Optical Cable (OCC) 10-K 27 Jan 20 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	Oct. 31, 2019	Jan. 20, 2020	Apr. 30, 2019
Document Information [Line Items]
Entity Registrant Name	OPTICAL CABLE CORPORATION
Document, Type	10-K
Document, Annual Report	true
Document, Transition Report	false
Document, Period End Date	Oct. 31, 2019
Entity, File Number	0-27022
Entity, Incorporation, State or Country Code	VA
Entity, Tax Identification Number	54-1237042
Entity, Address, Address Line One	5290 Concourse Drive
Entity, Address, City or Town	Roanoke
Entity, Address, State or Province	VA
Entity, Address, Postal Zip Code	24019
City Area Code	540
Local Phone Number	265-0690
Title of 12(b) Security	Common Stock
Trading Symbol	OCC
Security Exchange Name	NASDAQ
Entity, Well-known Seasoned Issuer	No
Entity, Voluntary Filers	No
Entity, Current Reporting Status	Yes
Entity, Interactive Data, Current	Yes
Entity, Filer Category	Non-accelerated Filer
Entity, Small Business	true
Entity, Emerging Growth Company	false
Entity, Shell Company	false
Entity, Public Float			$ 28,104,347
Entity, Common Stock Shares, Outstanding		7,458,981
Documents Incorporated By Reference Text Block	Portions of the Company’s Annual Report filed as Exhibit 13.1 to this report on Form 10-K are incorporated by reference in Part II of this Form 10-K Report: “Corporate Information,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Consolidated Financial Statements,” “Notes to Consolidated Financial Statements,” and “Report of Independent Registered Public Accounting Firm.” In addition, portions of the Company’s Proxy Statement for the 2020 Annual Meeting of Shareholders are incorporated by reference in Part III of this Form 10-K Report: “Election of Directors,” “Beneficial Ownership of Securities,” “Compensation of Executive Officers,” “Compensation of Directors,” “Compliance with Section 16(a) of the Securities Exchange Act of 1934,” “Code of Ethics,” “Executive Compensation,” “Beneficial Ownership of Securities,” “Equity Compensation Plans Information,” “Certain Relationships and Related Transactions,” “Independent Registered Public Accounting Firm,” and “Audit Committee Pre-approval of Audit and Permissible Non-audit Services of Independent Registered Public Accounting Firm.”
Amendment Flag	false
Entity Central Index Key	0001000230
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Oct. 31, 2019	Oct. 31, 2018
Current assets:
Cash	$ 537,330	$ 177,413
Trade accounts receivable, net of allowance for doubtful accounts of $99,562 in 2019 and $64,242 in 2018	10,347,597	12,832,890
Income taxes refundable - current	25,004	0
Other receivables	69,727	61,951
Inventories	18,095,627	17,474,755
Prepaid expenses and other assets	304,713	500,021
Total current assets	29,379,998	31,047,030
Property and equipment, net	10,010,223	11,204,639
Income taxes refundable - noncurrent	25,003	49,281
Intangible assets, net	659,280	635,035
Other assets, net	32,430	162,475
Total assets	40,106,934	43,098,460
Current liabilities:
Current installments of long-term debt	738,955	260,954
Note payable to bank - current	5,650,000	0
Accounts payable and accrued expenses	5,459,352	3,256,153
Accrued compensation and payroll taxes	1,763,338	3,489,070
Income taxes payable	15,382	21,666
Total current liabilities	13,627,027	7,027,843
Note payable to bank - noncurrent	0	3,000,000
Long-term debt, excluding current installments	5,169,668	6,158,630
Other noncurrent liabilities	71,339	101,150
Total liabilities	18,868,034	16,287,623
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 7,458,981 shares in 2019 and 7,694,387 shares in 2018	13,853,334	13,816,140
Retained earnings	7,385,566	12,994,697
Total shareholders’ equity	21,238,900	26,810,837
Commitments and contingencies
Total liabilities and shareholders’ equity	$ 40,106,934	$ 43,098,460

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands	Oct. 31, 2019	Oct. 31, 2018
Allowance for doubtful accounts	$ 99,562	$ 64,242
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, no 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)	7,458,981	7,694,387
Common stock, shares outstanding (in shares)	7,458,981	7,694,387

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Net sales	$ 71,324,446	$ 87,828,590	$ 64,092,848
Cost of goods sold	53,019,699	59,955,390	43,294,921
Gross profit	18,304,747	27,873,200	20,797,927
Selling, general and administrative expenses	23,434,360	26,130,956	21,968,757
Royalty (income) expense, net	(6,510)	(32,898)	120,478
Amortization of intangible assets	38,598	34,768	25,704
Income (loss) from operations	(5,161,701)	1,740,374	(1,317,012)
Other expense, net:
Interest expense	(521,142)	(608,417)	(523,035)
Other, net	7,717	(79,855)	95,838
Other expense, net	(513,425)	(688,272)	(427,197)
Income (loss) before income taxes	(5,675,126)	1,052,102	(1,744,209)
Total Net Income Tax Expense (Benefit)	(5,805)	(16,651)	(5,438)
Net income (loss)	$ (5,669,321)	$ 1,068,753	$ (1,738,771)
Net income (loss) per share - basic and diluted (in dollars per share)	$ (0.77)	$ 0.14	$ (0.27)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)	Common Stock [Member]	Retained Earnings [Member]	Total
Balances (in shares) at Oct. 31, 2016	7,081,159
Balances at Oct. 31, 2016	$ 11,080,595	$ 13,684,394	$ 24,764,989
Share-based compensation, net (in shares)	240,147
Share-based compensation, net	$ 681,426	0	681,426
Repurchase and retirement of common stock (at cost) (in shares)	(5,701)
Repurchase and retirement of common stock (at cost)	$ 0	(18,122)	(18,122)
Net income (loss)	$ 0	(1,738,771)	(1,738,771)
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)	379,054
Share-based compensation, net	$ 2,054,119	0	2,054,119
Repurchase and retirement of common stock (at cost) (in shares)	(272)
Repurchase and retirement of common stock (at cost)	$ 0	(1,557)	(1,557)
Net income (loss)	$ 0	1,068,753	1,068,753
Balances (in shares) at Oct. 31, 2018	7,694,387
Balances at Oct. 31, 2018	$ 13,816,140	12,994,697	26,810,837
Share-based compensation, net (in shares)	(235,055)
Share-based compensation, net	$ 37,194	0	$ 37,194
Repurchase and retirement of common stock (at cost) (in shares)	(351)		(351)
Repurchase and retirement of common stock (at cost)	$ 0	(1,573)	$ (1,573)
Net income (loss)	0	(5,669,321)	(5,669,321)
Adoption of accounting standard ASC 606	$ 0	61,763	61,763
Balances (in shares) at Oct. 31, 2019	7,458,981
Balances at Oct. 31, 2019	$ 13,853,334	$ 7,385,566	$ 21,238,900

