Annual report pursuant to Section 13 and 15(d)

Segment Analysis - Schedule of Segment Reporting Information (Details)

v3.20.4
Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)
 12 Months Ended
Oct. 31, 2020
Oct. 31, 2019
Revenues from External Customers $ 20,043,810 $ 25,056,934
Cost of Revenues 7,314,362 8,627,615
Gross Profit 12,729,448 16,429,319
Research & Development 3,188,389 2,801,331
Selling, General & Administrative 6,737,294 7,374,551
Total Operating Expenses 9,925,683 10,175,882
Income (Loss) from Operations 2,803,765 6,253,437
Other Income 19,374 70,212
Funding from Paycheck Protection Program 648,871
Interest (Expense) (70,203) (91,096)
Total Other Income (Expense) 598,042 (20,884)
Net Income (Loss) before Income Taxes 3,401,807 6,232,553
Current Tax Benefit (Expense) (50,663) (39,422)
Deferred Tax (Expense) Benefit (108,885) (1,046,776)
Total Income Tax (Expense) Benefit (58,222) (1,007,354)
NET INCOME 3,343,585 5,225,199
Total Assets 38,039,151 34,511,244
Total Liabilities 3,642,883 3,883,471
Revenues from Intercompany Sales - eliminated from sales above 4,051,523 4,435,698
Depreciation and Amortization 806,686 833,775
Purchases of Long-lived Assets 998,335 2,301,635
Marine Technology Business (Products) [Member]    
Revenues from External Customers 11,278,181 12,908,110
Cost of Revenues 2,254,008 2,519,768
Gross Profit 9,024,173 10,388,342
Research & Development 1,955,364 2,208,749
Selling, General & Administrative 2,779,662 3,080,134
Total Operating Expenses 4,735,026 5,288,883
Income (Loss) from Operations 4,289,147 5,099,459
Other Income 19,184 70,186
Funding from Paycheck Protection Program 122,327  
Interest (Expense) (10,612) (10,564)
Total Other Income (Expense) 130,899 59,622
Net Income (Loss) before Income Taxes 4,420,046 5,159,081
Current Tax Benefit (Expense) 63,590 (9,391)
Deferred Tax (Expense) Benefit (196,664) (336,101)
Total Income Tax (Expense) Benefit (133,074) (345,492)
NET INCOME 4,286,972 4,813,589
Total Assets 22,200,123 19,386,652
Total Liabilities 1,572,314 1,753,823
Revenues from Intercompany Sales - eliminated from sales above 997,150 1,590,548
Depreciation and Amortization 678,449 581,942
Purchases of Long-lived Assets 811,352 2,183,009
Marine Engineering Business (Services) [Member]    
Revenues from External Customers 8,765,629 12,148,824
Cost of Revenues 5,060,354 6,107,847
Gross Profit 3,705,275 6,040,977
Research & Development 1,042,243 146,061
Selling, General & Administrative 2,260,849 2,492,410
Total Operating Expenses 3,303,092 2,638,471
Income (Loss) from Operations 402,183 3,402,506
Other Income 190 26
Funding from Paycheck Protection Program 526,544  
Interest (Expense) (15,672) (14,820)
Total Other Income (Expense) 511,062 (14,794)
Net Income (Loss) before Income Taxes 913,245 3,387,712
Current Tax Benefit (Expense) 33,454
Deferred Tax (Expense) Benefit 273,666 (496,318)
Total Income Tax (Expense) Benefit 273,666 (462,864)
NET INCOME 1,186,911 2,924,848
Total Assets 14,347,827 14,165,120
Total Liabilities 1,321,011 962,641
Revenues from Intercompany Sales - eliminated from sales above 354,373 145,150
Depreciation and Amortization 105,775 236,092
Purchases of Long-lived Assets 19,660 81,446
Overhead [Member]    
Revenues from External Customers
Cost of Revenues
Gross Profit
Research & Development 190,782 446,521
Selling, General & Administrative 1,696,783 1,802,007
Total Operating Expenses 1,887,565 2,248,528
Income (Loss) from Operations (1,887,565) (2,248,528)
Other Income
Funding from Paycheck Protection Program  
Interest (Expense) (43,919) (65,712)
Total Other Income (Expense) (43,919) (65,712)
Net Income (Loss) before Income Taxes (1,931,484) (2,314,240)
Current Tax Benefit (Expense) (12,927) 15,359
Deferred Tax (Expense) Benefit (185,887) (214,357)
Total Income Tax (Expense) Benefit (198,814) (198,998)
NET INCOME (2,130,298) (2,513,238)
Total Assets 1,491,201 959,472
Total Liabilities 749,558 1,167,007
Revenues from Intercompany Sales - eliminated from sales above 2,700,000 2,700,000
Depreciation and Amortization 22,462 15,741
Purchases of Long-lived Assets $ 167,323 $ 37,180