Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.23.1
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
 3 Months Ended 6 Months Ended
Apr. 30, 2023
Jan. 31, 2023
Apr. 30, 2022
Jan. 31, 2022
Apr. 30, 2023
Apr. 30, 2022
Segment Reporting Information [Line Items]            
Net Revenues $ 5,301,509   $ 4,984,838   $ 10,897,793 $ 10,823,046
Cost of Revenues 1,678,268   1,953,132   3,521,547 3,631,406
Gross Profit 3,623,241   3,031,706   7,376,246 7,191,640
Research & Development 525,939   517,378   970,397 1,190,268
Selling, General & Administrative 2,242,194   2,033,116   4,204,645 4,155,106
Total Operating Expenses 2,768,133   2,550,494   5,175,042 5,345,374
INCOME FROM OPERATIONS 855,108   481,212   2,201,204 1,846,266
Other Income (Expense)            
Other Income 173,376   14,497   189,141 94,491
Interest Expense   (2,502)   (2,902)
Total Other Income 173,376   11,995   189,141 91,589
INCOME BEFORE INCOME TAX EXPENSE 1,028,484   493,207   2,390,345 1,937,855
Income Tax (Expense) Benefit            
Current Tax Benefit (Expense) (68,773)   109,150   (68,784) (176,459)
Deferred Tax (Expense) Benefit 48,766   8,946   84,773 67,155
Total Income Tax (Expense) Benefit (20,007)   118,096   15,989 (109,304)
NET INCOME 1,008,477 $ 1,397,857 611,303 $ 1,217,248 2,406,334 1,828,551
Supplemental Disclosures            
Total Assets 50,903,462       50,903,462  
Total Liabilities 2,592,721       2,592,721  
Segment Reporting [Member]            
Segment Reporting Information [Line Items]            
Net Revenues 5,301,509   4,984,838   10,897,793 10,823,046
Cost of Revenues 1,678,268   1,953,132   3,521,547 3,631,406
Gross Profit 3,623,241   3,031,706   7,376,246 7,191,640
Research & Development 525,939   517,378   970,397 1,190,268
Selling, General & Administrative 2,242,194   2,033,116   4,204,645 4,155,106
Total Operating Expenses 2,768,133   2,550,494   5,175,042 5,345,374
INCOME FROM OPERATIONS 855,108   481,212   2,201,204 1,846,266
Other Income (Expense)            
Other Income 173,376   14,497   189,141 94,491
Interest Expense     (2,502)     (2,902)
Total Other Income 173,376   11,995   189,141 91,589
INCOME BEFORE INCOME TAX EXPENSE 1,028,484   493,207   2,390,345 1,937,855
Income Tax (Expense) Benefit            
Current Tax Benefit (Expense) (68,773)   109,150   (68,784) (176,459)
Deferred Tax (Expense) Benefit 48,766   8,946   84,773 67,155
Total Income Tax (Expense) Benefit (20,007)   118,096   15,989 (109,304)
NET INCOME 1,008,477   611,303   2,406,334 1,828,551
Supplemental Disclosures            
Total Assets 50,903,462   44,862,644   50,903,462 44,862,644
Total Liabilities 2,592,721   3,319,878   2,592,721 3,319,878
Revenues from Intercompany Sales - eliminated from sales above 2,174,132   1,148,024   3,729,513 2,253,242
Depreciation and Amortization 178,763   282,475   342,770 443,941
Purchases of Long-lived Assets 118,448   139,512   224,355 1,141,476
Marine Technology Business (Products) [Member] | Segment Reporting [Member]            
Segment Reporting Information [Line Items]            
Net Revenues 3,583,429   3,491,009   7,407,588 7,314,757
Cost of Revenues 885,382   816,033   1,949,626 1,388,325
Gross Profit 2,698,047   2,674,976   5,457,962 5,926,432
Research & Development 518,405   617,246   956,713 1,146,621
Selling, General & Administrative 877,961   569,451   1,539,720 1,327,947
Total Operating Expenses 1,396,366   1,186,697   2,496,433 2,474,568
INCOME FROM OPERATIONS 1,301,681   1,488,279   2,961,529 3,451,864
Other Income (Expense)            
Other Income 149,907   9,055   164,927 18,104
