SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($) |
3 Months Ended | 9 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jul. 31, 2022 |
Apr. 30, 2022 |
Jan. 31, 2022 |
Jul. 31, 2021 |
Apr. 30, 2021 |
Jan. 31, 2021 |
Jul. 31, 2022 |
Jul. 31, 2021 |
|
Segment Reporting Information [Line Items] | ||||||||
Net Revenues | $ 6,267,409 | $ 5,827,375 | $ 17,090,455 | $ 16,250,910 | ||||
Cost of Revenues | 1,704,765 | 1,614,966 | 5,336,171 | 4,973,975 | ||||
Gross Profit | 4,562,644 | 4,212,409 | 11,754,284 | 11,276,935 | ||||
Research & Development | 577,953 | 675,766 | 1,768,221 | 1,904,186 | ||||
Selling, General & Administrative | 1,960,978 | 2,213,821 | 6,116,085 | 5,824,046 | ||||
Total Operating Expenses | 2,538,931 | 2,889,587 | 7,884,306 | 7,728,232 | ||||
INCOME FROM OPERATIONS | 2,023,713 | 1,322,822 | 3,869,978 | 3,548,703 | ||||
Other Income (Expense) | ||||||||
Other Income | 19,744 | 3,571 | 114,236 | 75,070 | ||||
Funding from Paycheck Protection Program | 648,872 | |||||||
Interest Expense | (6,145) | (2,902) | (17,442) | |||||
Total Other Income (Expense) | 19,744 | (2,574) | 111,334 | 706,500 | ||||
INCOME BEFORE INCOME TAX EXPENSE | 2,043,457 | 1,320,248 | 3,981,312 | 4,255,203 | ||||
Income Tax (Expense) Benefit | ||||||||
Current Tax (Expense) Benefit | (326,732) | 418,329 | (503,191) | 753,017 | ||||
Deferred Tax Benefit (Expense) | 51,932 | (217,491) | 119,087 | (150,357) | ||||
Total Income Tax (Expense) Benefit | (274,800) | 200,838 | (384,104) | 602,660 | ||||
NET INCOME | 1,768,657 | $ 611,303 | $ 1,217,248 | 1,521,086 | $ 2,207,933 | $ 1,128,844 | 3,597,208 | 4,857,863 |
Supplemental Disclosures | ||||||||
Total Assets | 47,203,976 | 47,203,976 | ||||||
Total Liabilities | 4,412,606 | 4,412,606 | ||||||
Segment Reporting [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Net Revenues | 6,267,409 | 5,827,375 | 17,090,455 | 16,250,910 | ||||
Cost of Revenues | 1,704,765 | 1,614,966 | 5,336,171 | 4,973,975 | ||||
Gross Profit | 4,562,644 | 4,212,409 | 11,754,284 | 11,276,935 | ||||
Research & Development | 577,953 | 675,766 | 1,768,221 | 1,904,186 | ||||
Selling, General & Administrative | 1,960,978 | 2,213,821 | 6,116,085 | 5,824,046 | ||||
Total Operating Expenses | 2,538,931 | 2,889,587 | 7,884,306 | 7,728,232 | ||||
INCOME FROM OPERATIONS | 2,023,713 | 1,322,822 | 3,869,978 | 3,548,703 | ||||
Other Income (Expense) | ||||||||
Other Income | 19,744 | 3,571 | 114,236 | 75,070 | ||||
Funding from Paycheck Protection Program | 648,872 | |||||||
Interest Expense | (6,145) | (2,902) | (17,442) | |||||
Total Other Income (Expense) | 19,744 | (2,574) | 111,334 | 706,500 | ||||
INCOME BEFORE INCOME TAX EXPENSE | 2,043,457 | 1,320,248 | 3,981,312 | 4,255,203 | ||||
Income Tax (Expense) Benefit | ||||||||
Current Tax (Expense) Benefit | (326,732) | 418,329 | (503,191) | 753,017 | ||||