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ (5,669,321)	$ 1,068,753	$ (1,738,771)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, amortization and accretion	1,720,562	1,817,597	1,675,519
Bad debt expense (recovery)	60,381	(18,455)	21,569
Share-based compensation expense	980,549	2,224,620	787,100
Loss on sale of property and equipment	2,058	56,710	103,145
(Increase) decrease in:
Trade accounts receivable	2,424,912	(3,873,895)	(45,864)
Other receivables	(7,776)	10,147	(1,270)
Income taxes refundable	(726)	(49,281)	0
Inventories	(620,872)	(693,306)	(1,757,483)
Prepaid expenses and other assets	243,778	(81,899)	13,658
Other assets	21,473	0	0
Increase (decrease) in:
Accounts payable and accrued expenses	2,323,012	622,444	(78,129)
Accrued compensation and payroll taxes	(1,725,732)	2,148,321	160,877
Income taxes payable	(6,284)	6,516	(453)
Other noncurrent liabilities	(29,811)	(32,024)	173,031
Net cash provided by (used in) operating activities	(283,797)	3,206,248	(687,071)
Cash flows from investing activities:
Purchase of and deposits for the purchase of property and equipment	(487,554)	(688,856)	(508,909)
Investment in intangible assets	(62,843)	(45,539)	(74,958)
Net cash used in investing activities	(550,397)	(734,395)	(583,867)
Cash flows from financing activities:
Payroll taxes withheld and remitted on share-based payments	(943,355)	(170,501)	(105,674)
Proceeds from note payable to bank	2,850,000	9,550,000	1,550,000
Principal payments on long-term debt and note payable to bank	(710,961)	(12,500,749)	(1,125,661)
Payments for financing costs	0	(62,802)	(17,500)
Repurchase of common stock	(1,573)	(1,557)	(18,122)
Net cash provided by (used in) financing activities	1,194,111	(3,185,609)	283,043
Net increase (decrease) in cash	359,917	(713,756)	(987,895)
Cash at beginning of year	177,413	891,169	1,879,064
Cash at end of year	537,330	177,413	891,169
Supplemental disclosure of cash flow information:
Cash payments for interest	515,995	503,899	452,918
Income taxes paid, net of refunds	30,483	27,808	15,613
Noncash investing and financing activities:
Capital expenditures accrued in accounts payable at year end	$ 0	$ 118,203	$ 45,901

Note 1 - Description of Busines

Note 1 - Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	( 1 Description of Business and Summary of Significant Accounting Policies (a) Description of Business Optical Cable Corporation and its subsidiaries (collectively, the “Company” or “OCC ® Founded in 1983, The Company’s cabling and connectivity products are used for high bandwidth transmission of data, video and audio communications. The Company’s product offering includes products well-suited for use in various other short- to moderate-distance applications as well. The Company’s products are sold worldwide. Also see note 10. (b) Principles of Consolidation The accompanying consolidated financial statements include the accounts of Optical Cable Corporation and its wholly owned and majority-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. (c) Cash and Cash Equivalents All of the Company’s bank accounts are insured by the Federal Deposit Insurance Corporation (FDIC). As of October 31, 2019, October 31, 2018 not For purposes of the consolidated statements of cash flows, the Company considers all highly liquid debt instruments with original maturities of three October 31, 2019 2018, (d) Trade Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are recorded at the invoiced amount and do not may no not (e) Inventories Inventories are stated at the lower of cost and net realizable value. The determination of cost includes raw materials, direct labor and manufacturing overhead. The cost of optical fibers, included in raw materials, is determined using specific identification for optical fibers. The cost of other raw materials and production supplies is generally determined using the first first may 3. (f) Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are provided for using both straight-line and declining balance methods over the estimated useful lives of the assets. Estimated useful lives are thirty thirty-nine three fifteen 4. (g) Patents and Trademarks The Company records legal fees associated with patent and trademark applications as intangible assets. Such intangible assets are not not (h) Revenue Recognition The Company recognizes revenue at the time product is transferred to the customer (including distributors) at an amount that reflects the consideration expected to be received in exchange for the product. Customers generally do not 11. The Company recognizes royalty income (if any), net of related expenses, on an accrual basis and estimates royalty income earned based on historical experience. (i) Shipping and Handling Costs Shipping and handling costs include the costs incurred to physically move finished goods from the Company’s warehouse to the customers’ designated location. All shipping and handling activities related to contracts with customers as a cost to fulfill its promise to transfer control of the related product are classified as sales revenue. Shipping and handling costs of approximately $2.1 million, $2.2 million and $1.9 million are included in selling, general and administrative expenses for the fiscal years ended October 31, 2019, 2018 2017, (j) Research and Development Research and development costs are expensed as incurred. Research and development costs totaled approximately $1.2 million for the fiscal year ended October 31, 2019 October 31, 2018 2017 (k) Advertising Advertising costs are expensed as incurred. Advertising costs totaled approximately $196,000, $250,000 and $313,000 for the fiscal years ended October 31, 2019, 2018 2017, (l) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss, capital loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not 50% 12. (m) Long-Lived Assets Long-lived assets, such as property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not no (n) Stock Incentive Plans and Other Share-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments based upon the grant-date fair value of those awards. Also see note 9. (o) Net Income (Loss) Per Share Basic net income (loss) per share excludes dilution and is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding for the period. In the case of basic net income per share, the calculation includes common shares outstanding issued as share-based compensation and still subject to vesting requirements. In the case of basic net loss per share, the calculation excludes common shares outstanding issued as share-based compensation and still subject to vesting requirements, as these shares are considered dilutive. Diluted net income (loss) per share also is calculated by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding for the period, and 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 income (loss) of the Company. The diluted net income (loss) per share calculation includes all common shares outstanding issued as share-based compensation and still subject to vesting requirements in the calculation of diluted net income, but not 14. (p) Commitments and Contingencies Liabilities for loss contingencies arising from product warranties and defects, claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. (q) Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 2 - Allowance for Doubtful

