SCHEDULE OF SEGMENT REPORTING INFORMATION |
SCHEDULE
OF SEGMENT REPORTING INFORMATION
|
|
Marine
Technology Business (Products) |
|
|
Marine
Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended October 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
15,804,222 |
|
|
$ |
5,527,305 |
|
|
$ |
- |
|
|
$ |
21,331,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
3,169,835 |
|
|
|
3,391,974 |
|
|
|
- |
|
|
|
6,561,809 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
12,634,387 |
|
|
|
2,135,331 |
|
|
|
- |
|
|
|
14,769,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
2,509,107 |
|
|
|
473,569 |
|
|
|
- |
|
|
|
2,982,676 |
|
Selling, General &
Administrative |
|
|
3,220,883 |
|
|
|
2,284,997 |
|
|
|
2,409,695 |
|
|
|
7,915,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
5,729,990 |
|
|
|
2,758,566 |
|
|
|
2,409,695 |
|
|
|
10,898,251 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
6,904,397 |
|
|
|
(623,235 |
) |
|
|
(2,409,695 |
) |
|
|
3,871,467 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
354,373 |
|
|
|
1,079,374 |
|
|
|
1,635 |
|
|
|
1,435,382 |
|
Interest Expense |
|
|
(12,588 |
) |
|
|
(19,668 |
) |
|
|
(21,349 |
) |
|
|
(53,605 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Other Income (Expense) |
|
|
341,785 |
|
|
|
1,059,706 |
|
|
|
(19,714 |
) |
|
|
1,381,777 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax (Expense) Benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit (Expense) |
|
|
35,032 |
|
|
|
(51,624 |
)
|
|
|
- |
|
|
|
(16,592 |
) |
Deferred Tax (Expense)
Benefit |
|
|
(418,338 |
) |
|
|
409,205 |
|
|
|
(279,754 |
) |
|
|
(288,887 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Income Tax (Expense)
Benefit |
|
|
(383,306 |
) |
|
|
357,581 |
|
|
|
(279,754 |
) |
|
|
(305,479 |
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Income (Loss) |
|
$ |
6,862,876 |
|
|
$ |
794,052 |
|
|
$ |
(2,709,163 |
) |
|
$ |
4,947,765 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
30,631,442 |
|
|
$ |
14,117,747 |
|
|
$ |
716,230 |
|
|
$ |
45,465,419 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
3,166,999 |
|
|
$ |
849,306 |
|
|
$ |
400,041 |
|
|
$ |
4,416,346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated
from sales above |
|
$ |
2,075,387 |
|
|
$ |
355,608 |
|
|
$ |
3,470,000 |
|
|
$ |
5,900,995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
780,434 |
|
|
$ |
114,022 |
|
|
$ |
29,617 |
|
|
$ |
924,073 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
793,995 |
|
|
$ |
51,907 |
|
|
$ |
118,302 |
|
|
$ |
964,204 |
|
CODA
OCTOPUS GROUP, INC.
Notes
to the Consolidated Financial Statements
October
31, 2021 and 2020
NOTE
12 -SEGMENT ANALYSIS (Continued)
|
|
Marine
Technology Business (Products) |
|
|
Marine
Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended October 31, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
11,278,181 |
|
|
$ |
8,765,629 |
|
|
$ |
- |
|
|
$ |
20,043,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
2,254,008 |
|
|
|
5,060,354 |
|
|
|
- |
|
|
|
7,314,362 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
9,024,173 |
|
|
|
3,705,275 |
|
|
|
- |
|
|
|
12,729,448 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
1,955,364 |
|
|
|
1,042,243 |
|
|
|
190,782 |
|
|
|
3,188,389 |
|
Selling, General &
Administrative |
|
|
2,779,662 |
|
|
|
2,260,849 |
|
|
|
1,696,783 |
|
|
|
6,737,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
4,735,026 |
|
|
|
3,303,092 |
|
|
|
1,887,565 |
|
|
|
9,925,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
4,289,147 |
|
|
|
402,183 |
|
|
|
(1,887,565 |
) |
|
|
2,803,765 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
141,511 |
|
|
|
526,734 |
|
|
|
- |
|
|
|
668,245 |
|
Interest (Expense) |
|
|
(10,612 |
) |
|
|
(15,672 |
) |
|
|
(43,919 |
) |
|
|
(70,203 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Other Income (Expense) |
|
|
130,899 |
|
|
|
511,062 |
|
|
|
(43,919 |
) |
|
|
598,042 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax (Expense) Benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit (Expense) |
|
|
63,590 |
|
|
|
- |
|
|
|
(12,927 |
) |
|
|
50,663 |
|
Deferred Tax (Expense)
Benefit |
|
|
(196,664 |
) |
|
|
273,666 |
|
|
|
(185,887 |
) |
|
|
(108,885 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Income Tax (Expense) Benefit |
|
|
(133,074 |
) |
|
|
273,666 |
|
|
|
(198,814 |
) |
|
|
(58,222 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Income (Loss) |
|
$ |
4,286,972 |
|
|
$ |
1,186,911 |
|
|
$ |
(2,130,298 |
) |
|
$ |
3,343,585 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
22,200,123 |
|
|
$ |
14,347,827 |
|
|
$ |
1,491,201 |
|
|
$ |
38,039,151 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
1,572,314 |
|
|
$ |
1,321,011 |
|
|
$ |
749,558 |
|
|
$ |
3,642,883 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated
from sales above |
|
$ |
997,150 |
|
|
$ |
354,373 |
|
|
$ |
2,700,000 |
|
|
$ |
4,051,523 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
678,449 |
|
|
$ |
105,775 |
|
|
$ |
22,462 |
|
|
$ |
806,686 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
811,352 |
|
|
$ |
19,660 |
|
|
$ |
167,323 |
|
|
$ |
998,335 |
|
|