Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.23.2
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
 3 Months Ended 9 Months Ended
Jul. 31, 2023
Apr. 30, 2023
Jan. 31, 2023
Jul. 31, 2022
Apr. 30, 2022
Jan. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Segment Reporting Information [Line Items]                
Net Revenues $ 4,890,532     $ 6,267,409     $ 15,788,325 $ 17,090,455
Cost of Revenues 1,525,308     1,704,765     5,046,855 5,336,171
Gross Profit 3,365,224     4,562,644     10,741,470 11,754,284
Research & Development 568,287     577,953     1,538,684 1,768,221
Selling, General & Administrative 1,934,323     1,960,978     6,138,968 6,116,085
Total Operating Expenses 2,502,610     2,538,931     7,677,652 7,884,306
INCOME FROM OPERATIONS 862,614     2,023,713     3,063,818 3,869,978
Other Income (Expense)                
Other Income 214,552     19,744     403,693 114,236
Interest Expense         (2,902)
Total Other Income 214,552     19,744     403,693 111,334
INCOME BEFORE INCOME TAX EXPENSE 1,077,166     2,043,457     3,467,511 3,981,312
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (68,771)     (326,732)     (137,555) (503,191)
Deferred Tax (Expense) Benefit 30,385     51,932     115,158 119,087
Total Income Tax Expense (38,386)     (274,800)     (22,397) (384,104)
NET INCOME 1,038,780 $ 1,008,477 $ 1,397,857 1,768,657 $ 611,303 $ 1,217,248 3,445,114 3,597,208
Supplemental Disclosures                
Total Assets 51,969,795           51,969,795  
Total Liabilities 2,132,566           2,132,566  
Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Net Revenues 4,890,532     6,267,409     15,788,325 17,090,455
Cost of Revenues 1,525,308     1,704,765     5,046,855 5,336,171
Gross Profit 3,365,224     4,562,644     10,741,470 11,754,284
Research & Development 568,287     577,953     1,538,684 1,768,221
Selling, General & Administrative 1,934,323     1,960,978     6,138,968 6,116,085
Total Operating Expenses 2,502,610     2,538,931     7,677,652 7,884,306
INCOME FROM OPERATIONS 862,614     2,023,713     3,063,818 3,869,978
Other Income (Expense)                
Other Income 214,552     19,744     403,693 114,236
Interest Expense             (2,902)
Total Other Income 214,552     19,744     403,693 111,334
INCOME BEFORE INCOME TAX EXPENSE 1,077,166     2,043,457     3,467,511 3,981,312
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (68,771)     (326,732)     (137,555) (503,191)
Deferred Tax (Expense) Benefit 30,385     51,932     115,158 119,087
Total Income Tax Expense (38,386)     (274,800)     (22,397) (384,104)
NET INCOME 1,038,780     1,768,657     3,445,114 3,597,208
Supplemental Disclosures                
Total Assets 51,969,795     47,203,976     51,969,795 47,203,976
Total Liabilities 2,132,566     4,412,606     2,132,566 4,412,606
Revenues from Intercompany Sales – eliminated from sales above 1,581,151     1,636,573     5,310,664 3,889,815
Depreciation and Amortization 178,927     208,821     521,515 652,762
Purchases of Long-lived Assets 295,253     54,409     509,609 1,195,885
Marine Technology Business (Products) [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Net Revenues 2,863,251     4,004,557     10,270,839 11,319,314
Cost of Revenues 512,091     532,248     2,461,717 1,920,573
Gross Profit 2,351,160     3,472,309     7,809,122 9,398,741
Research & Development 557,260     605,857     1,513,973 1,752,478
Selling, General & Administrative 882,663     731,200     2,422,383 2,059,147
Total Operating Expenses 1,439,923     1,337,057     3,936,356 3,811,625
INCOME FROM OPERATIONS 911,237     2,135,252     3,872,766 5,587,116
Other Income (Expense)                
Other Income 180,463     14,472     345,390 32,576
Interest Expense             (2,502)
Total Other Income 180,463     14,472     345,390 30,074
INCOME BEFORE INCOME TAX EXPENSE 1,091,700     2,149,724     4,218,156 5,617,190
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (39,064)     (226,264)     (166,649) (492,505)
Deferred Tax (Expense) Benefit     378     5,159
Total Income Tax Expense (39,064)     (225,886)     (166,649) (487,346)
NET INCOME 1,052,636     1,923,838     4,051,507 5,129,844
Supplemental Disclosures                
Total Assets 37,173,921     33,015,110     37,173,921 33,015,110
Total Liabilities 1,619,997     3,246,151     1,619,997 3,246,151
Revenues from Intercompany Sales – eliminated from sales above 1,174,823     966,316     4,088,818 1,769,365
Depreciation and Amortization 141,764     174,739     414,167 551,866
Purchases of Long-lived Assets 263,493     14,815     407,326 1,085,877
Marine Engineering Business (Services) [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Net Revenues 2,027,281     2,262,852     5,517,486 5,771,141
Cost of Revenues 1,013,217     1,172,517     2,585,138 3,415,598
Gross Profit 1,014,064     1,090,335     2,932,348 2,355,543
Research & Development 11,027     (27,904)     24,711 15,743
Selling, General & Administrative 547,712     700,820     1,849,761 2,040,608
Total Operating Expenses 558,739     672,916     1,874,472 2,056,351
INCOME FROM OPERATIONS 455,325     417,419     1,057,876 299,192
Other Income (Expense)                
Other Income 34,089     4,212     58,303 79,256
Interest Expense            
Total Other Income 34,089     4,212     58,303 79,256
INCOME BEFORE INCOME TAX EXPENSE 489,414     421,631     1,116,179 378,448
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit (55,476)     (23,148)     (77,517) 147,778
Deferred Tax (Expense) Benefit     2,141     (42,839)
Total Income Tax Expense (55,476)     (21,007)     (77,517) 104,939
NET INCOME 433,938     400,624     1,038,662 483,387
Supplemental Disclosures                
Total Assets 13,962,350     13,354,167     13,962,350 13,354,167
Total Liabilities 679,522     774,497     679,522 774,497
Revenues from Intercompany Sales – eliminated from sales above 106,328     62,757     321,846 305,450
Depreciation and Amortization 25,716     24,209     75,201 72,056
Purchases of Long-lived Assets 2,814     22,125     25,606 34,174
Overhead [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Net Revenues        
Cost of Revenues        
Gross Profit        
Research & Development        
Selling, General & Administrative 503,948     528,958     1,866,824 2,016,330
Total Operating Expenses 503,948     528,958     1,866,824 2,016,330
INCOME FROM OPERATIONS (503,948)     (528,958)     (1,866,824) (2,016,330)
Other Income (Expense)                
Other Income     1,060     2,404
Interest Expense             (400)
Total Other Income     1,060     2,004
INCOME BEFORE INCOME TAX EXPENSE (503,948)     (527,898)     (1,866,824) (2,014,326)
Income Tax (Expense) Benefit                
Current Tax (Expense) Benefit 25,769     (77,320)     106,611 (158,464)
Deferred Tax (Expense) Benefit 30,385     49,413     115,158 156,767
Total Income Tax Expense 56,154     (27,907)     221,770 (1,697)
NET INCOME (447,794)     (555,805)     (1,645,054) (2,016,023)
Supplemental Disclosures                
Total Assets 833,524     834,699     833,524 834,699
Total Liabilities (166,953)     391,958     (166,953) 391,958
Revenues from Intercompany Sales – eliminated from sales above 300,000     607,500     900,000 1,815,000
Depreciation and Amortization 11,446     9,873     32,146 28,840
Purchases of Long-lived Assets $ 28,946     $ 17,469     $ 76,677 $ 75,834