Annual report pursuant to Section 13 and 15(d)

Property and Equipment

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Property and Equipment
 12 Months Ended
Oct. 31, 2017
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 4 – PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following at October 31, 2017 and 2016:

 

    2017     2016  
             
Buildings   $ 4,082,346     $ 2,777,364  
Land     200,000       200,000  
Office machinery and equipment     2,064,449       1,679,207  
Furniture, fixtures and improvements     1,165,897       812,807  
Totals     7,512,692       5,469,378  
Less: accumulated depreciation     (2,299,411 )     (1,628,878 )
                 
Property and Equipment – net   $ 5,213,281     $ 3,840,500  

 

Depreciation expense for the years ended October 31, 2017 and 2016 was $790,107 and $762,391, respectively.