Quarterly report pursuant to Section 13 or 15(d)

Segment Analysis - Schedule of Segment Reporting Information (Details)

v3.21.1
Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)
 3 Months Ended 6 Months Ended
Apr. 30, 2021
Jan. 31, 2021
Apr. 30, 2020
Jan. 31, 2020
Apr. 30, 2021
Apr. 30, 2020
Oct. 31, 2020
Revenues from External Customers $ 5,373,076   $ 3,289,218   $ 10,423,535 $ 9,970,197  
Cost of Revenues 1,623,472   1,363,804   3,359,009 3,770,343  
Gross Profit 3,749,604   1,925,414   7,064,526 6,199,854  
Research & Development 645,281   713,641   1,228,420 1,641,906  
Selling, General & Administrative 1,780,001   1,533,210   3,593,367 3,424,888  
Total Operating Expenses 2,425,282   2,246,851   4,821,787 5,066,794  
Income (Loss) from Operations 1,324,322   (321,437)   2,242,739 1,133,060  
Other Income 69,445   (311)   71,499 12,513  
Funding from Paycheck Protection Program 558,901     648,872  
Interest Expense (13,641)   (18,456)   (28,155) (38,070)  
Total Other Income (Expense) 614,705   (18,767)   692,216 (25,557)  
Net Income (Loss) before Income Taxes 1,939,027   (340,204)   2,934,955 1,107,503  
Current Tax Benefit 309,962   34,826   334,687 11,479  
Deferred Tax (Expense) Benefit (41,056)   40,298   67,135 (37,289)  
Total Income Tax (Expense) Benefit 268,906   75,124   401,822 (25,810)  
Net Income (Loss) 2,207,933 $ 1,128,844 (265,080) $ 1,346,773 3,336,777 1,081,693  
Total Assets 42,720,966   36,538,667   42,720,966 36,538,667 $ 38,039,151
Total Liabilities 3,453,992   5,210,136   3,453,992 5,210,136 $ 3,642,883
Revenues from Intercompany Sales - eliminated from sales above 1,269,854   957,345   2,364,684 2,035,696  
Depreciation and Amortization 233,681   101,456   599,864 333,420  
(Sales) Purchases of Long-lived Assets 190,045   (152,761)   599,189 490,398  
Marine Technology Business (Products) [Member]              
Revenues from External Customers 4,184,409   1,691,199   7,932,688 5,324,011  
Cost of Revenues 1,022,701   406,853   1,916,976 1,062,530  
Gross Profit 3,161,708   1,284,346   6,015,712 4,261,481  
Research & Development 538,878   442,696   980,622 999,425  
Selling, General & Administrative 800,622   692,177   1,534,447 1,560,175  
Total Operating Expenses 1,339,500   1,134,873   2,515,069 2,559,600  
Income (Loss) from Operations 1,822,208   149,473   3,500,643 1,701,881  
Other Income 68,583   (327)   70,619 12,497  
Funding from Paycheck Protection Program 122,327       122,327    
Interest Expense (3,518)   (2,395)   (5,771) (5,627)  
Total Other Income (Expense) 187,392   (2,722)   187,175 6,870  
Net Income (Loss) before Income Taxes 2,009,600   146,751   3,687,818 1,708,751  
Current Tax Benefit 72,292   (6,397)   84,945 19,436  
Deferred Tax (Expense) Benefit (102,585)   (1,354)   (113,740) (79,493)  
Total Income Tax (Expense) Benefit (30,293)   (7,751)   (28,795) (60,057)  
Net Income (Loss) 1,979,307   139,000   3,659,023 1,648,694  
Total Assets 27,086,894   21,256,131   27,086,894 21,256,131  
Total Liabilities 1,839,295   2,907,719   1,839,295 2,907,719  
Revenues from Intercompany Sales - eliminated from sales above 504,411   277,658   875,040 580,480  
Depreciation and Amortization 200,536   94,599   512,658 277,592  
(Sales) Purchases of Long-lived Assets 144,232   (158,874)   544,207 440,727  
Marine Engineering Business (Services) [Member]              
Revenues from External Customers 1,188,667   1,598,019   2,490,847 4,646,186  
Cost of Revenues 600,771   956,951   1,442,033 2,707,813  
Gross Profit 587,896   641,068   1,048,814 1,938,373  
Research & Development 106,403   270,945   247,798 477,383  
Selling, General & Administrative 552,067   527,039   1,119,626 1,163,335  
Total Operating Expenses 658,470   797,984   1,367,424 1,640,718  
Income (Loss) from Operations (70,574)   (156,916)   (318,610) 297,655  
Other Income 16   16   34 16  
Funding from Paycheck Protection Program 436,574       526,545    
Interest Expense (4,544)   (3,959)   (9,695) (7,641)  
Total Other Income (Expense) 432,046   (3,943)   516,884 (7,625)  
Net Income (Loss) before Income Taxes 361,472   (160,859)   198,274 290,030  
Current Tax Benefit 237,670   (4,045)   237,670  
Deferred Tax (Expense) Benefit 112,550   142,793   264,636 130,558  
Total Income Tax (Expense) Benefit 350,220   138,748   502,306 130,558  
Net Income (Loss) 711,692   (22,111)   700,580 420,588  
Total Assets 14,667,654   14,231,702   14,667,654 14,231,702  
Total Liabilities 1,027,958   1,380,925   1,027,958 1,380,925  
Revenues from Intercompany Sales - eliminated from sales above 90,443   4,687   139,644 105,216  
Depreciation and Amortization 26,436   2,745   74,081 46,425  
(Sales) Purchases of Long-lived Assets 1,371   (8,441)   5,548 1,152  
Overhead [Member]              
Revenues from External Customers      
Cost of Revenues      
Gross Profit      
Research & Development     165,098  
Selling, General & Administrative 427,312   313,994   939,294 701,378  
Total Operating Expenses 427,312   313,994   939,294 866,476  
Income (Loss) from Operations (427,312)   (313,994)   (939,294) (866,476)  
Other Income 846     846  
Funding from Paycheck Protection Program          
Interest Expense (5,579)   (12,102)   (12,689) (24,802)  
Total Other Income (Expense) (4,733)   (12,102)   (11,843) (24,802)  
Net Income (Loss) before Income Taxes (432,045)   (326,096)   (951,137) (891,278)  
Current Tax Benefit   45,268   12,072 (7,957)  
Deferred Tax (Expense) Benefit (51,021)   (101,141)   (83,761) (88,354)  
Total Income Tax (Expense) Benefit (51,021)   (55,873)   (71,689) (96,311)  
Net Income (Loss) (483,066)   (381,969)   (1,022,826) (987,589)  
Total Assets 966,418   1,050,834   966,418 1,050,834  
Total Liabilities 586,739   921,492   586,739 921,492  
Revenues from Intercompany Sales - eliminated from sales above 675,000   675,000   1,350,000 1,350,000  
Depreciation and Amortization 6,709   4,112   13,125 9,403  
(Sales) Purchases of Long-lived Assets $ 44,442   $ 14,554   $ 49,434 $ 48,519