Quarterly report [Sections 13 or 15(d)]

OPERATING LEASES

v3.25.1
OPERATING LEASES
3 Months Ended
Jan. 31, 2025
Operating Leases  
OPERATING LEASES

NOTE 6 – OPERATING LEASES

 

We are contractually bound by a non-cancellable operating lease relating to PAL which we acquired recently. Lease costs recognized in our consolidated statements of operations are summarized as follows:

 

    January 31,     October 31,  
    2025     2024  
             
Lease liability   $ 392,445     $ 413,171  

Future minimum lease payments

   

534,222

     

568,076

 
Remaining life of the lease in years (Expires 31 March 2033)     8.17       8.42  
Discount Rate     6.75 %     6.75 %

 

Maturities of lease liabilities as of January 31, 2025 were as follows:

 

Future Minimum Operating Lease Maturity Analysis

 

Years   Total  
       
2025 (remaining 9 months)   $ 43,435  
2026     59,358  
2027     61,138  
2028     62,972  
2029     64,862  
Thereafter     242,457  
Imputed Interest     (141,777 )
Total   $ 392,445