Quarterly report pursuant to Section 13 or 15(d)

Segment Analysis - Schedule of Segment Reporting Information (Details)

v3.19.2
Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)
3 Months Ended 6 Months Ended
Apr. 30, 2019
Jan. 31, 2019
Apr. 30, 2018
Jan. 31, 2018
Apr. 30, 2019
Apr. 30, 2018
Oct. 31, 2018
Revenues from External Customers $ 6,783,272   $ 3,526,396   $ 12,541,780 $ 6,576,953  
Cost of Revenues 2,058,610   940,858   4,284,046 1,886,965  
Gross Profit 4,724,662   2,585,538   8,257,734 4,689,988  
Research & Development 745,227   640,477   1,316,553 1,311,016  
Selling, General & Administrative 1,696,682   2,025,630   3,315,957 3,531,387  
Total Operating Expenses 2,441,909   2,666,107   4,632,510 4,842,403  
Income (Loss) from Operations 2,282,753   (80,569)   3,625,224 (152,415)  
Other Income 26,228   84,015   59,069 90,670  
Interest Expense 24,347   80,741   49,408 183,489  
Total Other Income (Expense) 1,881   3,274   9,661 (92,819)  
Net Income (Loss) before Income Taxes 2,284,634   (77,295)   3,634,885 (245,234)  
Current Tax Benefit (Expense) 24   (30)   77,991 (30)  
Deferred Tax (Expense) (311,164)     (500,369)  
Income (Expense) (311,140)   (30)   (422,378) (30)  
Net Income (Loss) 1,973,494 $ 1,239,013 (77,325) $ (167,939) 3,212,507 (245,264)  
Total Assets 31,948,932   28,963,661   31,948,932 28,963,661 $ 28,736,611
Total Liabilities 3,808,905   4,137,600   3,808,905 4,137,600 $ 4,349,661
Revenues from Intercompany Sales - eliminated from sales above 1,210,327   1,123,791   2,487,396 1,156,407  
Depreciation and Amortization 199,693   190,677   394,412 396,056  
Purchases of Long-lived Assets 1,180,579   82,953   2,099,714 521,594  
Marine Technology Business (Products) [Member]              
Revenues from External Customers 3,420,183   2,173,291   6,249,719 4,216,233  
Cost of Revenues 488,909   217,222   1,206,215 647,353  
Gross Profit 2,931,274   1,956,069   5,043,504 3,568,880  
Research & Development 558,579   503,518   1,030,004 945,792  
Selling, General & Administrative 743,801   850,521   1,498,461 1,428,086  
Total Operating Expenses 1,302,380   1,354,039   2,528,465 2,373,878  
Income (Loss) from Operations 1,628,894   602,030   2,515,039 1,195,002  
Other Income 26,228   81,918   59,069 88,573  
Interest Expense (3,392)   (2,385)   (5,866) (6,804)  
Total Other Income (Expense) 22,836   79,533   53,203 81,769  
Net Income (Loss) before Income Taxes 1,651,730   681,563   2,568,242 1,276,771  
Current Tax Benefit (Expense) 18,375   (6,431)   25,668 (6,596)  
Deferred Tax (Expense) (144,381)       (151,305)    
Income (Expense) (126,006)       (125,637)    
Net Income (Loss) 1,525,724   675,132   2,442,605 1,270,175  
Total Assets 17,403,981   12,655,196   17,403,981 12,655,196  
Total Liabilities 1,357,163   760,320   1,357,163 760,320  
Revenues from Intercompany Sales - eliminated from sales above 361,604   315,954   908,467 471,218  
Depreciation and Amortization 134,516   113,923   259,124 236,650  
Purchases of Long-lived Assets 1,149,245   52,112   2,065,268 254,029  
Marine Engineering Business (Services) [Member]              
Revenues from External Customers 3,363,089   1,353,105   6,292,061 2,360,720  
Cost of Revenues 1,569,701   723,636   3,077,831 1,239,612  
Gross Profit 1,793,388   629,469   3,214,230 1,121,108  
Research & Development 64,665   136,959   97,214 365,224  
Selling, General & Administrative 611,059   614,718   1,205,105 1,245,592  
Total Operating Expenses 675,724   751,677   1,302,319 1,610,816  
Income (Loss) from Operations 1,117,664   (122,208)   1,911,911 (489,708)  
Other Income   2,097   2,097  
Interest Expense (5,118)   (14,752)   (9,699) (29,701)  
Total Other Income (Expense) (5,118)   (12,655)   (9,699) (27,604)  
Net Income (Loss) before Income Taxes 1,112,546   (134,863)   1,902,212 (517,312)  
Current Tax Benefit (Expense) (9,939)     34,985  
Deferred Tax (Expense) (117,529)       (233,396)    
Income (Expense) (127,468)       (198,411)    
Net Income (Loss) 985,078   (134,863)   1,703,801 (517,312)  
Total Assets 12,980,885   10,944,045   12,980,885 10,944,045  
Total Liabilities 923,248   1,438,790   923,248 1,438,790  
Revenues from Intercompany Sales - eliminated from sales above 173,723   132,837   228,929 10,189  
Depreciation and Amortization 61,388   72,499   127,678 152,214  
Purchases of Long-lived Assets 31,334   6,056   34,446 49,961  
Overhead [Member]              
Revenues from External Customers      
Cost of Revenues      
Gross Profit      
Research & Development 121,983     189,335  
Selling, General & Administrative 341,822   560,391   612,391 857,709  
Total Operating Expenses 463,805   560,391   801,726 857,709  
Income (Loss) from Operations (463,805)   (560,391)   (801,726) (857,709)  
Other Income      
Interest Expense (15,837)   (63,604)   (33,843) (146,984)  
Total Other Income (Expense) (15,837)   (63,604)   (33,843) (146,984)  
Net Income (Loss) before Income Taxes (479,642)   (623,995)   (835,569) (1,004,693)  
Current Tax Benefit (Expense) (8,412)   6,401   17,338 6,566  
Deferred Tax (Expense) (49,254)       (115,668)    
Income (Expense) (57,666)       (98,330)    
Net Income (Loss) (537,308)   (617,594)   (933,899) (998,127)  
Total Assets 1,564,066   342,932   1,564,066 342,932  
Total Liabilities 1,528,494   1,938,490   1,528,494 1,938,490  
Revenues from Intercompany Sales - eliminated from sales above 675,000   675,000   1,350,000 675,000  
Depreciation and Amortization 3,790   4,255   7,610 7,192  
Purchases of Long-lived Assets   $ 24,785   $ 24,785