Annual report pursuant to Section 13 and 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.24.4
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
12 Months Ended
Oct. 31, 2024
Oct. 31, 2023
Segment Reporting Information [Line Items]    
Net Revenues $ 20,316,161 $ 19,352,088
Cost of Revenues 6,143,056 6,321,033
Gross Profit 14,173,105 13,031,055
Research & Development 2,242,429 2,096,467
Selling, General & Administrative 8,346,545 8,195,036
Total Operating Expenses 10,588,974 10,291,503
INCOME FROM OPERATIONS 3,584,131 2,739,552
Other Income    
Other Income 53,960 39,146
Total Other Income 1,027,157 681,676
INCOME BEFORE INCOME TAX EXPENSE 4,611,288 3,421,228
Income Tax Expense (Benefit)    
Current Tax Expense 713,670 248,655
Deferred Tax Expense (Benefit) 251,622 48,424
Total Income Tax Expense 965,292 297,079
NET INCOME 3,645,996 3,124,149
Supplemental Disclosures    
Total Assets 57,544,544 51,841,516
Total Liabilities 4,416,021 3,412,750
Current Tax Expense (Benefit) (713,670) (248,655)
Deferred Tax Expense (Benefit) (251,622) (48,424)
Total Income Tax Expense (Benefit) (965,292) (297,079)
Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 20,316,161 19,352,088
Cost of Revenues 6,143,056 6,321,033
Gross Profit 14,173,105 13,031,055
Research & Development 2,242,429 2,096,467
Selling, General & Administrative 8,346,545 8,195,036
Total Operating Expenses 10,588,974 10,291,503
INCOME FROM OPERATIONS 3,584,131 2,739,552
Other Income    
Other Income 88,382 39,146
Interest Income 938,775 642,530
Total Other Income 1,027,157 681,676
INCOME BEFORE INCOME TAX EXPENSE 4,611,288 3,421,228
Income Tax Expense (Benefit)    
Current Tax Expense 713,670 (248,655)
Deferred Tax Expense (Benefit) 251,622 (48,424)
Total Income Tax Expense 965,292 (297,079)
NET INCOME 3,645,996 3,124,149
Supplemental Disclosures    
Total Assets 57,544,544 [1] 51,841,516
Total Liabilities 4,416,021 [1] 3,412,750
Revenues from Intercompany Sales - eliminated from sales above 4,871,982 6,387,363
Depreciation and Amortization 770,535 667,530
Purchases of Long-lived Assets 458,079 2,130,340
Current Tax Expense (Benefit) (713,670) 248,655
Deferred Tax Expense (Benefit) (251,622) 48,424
Total Income Tax Expense (Benefit) (965,292) 297,079
Products Segment [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 12,806,603  
Cost of Revenues 2,824,541  
Gross Profit 9,982,062  
Research & Development 2,019,112  
Selling, General & Administrative 3,814,860  
Total Operating Expenses 5,833,972  
INCOME FROM OPERATIONS 4,148,090  
Other Income    
Other Income 53,960  
Interest Income 657,817  
Total Other Income 711,777  
INCOME BEFORE INCOME TAX EXPENSE 4,859,867  
Income Tax Expense (Benefit)    
Current Tax Expense 316,955  
Deferred Tax Expense (Benefit) (5,655)  
Total Income Tax Expense 311,300  
NET INCOME 4,548,567  
Supplemental Disclosures    
Total Assets [1] 40,922,453  
Total Liabilities [1] 3,072,876  
Revenues from Intercompany Sales - eliminated from sales above 3,367,839  
Depreciation and Amortization 632,882  
Purchases of Long-lived Assets 345,191  
Current Tax Expense (Benefit) (316,955)  
Deferred Tax Expense (Benefit) 5,655  
Total Income Tax Expense (Benefit) (311,300)  
Services Segment [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 7,509,558  
Cost of Revenues 3,318,515  
Gross Profit 4,191,043  
Research & Development 223,317  
Selling, General & Administrative 2,248,493  
Total Operating Expenses 2,471,810  
INCOME FROM OPERATIONS 1,719,233  
Other Income    
Other Income 34,422  
Interest Income 198,239  
Total Other Income 232,661  
INCOME BEFORE INCOME TAX EXPENSE 1,951,894  
