|12 Months Ended|
Oct. 31, 2019
|Subsequent Events [Abstract]|
NOTE 14 - SUBSEQUENT EVENTS
On or around November 26, 2019, the Company entered into a Revolving Line of Credit Facility with HSBC NA its existing bankers. This Credit Line is for $4 million and if used interest is payable with the interest rate based on the Wall Street Journal US Prime Rate and is secured against all our business undertaking in the US and our foreign subsidiaries are each guarantors of the obligations undertaken under the Credit Agreement.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef