Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Oct. 31, 2021
Oct. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 4,947,765 $ 3,343,585
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 924,073 806,686
Stock based compensation 1,050,821 610,780
Deferred income taxes 485,126 69,782
Funding from Paycheck Protection Program recognized as income (648,872) (648,871)
(Increase) decrease in operating assets:    
Accounts receivable (2,193,336) 2,417,311
Inventory (1,063,163) (3,791,759)
Unbilled receivables (219,084) 1,418,062
Other current assets (383,449) 54,016
Prepaid expenses (913,123) (91,064)
Increase (decrease) in operating liabilities:    
Accounts payable and other current liabilities 326,761 18,137
Deferred revenue 956,251 227,741
Net Cash Provided by Operating Activities 3,269,770 4,434,406
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (850,894) (835,132)
Purchases of other intangible assets (113,310) (163,203)
Net Cash Used in Investing Activities (964,204) (998,335)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of note payable (509,549) (486,466)
Proceeds from Paycheck Protection Program 648,872 648,871
Net Cash Provided by Financing Activities 139,323 162,405
EFFECT OF CURRENCY TRANSLATION ON CHANGES IN CASH 168,478 (185,870)
NET INCREASE IN CASH 2,613,367 3,412,606
CASH AT THE BEGINNING OF THE PERIOD 15,134,289 11,721,683
CASH AT THE END OF THE PERIOD 17,747,656 15,134,289
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 53,605 70,202
Cash paid for taxes