Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.21.2
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
 3 Months Ended 9 Months Ended
Jul. 31, 2021
Apr. 30, 2021
Jan. 31, 2021
Jul. 31, 2020
Apr. 30, 2020
Jan. 31, 2020
Jul. 31, 2021
Jul. 31, 2020
Segment Reporting Information [Line Items]                
Revenues from External Customers $ 5,827,375     $ 5,396,036     $ 16,250,910 $ 15,366,233
Cost of Revenues 1,614,966     1,776,868     4,973,975 5,547,211
Gross Profit 4,212,409     3,619,168     11,276,935 9,819,022
Research & Development 675,766     772,641     1,904,186 2,414,547
Selling, General & Administrative 2,205,230     1,525,469     5,798,597 4,950,357
Total Operating Expenses 2,880,996     2,298,110     7,702,783 7,364,904
INCOME FROM OPERATIONS 1,331,413     1,321,058     3,574,152 2,454,118
Other Income 3,571     3,871     75,070 16,384
Funding from Paycheck Protection Program         648,872
Interest (Expense) (14,736)     (16,580)     (42,891) (54,650)
Total Other Income (Expense) (11,165)     (12,709)     681,051 (38,266)
INCOME BEFORE INCOME TAX EXPENSE 1,320,248     1,308,349     4,255,203 2,415,852
Current Tax (Expense) Benefit 418,329     1,584     753,017 13,063
Deferred Tax (Expense) Benefit (217,491)     (287,180)     (150,357) (324,469)
Total Income Tax Benefit (Expense) 200,838     (285,596)     602,660 (311,406)
NET INCOME 1,521,086 $ 2,207,933 $ 1,128,844 1,022,753 $ (265,080) $ 1,346,773 4,857,863 2,104,446
Total Assets 44,363,219           44,363,219  
Total Liabilities 3,384,211           3,384,211  
Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Revenues from External Customers 5,827,375     5,396,036     16,250,910 15,366,233
Cost of Revenues 1,614,966     1,776,868     4,973,975 5,547,211
Gross Profit 4,212,409     3,619,168     11,276,935 9,819,022
Research & Development 675,766     772,641     1,904,186 2,414,547
Selling, General & Administrative 2,205,230     1,525,469     5,798,597 4,950,357
Total Operating Expenses 2,880,996     2,298,110     7,702,783 7,364,904
INCOME FROM OPERATIONS 1,331,413     1,321,058     3,574,152 2,454,118
Other Income 3,571     3,871     75,070 16,384
Funding from Paycheck Protection Program           648,872  
Interest (Expense) (14,736)     (16,580)     (42,891) (54,650)
Total Other Income (Expense) (11,165)     (12,709)     681,051 (38,266)
INCOME BEFORE INCOME TAX EXPENSE 1,320,248     1,308,349     4,255,203 2,415,852
Current Tax (Expense) Benefit 418,329     1,584     753,017 13,063
Deferred Tax (Expense) Benefit (217,491)     (287,180)     (150,357) (324,469)
Total Income Tax Benefit (Expense) 200,838     (285,596)     602,660 (311,406)
NET INCOME 1,521,086     1,022,753     4,857,863 2,104,446
Total Assets 44,363,219     37,268,045     44,363,219 37,268,045
Total Liabilities 3,384,211     3,897,216     3,384,211 3,897,216
Revenues from Intercompany Sales - eliminated from sales above 1,211,951     1,857,288     3,576,635 2,935,639
Depreciation and Amortization 227,645     309,915     827,509 643,335
Purchases of Long-lived Assets 239,437     341,180     838,626 832,674
Marine Technology Business Products [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Revenues from External Customers 3,845,051     3,053,070     11,777,739 8,377,081
Cost of Revenues 545,243     653,117     2,462,219 1,715,647
Gross Profit 3,299,808     2,399,953     9,315,520 6,661,434
Research & Development 540,553     394,332     1,521,175 1,393,757
Selling, General & Administrative 860,539     496,772     2,394,986 2,056,947
Total Operating Expenses 1,401,092     891,104     3,916,161 3,450,704
INCOME FROM OPERATIONS 1,898,716     1,508,849     5,399,359 3,210,730
Other Income 3,554     3,745     74,173 16,242
Funding from Paycheck Protection Program           122,327  
