Annual report pursuant to Section 13 and 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.24.0.1
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
 12 Months Ended
Oct. 31, 2023
Oct. 31, 2022
Segment Reporting Information [Line Items]    
Net Revenues $ 19,352,088 $ 22,225,803
Cost of Revenues 6,321,033 7,035,115
Gross Profit 13,031,055 15,190,688
Research & Development 2,096,467 2,237,920
Selling, General & Administrative 8,195,036 7,948,704
Total Operating Expenses 10,291,503 10,186,624
INCOME FROM OPERATIONS 2,739,552 5,004,064
Other Income (Expense)    
Other Income 39,146 137,975
Total Other Income, net 681,676 128,271
INCOME BEFORE INCOME TAX EXPENSE 3,421,228 5,132,335
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) (248,655) (1,005,140)
Deferred Tax (Expense) Benefit (48,424) 174,026
Total Income Tax Expense (297,079) (831,114)
NET INCOME 3,124,149 4,301,221
Supplemental Disclosures    
Total Assets 51,841,516 46,927,458
Total Liabilities 3,412,750 3,544,649
Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 19,352,088 22,225,803
Cost of Revenues 6,321,033 7,035,115
Gross Profit 13,031,055 15,190,688
Research & Development 2,096,467 2,237,920
Selling, General & Administrative 8,195,036 7,948,704
Total Operating Expenses 10,291,503 10,186,624
INCOME FROM OPERATIONS 2,739,552 5,004,064
Other Income (Expense)    
Other Income 39,146 137,975
Interest Expense 642,530 (9,704)
Total Other Income, net 681,676 128,271
INCOME BEFORE INCOME TAX EXPENSE 3,421,228 5,132,335
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) (248,655) (1,005,140)
Deferred Tax (Expense) Benefit (48,424) 174,026
Total Income Tax Expense (297,079) (831,114)
NET INCOME 3,124,149 4,301,221
Supplemental Disclosures    
Total Assets 51,841,516 46,927,458
Total Liabilities 3,412,750 3,544,649
Revenues from Intercompany Sales - eliminated from sales above 6,387,363 5,522,732
Depreciation and Amortization 667,530 738,729
Purchases of Long-lived Assets 2,130,340 1,251,224
Marine Technology Business (Products) [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 12,119,066 14,724,688
Cost of Revenues 2,819,796 2,941,569
Gross Profit 9,299,270 11,783,119
Research & Development 2,043,890 2,207,500
Selling, General & Administrative 3,109,566 2,563,554
Total Operating Expenses 5,153,456 4,771,054
INCOME FROM OPERATIONS 4,145,814 7,012,065
Other Income (Expense)    
Other Income 39,146 55,715
Interest Expense 544,892 (9,233)
Total Other Income, net 584,038 46,482
INCOME BEFORE INCOME TAX EXPENSE 4,729,852 7,058,547
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) (272,126) (868,162)
Deferred Tax (Expense) Benefit (115,954) 31,907
Total Income Tax Expense (388,080) (836,255)
NET INCOME 4,341,772 6,222,292
Supplemental Disclosures    
Total Assets 36,969,673 33,348,805
Total Liabilities 2,263,761 2,432,750
Revenues from Intercompany Sales - eliminated from sales above 4,602,741 2,406,717
Depreciation and Amortization 523,339 602,583
Purchases of Long-lived Assets 1,996,544 1,123,475
Marine Engineering Business (Services) [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 7,233,022 7,501,115
Cost of Revenues 3,501,237 4,093,546
Gross Profit 3,731,785 3,407,569
Research & Development 52,577 30,420
Selling, General & Administrative 2,463,087 2,654,565
Total Operating Expenses 2,515,664 2,684,985
INCOME FROM OPERATIONS 1,216,121 722,584
Other Income (Expense)    
Other Income 79,204
Interest Expense 97,638 (71)
Total Other Income, net 97,638 79,133
INCOME BEFORE INCOME TAX EXPENSE 1,313,759 801,717
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) (78,876) 39,422
Deferred Tax (Expense) Benefit 54,382 (41,657)
Total Income Tax Expense (24,494) (2,235)
NET INCOME 1,289,265 799,482
Supplemental Disclosures    
Total Assets 13,604,262 12,662,109
Total Liabilities 732,582 526,195
Revenues from Intercompany Sales - eliminated from sales above 584,622 396,015
Depreciation and Amortization 100,689 96,776
Purchases of Long-lived Assets 25,404 36,862
Overhead [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues
Cost of Revenues
Gross Profit
Research & Development
Selling, General & Administrative 2,622,383 2,730,585
Total Operating Expenses 2,622,383 2,730,585
INCOME FROM OPERATIONS (2,622,383) (2,730,585)
Other Income (Expense)    
Other Income 3,056
Interest Expense (400)
Total Other Income, net 2,656
INCOME BEFORE INCOME TAX EXPENSE (2,622,383) (2,727,929)
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) 102,347 (176,400)
Deferred Tax (Expense) Benefit 13,148 183,776
Total Income Tax Expense 115,495 7,376
NET INCOME (2,506,889) (2,720,553)
Supplemental Disclosures    
Total Assets 1,267,581 916,544
Total Liabilities 416,407 585,704
Revenues from Intercompany Sales - eliminated from sales above 1,200,000 2,720,000
Depreciation and Amortization 43,502 39,370
Purchases of Long-lived Assets $ 108,392 $ 90,887