Schedule of Segment Reporting Information |
Information concerning principal
geographic areas is presented below according to the area where the activity has taken place for the three months ended April 30,
2018 and 2017 respectively:
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended April 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
2,173,291 |
|
|
$ |
1,353,105 |
|
|
$ |
- |
|
|
$ |
3,526,396 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
217,222 |
|
|
|
723,636 |
|
|
|
- |
|
|
|
940,858 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
1,956,069 |
|
|
|
629,469 |
|
|
|
- |
|
|
|
2,585,538 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
503,518 |
|
|
|
136,959 |
|
|
|
- |
|
|
|
640,477 |
|
Selling, General & Administrative |
|
|
850,521 |
|
|
|
614,718 |
|
|
|
560,391 |
|
|
|
2,025,630 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,354,039 |
|
|
|
751,677 |
|
|
|
560,391 |
|
|
|
2,666,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
602,030 |
|
|
|
(122,208 |
) |
|
|
(560,391 |
) |
|
|
(80,569 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
81,918 |
|
|
|
2,097 |
|
|
|
- |
|
|
|
84,015 |
|
Interest Expense |
|
|
(2,385 |
) |
|
|
(14,752 |
) |
|
|
(63,604 |
) |
|
|
(80,741 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
79,533 |
|
|
|
(12,655 |
) |
|
|
(63,604 |
) |
|
|
3,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) before income taxes |
|
|
681,563 |
|
|
|
(134,863 |
) |
|
|
(623,995 |
) |
|
|
(77,295 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
(6,431 |
) |
|
|
- |
|
|
|
6,401 |
|
|
|
(30 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
675,132 |
|
|
$ |
(134,863 |
) |
|
$ |
(617,594 |
) |
|
$ |
(77,325 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,655,196 |
|
|
$ |
10,944,045 |
|
|
$ |
342,932 |
|
|
$ |
23,942,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
763,339 |
|
|
|
1,435,771 |
|
|
|
1,938,490 |
|
|
|
4,137,600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
315,954 |
|
|
|
132,837 |
|
|
|
675,000 |
|
|
|
1,123,791 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
113,923 |
|
|
|
72,499 |
|
|
|
4,255 |
|
|
|
190,677 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
52,112 |
|
|
|
6,056 |
|
|
|
24,785 |
|
|
|
82,953 |
|
|
|
Marine
Technology
Business
(Products)
|
|
|
Marine
Engineering
Business
(Services)
|
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended April 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
3,299,545 |
|
|
$ |
1,979,213 |
|
|
$ |
- |
|
|
$ |
5,278,758 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
968,908 |
|
|
|
1,045,032 |
|
|
|
- |
|
|
|
2,013,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
2,330,637 |
|
|
|
934,181 |
|
|
|
- |
|
|
|
3,264,818 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
247,758 |
|
|
|
- |
|
|
|
- |
|
|
|
247,758 |
|
Selling, General & Administrative |
|
|
830,121 |
|
|
|
655,560 |
|
|
|
154,211 |
|
|
|
1,639,892 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,077,879 |
|
|
|
655,560 |
|
|
|
154,211 |
|
|
|
1,887,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
1,252,758 |
|
|
|
278,621 |
|
|
|
(154,211 |
) |
|
|
1,377,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
86,643 |
|
|
|
- |
|
|
|
- |
|
|
|
86,643 |
|
Interest Expense |
|
|
(181,806 |
) |
|
|
(75,001 |
) |
|
|
67,960 |
|
|
|
(188,847 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
(95,163 |
) |
|
|
(75,001 |
) |
|
|
67,960 |
|
|
|
(102,204 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) before income taxes |
|
|
1,157,595 |
|
|
|
203,620 |
|
|
|
(86,251 |
) |
|
|
1,274,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
1,157,595 |
|
|
$ |
203,620 |
|
|
$ |
(86,251 |
) |
|
$ |
1,274,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,119,417 |
|
|
$ |
12,616,569 |
|
|
$ |
422,059 |
|
|
$ |
25,158,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
1,223,741 |
|
|
|
1,654,104 |
|
|
|
8,600,374 |
|
|
|
11,478,219 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
505,660 |
|
|
|
170,056 |
|
|
|
118,875 |
|
|
|
794,591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
145,800 |
|
|
|
71,056 |
|
|
|
3,106 |
|
|
|
219,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
643,603 |
|
|
|
26,852 |
|
|
|
- |
|
|
|
670,455 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended April 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
4,216,233 |
|
|
$ |
2,360,720 |
|
|
$ |
- |
|
|
$ |
6,576,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
