Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($) |
3 Months Ended | 9 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Jul. 31, 2020 |
Apr. 30, 2020 |
Jan. 31, 2020 |
Jul. 31, 2019 |
Apr. 30, 2019 |
Jan. 31, 2019 |
Jul. 31, 2020 |
Jul. 31, 2019 |
Oct. 31, 2019 |
|
Revenues from External Customers | $ 5,396,036 | $ 6,668,498 | $ 15,366,233 | $ 19,210,278 | |||||
Cost of Revenues | 1,776,868 | 2,120,680 | 5,547,211 | 6,404,726 | |||||
Gross Profit | 3,619,168 | 4,547,818 | 9,819,022 | 12,805,552 | |||||
Research & Development | 772,641 | 631,690 | 2,414,547 | 1,948,243 | |||||
Selling, General & Administrative | 1,525,469 | 1,775,909 | 4,950,357 | 5,091,866 | |||||
Total Operating Expenses | 2,298,110 | 2,407,599 | 7,364,904 | 7,040,109 | |||||
Income (Loss) from Operations | 1,321,058 | 2,140,219 | 2,454,118 | 5,765,443 | |||||
Other Income | 3,871 | 6,398 | 16,384 | 65,467 | |||||
Interest Expense | (16,580) | (20,275) | (54,650) | (69,683) | |||||
Total Other Income (Expense) | (12,709) | (13,877) | (38,266) | (4,216) | |||||
Net Income (Loss) before Income Taxes | 1,308,349 | 2,126,342 | 2,415,852 | 5,761,227 | |||||
Current Tax Benefit (Expense) | 1,584 | (38) | 13,063 | 77,954 | |||||
Deferred Tax (Expense) Benefit | (287,180) | (350,617) | (324,469) | (850,987) | |||||
Total Income Tax (Expense) Benefit | (285,596) | (350,655) | (311,406) | (773,033) | |||||
Net Income (Loss) | 1,022,753 | $ (265,080) | $ 1,346,773 | 1,775,687 | $ 1,973,494 | $ 1,239,013 | 2,104,446 | 4,988,194 | |
Total Assets | 37,268,045 | 33,343,909 | 37,268,045 | 33,343,909 | $ 34,511,244 | ||||
Total Liabilities | 3,897,216 | 4,428,196 | 3,897,216 | 4,428,196 | $ 3,883,471 | ||||
Revenues from Intercompany Sales - eliminated from sales above | 1,857,288 | 888,857 | 2,935,639 | 3,374,253 | |||||
Depreciation and Amortization | 309,915 | 200,194 | 643,335 | 594,606 | |||||
(Sales) Purchases of Long-lived Assets | 341,180 | (221,822) | 831,578 | 1,877,892 | |||||
Marine Technology Business (Products) [Member] | |||||||||
Revenues from External Customers | 3,053,070 | 3,231,510 | 8,377,081 | 9,481,229 | |||||
Cost of Revenues | 653,117 | 592,585 | 1,715,647 | 1,798,800 | |||||
Gross Profit | 2,399,953 | 2,638,925 | 6,661,434 | 7,682,429 | |||||
Research & Development | 394,332 | 503,540 | 1,393,757 | 1,533,544 | |||||
Selling, General & Administrative | 496,772 | 590,981 | 2,056,947 | 2,089,442 | |||||
Total Operating Expenses | 891,104 | 1,094,521 | 3,450,704 | 3,622,986 | |||||
Income (Loss) from Operations | 1,508,849 | 1,544,404 | 3,210,730 | 4,059,443 | |||||
Other Income | 3,745 | 6,398 | 16,242 | 65,467 | |||||
Interest Expense | (1,718) | (2,197) | (7,345) | (8,063) | |||||
Total Other Income (Expense) | 2,027 | 4,201 | 8,897 | 57,404 | |||||
Net Income (Loss) before Income Taxes | 1,510,876 | 1,548,605 | 3,219,627 | 4,116,847 | |||||
Current Tax Benefit (Expense) | 5,532 | (5,172) | 24,968 | 20,496 | |||||
Deferred Tax (Expense) Benefit | (236,356) | (47,768) | (315,849) | (199,073) | |||||
Total Income Tax (Expense) Benefit | (230,824) | (52,940) | (290,881) | (178,577) | |||||
Net Income (Loss) | 1,280,052 | 1,495,665 | 2,928,746 | 3,938,270 | |||||
Total Assets | 22,149,613 | 18,200,970 | 22,149,613 | 18,200,970 | |||||
Total Liabilities | 1,737,007 | 2,169,195 | 1,737,007 | 2,169,195 | |||||
