Optical Cable (OCC) 10-Q 13 Mar 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jan. 31, 2018	Mar. 08, 2018
Document Information [Line Items]
Entity Registrant Name	OPTICAL CABLE CORP
Entity Central Index Key	1,000,230
Trading Symbol	occ
Current Fiscal Year End Date	--10-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		7,654,247
Document Type	10-Q
Document Period End Date	Jan. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jan. 31, 2018	Oct. 31, 2017
Current assets:
Cash	$ 528,949	$ 891,169
Trade accounts receivable, net of allowance for doubtful accounts of $107,808 at January 31, 2018 and $87,446 at October 31, 2017	11,309,222	8,940,540
Other receivables	22,123	72,098
Inventories	17,621,540	16,781,449
Prepaid expenses	453,328	418,122
Total current assets	29,935,162	27,103,378
Property and equipment, net	11,892,289	12,210,692
Income taxes refundable - noncurrent	35,118
Intangible assets, net	642,686	624,264
Other assets, net	106,085	200,846
Total assets	42,611,340	40,139,180
Current liabilities:
Current installments of long-term debt	253,266	250,726
Accounts payable and accrued expenses	4,996,246	2,590,252
Accrued compensation and payroll taxes	1,707,354	1,340,749
Income taxes payable	16,806	15,150
Total current liabilities	6,973,672	4,196,877
Note payable to bank	5,900,000	5,700,000
Long-term debt, excluding current installments	6,355,868	6,419,607
Other noncurrent liabilities	124,558	133,174
Total liabilities	19,354,098	16,449,658
Shareholders’ equity:
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding	0	0
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,674,938 shares at January 31, 2018 and 7,315,605 shares at October 31, 2017	11,739,876	11,762,021
Retained earnings	11,517,366	11,927,501
Total shareholders’ equity	23,257,242	23,689,522
Commitments and contingencies
Total liabilities and shareholders’ equity	$ 42,611,340	$ 40,139,180

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Jan. 31, 2018	Oct. 31, 2017
Allowance for doubtful accounts	$ 107,808	$ 87,446
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	7,674,938	7,315,605
Common stock, shares outstanding (in shares)	7,674,938	7,315,605

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Net sales	$ 17,551,040	$ 14,606,252
Cost of goods sold	12,322,220	9,795,853
Gross profit	5,228,820	4,810,399
Selling, general and administrative expenses	5,557,693	5,192,648
Royalty (income) expense, net	(5,415)	31,251
Amortization of intangible assets	7,239	5,829
Loss from operations	(330,697)	(419,329)
Other expense, net:
Interest expense	(128,826)	(147,813)
Other, net	9,903	(69,225)
Other expense, net	(118,923)	(217,038)
Loss before income taxes	(449,620)	(636,367)
Income tax benefit	(39,485)	(20,600)
Net loss	$ (410,135)	$ (615,767)
Net loss per share: Basic and diluted (in dollars per share)	$ (0.06)	$ (0.09)

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - 3 months ended Jan. 31, 2018 - USD ($)	Common Stock [Member]	Retained Earnings [Member]	Total
Balances (in shares) at Oct. 31, 2017	7,315,605
Balances at Oct. 31, 2017	$ 11,762,021	$ 11,927,501	$ 23,689,522
Share-based compensation, net (in shares)	(359,333)
Share-based compensation, net	$ (22,145)		(22,145)
Net loss		(410,135)	(410,135)
Balances (in shares) at Jan. 31, 2018	7,674,938
Balances at Jan. 31, 2018	$ 11,739,876	$ 11,517,366	$ 23,257,242

