Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Oct. 31, 2017
Oct. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 3,339,663 $ 4,930,548
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 953,626 809,377
Stock compensation 134,238 119,730
Realized gain on the sale of fixed assets (109,413)
Bad debt allowance 30,053
(Increase) decrease in operating assets:    
Accounts receivable 1,856,090 (1,240,962)
Inventory (1,053,324) 1,182,386
Unbilled receivables 683,521 (1,926,819)
Other current assets (179,860) 178,527
Prepaid expenses (178,739) 13,620
Deferred tax asset 96,374 (60,411)
Increase (decrease) in operating liabilities:    
Accounts payable and other current liabilities (689,341) 451,942
Deferred tax liabilities (35,963)
Deferred revenues (12,443) (31,025)
Net Cash Provided by Operating Activities 4,840,392 4,385,040
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (2,561,551) (614,220)
Restricted cash 13,694 196
Proceeds from the sale of fixed assets 504,802
Net Cash Used in Investing Activities (2,043,055) (614,024)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments - loans and notes payable (746,571) (1,768,990)
Redemption of Series C preferred stock (1,100,000)
Net Cash Used in Financing Activities (1,846,571) (1,768,990)
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH 299,006 (2,710,953)
NET INCREASE (DECREASE) IN CASH 1,249,772 (708,927)
CASH AT THE BEGINNING OF THE PERIOD 5,601,767 6,310,694
CASH AT THE END OF THE PERIOD 6,851,539 5,601,767
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 697,877 1,094,432
Cash paid for taxes 64,993 100,098
Non-cash transactions:    
Common stock issued for terminal conversion premium 3,558,136
Preferred stock issued for accrued interest 1,000,000
Repayment of secured debt directly with proceeds of note payable $ 8,000,000