| GOODWILL AND IDENTIFIED INTANGIBLE ASSETS |
NOTE
8 – GOODWILL AND IDENTIFIED INTANGIBLE ASSETS
Intangibles
consisted of the following as of:
SCHEDULE OF INTANGIBLE ASSETS
| |
|
|
|
|
October
31, 2025 |
|
|
October
31, 2024 |
|
| |
|
Average |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Finite-lived |
|
Life |
|
|
Gross |
|
|
Accumulated |
|
|
|
|
|
Gross |
|
|
Accumulated |
|
|
|
|
| intangible
assets |
|
(Years) |
|
|
Asset |
|
|
Amortization |
|
|
Net |
|
|
Asset |
|
|
Amortization |
|
|
Net |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer Relationships |
|
10 |
|
|
$ |
919,503 |
|
|
$ |
(919,503 |
) |
|
$ |
0 |
|
|
$ |
919,503 |
|
|
$ |
(919,503 |
) |
|
$ |
0 |
|
| Non-Compete Agreements |
|
4 |
|
|
|
423,548 |
|
|
|
(255,744 |
) |
|
|
167,804 |
|
|
|
423,548 |
|
|
|
(198,911 |
) |
|
|
224,637 |
|
| Value of Technology |
|
7 |
|
|
|
2,947,155 |
|
|
|
(426,070 |
) |
|
|
2,521,085 |
|
|
|
2,947,155 |
|
|
|
- |
|
|
|
2,947,155 |
|
| Patents |
|
10-15 |
|
|
|
845,906 |
|
|
|
(355,207 |
) |
|
|
490,699 |
|
|
|
820,555 |
|
|
|
(305,313 |
) |
|
|
515,242 |
|
| Total intangible assets |
|
|
|
|
$ |
5,136,112 |
|
|
$ |
(1,956,524 |
) |
|
$ |
3,179,588 |
|
|
$ |
5,110,761 |
|
|
$ |
(1,423,727 |
) |
|
$ |
3,687,034 |
|
Estimated
future annual amortization expenses of finite-lived assets as of October 31, 2025, is as follows:
SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSES
| Years Ending October 31, |
|
Amount |
|
| |
|
|
|
| 2026 |
|
$ |
523,996 |
|
| 2027 |
|
|
521,218 |
|
| 2028 |
|
|
521,218 |
|
| 2029 |
|
|
465,059 |
|
| 2030 |
|
|
465,059 |
|
| |
|
|
|
|
| Thereafter |
|
|
683,038 |
|
| |
|
|
|
|
| Totals |
|
$ |
3,179,588 |
|
Amortization
of intangible assets for the years ended October 31, 2025, and 2024 was $530,218 and $60,476 respectively, driven by the acquisition of PAL.
Goodwill
consisted of the following as of:
SCHEDULE OF GOODWILL
| |
|
October 31, |
|
|
October 31, |
|
| |
|
2025 |
|
|
2024 |
|
| |
|
|
|
|
|
|
| Coda
Octopus Engineering, Inc. (US Based) |
|
$ |
2,038,669 |
|
|
$ |
2,038,669 |
|
| Coda
Octopus Products Limited (UK Based) |
|
|
62,315 |
|
|
|
62,315 |
|
| Coda
Octopus Martech Limited (UK Based) |
|
|
1,281,124 |
|
|
|
1,281,124 |
|
| Precision
Acoustics Limited (UK Based) |
|
|
257,226 |
|
|
|
257,226 |
|
| |
|
|
|
|
|
|
|
|
| Total Goodwill |
|
$ |
3,639,334 |
|
|
$ |
3,639,334 |
|
|