Note 2 - Allowance for Doubtful Accounts for Trade Accounts Receivable	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Allowance for Doubtful Accounts for Trade Accounts Receivable Disclosure [Text Block]	( 2 Allowance for Doubtful Accounts for Trade Accounts Receivable A summary of changes in the allowance for doubtful accounts for trade accounts receivable for the years ended October 31, 2019, 2018 2017 Years ended October 31, 2019 2018 2017 Balance at beginning of year $ 64,242 $ 87,446 $ 74,266 Bad debt expense (recovery) 60,381 (18,455 ) 21,569 Losses charged to allowance (25,061 ) (4,749 ) (8,389 ) Balance at end of year $ 99,562 $ 64,242 $ 87,446

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 3 Inventories Inventories as of October 31, 2019 2018 October 31, 2019 2018 Finished goods $ 5,845,973 $ 5,454,629 Work in process 3,321,216 3,877,670 Raw materials 8,632,230 7,871,145 Production supplies 296,208 271,311 Total $ 18,095,627 $ 17,474,755

Note 4 - Property and Equipment

Note 4 - Property and Equipment, Net	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 4 Property and Equipment, Net Property and equipment, net as of October 31, 2019 2018 October 31, 2019 2018 Land and land improvements $ 3,148,834 $ 3,148,834 Building and improvements 8,245,585 8,244,384 Machinery and equipment 27,474,099 27,312,627 Furniture and fixtures 904,256 902,633 Construction in progress 254,471 225,759 Total property and equipment, at cost 40,027,245 39,834,237 Less accumulated amortization and depreciation (30,017,022 ) (28,629,598 ) Property and equipment, net $ 10,010,223 $ 11,204,639

Note 5 - Intangible Assets

Note 5 - Intangible Assets	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	( 5 Intangible Assets Aggregate amortization expense for amortizing intangible assets was $38,598, $34,768 and $25,704 for the years ended October 31, 2019, 2018 2017, $40,000 five October 31, 2019 October 31, 2018

Note 6 - Product Warranties

Note 6 - Product Warranties	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	( 6 Product Warranties The Company generally warrants its products against certain manufacturing and other defects in material and workmanship. These product warranties are provided for specific periods of time and are applicable assuming the product has not October 31, 2019 2018, not October 31, 2019, 2018 2017 The following table summarizes the changes in the Company’s accrual for product warranties during the fiscal years ended October 31, 2019 2018: Years ended October 31, 2019 2018 Balance at beginning of year $ 180,000 $ 180,000 Liabilities accrued for warranties issued during the year 161,815 266,258 Warranty claims paid during the period (218,426 ) (219,190 ) Changes in liability for pre-existing warranties during the year (3,389 ) (47,068 ) Balance at end of year $ 120,000 $ 180,000

