Quarterly report pursuant to Section 13 or 15(d)

Segment Analysis - Schedule of Segment Reporting Information (Details)

v3.20.2
Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)
3 Months Ended 9 Months Ended
Jul. 31, 2020
Apr. 30, 2020
Jan. 31, 2020
Jul. 31, 2019
Apr. 30, 2019
Jan. 31, 2019
Jul. 31, 2020
Jul. 31, 2019
Oct. 31, 2019
Revenues from External Customers $ 5,396,036     $ 6,668,498     $ 15,366,233 $ 19,210,278  
Cost of Revenues 1,776,868     2,120,680     5,547,211 6,404,726  
Gross Profit 3,619,168     4,547,818     9,819,022 12,805,552  
Research & Development 772,641     631,690     2,414,547 1,948,243  
Selling, General & Administrative 1,525,469     1,775,909     4,950,357 5,091,866  
Total Operating Expenses 2,298,110     2,407,599     7,364,904 7,040,109  
Income (Loss) from Operations 1,321,058     2,140,219     2,454,118 5,765,443  
Other Income 3,871     6,398     16,384 65,467  
Interest Expense (16,580)     (20,275)     (54,650) (69,683)  
Total Other Income (Expense) (12,709)     (13,877)     (38,266) (4,216)  
Net Income (Loss) before Income Taxes 1,308,349     2,126,342     2,415,852 5,761,227  
Current Tax Benefit (Expense) 1,584     (38)     13,063 77,954  
Deferred Tax (Expense) Benefit (287,180)     (350,617)     (324,469) (850,987)  
Total Income Tax (Expense) Benefit (285,596)     (350,655)     (311,406) (773,033)  
Net Income (Loss) 1,022,753 $ (265,080) $ 1,346,773 1,775,687 $ 1,973,494 $ 1,239,013 2,104,446 4,988,194  
Total Assets 37,268,045     33,343,909     37,268,045 33,343,909 $ 34,511,244
Total Liabilities 3,897,216     4,428,196     3,897,216 4,428,196 $ 3,883,471
Revenues from Intercompany Sales - eliminated from sales above 1,857,288     888,857     2,935,639 3,374,253  
Depreciation and Amortization 309,915     200,194     643,335 594,606  
(Sales) Purchases of Long-lived Assets 341,180     (221,822)     831,578 1,877,892  
Marine Technology Business (Products) [Member]                  
Revenues from External Customers 3,053,070     3,231,510     8,377,081 9,481,229  
Cost of Revenues 653,117     592,585     1,715,647 1,798,800  
Gross Profit 2,399,953     2,638,925     6,661,434 7,682,429  
Research & Development 394,332     503,540     1,393,757 1,533,544  
Selling, General & Administrative 496,772     590,981     2,056,947 2,089,442  
Total Operating Expenses 891,104     1,094,521     3,450,704 3,622,986  
Income (Loss) from Operations 1,508,849     1,544,404     3,210,730 4,059,443  
Other Income 3,745     6,398     16,242 65,467  
Interest Expense (1,718)     (2,197)     (7,345) (8,063)  
Total Other Income (Expense) 2,027     4,201     8,897 57,404  
Net Income (Loss) before Income Taxes 1,510,876     1,548,605     3,219,627 4,116,847  
Current Tax Benefit (Expense) 5,532     (5,172)     24,968 20,496  
Deferred Tax (Expense) Benefit (236,356)     (47,768)     (315,849) (199,073)  
Total Income Tax (Expense) Benefit (230,824)     (52,940)     (290,881) (178,577)  
Net Income (Loss) 1,280,052     1,495,665     2,928,746 3,938,270  
Total Assets 22,149,613     18,200,970     22,149,613 18,200,970  
Total Liabilities 1,737,007     2,169,195     1,737,007 2,169,195  
Revenues from Intercompany Sales - eliminated from sales above 498,312     136,128     801,134 1,044,595  
Depreciation and Amortization 261,975     132,392     539,567 391,516  
(Sales) Purchases of Long-lived Assets 317,892     (262,062)     758,619 1,803,206  
Marine Engineering Business (Services) [Member]                  
Revenues from External Customers 2,342,966     3,436,988     6,989,152 9,729,049  
Cost of Revenues 1,123,751     1,528,095     3,831,564 4,605,926  
Gross Profit 1,219,215     1,908,893     3,157,588 5,123,123  
Research & Development 352,625     32,991     830,008 130,205  
Selling, General & Administrative 515,547     659,398     1,678,882 1,864,503  
Total Operating Expenses 868,172     692,389     2,508,890 1,994,708  
Income (Loss) from Operations 351,043     1,216,504     648,698 3,128,415  
Other Income 126         142  
Interest Expense (4,672)     (2,150)     (12,313) (11,849)  
Total Other Income (Expense) (4,546)     (2,150)     (12,171) (11,849)  
Net Income (Loss) before Income Taxes 346,497     1,214,354     636,527 3,116,566  
Current Tax Benefit (Expense)     4,460     39,445  
Deferred Tax (Expense) Benefit 15,155     (214,144)     145,713 (447,540)  
Total Income Tax (Expense) Benefit 15,155     (209,684)     145,713 (408,095)  
Net Income (Loss) 361,652     1,004,670     782,240 2,708,471  
Total Assets 14,439,917     13,876,685     14,439,917 13,876,685  
Total Liabilities 1,392,816     870,492     1,392,816 870,492  
Revenues from Intercompany Sales - eliminated from sales above 8,976     75,729     109,505 304,658  
Depreciation and Amortization 43,263     63,724     89,688 191,402  
(Sales) Purchases of Long-lived Assets 23,288     5,937     24,440 40,383  
Overhead [Member]                  
Revenues from External Customers          
Cost of Revenues          
Gross Profit          
Research & Development 25,684     95,159     190,782 284,494  
Selling, General & Administrative 513,150     525,530     1,214,528 1,137,921  
Total Operating Expenses 538,834     620,689     1,405,310 1,422,415  
Income (Loss) from Operations (538,834)     (620,689)     (1,405,310) (1,422,415)  
Other Income          
Interest Expense (10,190)     (15,928)     (34,992) (49,771)  
Total Other Income (Expense) (10,190)     (15,928)     (34,992) (49,771)  
Net Income (Loss) before Income Taxes (549,024)     (636,617)     (1,440,302) (1,472,186)  
Current Tax Benefit (Expense) (3,948)     674     (11,905) 18,013  
Deferred Tax (Expense) Benefit (65,979)     (88,705)     (154,333) (204,374)  
Total Income Tax (Expense) Benefit (69,927)     (88,031)     (166,238) (186,361)  
Net Income (Loss) (618,951)     (724,648)     (1,606,540) (1,658,547)  
Total Assets 678,515     1,266,254     678,515 1,266,254  
Total Liabilities 767,393     1,388,509     767,393 1,388,509  
Revenues from Intercompany Sales - eliminated from sales above 1,350,000     675,000     2,025,000 2,025,000  
Depreciation and Amortization 4,677     4,078     14,080 11,688  
(Sales) Purchases of Long-lived Assets     $ 34,303     $ 48,519 $ 34,303