Schedule of Segment Reporting Information |
Information concerning principal geographic
areas according to the area where the activity has taken place for the three and nine months ended July 31, 2018 and 2017, respectively
is presented below:
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
3,926,491 |
|
|
$ |
1,851,982 |
|
|
$ |
- |
|
|
$ |
5,778,473 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
650,669 |
|
|
|
933,531 |
|
|
|
- |
|
|
|
1,584,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
3,275,822 |
|
|
|
918,451 |
|
|
|
- |
|
|
|
4,194,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
440,202 |
|
|
|
90,190 |
|
|
|
- |
|
|
|
530,392 |
|
Selling, General & Administrative |
|
|
723,155 |
|
|
|
566,692 |
|
|
|
350,995 |
|
|
|
1,640,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,163,357 |
|
|
|
656,882 |
|
|
|
350,995 |
|
|
|
2,171,234 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
2,112,465 |
|
|
|
261,569 |
|
|
|
(350,995 |
) |
|
|
2,023,039 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
3,941 |
|
|
|
31 |
|
|
|
- |
|
|
|
3,972 |
|
Interest Expense |
|
|
(2,480 |
) |
|
|
(15,802 |
) |
|
|
(11,139 |
) |
|
|
(29,421 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
1,461 |
|
|
|
(15,771 |
) |
|
|
(11,139 |
) |
|
|
(25,449 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before income taxes |
|
|
2,113,926 |
|
|
|
245,798 |
|
|
|
(362,134 |
) |
|
|
1,997,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax Refund |
|
|
- |
|
|
|
- |
|
|
|
20 |
|
|
|
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
2,113,926 |
|
|
$ |
245,798 |
|
|
$ |
(362,114 |
) |
|
$ |
1,997,610 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
14,016,131 |
|
|
$ |
11,378,558 |
|
|
$ |
553,927 |
|
|
$ |
25,948,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
865,138 |
|
|
$ |
1,660,291 |
|
|
$ |
1,891,374 |
|
|
$ |
4,416,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
44,180 |
|
|
$ |
183,800 |
|
|
$ |
675,000 |
|
|
$ |
902,980 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
137,426 |
|
|
$ |
66,435 |
|
|
$ |
5,728 |
|
|
$ |
209,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
232,575 |
|
|
$ |
(6,122 |
) |
|
$ |
30,667 |
|
|
$ |
257,120 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
3,439,587 |
|
|
$ |
1,604,003 |
|
|
$ |
- |
|
|
$ |
5,043,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
1,054,369 |
|
|
|
928,392 |
|
|
|
- |
|
|
|
1,982,761 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
2,385,218 |
|
|
|
675,611 |
|
|
|
- |
|
|
|
3,060,829 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
200,118 |
|
|
|
- |
|
|
|
- |
|
|
|
200,118 |
|
Selling, General & Administrative |
|
|
781,908 |
|
|
|
637,465 |
|
|
|
297,891 |
|
|
|
1,717,264 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
982,026 |
|
|
|
637,465 |
|
|
|
297,891 |
|
|
|
1,917,382 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
1,403,192 |
|
|
|
38,146 |
|
|
|
(297,891 |
) |
|
|
1,143,447 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
89,670 |
|
|
|
261 |
|
|
|
- |
|
|
|
89,931 |
|
Interest Expense |
|
|
(5,947 |
) |
|
|
(15,451 |
) |
|
|
(90,691 |
) |
|
|
(112,089 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
83,723 |
|
|
|
(15,190 |
) |
|
|
(90,691 |
) |
|
|
(22,158 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before income taxes |
|
|
1,486,915 |
|
|
|
22,956 |
|
|
|
(388,582 |
) |
|
|
1,121,289 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Refund |
|
|
3,513 |
|
|
|
- |
|
|
|
- |
|
|
|
3,513 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
1,490,428 |
|
|
$ |
22,956 |
|
|
$ |
(388,582 |
) |
|
$ |
1,124,802 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,300,376 |
|
|
$ |
12,529,169 |
|
|
$ |
1,093,219 |
|
|
$ |
25,922,764 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
1,103,023 |
|
|
$ |
1,638,002 |
|
|
$ |
8,287,374 |
|
|
$ |
11,028,399 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
1,002,339 |
|
|
$ |
36,030 |
|
|
$ |
369,625 |
|
|
$ |
1,407,994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
130,048 |
|
|
$ |
101,442 |
|
|
$ |
3,211 |
|
|
$ |
234,701 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
252,653 |
|
|
$ |
45,841 |
|
|
$ |
- |
|
|
$ |
298,494 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended July 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
8,142,724 |
|
|
$ |
4,212,702 |
|
|
$ |
- |
|
|
$ |
12,355,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
1,298,022 |
|
|
|
2,173,143 |
|
|
|
- |
|
|
|
3,471,165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
6,844,702 |
|