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Cash flows from operating activities:
Net loss	$ (410,135)	$ (615,767)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, amortization and accretion	408,284	506,342
Bad debt expense (recovery)	23,489	(568)
Share-based compensation expense	113,354	148,920
Loss on sale of property and equipment	6,597	78,482
(Increase) decrease in:
Trade accounts receivable	(2,392,171)	382,725
Other receivables	49,975	21,437
Inventories	(840,091)	(1,017,384)
Prepaid expenses	(35,206)	(14,555)
Income taxes refundable - noncurrent	(35,118)
Increase (decrease) in:
Accounts payable and accrued expenses	2,453,419	465,111
Accrued compensation and payroll taxes	366,605	5,873
Income taxes payable	1,656	(2,100)
Other noncurrent liabilities	(8,616)	(27,428)
Net cash used in operating activities	(297,958)	(68,912)
Cash flows from investing activities:
Purchase of and deposits for the purchase of property and equipment	(41,903)	(68,117)
Investment in intangible assets	(25,661)	2,277
Net cash used in investing activities	(67,564)	(65,840)
Cash flows from financing activities:
Payroll taxes withheld and remitted on share-based payments	(135,499)	(11,279)
Proceeds from note payable to bank	750,000
Principal payments on long-term debt and note payable to bank	(611,199)	(471,758)
Repurchase of common stock		(15,594)
Net cash provided by (used in) financing activities	3,302	(498,631)
Net decrease in cash	(362,220)	(633,383)
Cash at beginning of period	891,169	1,879,064
Cash at end of period	$ 528,949	$ 1,245,681

Note 1 - General

Note 1 - General	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	( 1 General The accompanying unaudited condensed consolidated financial statements of Optical Cable Corporation and its subsidiaries (collectively, the “Company” or “OCC ® 10 X. not three January 31, 2018 not October 31, 2018 may 10 October 31, 2017 10 not 10 October 31, 2017. In July 2015, 2015 11, Simplifying the Measurement of Inventory 2015 11” 2015 11 first first 2015 11 December 15, 2016, 2015 11 November 1, 2017. not In March 2016, 2016 09, Compensation - Stock Compensation (Topic 718 2016 09” 2016 09 2016 09 December 15, 2016, 2016 09 November 1, 2017. not

Note 2 - Stock Incentive Plans

Note 2 - Stock Incentive Plans and Other Share-based Compensation	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	( 2 Stock Incentive Plans and Other Share-Based Compensation As of January 31, 2018, 225,000 2017 “2017 Share-based compensation expense for employees, a consultant and non-employee Directors recognized in the condensed consolidated statements of operations for the three January 31, 2018 2017 113,354 $148,920, Restricted and Other Stock Awards The Company has granted, and anticipates granting from time to time, restricted stock awards subject to approval by the Compensation Committee of the Board of Directors. Since fiscal year 2004, During the three January 31, 2018, 2017 445,689 five January 31, 2019 R estricted stock award activity during the three January 31, 2018 445,689 28,693 57,663. As of January 31, 2018, 3.5 $3.2

Note 3 - Allowance for Doubtful

Note 3 - Allowance for Doubtful Accounts for Trade Accounts Receivable	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Allowance for Doubtful Accounts for Trade Accounts Receivable Disclosure [Text Block]	( 3 Allowance for Doubtful Accounts for Trade Accounts Receivable A summary of changes in the allowance for doubtful accounts for trade accounts receivable for the three January 31, 2018 2017 Three Months Ended January 31, 2018 2017 Balance at beginning of period $ 87,446 $ 74,266 Bad debt expense (recovery) 23,489 (568 ) Losses charged to allowance (3,127 ) (4,729 ) Balance at end of period $ 107,808 $ 68,969

Note 4 - Inventories

Note 4 - Inventories	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 4 Inventories Inventories as of January 31, 2018 October 31, 2017 January 31, October 31, 2018 2017 Finished goods $ 5,131,672 $ 5,869,269 Work in process 3,501,825 2,507,434 Raw materials 8,705,484 8,108,433 Production supplies 282,559 296,313 Total $ 17,621,540 $ 16,781,449

Note 5 - Product Warranties

Note 5 - Product Warranties	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	( 5 Product Warranties As of January 31, 2018 October 31, 2017, $140,000 $180,000, three January 31, 2018 2017 $41,996 $47,855, The following table summarizes the changes in the Company ’s accrual for product warranties during the three January 31, 2018 2017: Three Months Ended January 31, 2018 2017 Balance at beginning of period $ 180,000 $ 70,000 Liabilities accrued for warranties issued during the period 120,308 71,161 Warranty claims and costs paid during the period (81,996 ) (32,855 ) Changes in liability for pre-existing warranties during the period (78,312 ) (23,306 ) Balance at end of period $ 140,000 $ 85,000