Income Tax Expense (Benefit)    
Current Tax Expense 169,374  
Deferred Tax Expense (Benefit) 19,169  
Total Income Tax Expense 188,543  
NET INCOME 1,763,351  
Supplemental Disclosures    
Total Assets [1] 13,404,567  
Total Liabilities [1] 842,450  
Revenues from Intercompany Sales - eliminated from sales above 238,143  
Depreciation and Amortization 88,166  
Purchases of Long-lived Assets 23,786  
Current Tax Expense (Benefit) (169,374)  
Deferred Tax Expense (Benefit) (19,169)  
Total Income Tax Expense (Benefit) (188,543)  
Overhead [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues
Cost of Revenues
Gross Profit
Research & Development
Selling, General & Administrative 2,283,192 2,622,383
Total Operating Expenses 2,283,192 2,622,383
INCOME FROM OPERATIONS (2,283,192) (2,622,383)
Other Income    
Other Income
Interest Income 82,719
Total Other Income 82,719
INCOME BEFORE INCOME TAX EXPENSE (2,200,473) (2,622,383)
Income Tax Expense (Benefit)    
Current Tax Expense 227,341 (102,347)
Deferred Tax Expense (Benefit) 238,108 (13,148)
Total Income Tax Expense 465,449 (115,495)
NET INCOME (2,665,922) (2,506,888)
Supplemental Disclosures    
Total Assets 3,217,524 [1] 1,267,581
Total Liabilities 500,695 [1] 416,407
Revenues from Intercompany Sales - eliminated from sales above 1,266,000 1,200,000
Depreciation and Amortization 49,487 43,502
Purchases of Long-lived Assets 89,103 108,392
Current Tax Expense (Benefit) (227,341) 102,347
Deferred Tax Expense (Benefit) (238,108) 13,148
Total Income Tax Expense (Benefit) $ (465,449) 115,495
Marine Technology Business (Products) [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues   12,119,066
Cost of Revenues   2,819,796
Gross Profit   9,299,270
Research & Development   2,043,890
Selling, General & Administrative   3,109,566
Total Operating Expenses   5,153,456
INCOME FROM OPERATIONS   4,145,814
Other Income    
Other Income   39,146
Interest Income   544,892
Total Other Income   584,038
INCOME BEFORE INCOME TAX EXPENSE   4,729,852
Income Tax Expense (Benefit)    
Current Tax Expense   (272,126)
Deferred Tax Expense (Benefit)   (115,954)
Total Income Tax Expense   (388,080)
NET INCOME   4,341,772
Supplemental Disclosures    
Total Assets   36,969,673
Total Liabilities   2,263,761
Revenues from Intercompany Sales - eliminated from sales above   4,602,741
Depreciation and Amortization   523,339
Purchases of Long-lived Assets   1,996,544
Current Tax Expense (Benefit)   272,126
Deferred Tax Expense (Benefit)   115,954
Total Income Tax Expense (Benefit)   388,080
Marine Engineering Business (Services) [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues   7,233,022
Cost of Revenues   3,501,237
Gross Profit   3,731,785
Research & Development   52,577
Selling, General & Administrative   2,463,087
Total Operating Expenses   2,515,664
INCOME FROM OPERATIONS   1,216,121
Other Income    
Other Income  
Interest Income   97,638
Total Other Income   97,638
INCOME BEFORE INCOME TAX EXPENSE   1,313,759
Income Tax Expense (Benefit)    
Current Tax Expense   (78,876)
Deferred Tax Expense (Benefit)   (54,382)
Total Income Tax Expense   (24,494)
NET INCOME   1,289,265
Supplemental Disclosures    
Total Assets   13,604,262
Total Liabilities   732,582
Revenues from Intercompany Sales - eliminated from sales above   584,622
Depreciation and Amortization   100,689
Purchases of Long-lived Assets   25,404
Current Tax Expense (Benefit)   78,876
Deferred Tax Expense (Benefit)   54,382
Total Income Tax Expense (Benefit)   $ 24,494
[1] The Total Assets and Total Liabilities included in the Supplemental Disclosures include PAL