Annual report pursuant to Section 13 and 15(d)

Segment Analysis - Schedule of Segment Reporting Information (Details)

v3.19.3.a.u2
Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)
 12 Months Ended
Oct. 31, 2019
Oct. 31, 2018
Revenues from External Customers $ 25,056,934 $ 18,019,429
Cost of Revenues 8,627,615 5,357,067
Gross Profit 16,429,319 12,662,362
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 (Loss) from Operations 6,253,437 3,310,767
Other Income 70,212 41,222
Interest Expense (91,096) (249,090)
Total Other Income (Expense) (20,884) (207,868)
Net Income (Loss) before Income Taxes 6,232,553 3,102,899
Current Tax Benefit (Expense) 39,422 131,463
Deferred Tax 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
Total Assets 34,330,993 28,736,611
Total Liabilities 3,703,220 4,349,661
Revenues from Intercompany Sales - eliminated from sales above 4,435,698 4,713,825
Depreciation and Amortization 833,775 774,743
Purchases of Long-lived Assets 2,263,007 565,290
Marine Technology Business (Products) [Member]    
Revenues from External Customers 12,908,110 11,449,416
Cost of Revenues 2,519,768 1,894,808
Gross Profit 10,388,342 9,554,608
Research & Development 2,208,749 2,048,285
Selling, General & Administrative 3,080,134 2,882,049
Total Operating Expenses 5,288,883 4,930,334
Income (Loss) from Operations 5,099,459 4,624,274
Other Income 70,186 39,122
Interest Expense (10,564) (12,154)
Total Other Income (Expense) 59,622 26,968
Net Income (Loss) before Income Taxes 5,159,081 4,651,242
Current Tax Benefit (Expense) (9,391) 133,419
Deferred Tax Benefit (336,101)
Total Income Tax Benefit (Expense) (345,492) 133,419
Net Income 4,813,589 4,784,661
Total Assets 19,206,401 15,061,693
Total Liabilities 1,573,572 1,142,661
Revenues from Intercompany Sales - eliminated from sales above 1,590,548 1,176,438
Depreciation and Amortization 581,942 448,620
Purchases of Long-lived Assets 2,183,009 487,159
Marine Engineering Business (Services) [Member]    
Revenues from External Customers 12,148,824 6,570,013
Cost of Revenues 6,107,847 3,462,259
Gross Profit 6,040,977 3,107,754
Research & Development 146,061 523,429
Selling, General & Administrative 2,492,410 2,366,226
Total Operating Expenses 2,638,471 2,889,655
Income (Loss) from Operations 3,402,506 218,099
Other Income 26 2,100
Interest Expense (14,820) (59,599)
Total Other Income (Expense) (14,794) (57,499)
Net Income (Loss) before Income Taxes 3,387,712 160,600
Current Tax Benefit (Expense) 33,454
Deferred Tax Benefit (496,318)
Total Income Tax Benefit (Expense) (462,864)
Net Income 2,924,848 160,600
Total Assets 14,165,120 11,674,640
Total Liabilities 962,641 1,498,828
Revenues from Intercompany Sales - eliminated from sales above 145,150 437,387
Depreciation and Amortization 236,092 311,980
Purchases of Long-lived Assets 81,446 76,041
Overhead [Member]    
Revenues from External Customers
Cost of Revenues
Gross Profit
Research & Development 446,521
Selling, General & Administrative 1,802,007 1,531,606
Total Operating Expenses 2,248,528 1,531,606
Income (Loss) from Operations (2,248,528) (1,531,606)
Other Income
Interest Expense (65,712) (177,337)
Total Other Income (Expense) (65,712) (177,337)
Net Income (Loss) before Income Taxes (2,314,240) (1,708,943)
Current Tax Benefit (Expense) 15,359 (1,956)
Deferred Tax Benefit (214,357) 1,754,169
Total Income Tax Benefit (Expense) (198,998) 1,752,213
Net Income (2,513,238) 43,270
Total Assets 959,472 2,000,278
Total Liabilities 1,167,007 1,708,172
Revenues from Intercompany Sales - eliminated from sales above 2,700,000 3,100,000
Depreciation and Amortization 15,741 14,143
Purchases of Long-lived Assets $ 37,180 $ 76,561