Deferred Tax Benefit (Expense) | 51,932 | (217,491) | 119,087 | (150,357) | ||||
Total Income Tax (Expense) Benefit | (274,800) | 200,838 | (384,104) | 602,660 | ||||
NET INCOME | 1,768,657 | 1,521,086 | 3,597,208 | 4,857,863 | ||||
Supplemental Disclosures | ||||||||
Total Assets | 47,203,976 | 44,363,219 | 47,203,976 | 44,363,219 | ||||
Total Liabilities | 4,412,606 | 3,384,211 | 4,412,606 | 3,384,211 | ||||
Revenues from Intercompany Sales - eliminated from sales above | 1,636,573 | 1,211,951 | 3,889,815 | 3,576,635 | ||||
Depreciation and Amortization | 208,821 | 227,645 | 652,762 | 827,509 | ||||
Purchases of Long-lived Assets | 54,409 | 239,437 | 1,195,885 | 838,626 | ||||
Marine Technology Business Products [Member] | Segment Reporting [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Net Revenues | 4,004,557 | 3,845,051 | 11,319,314 | 11,777,739 | ||||
Cost of Revenues | 532,248 | 545,243 | 1,920,573 | 2,462,219 | ||||
Gross Profit | 3,472,309 | 3,299,808 | 9,398,741 | 9,315,520 | ||||
Research & Development | 605,857 | 540,553 | 1,752,478 | 1,521,175 | ||||
Selling, General & Administrative | 731,200 | 862,673 | 2,059,147 | 2,402,406 | ||||
Total Operating Expenses | 1,337,057 | 1,403,226 | 3,811,625 | 3,923,581 | ||||
INCOME FROM OPERATIONS | 2,135,252 | 1,896,582 | 5,587,116 | 5,391,939 | ||||
Other Income (Expense) | ||||||||
Other Income | 14,472 | 3,554 | 32,576 | 74,173 | ||||
Funding from Paycheck Protection Program | 122,327 | |||||||
Interest Expense | (584) | (2,502) | (1,069) | |||||
Total Other Income (Expense) | 14,472 | 2,970 | 30,074 | 195,431 | ||||
INCOME BEFORE INCOME TAX EXPENSE | 2,149,724 | 1,899,552 | 5,617,190 | 5,587,370 | ||||
Income Tax (Expense) Benefit | ||||||||
Current Tax (Expense) Benefit | (226,264) | 157,333 | (492,505) | 254,745 | ||||
Deferred Tax Benefit (Expense) | 378 | (338,098) | 5,159 | (356,164) | ||||
Total Income Tax (Expense) Benefit | (225,886) | (180,765) | (487,346) | (101,419) | ||||
NET INCOME | 1,923,838 | 1,718,787 | 5,129,844 | 5,485,951 | ||||
Supplemental Disclosures | ||||||||
Total Assets | 33,015,110 | 28,820,472 | 33,015,110 | 28,820,472 | ||||
Total Liabilities | 3,246,151 | 2,159,921 | 3,246,151 | 2,159,921 | ||||
Revenues from Intercompany Sales - eliminated from sales above | 966,316 | 492,579 | 1,769,365 | 1,367,619 | ||||
Depreciation and Amortization | 174,739 | 195,103 | 551,866 | 707,761 | ||||
Purchases of Long-lived Assets | 14,815 | 201,198 | 1,085,877 | 745,405 | ||||
Marine Engineering Business Services [Member] | Segment Reporting [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Net Revenues | 2,262,852 | 1,982,324 | 5,771,141 | 4,473,171 | ||||
Cost of Revenues | 1,172,517 | 1,069,723 | 3,415,598 | 2,511,756 | ||||
Gross Profit | 1,090,335 | 912,601 | 2,355,543 | 1,961,415 | ||||
Research & Development | (27,904) | 135,213 | 15,743 | 383,011 | ||||
