Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income and Comprehensive Income

v3.19.3.a.u2
Consolidated Statements of Income and Comprehensive Income - USD ($)
12 Months Ended
Oct. 31, 2019
Oct. 31, 2018
Income Statement [Abstract]    
Net Revenues $ 25,056,934 $ 18,019,429
Cost of Revenues 8,627,615 5,357,067
Gross Profit 16,429,319 12,662,362
OPERATING EXPENSES    
Research & Development 2,801,331 2,571,714
Selling, General & Administrative 7,374,551 6,779,881
Total Operating Expenses 10,175,882 9,351,595
INCOME FROM OPERATIONS 6,253,437 3,310,767
OTHER INCOME (EXPENSE)    
Other Income 70,212 41,222
Interest Expense (91,096) (249,090)
Total Other Income (Expense) (20,884) (207,868)
NET INCOME BEFORE INCOME TAXES 6,232,553 3,102,899
INCOME TAX BENEFIT (EXPENSE)    
Current Tax Benefit 39,422 131,463
Deferred Tax (Expense) Benefit (1,046,776) 1,754,169
Total Income Tax Benefit (Expense) (1,007,354) 1,885,632
NET INCOME $ 5,225,199 $ 4,988,531
NET INCOME PER SHARE:    
Basic $ 0.49 $ 0.49
WEIGHTED AVERAGE SHARES:    
Basic 10,680,007 10,093,538
NET INCOME $ 5,225,199 $ 4,988,531
Other Comprehensive Income (Loss)    
Foreign Currency Translation Adjustment 93,255 (190,232)
Total Other Comprehensive Income (Loss) 93,255 (190,232)
COMPREHENSIVE INCOME $ 5,318,454 $ 4,798,299