Annual report pursuant to Section 13 and 15(d)

LINE OF CREDIT

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LINE OF CREDIT
12 Months Ended
Oct. 31, 2024
Line Of Credit  
LINE OF CREDIT

NOTE 12 – LINE OF CREDIT

 

The Company entered into a $4,000,000 revolving line of credit facility with HSBC NA on November 27, 2019, with the interest rate established as the applicable prime rate. This revolving line of credit facility is subject to annual renewal and has been extended to November 2025. We have not utilized this line of credit and as a result the outstanding balance on the line of credit was $0 as of October 31, 2024 and 2023.