Selling, General & Administrative | 700,820 | 621,876 | 2,040,608 | 1,751,197 | ||||
Total Operating Expenses | 672,916 | 757,089 | 2,056,351 | 2,134,208 | ||||
INCOME FROM OPERATIONS | 417,419 | 155,512 | 299,192 | (172,793) | ||||
Other Income (Expense) | ||||||||
Other Income | 4,212 | 17 | 79,256 | 51 | ||||
Funding from Paycheck Protection Program | 526,545 | |||||||
Interest Expense | (365) | (365) | ||||||
Total Other Income (Expense) | 4,212 | (348) | 79,256 | 526,231 | ||||
INCOME BEFORE INCOME TAX EXPENSE | 421,631 | 155,164 | 378,448 | 353,438 | ||||
Income Tax (Expense) Benefit | ||||||||
Current Tax (Expense) Benefit | (23,148) | 260,996 | 147,778 | 498,666 | ||||
Deferred Tax Benefit (Expense) | 2,141 | 108,141 | (42,839) | 264,636 | ||||
Total Income Tax (Expense) Benefit | (21,007) | 369,137 | 104,939 | 763,302 | ||||
NET INCOME | 400,624 | 524,301 | 483,387 | 1,116,740 | ||||
Supplemental Disclosures | ||||||||
Total Assets | 13,354,167 | 14,608,555 | 13,354,167 | 14,608,555 | ||||
Total Liabilities | 774,497 | 844,816 | 774,497 | 844,816 | ||||
Revenues from Intercompany Sales - eliminated from sales above | 62,757 | 44,372 | 305,450 | 184,016 | ||||
Depreciation and Amortization | 24,209 | 24,590 | 72,056 | 98,671 | ||||
Purchases of Long-lived Assets | 22,125 | 7,655 | 34,174 | 13,203 | ||||
Overhead [Member] | Segment Reporting [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Net Revenues | ||||||||
Cost of Revenues | ||||||||
Gross Profit | ||||||||
Research & Development | ||||||||
Selling, General & Administrative | 528,958 | 729,272 | 2,016,330 | 1,670,443 | ||||
Total Operating Expenses | 528,958 | 729,272 | 2,016,330 | 1,670,443 | ||||
INCOME FROM OPERATIONS | (528,958) | (729,272) | (2,016,330) | (1,670,443) | ||||
Other Income (Expense) | ||||||||
Other Income | 1,060 | 2,404 | 846 | |||||
Funding from Paycheck Protection Program | ||||||||
Interest Expense | (5,196) | (400) | (16,008) | |||||
Total Other Income (Expense) | 1,060 | (5,196) | 2,004 | (15,162) | ||||
INCOME BEFORE INCOME TAX EXPENSE | (527,898) | (734,468) | (2,014,326) | (1,685,605) | ||||
Income Tax (Expense) Benefit | ||||||||
Current Tax (Expense) Benefit | (77,320) | (158,464) | (394) | |||||
Deferred Tax Benefit (Expense) | 49,413 | 12,466 | 156,767 | (58,829) | ||||
Total Income Tax (Expense) Benefit | (27,907) | 12,466 | (1,697) | (59,223) | ||||
NET INCOME | (555,805) | (722,002) | (2,016,023) | (1,744,828) | ||||
Supplemental Disclosures | ||||||||
Total Assets | 834,699 | 934,192 | 834,699 | 934,192 | ||||
Total Liabilities | 391,958 | 379,474 | 391,958 | 379,474 | ||||
Revenues from Intercompany Sales - eliminated from sales above | 607,500 | 675,000 | 1,815,000 | 2,025,000 | ||||
Depreciation and Amortization | 9,873 | 7,952 | 28,840 | 21,077 | ||||
Purchases of Long-lived Assets | $ 17,469 | $ 30,584 | $ 75,834 | $ 80,018 |