Schedule of Segment Reporting Information |
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended January 31, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
3,632,812 |
|
|
$ |
3,048,167 |
|
|
$ |
- |
|
|
$ |
6,680,979 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
655,677 |
|
|
|
1,750,862 |
|
|
|
- |
|
|
|
2,406,539 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
2,977,135 |
|
|
|
1,297,305 |
|
|
|
- |
|
|
|
4,274,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
556,729 |
|
|
|
206,438 |
|
|
|
165,098 |
|
|
|
928,265 |
|
Selling, General & Administrative |
|
|
867,998 |
|
|
|
636,296 |
|
|
|
387,384 |
|
|
|
1,891,678 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,424,727 |
|
|
|
842,734 |
|
|
|
552,482 |
|
|
|
2,819,943 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
1,552,408 |
|
|
|
454,571 |
|
|
|
(552,482 |
) |
|
|
1,454,497 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
12,824 |
|
|
|
- |
|
|
|
- |
|
|
|
12,824 |
|
Interest Expense |
|
|
(3,232 |
) |
|
|
(3,682 |
) |
|
|
(12,700 |
) |
|
|
(19,614 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
9,592 |
|
|
|
(3,682 |
) |
|
|
(12,700 |
) |
|
|
(6,790 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before Income Taxes |
|
|
1,562,000 |
|
|
|
450,889 |
|
|
|
(565,182 |
) |
|
|
1,447,707 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax Benefit (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit (Expense) |
|
|
25,833 |
|
|
|
4,045 |
|
|
|
(53,225 |
) |
|
|
(23,347 |
) |
Deferred Tax Benefit (Expense) |
|
|
(78,139 |
) |
|
|
(12,235 |
) |
|
|
12,787 |
|
|
|
(77,587 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Income Tax Expense |
|
|
(52,306 |
) |
|
|
(8,190 |
) |
|
|
(40,438 |
) |
|
|
(100,934 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
1,509,694 |
|
|
$ |
442,699 |
|
|
$ |
(605,620 |
) |
|
$ |
1,346,773 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
20,821,310 |
|
|
$ |
14,520,371 |
|
|
$ |
1,141,789 |
|
|
$ |
36,483,470 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
1,835,184 |
|
|
$ |
1,315,378 |
|
|
$ |
1,273,611 |
|
|
$ |
4,424,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
302,822 |
|
|
$ |
100,529 |
|
|
$ |
675,000 |
|
|
$ |
1,078,351 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
182,993 |
|
|
$ |
43,680 |
|
|
$ |
5,291 |
|
|
$ |
231,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
599,601 |
|
|
$ |
9,593 |
|
|
$ |
33,965 |
|
|
$ |
643,159 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended January 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
2,829,536 |
|
|
$ |
2,928,972 |
|
|
$ |
- |
|
|
$ |
5,758,508 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
717,306 |
|
|
|
1,508,130 |
|
|
|
- |
|
|
|
2,225,436 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
2,112,230 |
|
|
|
1,420,842 |
|
|
|
- |
|
|
|
3,533,072 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
471,425 |
|
|
|
32,549 |
|
|
|
67,352 |
|
|
|
571,326 |
|
Selling, General & Administrative |
|
|
754,660 |
|
|
|
594,046 |
|
|
|
270,569 |
|
|
|
1,619,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,226,085 |
|
|
|
626,595 |
|
|
|
337,921 |
|
|
|
2,190,601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
886,145 |
|
|
|
794,247 |
|
|
|
(337,921 |
) |
|
|
1,342,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
32,841 |