Interest (Expense) (2,718)     (1,718)     (8,489) (7,345)
Total Other Income (Expense) 836     2,027     188,011 8,897
INCOME BEFORE INCOME TAX EXPENSE 1,899,552     1,510,876     5,587,370 3,219,627
Current Tax (Expense) Benefit 157,333     5,532     254,745 24,968
Deferred Tax (Expense) Benefit (338,098)     (236,356)     (356,164) (315,849)
Total Income Tax Benefit (Expense) (180,765)     (230,824)     (101,419) (290,881)
NET INCOME 1,718,787     1,280,052     5,485,951 2,928,746
Total Assets 28,820,472     22,149,613     28,820,472 22,149,613
Total Liabilities 2,159,921     1,737,007     2,159,921 1,737,007
Revenues from Intercompany Sales - eliminated from sales above 492,579     498,312     1,367,619 801,134
Depreciation and Amortization 195,103     261,975     707,761 539,567
Purchases of Long-lived Assets 201,198     317,892     745,405 758,619
Marine Engineering Business Services [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Revenues from External Customers 1,982,324     2,342,966     4,473,171 6,989,152
Cost of Revenues 1,069,723     1,123,751     2,511,756 3,831,564
Gross Profit 912,601     1,219,215     1,961,415 3,157,588
Research & Development 135,213     352,625     383,011 830,008
Selling, General & Administrative 616,378     515,547     1,736,004 1,678,882
Total Operating Expenses 751,591     868,172     2,119,015 2,508,890
INCOME FROM OPERATIONS 161,010     351,043     (157,600) 648,698
Other Income 17     126     51 142
Funding from Paycheck Protection Program           526,545  
Interest (Expense) (5,863)     (4,672)     (15,558) (12,313)
Total Other Income (Expense) (5,846)     (4,546)     511,038 (12,171)
INCOME BEFORE INCOME TAX EXPENSE 155,164     346,497     353,438 636,527
Current Tax (Expense) Benefit 260,996         498,666
Deferred Tax (Expense) Benefit 108,141     15,155     264,636 145,713
Total Income Tax Benefit (Expense) 369,137     15,155     763,302 145,713
NET INCOME 524,301     361,652     1,116,740 782,240
Total Assets 14,608,555     14,439,917     14,608,555 14,439,917
Total Liabilities 844,816     1,392,816     844,816 1,392,816
Revenues from Intercompany Sales - eliminated from sales above 44,372     8,976     184,016 109,505
Depreciation and Amortization 24,590     43,263     98,671 89,688
Purchases of Long-lived Assets 7,655     23,288     13,203 24,440
Overhead [Member] | Segment Reporting [Member]                
Segment Reporting Information [Line Items]                
Revenues from External Customers        
Cost of Revenues        
Gross Profit        
Research & Development     25,684     190,782
Selling, General & Administrative 728,313     513,150     1,667,607 1,214,528
Total Operating Expenses 728,313     538,834     1,667,607 1,405,310
INCOME FROM OPERATIONS (728,313)     (538,834)     (1,667,607) (1,405,310)
Other Income         846
Funding from Paycheck Protection Program            
Interest (Expense) (6,155)     (10,190)     (18,844) (34,992)
Total Other Income (Expense) (6,155)     (10,190)     (17,998) (34,992)
INCOME BEFORE INCOME TAX EXPENSE (734,468)     (549,024)     (1,685,605) (1,440,302)
Current Tax (Expense) Benefit     (3,948)     (394) (11,905)
Deferred Tax (Expense) Benefit 12,466     (65,979)     (58,829) (154,333)
Total Income Tax Benefit (Expense) 12,466     (69,927)     (59,223) (166,238)
NET INCOME (722,002)     (618,951)     (1,744,828) (1,606,540)
Total Assets 934,192     678,515     934,192 678,515
Total Liabilities 379,474     767,393     379,474 767,393
Revenues from Intercompany Sales - eliminated from sales above 675,000     1,350,000     2,025,000 2,025,000
Depreciation and Amortization 7,952     4,677     21,077 14,080
Purchases of Long-lived Assets $ 30,584         $ 80,018 $ 49,615