Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.24.3
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
 3 Months Ended 9 Months Ended
Jul. 31, 2024
Jan. 31, 2024
Jul. 31, 2023
Apr. 30, 2023
Jan. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Segment Reporting Information [Line Items]              
Net Revenues $ 5,476,544   $ 4,890,532     $ 15,260,913 $ 15,788,325
Cost of Revenues 1,428,006   1,525,308     4,387,205 5,046,855
Gross Profit 4,048,538   3,365,224     10,873,708 10,741,470
Research & Development 496,359   568,287     1,524,817 1,538,684
Selling, General & Administrative 2,161,405   1,934,323     6,052,350 6,138,968
Total Operating Expenses 2,657,764   2,502,610     7,577,167 7,677,652
INCOME FROM OPERATIONS 1,390,774   862,614     3,296,541 3,063,818
Other Income              
Other Income 10,463   2,848     42,847 8,532
Total Other Income 240,472   214,552     758,864 403,693
INCOME BEFORE INCOME TAX EXPENSE 1,631,246   1,077,166     4,055,405 3,467,511
Income Tax (Expense) Benefit              
Current Tax (Expense) Benefit (325,625)   (68,771)     (482,683) (137,555)
Deferred Tax Benefit (30,963)   30,385     (252,938) 115,158
Total Income Tax (Expense) (356,588)   (38,386)     (735,621) (22,397)
NET INCOME 1,274,658 $ 629,888 1,038,780 $ 1,008,477 $ 1,397,857 3,319,784 3,445,114
Supplemental Disclosures              
Total Assets 55,945,114         55,945,114  
Total Liabilities 3,140,077         3,140,077  
Other Income 10,463   2,848     42,847 8,532
Segment Reporting [Member]              
Segment Reporting Information [Line Items]              
Net Revenues 5,476,544   4,890,532     15,260,913 15,788,325
Cost of Revenues 1,428,006   1,525,308     4,387,205 5,046,855
Gross Profit 4,048,538   3,365,224     10,873,708 10,741,470
Research & Development 496,359   568,287     1,524,817 1,538,684
Selling, General & Administrative 2,161,405   1,934,323     6,052,350 6,138,968
Total Operating Expenses 2,657,764   2,502,610     7,577,167 7,677,652
INCOME FROM OPERATIONS 1,390,774   862,614     3,296,541 3,063,818
Other Income              
Other Income 10,463            
Interest Income 230,009   211,704     716,017 395,161
Total Other Income 240,472   214,552     758,864 403,693
INCOME BEFORE INCOME TAX EXPENSE 1,631,246   1,077,166     4,055,405 3,467,511
Income Tax (Expense) Benefit              
Current Tax (Expense) Benefit (325,625)   (68,771)     (482,683) (137,555)
Deferred Tax Benefit (30,963)   30,385     (252,938) 115,158
Total Income Tax (Expense) (356,588)   (38,386)     (735,621) (22,397)
NET INCOME 1,274,658   1,038,780     3,319,784 3,445,114
Supplemental Disclosures              
Total Assets 55,945,114   51,969,795     55,945,114 51,969,795
Total Liabilities 3,140,077   2,132,566     3,140,077 2,132,566
Intercompany sales that are not included in Net Revenues shown above 1,476,857   1,581,151     3,645,586 5,310,664
Depreciation and Amortization 201,001   178,927     580,855 521,515
Purchases of Long-lived Assets 180,022   295,253     539,840 509,609
Other Income     2,848     42,847 8,532
Marine Technology Business (Products) [Member] | Segment Reporting [Member]              
Segment Reporting Information [Line Items]              
Net Revenues 3,048,544   2,863,251     10,116,024 10,270,839
Cost of Revenues 521,141   512,091     2,192,486 2,461,717
Gross Profit 2,527,403   2,351,160     7,923,538 7,809,122
Research & Development 459,879   557,260     1,406,315 1,513,973
Selling, General & Administrative 1,085,495   882,663     2,713,704 2,422,383
Total Operating Expenses 1,545,374   1,439,923     4,120,019 3,936,356
INCOME FROM OPERATIONS 982,029   911,237     3,803,519 3,872,766
Other Income              
Other Income 10,396            
