Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

Intangible Assets and Goodwill (Tables)

12 Months Ended

Oct. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Value of Identifiable Intangible Assets

Amortization of patents, customer relationships, non-compete agreements and licenses included as a charge to income amounted to $39,689 and $47,190 for the years ended October 31, 2019 and 2018, respectively. Goodwill is not being amortized.

	October 31,			October 31,
	2019			2018

Customer relationships (weighted average life of 10 years)	$	720,592		$	720,592
Non-compete agreements (weighted average life of 3 years)		198,911			198,911
Patents and other (weighted average life of 10 years)		381,785			343,157

Total identifiable intangible assets - gross carrying value		1,301,288			1,262,660

Less: accumulated amortization		(1,070,505	)		(1,030,816	)

Total intangible assets, net	$	230,783		$	231,844

Schedule of Estimated Future Amortization Expenses

Future estimated annual amortization expenses as of October 31, 2019 as follows:

Years Ending October 31,	Amount
2020		40,005
2021		35,443
2022		35,423
2023		33,083
2024		22,092
Thereafter		64,737

Totals	$	230,783

Schedule of Goodwill

The carrying amount of goodwill as of October 31, 2019 and 2018, respectively, are recorded below:

	October 31,		October 31,
	2019		2018
Breakout of Goodwill:

Coda Octopus Colmek, Inc.	$	2,038,669	$	2,038,669
Coda Octopus Products, Ltd		62,315		62,315
Coda Octopus Martech, Ltd		1,281,124		1,281,124

Total Goodwill	$	3,382,108	$	3,382,108