SCHEDULE OF SEGMENT REPORTING INFORMATION |
SCHEDULE OF SEGMENT REPORTING INFORMATION
|
|
Marine
Technology Business (Products) |
|
|
Marine
Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended October 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Revenues |
|
$ |
12,119,066 |
|
|
$ |
7,233,022 |
|
|
$ |
- |
|
|
$ |
19,352,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost
of Revenues |
|
|
2,819,796 |
|
|
|
3,501,237 |
|
|
|
- |
|
|
|
6,321,033 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
Profit |
|
|
9,299,270 |
|
|
|
3,731,785 |
|
|
|
- |
|
|
|
13,031,055 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research
& Development |
|
|
2,043,890 |
|
|
|
52,577 |
|
|
|
- |
|
|
|
2,096,467 |
|
Selling,
General & Administrative |
|
|
3,109,566 |
|
|
|
2,463,087 |
|
|
|
2,622,383 |
|
|
|
8,195,036 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Operating Expenses |
|
|
5,153,456 |
|
|
|
2,515,664 |
|
|
|
2,622,383 |
|
|
|
10,291,503 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
(Loss) from Operations |
|
|
4,145,814 |
|
|
|
1,216,121 |
|
|
|
(2,622,383 |
) |
|
|
2,739,552 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Income |
|
|
39,146 |
|
|
|
-
|
|
|
|
- |
|
|
|
39,146 |
|
Interest
Income |
|
|
544,892 |
|
|
|
97,638 |
|
|
|
- |
|
|
|
642,530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Other Income (Expense) |
|
|
584,038 |
|
|
|
97,638 |
|
|
|
- |
|
|
|
681,676 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
Tax (Expense) Benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
Tax (Expense) Benefit |
|
|
(272,126 |
) |
|
|
(78,876 |
) |
|
|
102,347 |
|
|
|
(248,655 |
) |
Deferred
Tax (Expense) Benefit |
|
|
(115,954 |
) |
|
|
54,382 |
|
|
|
13,148 |
|
|
|
(48,424 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Income Tax (Expense) Benefit |
|
|
(388,080 |
) |
|
|
(24,494 |
) |
|
|
115,495 |
|
|
|
(297,079 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Income (Loss) |
|
$ |
4,341,772 |
|
|
$ |
1,289,265 |
|
|
$ |
(2,506,889 |
) |
|
$ |
3,124,149 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental
Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Assets |
|
$ |
36,969,673 |
|
|
$ |
13,604,262 |
|
|
$ |
1,267,581 |
|
|
$ |
51,841,516 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Liabilities |
|
$ |
2,263,761 |
|
|
$ |
732,582 |
|
|
$ |
416,407 |
|
|
$ |
3,412,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
from Intercompany Sales - eliminated from sales above |
|
$ |
4,602,741 |
|
|
$ |
584,622 |
|
|
$ |
1,200,000 |
|
|
$ |
6,387,363 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
and Amortization |
|
$ |
523,339 |
|
|
$ |
100,689 |
|
|
$ |
43,502 |
|
|
$ |
667,530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases
of Long-lived Assets |
|
$ |
1,996,544 |
|
|
$ |
25,404 |
|
|
$ |
108,392 |
|
|
$ |
2,130,340 |
|
CODA
OCTOPUS GROUP, INC.
Notes
to the Consolidated Financial Statements
October
31, 2023 and 2022
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended October 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Revenues |
|
$ |
14,724,688 |
|
|
$ |
7,501,115 |
|
|
|
- |
|
|
$ |
22,225,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
2,941,569 |
|
|
|
4,093,546 |
|
|
|
- |
|
|
|
7,035,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
11,783,119 |
|
|
|
3,407,569 |
|
|
|
- |
|
|
|
15,190,688 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
2,207,500 |
|
|
|
30,420 |
|
|
|
- |
|
|
|
2,237,920 |
|
Selling, General & Administrative |
|
|
2,563,554 |
|
|
|
2,654,565 |
|
|
|
2,730,585 |
|
|
|
7,948,704 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
4,771,054 |
|
|
|
2,684,985 |
|
|
|
2,730,585 |
|
|
|
10,186,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
7,012,065 |
|
|
|
722,584 |
|
|
|
(2,730,585 |
) |
|
|
5,004,064 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
55,715 |
|
|
|
79,204 |
|
|
|
3,056 |
|
|
|
137,975 |
|
Interest Expense |
|
|
(9,233 |
) |
|
|
(71 |
) |
|
|
(400 |
) |
|
|
(9,704 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
46,482 |
|
|
|
79,133 |
|
|
|
2,656 |
|
|
|
128,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax (Expense) Benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit (Expense) |
|
|
(868,162 |
) |
|
|
39,422 |
|
|
|
(176,400 |
) |
|
|
(1,005,140 |
) |
Deferred Tax (Expense) Benefit |
|
|
31,907 |
|
|
|
(41,657 |
) |
|
|
183,776 |
|
|
|
174,026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Income Tax (Expense) Benefit |
|
|
(836,255 |
) |
|
|
(2,235 |
) |
|
|
7,376 |
|
|
|
(831,114 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
6,222,292 |
|
|
$ |
799,482 |
|
|
$ |
(2,720,553 |
) |
|
$ |
4,301,221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
33,348,805 |
|
|
$ |
12,662,109 |
|
|
$ |
916,544 |
|
|
$ |
46,927,458 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
2,432,750 |
|
|
$ |
526,195 |
|
|
$ |
585,704 |
|
|
$ |
3,544,649 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
2,406,717 |
|
|
$ |
396,015 |
|
|
$ |
2,720,000 |
|
|
$ |
5,522,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
602,583 |
|
|
$ |
96,776 |
|
|
$ |
39,370 |
|
|
$ |
738,729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
1,123,475 |
|
|
$ |
36,862 |
|
|
$ |
90,887 |
|
|
$ |
1,251,224 |
|
|