|
|
|
- |
|
|
|
- |
|
|
|
32,841 |
|
Interest Expense |
|
|
(2,474 |
) |
|
|
(4,581 |
) |
|
|
(18,006 |
) |
|
|
(25,061 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
30,367 |
|
|
|
(4,581 |
) |
|
|
(18,006 |
) |
|
|
7,780 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before Income Taxes |
|
|
916,512 |
|
|
|
789,666 |
|
|
|
(355,927 |
) |
|
|
1,350,251 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit |
|
|
7,293 |
|
|
|
44,924 |
|
|
|
25,750 |
|
|
|
77,967 |
|
Deferred tax Expense |
|
|
(6,924 |
) |
|
|
(115,867 |
) |
|
|
(66,414 |
) |
|
|
(189,205 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income benefit (expense) |
|
|
369 |
|
|
|
(70,943 |
) |
|
|
(40,664 |
) |
|
|
(111,238 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
916,881 |
|
|
$ |
718,723 |
|
|
$ |
(396,591 |
) |
|
$ |
1,239,013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
16,709,072 |
|
|
$ |
12,272,308 |
|
|
$ |
2,075,952 |
|
|
$ |
31,057,332 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
2,163,421 |
|
|
$ |
1,328,238 |
|
|
$ |
1,536,410 |
|
|
$ |
5,028,069 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
546,863 |
|
|
$ |
55,206 |
|
|
$ |
675,000 |
|
|
$ |
1,277,069 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
124,608 |
|
|
$ |
66,290 |
|
|
$ |
3,820 |
|
|
$ |
194,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
916,023 |
|
|
$ |
3,112 |
|
|
$ |
- |
|
|
$ |
919,135 |
|
|
Schedule of Disaggregate of Revenue from Contracts for Sale with Customers by Geographic Location |
|
|
For the Three Months Ended January 31, 2020 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Disaggregation of Total Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
334,388 |
|
|
$ |
- |
|
|
$ |
334,388 |
|
Equipment Rentals |
|
|
45,069 |
|
|
|
- |
|
|
|
45,069 |
|
Software Sales |
|
|
7,250 |
|
|
|
- |
|
|
|
7,250 |
|
Engineering Parts |
|
|
- |
|
|
|
1,646,374 |
|
|
|
1,646,374 |
|
Services |
|
|
154,625 |
|
|
|
489,531 |
|
|
|
644,156 |
|
Europe |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
338,147 |
|
|
|
- |
|
|
|
338,147 |
|
Equipment Rentals |
|
|
52,644 |
|
|
|
- |
|
|
|
52,644 |
|
Software Sales |
|
|
102,526 |
|
|
|
- |
|
|
|
102,526 |
|
Engineering Parts |
|
|
- |
|
|
|
906,855 |
|
|
|
906,855 |
|
Services |
|
|
125,700 |
|
|
|
5,407 |
|
|
|
131,107 |
|
Australia/Asia |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
2,028,310 |
|
|
|
- |
|
|
|
2,028,310 |
|
Equipment Rentals |
|
|
225,932 |
|
|
|
- |
|
|
|
225,932 |
|
Software Sales |
|
|
119,999 |
|
|
|
- |
|
|
|
119,999 |
|
Services |
|
|
47,119 |
|
|
|
- |
|
|
|
47,119 |
|
Middle East & Africa |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
22,074 |
|
|
|
- |
|
|
|
22,074 |
|
Equipment Rentals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Software Sales |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Services |
|
|
29,029 |
|
|
|
- |
|
|
|
29,029 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net sales |
|
$ |
3,632,812 |
|
|
$ |
3,048,167 |
|
|
$ |
6,680,979 |
|
|
|
For the Three Months Ended January 31, 2020 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Geographic Area |
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
$ |
541,332 |
|
|
$ |
2,135,905 |
|
|
$ |
2,677,237 |
|
Europe |
|
|
619,017 |
|
|
|
912,262 |
|
|
|
1,531,279 |
|
Australia/Asia |
|
|
2,421,360 |