Revenues from Intercompany Sales - eliminated from sales above | 498,312 | 136,128 | 801,134 | 1,044,595 | |||||
Depreciation and Amortization | 261,975 | 132,392 | 539,567 | 391,516 | |||||
(Sales) Purchases of Long-lived Assets | 317,892 | (262,062) | 758,619 | 1,803,206 | |||||
Marine Engineering Business (Services) [Member] | |||||||||
Revenues from External Customers | 2,342,966 | 3,436,988 | 6,989,152 | 9,729,049 | |||||
Cost of Revenues | 1,123,751 | 1,528,095 | 3,831,564 | 4,605,926 | |||||
Gross Profit | 1,219,215 | 1,908,893 | 3,157,588 | 5,123,123 | |||||
Research & Development | 352,625 | 32,991 | 830,008 | 130,205 | |||||
Selling, General & Administrative | 515,547 | 659,398 | 1,678,882 | 1,864,503 | |||||
Total Operating Expenses | 868,172 | 692,389 | 2,508,890 | 1,994,708 | |||||
Income (Loss) from Operations | 351,043 | 1,216,504 | 648,698 | 3,128,415 | |||||
Other Income | 126 | 142 | |||||||
Interest Expense | (4,672) | (2,150) | (12,313) | (11,849) | |||||
Total Other Income (Expense) | (4,546) | (2,150) | (12,171) | (11,849) | |||||
Net Income (Loss) before Income Taxes | 346,497 | 1,214,354 | 636,527 | 3,116,566 | |||||
Current Tax Benefit (Expense) | 4,460 | 39,445 | |||||||
Deferred Tax (Expense) Benefit | 15,155 | (214,144) | 145,713 | (447,540) | |||||
Total Income Tax (Expense) Benefit | 15,155 | (209,684) | 145,713 | (408,095) | |||||
Net Income (Loss) | 361,652 | 1,004,670 | 782,240 | 2,708,471 | |||||
Total Assets | 14,439,917 | 13,876,685 | 14,439,917 | 13,876,685 | |||||
Total Liabilities | 1,392,816 | 870,492 | 1,392,816 | 870,492 | |||||
Revenues from Intercompany Sales - eliminated from sales above | 8,976 | 75,729 | 109,505 | 304,658 | |||||
Depreciation and Amortization | 43,263 | 63,724 | 89,688 | 191,402 | |||||
(Sales) Purchases of Long-lived Assets | 23,288 | 5,937 | 24,440 | 40,383 | |||||
Overhead [Member] | |||||||||
Revenues from External Customers | |||||||||
Cost of Revenues | |||||||||
Gross Profit | |||||||||
Research & Development | 25,684 | 95,159 | 190,782 | 284,494 | |||||
Selling, General & Administrative | 513,150 | 525,530 | 1,214,528 | 1,137,921 | |||||
Total Operating Expenses | 538,834 | 620,689 | 1,405,310 | 1,422,415 | |||||
Income (Loss) from Operations | (538,834) | (620,689) | (1,405,310) | (1,422,415) | |||||
Other Income | |||||||||
Interest Expense | (10,190) | (15,928) | (34,992) | (49,771) | |||||
Total Other Income (Expense) | (10,190) | (15,928) | (34,992) | (49,771) | |||||
Net Income (Loss) before Income Taxes | (549,024) | (636,617) | (1,440,302) | (1,472,186) | |||||
Current Tax Benefit (Expense) | (3,948) | 674 | (11,905) | 18,013 | |||||
Deferred Tax (Expense) Benefit | (65,979) | (88,705) | (154,333) | (204,374) | |||||
Total Income Tax (Expense) Benefit | (69,927) | (88,031) | (166,238) | (186,361) | |||||
Net Income (Loss) | (618,951) | (724,648) | (1,606,540) | (1,658,547) | |||||
Total Assets | 678,515 | 1,266,254 | 678,515 | 1,266,254 | |||||
Total Liabilities | 767,393 | 1,388,509 | 767,393 | 1,388,509 | |||||
Revenues from Intercompany Sales - eliminated from sales above | 1,350,000 | 675,000 | 2,025,000 | 2,025,000 | |||||
Depreciation and Amortization | 4,677 | 4,078 | 14,080 | 11,688 | |||||
(Sales) Purchases of Long-lived Assets | $ 34,303 | $ 48,519 | $ 34,303 |