Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF SEGMENT REPORTING INFORMATION (Details)

v3.22.1
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($)
 3 Months Ended 6 Months Ended
Apr. 30, 2022
Jan. 31, 2022
Apr. 30, 2021
Jan. 31, 2021
Apr. 30, 2022
Apr. 30, 2021
Segment Reporting Information [Line Items]            
Net Revenues $ 4,984,838   $ 5,373,076   $ 10,823,046 $ 10,423,535
Cost of Revenues 1,953,132   1,623,472   3,631,406 3,359,009
Gross Profit 3,031,706   3,749,604   7,191,640 7,064,526
Research & Development 517,378   645,281   1,190,268 1,228,420
Selling, General & Administrative 2,033,116   1,788,534   4,155,106 3,610,225
Total Operating Expenses 2,550,494   2,433,815   5,345,374 4,838,645
INCOME FROM OPERATIONS 481,212   1,315,789   1,846,266 2,225,881
Other Income (Expense)            
Other Income 14,497   69,445   94,491 71,499
Funding from Paycheck Protection Program   558,901   648,872
Interest Expense (2,502)   (5,108)   (2,902) (11,297)
Total Other Income 11,995   623,238   91,589 709,074
INCOME BEFORE INCOME TAX EXPENSE 493,207   1,939,027   1,937,855 2,934,955
Income Tax (Expense) Benefit            
Current Tax Benefit 109,150   309,962   (176,459) 334,688
Deferred Tax (Expense) Benefit 8,946   (41,056)   67,155 67,134
Total Income Tax Benefit (Expense) 118,096   268,906   (109,304) 401,822
NET INCOME 611,303 $ 1,217,248 2,207,933 $ 1,128,844 1,828,551 3,336,777
Supplemental Disclosures            
Total Assets 44,862,644       44,862,644  
Total Liabilities 3,319,878       3,319,878  
Segment Reporting [Member]            
Segment Reporting Information [Line Items]            
Net Revenues 4,984,838   5,373,076   10,823,046 10,423,535
Cost of Revenues 1,953,132   1,623,472   3,631,406 3,359,009
Gross Profit 3,031,706   3,749,604   7,191,640 7,064,526
Research & Development 517,378   645,281   1,190,268 1,228,420
Selling, General & Administrative 2,033,116   1,788,534   4,155,106 3,610,225
Total Operating Expenses 2,550,494   2,433,815   5,345,374 4,838,645
INCOME FROM OPERATIONS 481,212   1,315,789   1,846,266 2,225,881
Other Income (Expense)            
Other Income 14,497   69,445   94,491 71,499
Funding from Paycheck Protection Program     558,901     648,872
Interest Expense (2,502)   (5,108)   (2,902) (11,297)
Total Other Income 11,995   623,238   91,589 709,074
INCOME BEFORE INCOME TAX EXPENSE 493,207   1,939,027   1,937,855 2,934,955
Income Tax (Expense) Benefit            
Current Tax Benefit 109,150   309,962   (176,459) 334,688
Deferred Tax (Expense) Benefit 8,946   (41,056)   67,155 67,134
Total Income Tax Benefit (Expense) 118,096   268,906   (109,304) 401,822
NET INCOME 611,303   2,207,933   1,828,551 3,336,777
Supplemental Disclosures            
Total Assets 44,862,644   42,720,966   44,862,644 42,720,966
Total Liabilities 3,319,878   3,453,992   3,319,878 3,453,992
Revenues from Intercompany Sales - eliminated from sales above 1,148,024   1,269,854   2,253,242 2,364,684
Depreciation and Amortization 282,475   233,681   443,941 599,864
Purchases of Long-lived Assets 139,512   190,045   1,141,476 599,189
Marine Technology Business Products [Member] | Segment Reporting [Member]            
Segment Reporting Information [Line Items]            
Net Revenues 3,491,009   4,184,409   7,314,757 7,932,688
Cost of Revenues 816,033   1,022,701   1,388,325 1,916,976
Gross Profit 2,674,976   3,161,708   5,926,432 6,015,712
Research & Development 617,246   538,878   1,146,621 980,622
Selling, General & Administrative 569,451   804,140   1,327,947 1,540,218
Total Operating Expenses 1,186,697   1,343,018   2,474,568 2,520,840
INCOME FROM OPERATIONS 1,488,279   1,818,690   3,451,864 3,494,872
Other Income (Expense)            
Other Income 9,055   68,583   18,104 70,619
