Schedule of Segment Reporting Information |
Information concerning principal
geographic areas is presented below according to the area where the activity has taken place for the three and six months ended
April 30, 2017 and 2016 respectively:
|
|
Marine
Technology
Business
(Products)
|
|
|
Marine
Engineering
Business
(Services)
|
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended April 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
3,299,545 |
|
|
$ |
1,979,213 |
|
|
$ |
- |
|
|
$ |
5,278,758 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
968,908 |
|
|
|
1,045,032 |
|
|
|
- |
|
|
|
2,013,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
2,330,638 |
|
|
|
934,181 |
|
|
|
- |
|
|
|
3,264,818 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
247,758 |
|
|
|
- |
|
|
|
- |
|
|
|
247,758 |
|
Selling, General & Administrative |
|
|
830,121 |
|
|
|
655,560 |
|
|
|
154,211 |
|
|
|
1,639,892 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
1,252,758 |
|
|
|
278,621 |
|
|
|
(154,211 |
) |
|
|
1,377,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
86,643 |
|
|
|
- |
|
|
|
- |
|
|
|
86,643 |
|
Interest Expense |
|
|
(181,806 |
) |
|
|
(75,002 |
) |
|
|
67,961 |
|
|
|
(188,847 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
(95,163 |
) |
|
|
(75,002 |
) |
|
|
67,961 |
|
|
|
(102,204 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
|
1,157,595 |
|
|
|
203,619 |
|
|
|
(86,250 |
) |
|
|
1,274,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
1,157,595 |
|
|
$ |
203,620 |
|
|
$ |
(86,249 |
) |
|
$ |
1,274,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,119,417 |
|
|
$ |
12,616,569 |
|
|
$ |
422,059 |
|
|
$ |
25,158,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
1,223,741 |
|
|
|
1,654,104 |
|
|
|
8,600,374 |
|
|
|
11,478,219 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
505,660 |
|
|
|
170,056 |
|
|
|
118,875 |
|
|
|
794,591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
145,800 |
|
|
|
71,056 |
|
|
|
3,106 |
|
|
|
219,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
643,603 |
|
|
|
26,852 |
|
|
|
- |
|
|
|
670,455 |
|
|
|
Marine
Technology
Business
(Products)
|
|
|
Marine
Engineering
Business
(Services)
|
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended April 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
2,397,476 |
|
|
$ |
3,348,499 |
|
|
$ |
- |
|
|
$ |
5,745,975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
707,906 |
|
|
|
1,528,945 |
|
|
|
- |
|
|
|
2,236,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
1,689,570 |
|
|
|
1,819,554 |
|
|
|
- |
|
|
|
3,509,124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
186,991 |
|
|
|
- |
|
|
|
- |
|
|
|
186,991 |
|
Selling, General & Administrative |
|
|
737,049 |
|
|
|
785,557 |
|
|
|
80,948 |
|
|
|
1,603,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
765,530 |
|
|
|
1,033,997 |
|
|
|
(80,948 |
) |
|
|
1,718,579 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
33,847 |
|
|
|
(77 |
) |
|
|
- |
|
|
|
33,770 |
|
Interest Expense |
|
|
(113,891 |
) |
|
|
(56,490 |
) |
|
|
565 |
|
|
|
(169,816 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
(80,044 |
) |
|
|
(56,567 |
) |
|
|
565 |
|
|
|
(136,046 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) before income taxes |
|
|
685,486 |
|
|
|
977,430 |
|
|
|
(80,383 |
) |
|
|
1,582,533 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
685,486 |
|
|
$ |
977,430 |
|
|
$ |
(80,383 |
) |
|
$ |
1,582,533 |
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,659,049 |
|
|
$ |
10,000,625 |
|
|
$ |
207,752 |
|
|
$ |
22,867,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
1,375,795 |
|
|
|
830,979 |
|
|
|
11,745,611 |
|
|
|
13,952,385 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
222,010 |
|
|
|
70,405 |
|
|
|
118,875 |
|
|
|
411,290 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
41,178 |
|
|
|
83,365 |
|
|
|
3,078 |
|
|
|
127,621 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
873,269 |
|
|
|
(10,175 |
) |
|
|
8,868 |
|
|
|
871,962 |
|
|
|
Marine
Technology
Business
(Products)
|
|
|
Marine
Engineering
Business
(Services)
|
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended April 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
5,750,144 |
|
|
$ |
4,886,817 |
|
|
$ |
- |
|
|
$ |
10,636,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
1,698,926 |
|
|
|
