Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Oct. 31, 2020
Oct. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,343,585 $ 5,225,199
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 806,686 833,775
Stock based compensation 610,780 650,409
Deferred tax asset 69,782 1,122,485
Funding from Paycheck Protection Program recognized as income (648,871)
Loss on the sale of property and equipment 9,215
(Increase) decrease in operating assets:    
Accounts receivable 2,417,311 (1,105,349)
Inventory (3,791,759) (1,527,271)
Unbilled receivables 1,418,062 733,754
Other current assets 54,016 (78,762)
Prepaid expenses (91,064) 29,339
Increase (decrease) in operating liabilities:    
Accounts payable and other current liabilities 18,137 (176,560)
Deferred revenue 227,741 321,915
Net Cash Provided by Operating Activities 4,434,406 6,391,269
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (835,132) (2,263,007)
Proceeds from sales of property and equipment 719,077
Purchases of other goodwill and intangible assets (163,203) (38,628)
Net Cash Used in Investing Activities (998,335) (1,582,558)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of notes (486,466) (964,665)
Disgorgement of stock sales 166,514
Proceeds from Paycheck Protection Program 648,871
Issuance of common stock for cash 105,446
Net Cash Provided (Used) in Financing Activities 162,405 (692,705)
EFFECT OF CURRENCY EXCHANGE RATE ON CHANGES IN CASH (185,870) 93,255
NET INCREASE IN CASH 3,412,606 4,209,261
CASH AT THE BEGINNING OF THE PERIOD 11,721,683 7,512,422
CASH AT THE END OF THE PERIOD 15,134,289 11,721,683
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest 70,202 91,097
Cash paid for taxes $ 7,840