Quarterly report pursuant to Section 13 or 15(d)

Segment Analysis - Schedule of Segment Reporting Information (Details)

v3.19.2
Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)
3 Months Ended 9 Months Ended
Jul. 31, 2019
Apr. 30, 2019
Jan. 31, 2019
Jul. 31, 2018
Apr. 30, 2018
Jan. 31, 2018
Jul. 31, 2019
Jul. 31, 2018
Oct. 31, 2018
Revenues from External Customers $ 6,668,498     $ 5,778,473     $ 19,210,278 $ 12,355,426  
Cost of Revenues 2,120,680     1,584,200     6,404,726 3,471,165  
Gross Profit 4,547,818     4,194,273     12,805,552 8,884,261  
Research & Development 631,690     530,392     1,948,243 1,841,408  
Selling, General & Administrative 1,775,909     1,640,842     5,091,866 5,172,229  
Total Operating Expenses 2,407,599     2,171,234     7,040,109 7,013,637  
Income (Loss) from Operations 2,140,219     2,023,039     5,765,443 1,870,624  
Other Income 6,398     3,972     65,467 94,642  
Interest Expense (20,275)     (29,421)     (69,683) (212,910)  
Total Other Income (Expense) (13,877)     (25,449)     (4,216) (118,268)  
Net Income (Loss) before Income Taxes 2,126,342     1,997,590     5,761,227 1,752,356  
Current Tax Benefit (Expense) (38)     20     77,954 (10)  
Deferred Tax (Expense) (350,617)         (850,987)  
Total Income Tax (Expense) (350,655)     20     (773,033) (10)  
Net Income (Loss) 1,775,687 $ 1,973,494 $ 1,239,013 1,997,610 $ (77,325) $ (167,939) 4,988,194 1,752,346  
Total Assets 33,343,909     25,948,616     33,343,909 25,948,616 $ 28,736,611
Total Liabilities 4,428,196     4,416,803     4,428,196 4,416,803 $ 4,349,661
Revenues from Intercompany Sales - eliminated from sales above 886,857     902,980     3,374,253 3,052,455  
Depreciation and Amortization 200,194     209,589     594,606 605,645  
(Sales) Purchases of Long-lived Assets (221,822)     257,120     1,843,589 442,041  
Marine Technology Business (Products) [Member]                  
Revenues from External Customers 3,231,510     3,926,491     9,481,229 8,142,724  
Cost of Revenues 592,585     650,669     1,798,800 1,298,022  
Gross Profit 2,638,925     3,275,822     7,682,429 6,844,702  
Research & Development 503,540     440,202     1,533,544 1,385,994  
Selling, General & Administrative 590,981     723,155     2,089,442 2,150,168  
Total Operating Expenses 1,094,521     1,163,357     3,622,986 3,536,162  
Income (Loss) from Operations 1,544,404     2,112,465     4,059,443 3,308,540  
Other Income 6,398     3,941     65,467 92,514  
Interest Expense (2,197)     (2,480)     (8,063) (9,289)  
Total Other Income (Expense) 4,201     1,461     57,404 83,225  
Net Income (Loss) before Income Taxes 1,548,605     2,113,926     4,116,847 3,391,765  
Current Tax Benefit (Expense) (5,172)         20,496 (6,596)  
Deferred Tax (Expense) (47,768)           (199,073)    
Total Income Tax (Expense) (52,940)           (178,577)    
Net Income (Loss) 1,495,665     2,113,926     3,938,270 3,385,169  
Total Assets 18,200,970     14,016,131     18,200,970 14,016,131  
Total Liabilities 2,169,195     865,138     2,169,195 865,138  
Revenues from Intercompany Sales - eliminated from sales above 136,128     44,180     1,044,595 831,352  
Depreciation and Amortization 132,392     137,426     391,516 374,076  
(Sales) Purchases of Long-lived Assets (262,062)     232,575     1,803,206 486,604  
Marine Engineering Business (Services) [Member]                  
Revenues from External Customers 3,436,988     1,851,982     9,729,049 4,212,702  
Cost of Revenues 1,528,095     933,531     4,605,926 2,173,143  
Gross Profit 1,908,893     918,451     5,123,123 2,039,559  
Research & Development 32,991     90,190     130,205 455,414  
Selling, General & Administrative 659,398     566,692     1,864,503 1,813,357  
Total Operating Expenses 692,389     656,882     1,994,708 2,268,771  
Income (Loss) from Operations 1,216,504     261,569     3,128,415 (229,212)  
Other Income     31     2,128  
Interest Expense (2,150)     (15,802)     (11,849) (45,503)  
Total Other Income (Expense) (2,150)     (15,771)     (11,849) (43,375)  
Net Income (Loss) before Income Taxes 1,214,354     245,798     3,116,566 (272,587)  
Current Tax Benefit (Expense) 4,460         39,445  
Deferred Tax (Expense) (214,144)           (447,540)    
Total Income Tax (Expense) (209,684)           (408,095)    
Net Income (Loss) 1,004,670     245,798     2,708,471 (272,587)  
Total Assets 13,876,685     11,378,558     13,876,685 11,378,558  
Total Liabilities 870,492     1,660,291     870,492 1,660,291  
Revenues from Intercompany Sales - eliminated from sales above 75,729     183,800     304,658 196,103  
Depreciation and Amortization 63,724     66,435     191,402 218,649  
(Sales) Purchases of Long-lived Assets 5,937     (6,122)     40,383 43,839  
Overhead [Member]                  
Revenues from External Customers          
Cost of Revenues          
Gross Profit          
Research & Development 95,159         284,494  
Selling, General & Administrative 525,530     350,995     1,137,921 1,208,704  
Total Operating Expenses 620,689     350,995     1,422,415 1,208,704  
Income (Loss) from Operations (620,689)     (350,995)     (1,422,415) (1,208,704)  
Other Income          
Interest Expense (15,928)     (11,139)     (49,771) (158,118)  
Total Other Income (Expense) (15,928)     (11,139)     (49,771) (158,118)  
Net Income (Loss) before Income Taxes (636,617)     (362,134)     (1,472,186) (1,366,822)  
Current Tax Benefit (Expense) 674     20     18,013 6,586  
Deferred Tax (Expense) (88,705)           (204,374)    
Total Income Tax (Expense) (88,031)           (186,361)    
Net Income (Loss) (724,648)     (362,114)     (1,658,547) (1,360,236)  
Total Assets 1,266,254     553,927     1,266,254 553,927  
Total Liabilities 1,388,509     1,891,374     1,388,509 1,891,374  
Revenues from Intercompany Sales - eliminated from sales above 675,000     675,000     2,025,000 2,025,000  
Depreciation and Amortization 4,078     5,728     11,688 12,920  
(Sales) Purchases of Long-lived Assets $ 34,303     $ 30,667     $ 34,303 $ 55,452