Interest Expense     (2,502)     (2,502)
Total Other Income 149,907   6,553   164,927 15,602
INCOME BEFORE INCOME TAX EXPENSE 1,451,588   1,494,832   3,126,456 3,467,466
Income Tax (Expense) Benefit            
Current Tax Benefit (Expense) (108,712)   279   (127,585) (266,241)
Deferred Tax (Expense) Benefit   (1,926)   4,781
Total Income Tax (Expense) Benefit (108,712)   (1,647)   (127,585) (261,460)
NET INCOME 1,342,876   1,493,185   2,998,871 3,206,006
Supplemental Disclosures            
Total Assets 36,187,625   30,503,346   36,187,625 30,503,346
Total Liabilities 1,665,630   2,255,971   1,665,630 2,255,971
Revenues from Intercompany Sales - eliminated from sales above 2,084,321   413,654   2,913,995 803,049
Depreciation and Amortization 143,565   241,469   272,403 377,127
Purchases of Long-lived Assets 64,191   84,969   143,833 1,071,062
Marine Engineering Business (Services) [Member] | Segment Reporting [Member]            
Segment Reporting Information [Line Items]            
Net Revenues 1,718,080   1,493,829   3,490,205 3,508,289
Cost of Revenues 792,886   1,137,099   1,571,921 2,243,081
Gross Profit 925,194   356,730   1,918,284 1,265,208
Research & Development 7,534   (99,868)   13,684 43,647
Selling, General & Administrative 655,739   683,612   1,302,049 1,339,787
Total Operating Expenses 663,273   583,744   1,315,733 1,383,434
INCOME FROM OPERATIONS 261,921   (227,014)   602,551 (118,226)
Other Income (Expense)            
Other Income 23,469   4,098   24,214 75,043
Interest Expense        
Total Other Income 23,469   4,098   24,214 75,043
INCOME BEFORE INCOME TAX EXPENSE 285,390   (222,916)   626,765 (43,183)
Income Tax (Expense) Benefit            
Current Tax Benefit (Expense) (2,185)   146,890   (22,041) 170,926
Deferred Tax (Expense) Benefit   (45,184)   (44,980)
Total Income Tax (Expense) Benefit (2,185)   101,706   (22,041) 125,946
NET INCOME 283,205   (121,210)   604,724 82,763
Supplemental Disclosures            
Total Assets 13,618,065   13,541,238   13,618,065 13,541,238
Total Liabilities 802,459   616,133   802,459 616,133
Revenues from Intercompany Sales - eliminated from sales above 169,811   126,870   215,518 242,693
Depreciation and Amortization 24,757   31,190   49,667 47,847
Purchases of Long-lived Assets 18,012   11,049   22,792 12,049
Overhead [Member] | Segment Reporting [Member]            
Segment Reporting Information [Line Items]            
Net Revenues    
Cost of Revenues    
Gross Profit    
Research & Development    
Selling, General & Administrative 708,494   780,053   1,362,876 1,487,372
Total Operating Expenses 708,494   780,053   1,362,876 1,487,372
INCOME FROM OPERATIONS (708,494)   (780,053)   (1,362,876) (1,487,372)
Other Income (Expense)            
Other Income   1,344   1,344
Interest Expense         (400)
Total Other Income   1,344   944
INCOME BEFORE INCOME TAX EXPENSE (708,494)   (778,709)   (1,362,876) (1,486,428)
Income Tax (Expense) Benefit            
Current Tax Benefit (Expense) 42,124   (38,019)   80,842 (81,144)
Deferred Tax (Expense) Benefit 48,766   56,056   84,773 107,354
Total Income Tax (Expense) Benefit 90,890   18,037   165,615 26,210
NET INCOME (617,604)   (760,672)   (1,197,261) (1,460,218)
Supplemental Disclosures            
Total Assets 1,097,772   818,060   1,097,772 818,060
Total Liabilities 124,632   447,774   124,632 447,774
Revenues from Intercompany Sales - eliminated from sales above (80,000)   607,500   600,000 1,207,500
Depreciation and Amortization 10,441   9,816   20,700 18,967
Purchases of Long-lived Assets $ 36,246   $ 43,494   $ 57,731 $ 58,365