Note 7 - Long-term Debt and Not

Note 7 - Long-term Debt and Note Payable to Bank	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Long-term Debt [Text Block]	( 7 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 and related agreements (collectively, the “Revolver”). Both the Virginia Real Estate Loan and the North Carolina Real Estate Loan are with Pinnacle Bank (“Pinnacle”), have a fixed interest rate of 3.95% and are secured by a first first Long-term debt as of October 31, 2019 2018 October 31, 2019 2018 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 $ 4,580,173 $ 4,774,252 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 1,328,450 1,645,332 Total long-term debt 5,908,623 6,419,584 Less current installments 738,955 260,954 Long-term debt, excluding current installments $ 5,169,668 $ 6,158,630 On April 30, 2019, April 26, 2016 April 26, 2016. June 30, 2020. On September 11, 2019, April 26, 2016 April 26, 2016. November 29, 2019 $250,000; September 10, 2019. July 31, 2019. On January 22, 2020, April 26, 2016 April 26, 2016. April 15, 2020 January 22, 2020, ( October 31, 2019, ( October 31, 2019, March 31, 2020 May 1, 2020 June 30, 2020. All other terms and conditions of the Credit Agreement remain unaltered and in effect. The Revolver is secured by a perfected first not The terms of OCC’s credit facilities with Pinnacle require the Company to comply, on an annual basis, with specific financial covenants including a fixed charge coverage ratio. The Company is required to maintain a fixed charge coverage ratio of not 1.0. October 31, 2019, 1.0 not Additionally, the terms of OCC’s credit facilities with Pinnacle require the Company to comply, on a quarterly basis, with two July 31, 2019 October 31, 2019, not 1.0. June 30, 2020, $5.7 October 31, 2019. October 31, 2019, 1.0 not one October 31, 2019, $5.7 The Company is required to have a total liabilities to tangible net worth ratio of not 1.0, October 31, 2019, 1.0 As of October 31, 2019 October 31, 2018, The aggregate maturities of long-term debt for each of the five October 31, 2019 2020, 2021, 2022, 2023 2024.

Note 8 - Leases

Note 8 - Leases	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	( 8 Leases The Company has an operating lease agreement for approximately 34,000 square feet of office, manufacturing and warehouse space in Plano, Texas (near Dallas). The lease term runs through November 30, 2019. November 30, 2024. The Company entered into an operating lease agreement in April 2015 twelve April 30, 2016. four 4 one April 30, 2020. As of October 31, 2019, not one October 31, 2019, 2020, 2021, 2022, 2023, 2024, Total rent expense associated with the operating leases for the fiscal years ended October 31, 2019, 2018 2017

Note 9 - Employee Benefits

Note 9 - Employee Benefits	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	( 9 Employee Benefits Health Insurance Coverage The Company contracts for health insurance coverage for employees and their dependents through third October 31, 2019, 2018 2017, 401 The Company maintains a 401 October 31, 2019, 2018 2017, Stock Incentives for Key Employees and Non-Employee Directors Optical Cable Corporation uses stock incentives to increase the personal financial interest that key employees and non-employee Directors have in the future success of the Company, thereby aligning their interests with those of other shareholders and strengthening their desire to remain with the Company. In March 2017, 2017 “2017 2017 2017 2011 “2011 October 31, 2019, 2017 Share-based compensation expense for employees, a consultant and non-employee members of the Company’s Board of Directors recognized in the consolidated statements of operations for the years ended October 31, 2019, 2018 2017 The Company has granted, and anticipates granting, from time to time, restricted stock awards to employees, subject to approval by the Compensation Committee of the Board of Directors. The restricted stock awards granted under the 2017 2019. The Company recognizes expense each quarter on service-based shares of employees based on the actual number of shares vested during the quarter multiplied by the closing price of the Company’s shares of common stock on the date of grant. The Company recognizes expense each quarter on operational performance-based shares of employees using an estimate of the shares expected to vest multiplied by the closing price of the Company’s shares of common stock on the date of grant. A summary of the status of the Company’s nonvested shares granted to employees, a consultant and non-employee Directors under the 2017 October 31, 2019, October 31, 2019, Nonvested shares Shares Weighted- average grant date fair value Balance at October 31, 2018 1,027,702 $ 3.13 Granted 30,360 4.69 Vested (912,841 ) 3.18 Forfeited (4,745 ) 2.54 Balance at October 31, 2019 140,476 $ 3.04 As of October 31, 2019, During the fiscal year ended October 31, 2019, 2018 2017, 2017 2017 one October 31, 2019, 2018 2017,