Interest Income 161,875   177,615     499,763 336,858
Total Other Income 172,271   180,463     515,849 345,390
INCOME BEFORE INCOME TAX EXPENSE 1,154,300   1,091,700     4,319,368 4,218,156
Income Tax (Expense) Benefit              
Current Tax (Expense) Benefit (101,172)   (39,064)     (180,612) (166,649)
Deferred Tax Benefit (27,309)       (10,956)
Total Income Tax (Expense) (128,481)   (39,064)     (191,568) (166,649)
NET INCOME 1,025,819   1,052,636     4,127,800 4,051,507
Supplemental Disclosures              
Total Assets 37,464,861   37,173,921     37,464,861 37,173,921
Total Liabilities 1,952,347   1,619,997     1,952,347 1,619,997
Intercompany sales that are not included in Net Revenues shown above 1,088,573   1,174,823     2,512,249 4,088,818
Depreciation and Amortization 167,914   141,764     474,248 414,167
Purchases of Long-lived Assets 151,526   263,493     437,288 407,326
Other Income     2,848     16,086 8,532
Marine Engineering Business (Services) [Member] | Segment Reporting [Member]              
Segment Reporting Information [Line Items]              
Net Revenues 2,428,000   2,027,281     5,144,889 5,517,486
Cost of Revenues 906,865   1,013,217     2,194,719 2,585,138
Gross Profit 1,521,135   1,014,064     2,950,170 2,932,348
Research & Development 36,480   11,027     118,502 24,711
Selling, General & Administrative 498,941   547,712     1,695,875 1,849,761
Total Operating Expenses 535,421   558,739     1,814,377 1,874,472
INCOME FROM OPERATIONS 985,714   455,325     1,135,793 1,057,876
Other Income              
Other Income 67            
Interest Income 44,707   34,089     153,583 58,303
Total Other Income 44,774   34,089     180,344 58,303
INCOME BEFORE INCOME TAX EXPENSE 1,030,488   489,414     1,316,137 1,116,179
Income Tax (Expense) Benefit              
Current Tax (Expense) Benefit   (55,476)     (77,517)
Deferred Tax Benefit      
Total Income Tax (Expense)   (55,476)     (77,517)
NET INCOME 1,030,488   433,938     1,316,137 1,038,662
Supplemental Disclosures              
Total Assets 14,827,016   13,962,350     14,827,016 13,962,350
Total Liabilities 747,484   679,522     747,484 679,522
Intercompany sales that are not included in Net Revenues shown above 70,284   106,328     185,337 321,846
Depreciation and Amortization 21,029   25,716     70,730 75,201
Purchases of Long-lived Assets 13,414   2,814     16,807 25,606
Other Income         26,761
Overhead [Member] | Segment Reporting [Member]              
Segment Reporting Information [Line Items]              
Net Revenues      
Cost of Revenues      
Gross Profit      
Research & Development      
Selling, General & Administrative 576,969   503,948     1,642,771 1,866,824
Total Operating Expenses 576,969   503,948     1,642,771 1,866,824
INCOME FROM OPERATIONS (576,969)   (503,948)     (1,642,771) (1,866,824)
Other Income              
Other Income            
Interest Income 23,427       62,671  
Total Other Income 23,427       62,671
INCOME BEFORE INCOME TAX EXPENSE (553,542)   (503,948)     (1,580,100) (1,866,824)
Income Tax (Expense) Benefit              
Current Tax (Expense) Benefit (224,453)   25,769     (302,071) 106,611
Deferred Tax Benefit (3,654)   30,385     (241,982) 115,158
Total Income Tax (Expense) (228,107)   56,154     (544,053) 221,769
NET INCOME (781,649)   (447,794)     (2,124,153) (1,645,055)
Supplemental Disclosures              
Total Assets 3,653,237   833,524     3,653,237 833,524
Total Liabilities 440,246   (166,953)     440,246 (166,953)
Intercompany sales that are not included in Net Revenues shown above 318,000   300,000     948,000 900,000
Depreciation and Amortization 12,058   11,446     35,877 32,146
Purchases of Long-lived Assets $ 15,082   28,946     85,745 76,677
Other Income