Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income (Unaudited)

v3.20.4
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended
Jan. 31, 2021
Jan. 31, 2020
Income Statement [Abstract]    
Net Revenues $ 5,050,459 $ 6,680,979
Cost of Revenues 1,735,537 2,406,539
Gross Profit 3,314,922 4,274,440
OPERATING EXPENSES    
Research & Development 583,139 928,265
Selling, General & Administrative 1,813,366 1,891,678
Total Operating Expenses 2,396,505 2,819,943
INCOME FROM OPERATIONS 918,417 1,454,497
OTHER INCOME (EXPENSE)    
Other Income 2,054 12,824
Funding from Paycheck Protection Program 89,971
Interest Expense (14,514) (19,614)
Total Other Income (Expense) 77,511 (6,790)
NET INCOME BEFORE INCOME TAXES 995,928 1,447,707
INCOME TAX BENEFIT (EXPENSE)    
Current Tax Benefit (Expense) 24,725 (23,347)
Deferred Tax Benefit (Expense) 108,191 (77,587)
Total Income Tax Benefit (Expense) 132,916 (100,934)
NET INCOME $ 1,128,844 $ 1,346,773
NET INCOME PER SHARE:    
Basic $ 0.10 $ 0.13
Diluted $ 0.10 $ 0.13
WEIGHTED AVERAGE SHARES:    
Basic 10,751,881 10,721,881
Diluted 11,308,881 10,721,881
NET INCOME $ 1,128,844 $ 1,346,773
Other Comprehensive Income
Foreign Currency Translation Adjustment 925,613 84,751
COMPREHENSIVE INCOME $ 2,054,456 $ 1,431,524