Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Oct. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF CARRYING VALUE OF IDENTIFIABLE INTANGIBLE ASSETS

 SCHEDULE OF CARRYING VALUE OF IDENTIFIABLE INTANGIBLE ASSETS

    October 31,     October 31,  
    2021     2020  
             
Customer relationships (weighted average life of 10 years)   $ 720,592     $ 720,592  
Non-compete agreements (weighted average life of 3 years)     198,911       198,911  
Patents and other (weighted average life of 10 years)     585,483       472,173  
                 
Total identifiable intangible assets - gross carrying value     1,504,986       1,391,676  
                 
Less: accumulated amortization     (1,092,711 )     (1,042,332 )
                 
Total intangible assets, net   $ 412,275     $ 349,344  
SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSES

Future estimated annual amortization expenses as of October 31, 2021 is as follows:

 

       
Years Ending October 31,   Amount  
2022     54,429  
2023     52,089  
2024     42,877  
2025     27,533  
2026     24,442  
Thereafter     210,905  
         
Totals   $ 412,275  
SCHEDULE OF GOODWILL

Goodwill consisted of the following as of:

 

    October 31,     October 31,  
    2021     2020  
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