647,353 |
|
|
|
1,239,612 |
|
|
|
- |
|
|
|
1,886,965 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
3,568,880 |
|
|
|
1,121,108 |
|
|
|
- |
|
|
|
4,689,988 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
945,792 |
|
|
|
365,224 |
|
|
|
- |
|
|
|
1,311,016 |
|
Selling, General & Administrative |
|
|
1,428,086 |
|
|
|
1,245,592 |
|
|
|
857,709 |
|
|
|
3,531,387 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
2,373,878 |
|
|
|
1,610,816 |
|
|
|
857,709 |
|
|
|
4,842,403 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
1,195,002 |
|
|
|
(489,708 |
) |
|
|
(857,709 |
) |
|
|
(152,415 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
88,573 |
|
|
|
2,097 |
|
|
|
- |
|
|
|
90,670 |
|
Interest (Expense) Income |
|
|
(6,804 |
) |
|
|
(29,701 |
) |
|
|
(146,984 |
) |
|
|
(183,489 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
81,769 |
|
|
|
(27,604 |
) |
|
|
(146,984 |
) |
|
|
(92,819 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) before income taxes |
|
|
1,276,771 |
|
|
|
(517,312 |
) |
|
|
(1,004,693 |
) |
|
|
(245,234 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
(6,596 |
) |
|
|
- |
|
|
|
6,566 |
|
|
|
(30 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
1,270,175 |
|
|
$ |
(517,312 |
) |
|
$ |
(998,127 |
) |
|
$ |
(245,264 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,455,194 |
|
|
$ |
10,944,045 |
|
|
$ |
342,932 |
|
|
$ |
23,942,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
760,320 |
|
|
|
1,438,790 |
|
|
|
1,938,490 |
|
|
|
4,137,600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
471,218 |
|
|
|
10,189 |
|
|
|
675,000 |
|
|
|
1,156,407 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
236,650 |
|
|
|
152,214 |
|
|
|
7,192 |
|
|
|
396,056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
254,029 |
|
|
|
49,961 |
|
|
|
24,785 |
|
|
|
328,775 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended April 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
5,750,144 |
|
|
$ |
4,886,817 |
|
|
$ |
- |
|
|
$ |
10,636,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
1,698,926 |
|
|
|
2,298,059 |
|
|
|
- |
|
|
|
3,996,985 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
4,051,218 |
|
|
|
2,588,758 |
|
|
|
- |
|
|
|
6,639,976 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
498,988 |
|
|
|
- |
|
|
|
- |
|
|
|
498,988 |
|
Selling, General & Administrative |
|
|
1,404,770 |
|
|
|
1,341,971 |
|
|
|
299,039 |
|
|
|
3,045,780 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,903,758 |
|
|
|
1,341,971 |
|
|
|
299,039 |
|
|
|
3,544,768 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
2,147,460 |
|
|
|
1,246,787 |
|
|
|
(299,039 |
) |
|
|
3,095,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
136,059 |
|
|
|
- |
|
|
|
- |
|
|
|
136,059 |
|
Interest Expense |
|
|
(532,141 |
) |
|
|
(199,223 |
) |
|
|
347,023 |
|
|
|
(384,341 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
(396,082 |
) |
|
|
(199,223 |
) |
|
|
347,023 |
|
|
|
(248,282 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
|
1,751,378 |
|
|
|
1,047,564 |
|
|
|
47,984 |
|
|
|
2,846,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
1,751,378 |
|
|
$ |
1,047,564 |
|
|
$ |
47,984 |
|
|
$ |
2,846,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,119,417 |
|
|
$ |
12,616,569 |
|
|
$ |
422,059 |
|
|
$ |
25,158,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
1,223,741 |
|
|
|
1,654,104 |
|
|
|
8,600,374 |
|
|
|
11,478,219 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
678,513 |
|
|
|
229,955 |
|
|
|
237,750 |
|
|
|
1,146,218 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
247,263 |
|
|
|
142,781 |
|
|
|
6,317 |
|
|
|
396,361 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
2,289,063 |
|
|
|
49,033 |
|
|
|
12,470 |
|
|
|
2,350,566 |
|
|
|
USA |
|
|
Europe |
|
|
Australia |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External Revenues by Geographic Locations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended April 30, 2018 |
|
$ |
1,934,365 |
|
|
$ |
1,476,668 |
|
|
$ |
115,363 |
|
|
$ |
3,526,396 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended April 30, 2017 |
|
$ |
2,525,908 |
|
|
$ |
2,614,897 |
|
|
$ |
137,953 |
|
|
$ |
5,278,758 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended April 30, 2018 |
|
$ |
3,021,991 |
|
|
$ |
3,298,704 |
|
|
$ |
256,258 |
|
|
$ |
6,576,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended April 30, 2017 |
|
$ |
5,275,675 |
|
|
$ |
4,631,934 |
|
|
$ |
729,352 |
|
|
$ |
10,636,961 |
|
|