INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2021

The provision (benefit) for income taxes comprises:

	October 31,			October 31,
	2021			2020
Current federal benefit	$	(25,429	)	$	(12,502	)
Foreign tax expense (benefit)		42,021			(38,161	)

Total current tax expense (benefit)		16,592			(50,663	)

Deferred federal expense		288,887			305,125
Deferred foreign benefit		-			(196,240	)

Deferred Tax Expense		288,887			108,885

Total Income Tax Expense	$	305,479		$	58,222

The expense for income taxes differed from the U.S. statutory rate due to the following:

	October 31,			October 31,
	2021			2020
Statutory tax rate		21.0	%		21.0	%
Change in deferred taxes		(18.4	)%		(17.1	)%
Alternative Minimum Tax (refund)		0.0	%		(1.1	)%
Foreign tax (benefit) expense		3.2	%		(1.1	)%

Total		5.8	%		1.7	%

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	October 31,			October 31,
	2021			2020
Noncurrent deferred tax assets
Temporary differences
U.S. NOL carryforwards	$	15,930		$	272,993
Stock option compensation		-			92,669
Restricted Stock Awards		72,970		$	-
Book/Tax Depreciation		(12,124	)		-
Foreign fixed assets		18,168			-
Foreign deferreds		-			196,240
Foreign NOL carryforwards		148,650			143,563

Total		243,594			705,465

Valuation allowance		(166,818	)		(143,563	)

Total Deferred Asset	$	76,776		$	561,902