INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2023

The provision (benefit) for income taxes comprises:

	October 31,			October 31,
	2023			2022

Current federal expense	$	264,955		$	849,580
Current state income tax expense		5,789			159,900
Foreign tax (benefit)		(22,089	)		(4,340	)

Total current tax expense		248,655			1,005,140

Deferred federal expense (benefit)		14,941			(174,026	)
Deferred state expense		3,913			-
Deferred foreign tax expense		29,570			-

Deferred tax expense (benefit)		48,424			(174,026	)

Total Income Tax Expense	$	297,079		$	831,114

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

	October 31,			October 31,
	2023			2022

Statutory US tax rate		21.0	%		21.0	%
R&D Relief		(9.7	)%		(10.6	)%
Change in valuation allowance		(3.4	)%		3.7	%
Foreign tax benefit including GILTI, net		2.1	%		(0.9	)%
State Income Tax		(1.3	)%		3.0	%

Total		8.7	%		16.2	%

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

	October 31,			October 31,
	2023			2022
Noncurrent deferred tax assets (liabilities)
Temporary differences
U.S. NOL carryforwards	$	-		$	-
Deferred Revenue		-			4,830

Restricted Stock Awards		263,218			272,841
Book/Tax Depreciation		(21,554	)		(17,861	)
Foreign fixed assets		(218,045	)		(84,381
Foreign capital loss carryforwards		11,182			-
Foreign NOL carryforwards		176,585			409,100

Total		211,386			584,529

Valuation allowance		-			(324,719	)

Total Deferred Asset	$	211,386		$	259,810