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 |
X | ||||||||||
- Definition Revenues from Intercompany Sales. No definition available.
|
X | ||||||||||
- Definition Supplemental Disclosures Abstract No definition available.
|
X | ||||||||||
- Definition Amount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The net cash outflow or inflow from purchases, sales and disposals of property, plant and equipment and other productive assets, including intangibles. No definition available.
|
X | ||||||||||
- Definition Amount of expense for research and development. Includes, but is not limited to, cost for computer software product to be sold, leased, or otherwise marketed and writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both. Excludes write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|