Annual report pursuant to Section 13 and 15(d)

SUMMARY OF ACCOUNTING POLICIES (Tables)

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SUMMARY OF ACCOUNTING POLICIES (Tables)
 12 Months Ended
Oct. 31, 2021
Accounting Policies [Abstract]  
SCHEDULE OF COMPONENTS OF INVENTORY

Inventory is stated at the lower of cost (First In, First Out method) or net realizable value. Inventory consisted of the following components:

 

    October 31,     October 31,  
    2021     2020  
             
Raw materials and parts   $ 7,525,419     $ 7,322,688  
Work in progress     919,619       698,756  
Finished goods     2,246,139       1,120,829  
Total Inventory   $ 10,691,177     $ 9,142,273  
SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED

Following is a reconciliation of earnings from continuing operations and weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share:

 

             
    Year     Year  
    Ended     Ended  
    October 31,     October 31,  
Fiscal Period   2021     2020  
Numerator:                
Net Income   $ 4,947,765     $ 3,343,585  
                 
Denominator:                
Basic weighted average common shares outstanding     10,804,074       10,733,799  
Unused portion of options and restricted stock awards     505,666       561,000  
Diluted outstanding shares     11,309,740       11,294,799  
                 
Net income per share                
                 
Basic   $ 0.46     $ 0.31  
Diluted   $ 0.44     $ 0.30  
SCHEDULE OF OTHER INCOME

Other Income consisted of the following components:

 

    October 31,     October 31,  
    2021     2020  
             
PPP Loans   $ 648,872     $ 648,871  
Employee Retention Credits payroll tax credits     701,568       -  
Other income     84,942      

19,374

  
                 
Total Other Income, net   $ 1,435,382     $ 668,245