Annual report pursuant to Section 13 and 15(d)

Organization and Description of Business

Organization and Description of Business
12 Months Ended
Oct. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business



Coda Octopus Group, Inc. (“Coda,” “the Company,” or “we”) operates two distinct operating business units. These are the Marine Technology Business (“Products Segment”) and the Marine Engineering Business (“Services Segment”). The Marine Technology Business sells solutions which it designs, develops and manufactures to the subsea market. Among the solutions it designs and develops is its real time volumetric imaging sonar which is a unique and leading product in the subsea market. The Marine Engineering Business supplies proprietary parts (for which it enjoys) sole source status to prime defense contractors. These parts are part of a broader sub-system into mission critical defense systems.


The consolidated financial statements include the accounts of Coda Octopus Group, Inc. and our domestic and foreign subsidiaries. All significant intercompany transactions and balances have been eliminated in the consolidated financial statements.