Annual report pursuant to Section 13 and 15(d)

Organization and Description of Business

Organization and Description of Business
12 Months Ended
Oct. 31, 2020
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 Marine Technology Business (“Products Business”) and Marine Engineering Business (“Services Business”). The Marine Technology Business sells solutions which it designs, develops and manufactures to the subsea market. Among the solutions it designs and develops its real time volumetric imaging sonar which is a unique and leading product in the subsea/underwater 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.