Annual report pursuant to Section 13 and 15(d)

SUMMARY OF ACCOUNTING POLICIES (Tables)

v3.22.4
SUMMARY OF ACCOUNTING POLICIES (Tables)
 12 Months Ended
Oct. 31, 2022
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,  
    2022     2021  
             
Raw materials and parts   $ 7,219,344     $ 7,525,419  
Work in progress     383,427       919,619  
Finished goods     2,424,340       2,246,139  
Total Inventory   $ 10,027,111     $ 10,691,177  
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   2022     2021  
Numerator:                
Net Income   $ 4,301,221     $ 4,947,765  
                 
Denominator:                
Basic weighted average common shares outstanding     10,863,674       10,804,074  
Unused portion of options and restricted stock awards     417,673       505,666  
Diluted outstanding shares     11,281,347       11,309,740  
                 
Net income per share                
                 
Basic   $ 0.40     $ 0.46  
Diluted   $ 0.38     $ 0.44