Schedule of Segment Reporting Information |
Information concerning principal
geographic areas is presented below according to the area where the activity has taken place for the three months ended January
31, 2018 and 2017 respectively:
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended January 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
2,042,942 |
|
|
$ |
1,007,615 |
|
|
$ |
- |
|
|
$ |
3,050,557 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
430,131 |
|
|
|
515,976 |
|
|
|
- |
|
|
|
946,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
1,612,811 |
|
|
|
491,639 |
|
|
|
- |
|
|
|
2,104,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
442,274 |
|
|
|
228,265 |
|
|
|
- |
|
|
|
670,539 |
|
Selling, General & Administrative |
|
|
577,565 |
|
|
|
630,874 |
|
|
|
297,318 |
|
|
|
1,505,757 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,019,839 |
|
|
|
859,139 |
|
|
|
297,318 |
|
|
|
2,176,296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
592,972 |
|
|
|
(367,500 |
) |
|
|
(297,318 |
) |
|
|
(71,846 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
6,655 |
|
|
|
- |
|
|
|
- |
|
|
|
6,655 |
|
Interest (Expense) |
|
|
(4,419 |
) |
|
|
(14,949 |
) |
|
|
(83,380 |
) |
|
|
(102,748 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
2,236 |
|
|
|
(14,949 |
) |
|
|
(83,380 |
) |
|
|
(96,093 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) before income taxes |
|
|
595,208 |
|
|
|
(382,449 |
) |
|
|
(380,698 |
) |
|
|
(167,939 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
595,208 |
|
|
$ |
(382,449 |
) |
|
$ |
(380,698 |
) |
|
$ |
(167,939 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,419,192 |
|
|
$ |
11,095,135 |
|
|
$ |
5,449,334 |
|
|
$ |
28,963,661 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
862,542 |
|
|
|
1,405,271 |
|
|
|
7,126,250 |
|
|
|
9,394,063 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
471,218 |
|
|
|
10,189 |
|
|
|
675,000 |
|
|
|
1,156,407 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
137,518 |
|
|
|
79,715 |
|
|
|
2,937 |
|
|
|
220,170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
201,917 |
|
|
|
43,905 |
|
|
|
- |
|
|
|
245,822 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended January 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
2,450,599 |
|
|
$ |
2,907,604 |
|
|
$ |
- |
|
|
$ |
5,358,203 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
730,021 |
|
|
|
1,253,025 |
|
|
|
- |
|
|
|
1,983,046 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
1,720,578 |
|
|
|
1,654,579 |
|
|
|
- |
|
|
|
3,375,157 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
251,230 |
|
|
|
- |
|
|
|
- |
|
|
|
251,230 |
|
Selling, General & Administrative |
|
|
574,648 |
|
|
|
686,411 |
|
|
|
144,829 |
|
|
|
1,405,888 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
825,878 |
|
|
|
686,411 |
|
|
|
144,829 |
|
|
|
1,657,118 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
894,700 |
|
|
|
968,168 |
|
|
|
(144,829 |
) |
|
|
1,718,039 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
49,416 |
|
|
|
- |
|
|
|
- |
|
|
|
49,416 |
|
Interest (Expense) |
|
|
(350,334 |
) |
|
|
(124,221 |
) |
|
|
279,061 |
|
|
|
(195,494 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
(300,918 |
) |
|
|
(124,221 |
) |
|
|
279,061 |
|
|
|
(146,078 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
|
593,782 |
|
|
|
843,947 |
|
|
|
134,232 |
|
|
|
1,571,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
593,782 |
|
|
$ |
843,947 |
|
|
$ |
134,232 |
|
|
$ |
1,571,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
10,586,262 |
|
|
$ |
12,249,349 |
|
|
$ |
506,050 |
|
|
$ |
23,341,661 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
843,107 |
|
|
|
1,716,788 |
|
|
|
9,723,632 |
|
|
|
12,283,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
172,853 |
|
|
|
59,899 |
|
|
|
118,875 |
|
|
|
351,627 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
101,463 |
|
|
|
71,725 |
|
|
|
3,211 |
|
|
|
176,399 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
1,645,460 |
|
|
|
22,181 |
|
|
|
12,470 |
|
|
|
1,680,111 |
|
|
|
USA |
|
|
Europe |
|
|
Australia |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External Revenues by Geographic Locations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended January 31, 2018 |
|
$ |
1,087,626 |
|
|
$ |
1,822,036 |
|
|
$ |
140,895 |
|
|
$ |
3,050,557 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended January 31, 2017 |
|
$ |
2,749,768 |
|
|
$ |
2,017,036 |
|
|
$ |
591,399 |
|
|
$ |
5,358,203 |
|
|