Note 6 - Long-term Debt and Not

Note 6 - Long-term Debt and Note Payable to Bank	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Long-term Debt [Text Block]	( 6 Long-term Debt and Note Payable to Bank The Company has credit facilities consisting of a real estate term loan, as amended and restated (the “Virginia Real Estate Loan”), a supplemental real estate term loan, as amended and restated (the “North Carolina Real Estate Loan”) and a revolving credit note. Both the Virginia Real Estate Loan and the North Carolina Real Estate Loan are with Pinnacle Financial Partners (“Pinnacle”), have a fixed interest rate of 3.95% first first Long-term debt a s of January 31, 2018 October 31, 2017 January 31, October 31, 2018 2017 Virginia Real Estate Loan ($6.5 million original principal) payable in monthly installments of $31,812, including interest (at 3.95%), with final payment of $3,644,211 due May 1, 2024 $ 4,915,223 $ 4,960,738 North Carolina Real Estate Loan ($2.24 million original principal) payable in monthly installments of $10,963, including interest (at 3.95%), with final payment of $1,255,850 due May 1, 2024 1,693,911 1,709,595 Total long-term debt 6,609,134 6,670,333 Less current installments 253,266 250,726 Long-term debt, excluding current installments $ 6,355,868 $ 6,419,607 The Revolving Credit Note (“Revolver”) with Pinnacle provides the Company with a $7.0 one $7.0 may March 31, 2019. T he applicable margin in the Revolving Credit Note has a floor on the interest rate for the Revolving Credit Note such that the rate will never be less than 2.50% 2.50% 4.07% January 31, 2018). The Revolving Loan is secured by a perfected first not As of January 31, 2018, $5.9 $1.1 October 31, 2017, $5.7 $1.3

Note 7 - Fair Value Measurement

Note 7 - Fair Value Measurements	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 7 Fair Value Measurements The carrying amounts reported in the condensed consolidated balance sheets as of January 31, 2018 October 31, 2017 January 31, 2018 October 31, 2017.

Note 8 - Net Loss Per Share

Note 8 - Net Loss Per Share	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	8 Net Loss Per Share Basic net loss per share excludes dilution and is computed by dividing net loss available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net loss of the Company. The following is a reconciliation of the numerators and denominators of the net loss per share computations for the periods presented: Three months ended January 31, 2018 2017 Net loss (numerator) $ (410,135 ) $ (615,767 ) Shares (denominator) 6,667,595 6,486,739 Basic and diluted net loss per share $ (0.06 ) $ (0.09 ) Weighted average unvested shares for the three January 31, 2018 2017 643,005 623,415, not three January 31, 2018 2017

Note 9 - Segment Information an

Note 9 - Segment Information and Business and Credit Concentrations	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	( 9 Segment Information and Business and Credit Concentrations The Company provides credit, in the normal course of business, to various commercial enterprises, governmental entities and not -for-profit organizations. Concentration of credit risk with respect to trade receivables is limited due to the Company’s large number of customers. The Company also manages exposure to credit risk through credit approvals, credit limits and monitoring procedures. Management believes that credit risks as of January 31, 2018 For the three January 31, 201 8, 21.3% one three January 31, 2017, 16.5% The Company has a single

Note 10 - Contingencies

Note 10 - Contingencies	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 10 Contingencies From time to time, the Company is involved in various claims, legal actions and regulatory reviews arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not ’s financial position, results of operations or liquidity.

