Quarterly report [Sections 13 or 15(d)]

OPERATING LEASES

v3.25.2
OPERATING LEASES
9 Months Ended
Jul. 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 on October 29, 2024. Lease costs recognized in our consolidated statements of operations are summarized as follows:

 

    July 31,     October 31,  
    2025     2024  
             
Lease Liability   $ 401,149     $ 413,171  
Future minimum lease payments   $ 538,404     $ 568,076  
Remaining life of the lease in years (Expires 31 March 2033)     7.67       8.42  
Discount Rate     6.75 %     6.75 %

 

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

 

Future Minimum Operating Lease Maturity Analysis

 

 

Years   Total  
       
2025 (remaining 3 months)   $ 15,575  
2026     63,233  
2027     65,130  
2028     67,084  
2029     69,096  
Thereafter     258,286  
Imputed Interest     (137,255 )
Total   $ 401,149