Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.24.1
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
 3 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Segment Reporting Information [Line Items]    
Net Revenues $ 4,461,191 $ 5,596,284
Cost of Revenues 1,374,455 1,843,279
Gross Profit 3,086,736 3,753,005
Research & Development 485,977 444,458
Selling, General & Administrative 2,045,375 1,962,451
Total Operating Expenses 2,531,352 2,406,909
INCOME FROM OPERATIONS 555,384 1,346,096
Other Income (Expense)    
Other Income 35,020 2,904
Total Other Income 227,560 15,765
INCOME BEFORE INCOME TAX EXPENSE 782,944 1,361,861
Income Tax (Expense) Benefit    
Current Tax (Expense) Benefit 34,015 (11)
Deferred Tax (Expense) Benefit (187,071) 36,007
Total Income Tax (Expense) Benefit (153,056) 35,996
NET INCOME 629,888 1,397,857
Supplemental Disclosures    
Total Assets 53,012,942  
Total Liabilities 2,863,265  
Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 4,461,191 5,596,284
Cost of Revenues 1,374,455 1,843,279
Gross Profit 3,086,736 3,753,005
Research & Development 485,977 444,458
Selling, General & Administrative 2,045,375 1,962,451
Total Operating Expenses 2,531,352 2,406,909
INCOME FROM OPERATIONS 555,384 1,346,096
Other Income (Expense)    
Other Income 35,020 2,904
Interest Income 192,540 12,861
Total Other Income 227,560 15,765
INCOME BEFORE INCOME TAX EXPENSE 782,944 1,361,861
Income Tax (Expense) Benefit    
Current Tax (Expense) Benefit 34,015 (11)
Deferred Tax (Expense) Benefit (187,071) 36,007
Total Income Tax (Expense) Benefit (153,056) 35,996
NET INCOME 629,888 1,397,857
Supplemental Disclosures    
Total Assets 53,012,943 50,504,105
Total Liabilities 2,863,265 3,933,636
Revenues from Intercompany Sales – eliminated from sales above 1,271,724 1,555,381
Depreciation and Amortization 190,538 164,007
Purchases of Long-lived Assets 162,476 105,907
Marine Technology Business (Products) [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 3,542,766 3,824,159
Cost of Revenues 973,880 1,064,244
Gross Profit 2,568,886 2,759,915
Research & Development 461,375 438,308
Selling, General & Administrative 835,391 661,759
Total Operating Expenses 1,296,766 1,100,067
INCOME FROM OPERATIONS 1,272,120 1,659,848
Other Income (Expense)    
Other Income 20,306 2,904
Interest Income 135,731 12,116
Total Other Income 156,037 15,020
INCOME BEFORE INCOME TAX EXPENSE 1,428,157 1,674,868
Income Tax (Expense) Benefit    
Current Tax (Expense) Benefit (35,540) (18,873)
Deferred Tax (Expense) Benefit 27,328
Total Income Tax (Expense) Benefit (8,212) (18,873)
NET INCOME 1,419,945 1,655,995
Supplemental Disclosures    
Total Assets 36,685,343 36,176,835
Total Liabilities 1,963,391 2,694,766
Revenues from Intercompany Sales – eliminated from sales above 948,934 829,674
Depreciation and Amortization 153,019 128,838
Purchases of Long-lived Assets 132,423 79,642
Marine Engineering Business (Services) [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 918,425 1,772,125
Cost of Revenues 400,575 779,035
Gross Profit 517,850 993,090
Research & Development 24,602 6,150
Selling, General & Administrative 600,484 646,310
Total Operating Expenses 625,086 652,460
INCOME FROM OPERATIONS (107,236) 340,630
Other Income (Expense)    
Other Income 14,714
Interest Income 56,809 745
Total Other Income 71,523 745
INCOME BEFORE INCOME TAX EXPENSE (35,713) 341,375
Income Tax (Expense) Benefit    
Current Tax (Expense) Benefit (19,856)
Deferred Tax (Expense) Benefit
Total Income Tax (Expense) Benefit (19,856)
NET INCOME (35,713) 321,519
Supplemental Disclosures    
Total Assets 13,298,356 13,377,560
Total Liabilities 429,635 758,160
Revenues from Intercompany Sales – eliminated from sales above 10,790 45,707
Depreciation and Amortization 25,357 24,910
Purchases of Long-lived Assets 2,208 4,780
Overhead [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues
Cost of Revenues
Gross Profit
Research & Development
Selling, General & Administrative 609,500 654,382
Total Operating Expenses 609,500 654,382
INCOME FROM OPERATIONS (609,500) (654,382)
Other Income (Expense)    
Other Income
Interest Income
Total Other Income
INCOME BEFORE INCOME TAX EXPENSE (609,500) (654,382)
Income Tax (Expense) Benefit    
Current Tax (Expense) Benefit 69,555 38,718
Deferred Tax (Expense) Benefit (214,399) 36,007
Total Income Tax (Expense) Benefit (144,844) 74,725
NET INCOME (754,344) (579,657)
Supplemental Disclosures    
Total Assets 3,029,244 949,710
Total Liabilities 470,239 480,710
Revenues from Intercompany Sales – eliminated from sales above 312,000 680,000
Depreciation and Amortization 12,162 10,259
Purchases of Long-lived Assets $ 27,845 $ 21,485