|
|
|
- |
|
|
|
2,421,360 |
|
Middle East & Africa |
|
|
51,103 |
|
|
|
- |
|
|
|
51,103 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net sales |
|
$ |
3,632,812 |
|
|
$ |
3,048,167 |
|
|
$ |
6,680,979 |
|
|
|
For the Three Months Ended January 31, 2020 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Product Line |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
2,722,919 |
|
|
$ |
- |
|
|
$ |
2,722,919 |
|
Equipment Rentals |
|
|
323,645 |
|
|
|
- |
|
|
|
323,645 |
|
Software Sales |
|
|
229,775 |
|
|
|
- |
|
|
|
229,775 |
|
Engineering Parts |
|
|
- |
|
|
|
2,553,229 |
|
|
|
2,553,229 |
|
Services |
|
|
356,473 |
|
|
|
494,938 |
|
|
|
851,411 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,632,812 |
|
|
$ |
3,048,167 |
|
|
$ |
6,680,979 |
|
|
|
For the Three Months Ended January 31, 2019 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Disaggregation of Total Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
47,550 |
|
|
$ |
3,009 |
|
|
$ |
50,559 |
|
Equipment Rentals |
|
|
53,483 |
|
|
|
- |
|
|
|
53,483 |
|
Software Sales |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Engineering Parts |
|
|
- |
|
|
|
2,190,192 |
|
|
|
2,190,192 |
|
Services |
|
|
83,527 |
|
|
|
316,152 |
|
|
|
399,679 |
|
Europe |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
323,709 |
|
|
|
97,677 |
|
|
|
421,386 |
|
Equipment Rentals |
|
|
160,389 |
|
|
|
- |
|
|
|
160,389 |
|
Software Sales |
|
|
89,575 |
|
|
|
- |
|
|
|
89,575 |
|
Engineering Parts |
|
|
- |
|
|
|
321,942 |
|
|
|
321,942 |
|
Services |
|
|
140,552 |
|
|
|
- |
|
|
|
140,552 |
|
Australia/Asia |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
1,192,319 |
|
|
|
- |
|
|
|
1,192,319 |
|
Equipment Rentals |
|
|
257,918 |
|
|
|
- |
|
|
|
257,918 |
|
Software Sales |
|
|
143,589 |
|
|
|
- |
|
|
|
143,589 |
|
Services |
|
|
223,375 |
|
|
|
- |
|
|
|
223,375 |
|
Middle East & Africa |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
10,473 |
|
|
|
- |
|
|
|
10,473 |
|
Equipment Rentals |
|
|
36,130 |
|
|
|
- |
|
|
|
36,130 |
|
Software Sales |
|
|
20,987 |
|
|
|
- |
|
|
|
20,987 |
|
Services |
|
|
45,960 |
|
|
|
- |
|
|
|
45,960 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
2,829,536 |
|
|
$ |
2,928,972 |
|
|
$ |
5,758,508 |
|
|
|
For the Three Months Ended January 31, 2019 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Geographic Area |
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
$ |
184,560 |
|
|
$ |
2,509,353 |
|
|
$ |
2,693,913 |
|
Europe |
|
|
714,225 |
|
|
|
419,619 |
|
|
|
1,133,844 |
|
Australia/Asia |
|
|
1,817,201 |
|
|
|
- |
|
|
|
1,817,201 |
|
Middle East & Africa |
|
|
113,550 |
|
|
|
- |
|
|
|
113,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
2,829,536 |
|
|
$ |
2,928,972 |
|
|
$ |
5,758,508 |
|
|
|
For the Three Months Ended January 31, 2019 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Product Line |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
1,574,051 |
|
|
$ |
100,686 |
|
|
$ |
1,674,737 |
|
Equipment Rentals |
|
|
507,920 |
|
|
|
- |
|
|
|
507,920 |
|
Software Sales |
|
|
254,151 |
|
|
|
- |
|
|
|
254,151 |
|
Engineering Parts |
|
|
- |
|
|
|
2,512,134 |
|
|
|
2,512,134 |
|
Services |
|
|
493,414 |
|
|
|
316,152 |
|
|
|
809,566 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
2,829,536 |
|
|
$ |
2,928,972 |
|
|
$ |
5,758,508 |
|
|