Note 11 - New Accounting Standa

Note 11 - New Accounting Standards Not Yet Adopted	3 Months Ended
	Jan. 31, 2018
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	( 1 1 New Accounting Standards Not In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09” 2014 09 August 2015, 2015 14, Revenue from Contracts with Customers (Topic 606 2015 14” one 2015 14, 2019. 2016 08, 2016 10, 2016 11, 2016 12, 2016 20 2017 14 2014 09. not no In February 2016, 2016 02, Leases 2016 02” 2016 02 2016 02 December 15, 2018, 2016 02 2016 02 may two not In August 2016, 2016 15, Statement of Cash Flows (Topic 230 2016 15” 2016 15 eight 2016 15 December 15, 2017, 2016 15 not In October 2016, 2016 16, Income Taxes (Topic 740 2016 16” 2016 16 third 2016 16 December 15, 2017, 2016 16 not There are no other new accounting standards issued, but not

Note 3 - Allowance for Doubtf18

Note 3 - Allowance for Doubtful Accounts for Trade Accounts Receivable (Tables)	3 Months Ended
	Jan. 31, 2018
Notes Tables
Summary of Changes in the Allowance for Doubtful Accounts for Trade Accounts Receivable [Table Text Block]	Three Months Ended January 31, 2018 2017 Balance at beginning of period $ 87,446 $ 74,266 Bad debt expense (recovery) 23,489 (568 ) Losses charged to allowance (3,127 ) (4,729 ) Balance at end of period $ 107,808 $ 68,969

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	3 Months Ended
	Jan. 31, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	January 31, October 31, 2018 2017 Finished goods $ 5,131,672 $ 5,869,269 Work in process 3,501,825 2,507,434 Raw materials 8,705,484 8,108,433 Production supplies 282,559 296,313 Total $ 17,621,540 $ 16,781,449

Note 5 - Product Warranties (Ta

Note 5 - Product Warranties (Tables)	3 Months Ended
	Jan. 31, 2018
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended January 31, 2018 2017 Balance at beginning of period $ 180,000 $ 70,000 Liabilities accrued for warranties issued during the period 120,308 71,161 Warranty claims and costs paid during the period (81,996 ) (32,855 ) Changes in liability for pre-existing warranties during the period (78,312 ) (23,306 ) Balance at end of period $ 140,000 $ 85,000

Note 6 - Long-term Debt and N21

Note 6 - Long-term Debt and Note Payable to Bank (Tables)	3 Months Ended
	Jan. 31, 2018
Notes Tables
Schedule of Debt [Table Text Block]	January 31, October 31, 2018 2017 Virginia Real Estate Loan ($6.5 million original principal) payable in monthly installments of $31,812, including interest (at 3.95%), with final payment of $3,644,211 due May 1, 2024 $ 4,915,223 $ 4,960,738 North Carolina Real Estate Loan ($2.24 million original principal) payable in monthly installments of $10,963, including interest (at 3.95%), with final payment of $1,255,850 due May 1, 2024 1,693,911 1,709,595 Total long-term debt 6,609,134 6,670,333 Less current installments 253,266 250,726 Long-term debt, excluding current installments $ 6,355,868 $ 6,419,607

Note 8 - Net Loss Per Share (Ta

Note 8 - Net Loss Per Share (Tables)	3 Months Ended
	Jan. 31, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended January 31, 2018 2017 Net loss (numerator) $ (410,135 ) $ (615,767 ) Shares (denominator) 6,667,595 6,486,739 Basic and diluted net loss per share $ (0.06 ) $ (0.09 )

Note 2 - Stock Incentive Plan23

Note 2 - Stock Incentive Plans and Other Share-based Compensation (Details Textual) - USD ($)	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Allocated Share-based Compensation Expense	$ 113,354	$ 148,920
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 182 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 3,200,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	445,689
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	28,693
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings	57,663
Restricted Stock [Member] | Vesting Period Commencing on January 31, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
The 2017 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	225,000

Note 3 - Allowance for Doubtf24

Note 3 - Allowance for Doubtful Accounts for Trade Accounts Receivable - Summary of Changes in the Allowance for Doubtful Accounts for Trade Accounts Receivable (Details) - USD ($)	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Balance	$ 87,446	$ 74,266
Bad debt expense (recovery)	23,489	(568)
Losses charged to allowance	(3,127)	(4,729)
Balance	$ 107,808	$ 68,969