|
|
2,039,559 |
|
|
|
- |
|
|
|
8,884,261 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
1,385,994 |
|
|
|
455,414 |
|
|
|
- |
|
|
|
1,841,408 |
|
Selling, General & Administrative |
|
|
2,150,168 |
|
|
|
1,813,357 |
|
|
|
1,208,704 |
|
|
|
5,172,229 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
3,536,162 |
|
|
|
2,268,771 |
|
|
|
1,208,704 |
|
|
|
7,013,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
3,308,540 |
|
|
|
(229,212 |
) |
|
|
(1,208,704 |
) |
|
|
1,870,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
92,514 |
|
|
|
2,128 |
|
|
|
- |
|
|
|
94,642 |
|
Interest (Expense) Income |
|
|
(9,289 |
) |
|
|
(45,503 |
) |
|
|
(158,118 |
) |
|
|
(212,910 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
83,225 |
|
|
|
(43,375 |
) |
|
|
(158,118 |
) |
|
|
(118,268 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before income taxes |
|
|
3,391,765 |
|
|
|
(272,587 |
) |
|
|
(1,366,822 |
) |
|
|
1,752,356 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Refund (expense) |
|
|
(6,596 |
) |
|
|
- |
|
|
|
6,586 |
|
|
|
(10 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
3,385,169 |
|
|
$ |
(272,587 |
) |
|
$ |
(1,360,236 |
) |
|
$ |
1,752,346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
14,016,131 |
|
|
$ |
11,378,558 |
|
|
$ |
553,927 |
|
|
$ |
25,948,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
865,138 |
|
|
$ |
1,660,291 |
|
|
$ |
1,891,374 |
|
|
$ |
4,416,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
831,352 |
|
|
$ |
196,103 |
|
|
$ |
2,025,000 |
|
|
$ |
3,052,455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
374,076 |
|
|
$ |
218,649 |
|
|
$ |
12,920 |
|
|
$ |
605,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
486,604 |
|
|
$ |
43,839 |
|
|
$ |
55,452 |
|
|
$ |
585,895 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended July 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
9,189,731 |
|
|
$ |
6,490,820 |
|
|
$ |
- |
|
|
$ |
15,680,551 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
2,753,297 |
|
|
|
3,226,449 |
|
|
|
- |
|
|
|
5,979,746 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
6,436,434 |
|
|
|
3,264,371 |
|
|
|
- |
|
|
|
9,700,805 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
699,106 |
|
|
|
- |
|
|
|
- |
|
|
|
699,106 |
|
Selling, General & Administrative |
|
|
2,165,601 |
|
|
|
1,979,436 |
|
|
|
596,931 |
|
|
|
4,741,968 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
2,864,707 |
|
|
|
1,979,436 |
|
|
|
596,931 |
|
|
|
5,441,074 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
3,571,727 |
|
|
|
1,284,935 |
|
|
|
-596,931 |
|
|
|
4,259,731 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
204,653 |
|
|
|
261 |
|
|
|
- |
|
|
|
204,914 |
|
Interest Expense |
|
|
(538,088 |
) |
|
|
(214,674 |
) |
|
|
256,332 |
|
|
|
(496,430 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (expense) |
|
|
(333,435 |
) |
|
|
(214,413 |
) |
|
|
256,332 |
|
|
|
(291,516 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
|
3,238,292 |
|
|
|
1,070,522 |
|
|
|
(340,599 |
) |
|
|
3,968,215 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Refund (expense) |
|
|
3,513 |
|
|
|
- |
|
|
|
- |
|
|
|
3,513 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
3,241,805 |
|
|
$ |
1,070,522 |
|
|
$ |
(340,599 |
) |
|
$ |
3,971,728 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,300,376 |
|
|
$ |
12,529,169 |
|
|
$ |
1,093,219 |
|
|
$ |
25,922,764 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
1,103,023 |
|
|
$ |
1,638,002 |
|
|
$ |
8,287,374 |
|
|
$ |
11,028,399 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
1,680,852 |
|
|
$ |
265,985 |
|
|
$ |
607,375 |
|
|
$ |
2,554,212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
377,311 |
|
|
$ |
244,223 |
|
|
$ |
9,528 |
|
|
$ |
631,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
2,541,716 |
|
|
$ |
94,874 |
|
|
$ |
12,470 |
|
|
$ |
2,649,060 |
|
|
|
USA |
|
|
Europe |
|
|
Australia |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External Revenues by Geographic Locations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2018 |
|
$ |
2,060,203 |
|
|
$ |
3,718,877 |
|
|
$ |
(607 |
) |
|
$ |
5,778,473 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2017 |
|
$ |
1,550,141 |
|
|
$ |
2,942,364 |
|
|
$ |
551,085 |
|
|
$ |
5,043,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended July 31, 2018 |
|
$ |
5,082,194 |
|
|
$ |
7,017,581 |
|
|
$ |
255,651 |
|
|
$ |
12,355,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended July 31, 2017 |
|
$ |
6,825,815 |
|
|
$ |
7,574,299 |
|
|
$ |
1,280,437 |
|
|
$ |
15,680,551 |
|
|