2,298,059 |
|
|
|
- |
|
|
|
3,996,985 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
4,051,218 |
|
|
|
2,588,758 |
|
|
|
- |
|
|
|
6,639,976 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
498,988 |
|
|
|
- |
|
|
|
- |
|
|
|
498,988 |
|
Selling, General & Administrative |
|
|
1,404,770 |
|
|
|
1,341,971 |
|
|
|
299,039 |
|
|
|
3,045,780 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
2,147,460 |
|
|
|
1,246,787 |
|
|
|
(299,039 |
) |
|
|
3,095,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
136,059 |
|
|
|
- |
|
|
|
- |
|
|
|
136,059 |
|
Interest (Expense) Income |
|
|
(532,141 |
) |
|
|
(199,223 |
) |
|
|
347,023 |
|
|
|
(384,341 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
(396,082 |
) |
|
|
(199,223 |
) |
|
|
347,023 |
|
|
|
(248,282 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) before income taxes |
|
|
1,751,378 |
|
|
|
1,047,564 |
|
|
|
47,984 |
|
|
|
2,846,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
1,751,378 |
|
|
$ |
1,047,564 |
|
|
$ |
47,984 |
|
|
$ |
2,846,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,119,417 |
|
|
$ |
12,616,569 |
|
|
$ |
422,059 |
|
|
$ |
25,158,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
1,223,741 |
|
|
|
1,654,104 |
|
|
|
8,600,374 |
|
|
|
11,478,219 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
678,513 |
|
|
|
229,955 |
|
|
|
237,750 |
|
|
|
1,146,218 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
247,263 |
|
|
|
142,781 |
|
|
|
6,317 |
|
|
|
396,361 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
2,289,063 |
|
|
|
49,033 |
|
|
|
12,470 |
|
|
|
2,350,566 |
|
|
|
Marine
Technology
Business
(Products)
|
|
|
Marine
Engineering
Business
(Services)
|
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For Six Months Ended April 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
5,389,099 |
|
|
$ |
5,132,715 |
|
|
$ |
- |
|
|
$ |
10,521,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
2,068,408 |
|
|
|
2,709,592 |
|
|
|
- |
|
|
|
4,778,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
3,320,691 |
|
|
|
2,423,123 |
|
|
|
- |
|
|
|
5,743,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
415,291 |
|
|
|
- |
|
|
|
- |
|
|
|
415,291 |
|
Selling, General & Administrative |
|
|
1,389,535 |
|
|
|
1,570,879 |
|
|
|
202,679 |
|
|
|
3,163,093 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss) |
|
|
1,515,865 |
|
|
|
852,244 |
|
|
|
(202,679 |
) |
|
|
2,165,430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
99,764 |
|
|
|
5,898 |
|
|
|
- |
|
|
|
105,662 |
|
Interest Expense |
|
|
(285,077 |
) |
|
|
(113,818 |
) |
|
|
(143 |
) |
|
|
(399,038 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense) |
|
|
(185,313 |
) |
|
|
(107,920 |
) |
|
|
(143 |
) |
|
|
(293,376 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) before income taxes |
|
|
1,330,552 |
|
|
|
744,324 |
|
|
|
(202,822 |
) |
|
|
1,872,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit (expense) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
1,330,552 |
|
|
$ |
744,324 |
|
|
$ |
(202,822 |
) |
|
$ |
1,872,054 |
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
12,659,049 |
|
|
$ |
10,000,625 |
|
|
$ |
207,752 |
|
|
$ |
22,867,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
|
1,375,795 |
|
|
|
830,979 |
|
|
|
11,745,611 |
|
|
|
13,952,385 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
|
356,402 |
|
|
|
241,353 |
|
|
|
244,000 |
|
|
|
841,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
|
125,635 |
|
|
|
174,719 |
|
|
|
6,432 |
|
|
|
306,786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
|
719,307 |
|
|
|
21,798 |
|
|
|
8,868 |
|
|
|
749,973 |
|
|
|
USA |
|
|
Europe |
|
|
Australia |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External Revenues by Geographic Locations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended April 30, 2017 |
|
$ |
2,525,908 |
|
|
$ |
2,614,898 |
|
|
$ |
137,953 |
|
|
$ |
5,278,758 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended April 30, 2016 |
|
$ |
3,291,480 |
|
|
$ |
2,176,818 |
|
|
$ |
277,677 |
|
|
$ |
5,745,975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended April 30, 2017 |
|
$ |
5,275,675 |
|
|
$ |
4,631,934 |
|
|
$ |
729,352 |
|
|
$ |
10,636,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended April 30, 2016 |
|
$ |
4,955,901 |
|
|
$ |
4,763,447 |
|
|
$ |
802,466 |
|
|
$ |
10,521,814 |
|
|