Note 4 - Inventories - Componen

Note 4 - Inventories - Components of Inventories (Details) - USD ($)	Jan. 31, 2018	Oct. 31, 2017
Finished goods	$ 5,131,672	$ 5,869,269
Work in process	3,501,825	2,507,434
Raw materials	8,705,484	8,108,433
Production supplies	282,559	296,313
Total	$ 17,621,540	$ 16,781,449

Note 5 - Product Warranties (De

Note 5 - Product Warranties (Details Textual) - USD ($)	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Oct. 31, 2017	Oct. 31, 2016
Standard and Extended Product Warranty Accrual	$ 140,000	$ 85,000	$ 180,000	$ 70,000
Product Warranty Expense	41,996	$ 47,855
Accounts Payable and Accrued Liabilities [Member]
Standard and Extended Product Warranty Accrual	$ 140,000		$ 180,000

Note 5 - Product Warranties - C

Note 5 - Product Warranties - Changes in Accrual for Product Warranties (Details) - USD ($)	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Balance at beginning of period	$ 180,000	$ 70,000
Liabilities accrued for warranties issued during the period	120,308	71,161
Warranty claims and costs paid during the period	(81,996)	(32,855)
Changes in liability for pre-existing warranties during the period	(78,312)	(23,306)
Balance at end of period	$ 140,000	$ 85,000

Note 6 - Long-term Debt and N28

Note 6 - Long-term Debt and Note Payable to Bank (Details Textual) - Pinnacle Financial Partners [Member] - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2018	Oct. 01, 2017
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 7
Long-term Line of Credit	5.9	$ 5.7
Line of Credit Facility, Remaining Borrowing Capacity	$ 1.1	$ 1.3
Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Interest Rate, Effective Percentage	4.07%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage	2.50%
Virginia Real Estate Loan and North Carolina Real Estate Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.95%

Note 6 - Long-term Debt and N29

Note 6 - Long-term Debt and Note Payable to Bank - Long-term Debt (Details) - USD ($)	Jan. 31, 2018	Oct. 31, 2017
Long-term Loan	$ 6,609,134	$ 6,670,333
Less current installments	253,266	250,726
Long-term debt, excluding current installments	6,355,868	6,419,607
Virginia Real Estate Loan [Member]
Long-term Loan	4,915,223	4,960,738
North Carolina Real Estate Loan [Member]
Long-term Loan	$ 1,693,911	$ 1,709,595

Note 6 - Long-term Debt and N30

Note 6 - Long-term Debt and Note Payable to Bank - Long-term Debt (Details) (Parentheticals) - USD ($)	3 Months Ended	12 Months Ended
	Jan. 31, 2018	Oct. 31, 2017
Virginia Real Estate Loan [Member]
Original principal	$ 6,500,000	$ 6,500,000
Monthly installments	$ 31,812	$ 31,812
Debt Instrument, Interest Rate, Stated Percentage	3.95%	3.95%
Final payment	$ 3,644,211	$ 3,644,211
Maturity date	May 1, 2024	May 1, 2024
North Carolina Real Estate Loan [Member]
Original principal	$ 2,240,000	$ 2,240,000
Monthly installments	$ 10,963	$ 10,963
Debt Instrument, Interest Rate, Stated Percentage	3.95%	3.95%
Final payment	$ 1,255,850	$ 1,255,850
Maturity date	May 1, 2024	May 1, 2024

Note 8 - Net Loss Per Share (De

Note 8 - Net Loss Per Share (Details Textual) - shares	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	643,005	623,415

Note 8 - Net Loss Per Share - C

Note 8 - Net Loss Per Share - Components of Reconciliation of Numerators and Denominators Net Loss Per Share (Details) - USD ($)	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Net loss (numerator)	$ (410,135)	$ (615,767)
Shares (denominator) (in shares)	6,667,595	6,486,739
Basic and diluted net loss per share (in dollars per share)	$ (0.06)	$ (0.09)

Note 9 - Segment Information 33

Note 9 - Segment Information and Business and Credit Concentrations (Details Textual)	3 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Number of Reportable Segments	1
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Concentration Risk, Percentage	21.30%	16.50%
Concentration Risk, Number of Customers	1