Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill (Tables)

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Intangible Assets and Goodwill (Tables)
 12 Months Ended
Oct. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Carrying Value of Identifiable Intangible Assets

The identifiable intangible assets acquired and their carrying value as of October 31, 2018 and 2017, are as follows:

 

    October 31, 2018     October 31, 2017  
             
Customer relationships (weighted average life of 10 years)   $ 896,624     $ 896,624  
Non-compete agreements (weighted average life of 3 years)     198,911       198,911  
Patents and other (weighted average life of 10 years)     366,036       294,175  
                 
Total identifiable intangible assets - gross carrying value     1,461,571       1,389,710  
                 
Less: accumulated amortization     (1,229,727 )     (1,182,537 )
                 
Total intangible assets, net   $ 231,844     $ 207,173  

 
Schedule of Estimated Future Amortization Expenses

Future estimated annual amortization expenses as of October 31, 2018 as follows: 

 

Years Ending October 31,   Amount  
2019     46,318  
2020     39,121  
2021     34,620  
2022     34,297  
2023     30,831  
Thereafter     46,657  
         
Totals   $ 231,844  

Schedule of Goodwill

The carrying amount of goodwill as of October 31, 2018 and 2017, respectively, are recorded below:

 

    October 31, 2018     October 31, 2017  
Breakout of Goodwill:                
                 
Coda Octopus Colmek, Inc.   $ 2,038,669     $ 2,038,669  
Coda Octopus Products, Ltd     62,315       62,315  
Coda Octopus Martech, Ltd     1,281,124       1,281,124  
                 
Total Goodwill   $ 3,382,108     $ 3,382,108