Annual report pursuant to Section 13 and 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.22.4
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
12 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Segment Reporting Information [Line Items]    
Net Revenues $ 22,225,803 $ 21,331,527
Cost of Revenues 7,035,115 6,561,809
Gross Profit 15,190,688 14,769,718
Research & Development 2,237,920 2,982,676
Selling, General & Administrative 7,948,704 7,949,525
Total Operating Expenses 10,186,624 10,932,201
INCOME FROM OPERATIONS 5,004,064 3,837,517
Other Income (Expense)    
Other Income 137,975 1,435,382
Interest Expense (9,704) (19,655)
Total Other Income 128,271 1,415,727
INCOME BEFORE INCOME TAX EXPENSE 5,132,335 5,253,244
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) (1,005,140) (16,592)
Deferred Tax (Expense) Benefit 174,026 (288,887)
Total Income Tax Expense (831,114) (305,479)
NET INCOME 4,301,221 4,947,765
Supplemental Disclosures    
Total Assets 46,927,458 45,465,419
Total Liabilities 3,544,649 4,416,346
Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 22,225,803 21,331,527
Cost of Revenues 7,035,115 6,561,809
Gross Profit 15,190,688 14,769,718
Research & Development 2,237,920 2,982,676
Selling, General & Administrative 7,948,704 7,949,525
Total Operating Expenses 10,186,624 10,932,201
INCOME FROM OPERATIONS 5,004,064 3,837,517
Other Income (Expense)    
Other Income 137,975 1,435,382
Interest Expense (9,704) (19,655)
Total Other Income 128,271 1,415,727
INCOME BEFORE INCOME TAX EXPENSE 5,132,335 5,253,244
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) (1,005,140) (16,592)
Deferred Tax (Expense) Benefit 174,026 (288,887)
Total Income Tax Expense (831,114) (305,479)
NET INCOME 4,301,221 4,947,765
Supplemental Disclosures    
Total Assets 46,927,458 45,465,419
Total Liabilities 3,544,649 4,416,346
Revenues from Intercompany Sales - eliminated from sales above 5,522,732 5,900,995
Depreciation and Amortization 738,729 924,073
Purchases of Long-lived Assets 1,251,224 964,204
Marine Technology Business Products [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 14,724,688 15,804,222
Cost of Revenues 2,941,569 3,169,835
Gross Profit 11,783,119 12,634,387
Research & Development 2,207,500 2,509,107
Selling, General & Administrative 2,563,554 3,231,733
Total Operating Expenses 4,771,054 5,740,840
INCOME FROM OPERATIONS 7,012,065 6,893,547
Other Income (Expense)    
Other Income 55,715 354,373
Interest Expense (9,233) (1,738)
Total Other Income 46,482 352,635
INCOME BEFORE INCOME TAX EXPENSE 7,058,547 7,246,182
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) (868,162) 35,032
Deferred Tax (Expense) Benefit 31,907 (418,338)
Total Income Tax Expense (836,255) (383,306)
NET INCOME 6,222,292 6,862,876
Supplemental Disclosures    
Total Assets 33,348,805 30,631,442
Total Liabilities 2,432,750 3,166,999
Revenues from Intercompany Sales - eliminated from sales above 2,406,717 2,075,387
Depreciation and Amortization 602,583 780,434
Purchases of Long-lived Assets 1,123,475 793,995
Marine Engineering Business Services [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues 7,501,115 5,527,305
Cost of Revenues 4,093,546 3,391,974
Gross Profit 3,407,569 2,135,331
Research & Development 30,420 473,569
Selling, General & Administrative 2,654,565 2,304,300
Total Operating Expenses 2,684,985 2,777,869
INCOME FROM OPERATIONS 722,584 (642,538)
Other Income (Expense)    
Other Income 79,204 1,079,374
Interest Expense (71) (365)
Total Other Income 79,133 1,079,009
INCOME BEFORE INCOME TAX EXPENSE 801,717 436,471
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) 39,422 (51,624)
Deferred Tax (Expense) Benefit (41,657) 409,205
Total Income Tax Expense (2,235) 357,581
NET INCOME 799,482 794,052
Supplemental Disclosures    
Total Assets 12,662,109 14,117,747
Total Liabilities 526,195 849,306
Revenues from Intercompany Sales - eliminated from sales above 396,015 355,608
Depreciation and Amortization 96,776 114,022
Purchases of Long-lived Assets 36,862 51,907
Overhead [Member] | Segment Reporting [Member]    
Segment Reporting Information [Line Items]    
Net Revenues
Cost of Revenues
Gross Profit
Research & Development
Selling, General & Administrative 2,730,585 2,413,492
Total Operating Expenses 2,730,585 2,413,492
INCOME FROM OPERATIONS (2,730,585) (2,413,492)
Other Income (Expense)    
Other Income 3,056 1,635
Interest Expense (400) (17,552)
Total Other Income 2,656 (15,917)
INCOME BEFORE INCOME TAX EXPENSE (2,727,929) (2,429,409)
Income Tax (Expense) Benefit    
Current Tax Benefit (Expense) (176,400)
Deferred Tax (Expense) Benefit 183,776 (279,754)
Total Income Tax Expense 7,376 (279,754)
NET INCOME (2,720,553) (2,709,163)
Supplemental Disclosures    
Total Assets 916,544 716,230
Total Liabilities 585,704 400,041
Revenues from Intercompany Sales - eliminated from sales above 2,720,000 3,470,000
Depreciation and Amortization 39,370 29,617
Purchases of Long-lived Assets $ 90,887 $ 118,302