Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

v3.8.0.1
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Oct. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Carrying Value of Identifiable Intangible Assets

The identifiable intangible assets acquired and their carrying value as of October 31, 2017 and 2016, are as follows:

 

    October 31,     October 31,  
    2017     2016  
             
Customer relationships (weighted average life of 10 years)   $ 896,624     $ 886,164  
Non-compete agreements (weighted average life of 3 years)     198,911       198,911  
Patents and other (weighted average life of 10 years)     294,175       294,175  
                 
Total identifiable intangible assets - gross carrying value     1,389,710       1,379,250  
                 
Less: accumulated amortization     (1,182,537 )     (1,011,833 )
                 
Total intangible assets, net   $ 207,173     $ 367,417  

Schedule of Estimated Future Amortization Expenses

Future estimated annual amortization expenses as of October 31, 2017 as follows:

 

Years Ending October 31   Amount  
       
2018   $ 40,595  
2019     40,595  
2020     40,595  
2021     40,595  
2022     40,595  
Thereafter     4,198  
         
Totals   $ 207,173  

Schedule of Goodwill

The carrying amount of goodwill as of October 31, 2017 and 2016, respectively are recorded below:

 

    2017     2016  
Breakout of Goodwill:            
             
Coda Octopus Colmek, Inc.   $ 2,038,669     $ 2,038,669  
Coda Octopus Products, Ltd     62,315       62,315  
Coda Octopus Martech, Ltd     998,591       998,591  
Coda Octopus Martech, Ltd (from Dragon Design Ltd Acquisition)     282,533       282,533  
                 
Total Goodwill   $ 3,382,108     $ 3,382,108