Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v3.24.4
INCOME TAXES (Tables)
12 Months Ended
Oct. 31, 2024
Income Tax Disclosure [Abstract]  
SCHEDULE OF PROVISION (BENEFIT) FOR INCOME TAXES

The provision (benefit) for income taxes comprises:

  

    October 31,     October 31,  
    2024     2023  
             
Current federal expense   $ 174,094   $ 264,955
Current state income tax expense     53,147     5,789
Foreign tax expense (benefit)     486,429     (22,089 )
                 
Total current tax expense     713,670     248,655
                 
Deferred federal expense     249,693     14,941
Deferred state expense (benefit)     (11,585 )     3,913
Deferred foreign tax expense     13,514     29,570
                 
Deferred tax expense     251,622     48,424
                 
Total Income Tax Expense   $ 965,292   $ 297,079
SCHEDULE OF RECONCILIATION OF INCOME TAX BENEFIT

The expense for income taxes differed from the U.S. statutory rate due to the following:

  

    October 31,     October 31,  
    2024     2023  
             
Statutory tax rate     21.0 %     21.0 %
R&D Relief     (8.8 )%     (9.7 )%
Change in valuation allowance    

-

      (3.4 )%
Foreign Tax expense     7.5 %     2.1 %
State Income Tax     1.2 %     (1.3 )%
                 
Total     20.9 %     8.7 %
SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES

Significant components of the Company’s deferred tax assets and liabilities are as follows:

 

    October 31,     October 31,  
    2024     2023  
Noncurrent deferred tax assets                
Temporary differences                
U.S. NOL carryforwards   $ -     $ -  
Deferred Revenue     -       -  
                 
Restricted Stock Awards     42,441       263,218  
Book/Tax Depreciation     (7,666 )      (21,554 )
Foreign fixed assets     (213,484 )     (218,045 )
Foreign capital loss carryforwards     -       11,182  
Foreign NOL carryforwards     96,698       176,585  
                 
Total     (82,011 )     211,386  
                 
Valuation allowance     -       -  
                 
Total Deferred Net (Liability) Asset   $ (82,011   $ 211,386