Funding from Paycheck Protection Program     122,327     122,327
Interest Expense (2,502)     (2,502)
Total Other Income 6,553   190,910   15,602 192,946
INCOME BEFORE INCOME TAX EXPENSE 1,494,832   2,009,600   3,467,466 3,687,818
Income Tax (Expense) Benefit            
Current Tax Benefit 279   72,292   (266,241) 84,945
Deferred Tax (Expense) Benefit (1,926)   (102,585)   4,781 (113,740)
Total Income Tax Benefit (Expense) (1,647)   (30,293)   (261,460) (28,795)
NET INCOME 1,493,185   1,979,307   3,206,006 3,659,023
Supplemental Disclosures            
Total Assets 30,503,346   27,086,894   30,503,346 27,086,894
Total Liabilities 2,255,971   1,839,295   2,255,971 1,839,295
Revenues from Intercompany Sales - eliminated from sales above 413,654   504,411   803,049 875,040
Depreciation and Amortization 241,469   200,536   377,127 512,658
Purchases of Long-lived Assets 84,969   144,232   1,071,062 544,207
Marine Engineering Business Services [Member] | Segment Reporting [Member]            
Segment Reporting Information [Line Items]            
Net Revenues 1,493,829   1,188,667   3,508,289 2,490,847
Cost of Revenues 1,137,099   600,771   2,243,081 1,442,033
Gross Profit 356,730   587,896   1,265,208 1,048,814
Research & Development (99,868)   106,403   43,647 247,798
Selling, General & Administrative 683,612   556,611   1,339,787 1,129,321
Total Operating Expenses 583,744   663,014   1,383,434 1,377,119
INCOME FROM OPERATIONS (227,014)   (75,118)   (118,226) (328,305)
Other Income (Expense)            
Other Income 4,098   16   75,043 34
Funding from Paycheck Protection Program     436,574     526,545
Interest Expense    
Total Other Income 4,098   436,590   75,043 526,579
INCOME BEFORE INCOME TAX EXPENSE (222,916)   361,472   (43,183) 198,274
Income Tax (Expense) Benefit            
Current Tax Benefit 146,890   237,670   170,926 237,670
Deferred Tax (Expense) Benefit (45,184)   112,550   (44,980) 264,636
Total Income Tax Benefit (Expense) 101,706   350,220   125,946 502,306
NET INCOME (121,210)   711,692   82,763 700,580
Supplemental Disclosures            
Total Assets 13,541,238   14,667,654   13,541,238 14,667,654
Total Liabilities 616,133   1,027,958   616,133 1,027,958
Revenues from Intercompany Sales - eliminated from sales above 126,870   90,443   242,693 139,644
Depreciation and Amortization 31,190   26,436   47,847 74,081
Purchases of Long-lived Assets 11,049   1,371   12,049 5,548
Overhead [Member] | Segment Reporting [Member]            
Segment Reporting Information [Line Items]            
Net Revenues    
Cost of Revenues    
Gross Profit    
Research & Development    
Selling, General & Administrative 780,053   427,783   1,487,372 940,686
Total Operating Expenses 780,053   427,783   1,487,372 940,686
INCOME FROM OPERATIONS (780,053)   (427,783)   (1,487,372) (940,686)
Other Income (Expense)            
Other Income 1,344   846   1,344 846
Funding from Paycheck Protection Program        
Interest Expense   (5,108)   (400) (11,297)
Total Other Income 1,344   (4,262)   944 (10,451)
INCOME BEFORE INCOME TAX EXPENSE (778,709)   (432,045)   (1,486,428) (951,137)
Income Tax (Expense) Benefit            
Current Tax Benefit (38,019)     (81,144) 12,072
Deferred Tax (Expense) Benefit 56,056   (51,021)   107,354 (83,761)
Total Income Tax Benefit (Expense) 18,037   (51,021)   26,210 (71,689)
NET INCOME (760,672)   (483,066)   (1,460,218) (1,022,826)
Supplemental Disclosures            
Total Assets 818,060   966,418   818,060 966,418
Total Liabilities 447,774   586,739   447,774 586,739
Revenues from Intercompany Sales - eliminated from sales above 607,500   675,000   1,207,500 1,350,000
Depreciation and Amortization 9,816   6,709   18,967 13,125
Purchases of Long-lived Assets $ 43,494   $ 44,442   $ 58,365 $ 49,434