SCHEDULE OF SEGMENT REPORTING INFORMATION |
SCHEDULE
OF SEGMENT REPORTING INFORMATION
|
|
Marine
Technology Business (Products) |
|
|
Marine
Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended October 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Revenues |
|
$ |
14,724,688 |
|
|
$ |
7,501,115 |
|
|
$ |
- |
|
|
$ |
22,225,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost
of Revenues |
|
|
2,941,569 |
|
|
|
4,093,546 |
|
|
|
- |
|
|
|
7,035,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
Profit |
|
|
11,783,119 |
|
|
|
3,407,569 |
|
|
|
- |
|
|
|
15,190,688 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research
& Development |
|
|
2,207,500 |
|
|
|
30,420 |
|
|
|
- |
|
|
|
2,237,920 |
|
Selling,
General & Administrative |
|
|
2,563,554 |
|
|
|
2,654,565 |
|
|
|
2,730,585 |
|
|
|
7,948,704 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Operating Expenses |
|
|
4,771,054 |
|
|
|
2,684,985 |
|
|
|
2,730,585 |
|
|
|
10,186,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
(Loss) from Operations |
|
|
7,012,065 |
|
|
|
722,584 |
|
|
|
(2,730,585 |
) |
|
|
5,004,064 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Income |
|
|
55,715 |
|
|
|
79,204 |
|
|
|
3,056 |
|
|
|
137,975 |
|
Interest
Expense |
|
|
(9,233 |
) |
|
|
(71 |
) |
|
|
(400 |
) |
|
|
(9,704 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Other Income |
|
|
46,482 |
|
|
|
79,133 |
|
|
|
2,656 |
|
|
|
128,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
Tax (Expense) Benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
Tax (Expense) Benefit |
|
|
(868,162 |
) |
|
|
39,422 |
|
|
|
(176,400 |
) |
|
|
(1,005,140 |
) |
Deferred
Tax Benefit (Expense) |
|
|
31,907 |
|
|
|
(41,657 |
) |
|
|
183,776 |
|
|
|
174,026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Income Tax (Expense) Benefit |
|
|
(836,255 |
) |
|
|
(2,235 |
)
|
|
|
7,376 |
|
|
|
(831,114 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Income (Loss) |
|
$ |
6,222,292 |
|
|
$ |
799,482 |
|
|
$ |
(2,720,553 |
) |
|
$ |
4,301,221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental
Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Assets |
|
$ |
33,348,805 |
|
|
$ |
12,662,109 |
|
|
$ |
916,544 |
|
|
$ |
46,927,458 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Liabilities |
|
$ |
2,432,750 |
|
|
$ |
526,195 |
|
|
$ |
585,704 |
|
|
$ |
3,544,649 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
from Intercompany Sales - eliminated from sales above |
|
$ |
2,406,717 |
|
|
$ |
396,015 |
|
|
$ |
2,720,000 |
|
|
$ |
5,522,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
and Amortization |
|
$ |
602,583 |
|
|
$ |
96,776 |
|
|
$ |
39,370 |
|
|
$ |
738,729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases
of Long-lived Assets |
|
$ |
1,123,475 |
|
|
$ |
36,862 |
|
|
$ |
90,887 |
|
|
$ |
1,251,224 |
|
CODA
OCTOPUS GROUP, INC.
Notes
to the Consolidated Financial Statements
October
31, 2022 and 2021
NOTE
13 -SEGMENT ANALYSIS (Continued)
|
|
Marine
Technology Business (Products) |
|
|
Marine
Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended October 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Revenues |
|
$ |
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 |
|
|
3,231,733 |
|
|
|
2,304,300 |
|
|
|
2,413,492 |
|
|
|
7,949,525 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Operating Expenses |
|
|
5,740,840 |
|
|
|
2,777,869 |
|
|
|
2,413,492 |
|
|
|
10,932,201 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
(Loss) from Operations |
|
|
6,893,547 |
|
|
|
(642,538 |
) |
|
|
(2,413,492 |
) |
|
|
3,837,517 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Income |
|
|
354,373 |
|
|
|
1,079,374 |
|
|
|
1,635 |
|
|
|
1,435,382 |
|
Interest
Expense |
|
|
(1,738 |
) |
|
|
(365 |
) |
|
|
(17,552 |
) |
|
|
(19,655 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Other Income (Expense) |
|
|
352,635 |
|
|
|
1,079,009 |
|
|
|
(15,917 |
) |
|
|
1,415,727 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|