028,399

Revenues from Intercompany Sales - eliminated from sales above		1,002,339			36,030			369,625			1,407,994

Depreciation and Amortization		130,048			101,442			3,211			234,701

Purchases of Long-lived Assets		252,653			45,841			-			298,494

	Marine Technology Business (Products)			Marine Engineering Business (Services)			Overhead			Total

Three Months Ended July 31, 2016

Revenues from External Customers	$	2,427,570		$	1,851,090		$	-		$	4,278,660

Cost of Revenues		622,195			810,478			-			1,432,673

Gross Profit		1,805,375			1,040,612			-			2,845,987

Research & Development		292,855			-			-			292,855
Selling, General & Administrative		422,096			578,297			284,523			1,284,916

Total Operating Expenses		714,951			578,297			284,523			1,577,771

Operating Income (Loss)		1,090,424			462,315			(284,523	)		1,268,216

Other Income (Expense)

Other Income		50,226			(111	)		-			50,115
Interest Expense		(330,306	)		(110,113	)		222,948			(217,471	)

Total other income (expense)		(280,080	)		(110,224	)		222,948			(167,356	)

Income (Loss) before income taxes		810,344			352,091			(61,575	)		1,100,860

Income tax benefit (expense)		-			-			-			-

Net Income (Loss)	$	810,344		$	352,091		$	(61,575	)	$	1,100,860

Supplemental Disclosures


Total Assets	$	11,883,612		$	9,613,958		$	155,302		$	21,652,872

Total Liabilities		1,218,381			640,083			10,808,862			12,667,326

Revenues from Intercompany Sales - eliminated from sales above		286,892			(63,221	)		118,875			342,546

Depreciation and Amortization		121,600			81,129			3,199			205,928

Purchases of Long-lived Assets		(76,401	)		(8,648	)		3,600			(81,449	)

	Marine Technology Business (Products)			Marine Engineering Business (Services)			Overhead			Total

Nine Months Ended July 31, 2017

Revenues from External Customers	$	9,189,731		$	6,490,820		$	-		$	15,680,551

Cost of Revenues		2,753,297			3,226,449			-			5,979,746

Gross Profit		6,436,434			3,264,371			-			9,700,805

Research & Development		699,106			-			-			699,106
Selling, General & Administrative		2,165,601			1,979,436			596,931			4,741,968

Total Operating Expenses		2,864,707			1,979,436			596,931			5,441,074

Operating Income (Loss)		3,571,727			1,284,935			(596,931	)		4,259,731

Other Income (Expense)

Other Income		204,653			261			-			204,914
Interest (Expense) Income		(538,088	)		(214,674	)		256,332			(496,430	)

Total other income (expense)		(333,435	)		(214,413	)		256,332			(291,516	)

Income (Loss) before income taxes		3,238,292			1,070,522			(340,599	)		3,968,215

Income tax benefit (expense)		3,513			-			-			3,513

Net Income	$	3,241,805		$	1,070,522		$	(340,599	)	$	3,971,728

Supplemental Disclosures

Revenues from Intercompany Sales - eliminated from sales above		1,680,852			265,985			607,375			2,554,212

Depreciation and Amortization		377,311			244,223			9,528			631,062

Purchases of Long-lived Assets		2,541,716			94,874			12,470			2,649,060

	Marine Technology Business (Products)			Marine Engineering Business (Services)			Overhead			Total

Nine Months Ended July 31, 2016

Revenues from External Customers	$	7,816,669		$	6,983,805		$	-		$	14,800,474

Cost of Revenues		2,690,603			3,520,070			-			6,210,673

Gross Profit		5,126,066			3,463,735			-			8,589,801

Research & Development		708,146			-			-			708,146
Selling, General & Administrative		1,905,381			2,180,426			362,202			4,448,009

Total Operating Expenses		2,613,527			2,180,426			362,202			5,156,155

Operating Income (Loss)		2,512,539			1,283,309			(362,202	)		3,433,646

Other Income (Expense)

Other Income		149,990			5,787			-			155,777
Interest Expense		(615,383	)		(223,931	)		222,805			(616,509	)

Total other income (expense)		(465,393	)		(218,144	)		222,805			(460,732	)

Income (Loss) before income taxes		2,047,146			1,065,165			(139,397	)		2,972,914

Income tax benefit (expense)		-			-			-			-

Net Income (Loss)	$	2,047,146		$	1,065,165		$	(139,397	)	$	2,972,914

Supplemental Disclosures

Revenues from Intercompany Sales - eliminated from sales above		643,294			178,132			362,875			1,184,301

Depreciation and Amortization		247,235			255,848			9,631			512,714

Purchases of Long-lived Assets		642,906			13,150			12,468			668,524

	USA		Europe		Australia		Total

External Revenues by Geographic Locations

Three Months Ended July 31, 2017	$	1,550,141	$	2,942,365	$	551,085	$	5,043,591

Three Months Ended July 31, 2016	$	1,983,771	$	1,970,478	$	324,411	$	4,278,660

Nine Months Ended July 31, 2017	$	6,825,815	$	7,574,299	$	1,280,437	$	15,680,551

Nine Months Ended July 31, 2016	$	6,939,673	$	6,733,926	$	1,126,875	$	14,800,474