Segment Analysis (Tables)

3 Months Ended

Jan. 31, 2021

	Marine Technology Business (Products)			Marine Engineering Business (Services)			Overhead			Total

Three Months Ended January 31, 2021

Revenues from External Customers	$	3,748,279		$	1,302,180		$	-		$	5,050,459

Cost of Revenues		894,275			841,262			-			1,735,537

Gross Profit		2,854,004			460,918			-			3,314,922

Research & Development		441,744			141,395			-			583,139
Selling, General & Administrative		733,825			567,559			511,982			1,813,366

Total Operating Expenses		1,175,569			708,954			511,982			2,396,505

Income (Loss) from Operations		1,678,435			(248,036	)		(511,982	)		918,417

Other Income (Expense)
Other Income		2,036			18			-			2,054
Funding from Paycheck Protection Program		-			89,971			-			89,971
Interest Expense		(2,253	)		(5,151	)		(7,110	)		(14,514	)

Total Other Income (Expense)		(217	)		84,838			(7,110	)		77,511

Net Income (Loss) before Income Taxes		1,678,218			(163,198	)		(519,092	)		995,928

Income Tax Benefit (Expense)
Current Tax Benefit		12,653			-			12,072			24,725
Deferred Tax Benefit		(11,155	)		152,086			(32,740	)		108,191

Total Income Tax Benefit (Expense)		1,498			152,086			(20,668	)		132,916

Net Income (Loss)	$	1,679,716		$	(11,112	)	$	(539,760	)	$	1,128,844

Supplemental Disclosures

Total Assets	$	24,767,757		$	14,362,811		$	1,224,954		$	40,355,522

Total Liabilities	$	1,573,260		$	1,436,624		$	720,466		$	3,730,350

Revenues from Intercompany Sales - eliminated from sales above	$	370,629		$	49,201		$	675,000		$	1,094,830

Depreciation and Amortization	$	312,122		$	47,645		$	6,416		$	366,183

Purchases of Long-lived Assets	$	399,975		$	4,177		$	4,992		$	409,144

	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

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

		For the Three Months Ended January 31, 2021
		Marine		Marine
		Technology		Engineering		Grand
		Business		Business		Total
Disaggregation of Total Net Sales

Americas
	Equipment Sales	$	252,625	$	-	$	252,625
	Equipment Rentals		48,925		-		48,925
	Software Sales		-		-		-
	Engineering Parts		213,956		291,565		505,521
	Services		33,772		224,876		258,648
Europe
	Equipment Sales		894,104		220,957		1,115,061
	Equipment Rentals		153,109		-		153,109
	Software Sales		38,086		-		38,086
	Engineering Parts		-		564,782		564,782
	Services		39,813		-		39,813
Australia/Asia
	Equipment Sales		1,646,758		-		1,646,758
	Equipment Rentals		132,329		-		132,329
	Software Sales		187,136		-		187,136
	Services		41,987		-		41,987
Middle East & Africa
	Equipment Sales		-		-		-
	Equipment Rentals		-		-		-
	Software Sales		-		-		-
	Services		65,679		-		65,679

	Total Net Sales	$	3,748,279	$	1,302,180	$	5,050,459

			For the Three Months Ended January 31, 2021
			Marine		Marine
			Technology		Engineering		Grand
			Business		Business		Total
Total Net Sales by Geographic Area
	Americas	$	549,278	$	516,441	$	1,065,719
	Europe		1,125,112		785,739		1,910,851
	Australia/Asia		2,008,210		-		2,008,210
	Middle East & Africa		65,679		-		65,679

	Total Net Sales	$	3,748,279	$	1,302,180	$	5,050,459

			For the Three Months Ended January 31, 2021
			Marine		Marine
			Technology		Engineering		Grand
			Business		Business		Total
Total Net Sales by Product Line
	Equipment Sales	$	2,793,487	$	220,957	$	3,014,444
	Equipment Rentals		334,363		-		334,363
	Software Sales		225,222		-		225,222
	Engineering Parts		213,956		856,347		1,070,303
	Services		181,251		224,876		406,127

	Total Net Sales	$	3,748,279	$	1,302,180	$	5,050,459

		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