Note 10 - Business and Credit C

Note 10 - Business and Credit Concentrations, Major Customers and Geographic Information	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	( 10 Business and Credit Concentrations, Major Customers and Geographic Information The Company provides credit, in the normal course of business, to various commercial enterprises, governmental entities and not October 31, 2019 2018 For the year ended October 31, 2019, No 10% October 31, 2019. October 31, 2019, No 5% For the year ended October 31, 2018, No 10% October 31, 2018. October 31, 2018, No 5% For the year ended October 31, 2017, No 10% October 31, 2017. October 31, 2017, No 5% For the years ended October 31, 2019, 2018 2017, The Company has a single reportable segment for purposes of segment reporting.

Note 11 - Revenue Recognition

Note 11 - Revenue Recognition	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 11 Revenue Recognition Effective November 1, 2018, 606, Revenue from Contracts with Customers 606” not November 1, 2018. November 1, 2018 606, not 606 not November 1, 2018. Under the new guidance, revenues consist of product sales that are recognized at a specific point in time under the core principle of recognizing revenue when control transfers to the customer. The Company considers customer purchase orders, governed by master sales agreements or the Company’s standard terms and conditions, to be the contract with the customer. For each contract, the promise to transfer the control of the products, each of which is individually distinct, is considered to be the identified performance obligation. The Company evaluates each customer’s credit risk when determining whether to accept a contract. In determining transaction prices, the Company evaluates whether fixed order prices are subject to adjustment to determine the net consideration to which the Company expects to be entitled. Contracts do not 30 90 not not not The Company recognizes revenue at the point in time when products are shipped or delivered from its manufacturing facility to its customer, in accordance with the agreed upon shipping terms. Since the Company typically invoices the customer at the same time that performance obligations are satisfied, no October 31, 2019 November 1, 2018. Sales to certain customers are made pursuant to agreements that provide price adjustments and limited return rights with respect to the Company’s products. The Company maintains a reserve for estimated future price adjustment claims, rebates and returns as a refund liability. The Company’s refund liability was $273,512 as of October 31, 2019 November 1, 2018. The Company offers standard product warranty coverage which provides assurance that its products will conform to contractually agreed-upon specifications for a limited period from the date of shipment. Separately-priced warranty coverage is not no The Company incurs sales commissions to acquire customer contracts that are directly attributable to the contracts. The commissions are expensed as selling expenses during the period that the related products are transferred to customers. Disaggregation of Revenue The following table presents net sales attributable to the United States and all other countries in total for the fiscal years ended October 31, 2019, 2018 2017: Years ended October 31, 2019 2018 2017 United States $ 58,207,966 $ 74,778,141 $ 51,558,474 Outside the United States 13,116,480 13,050,449 12,534,374 Total net sales $ 71,324,446 $ 87,828,590 $ 64,092,848 No 10% 2019, 2018 2017.

Note 12 - Income Taxes

Note 12 - Income Taxes	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 12 Income Taxes Income tax expense (benefit) for the years ended October 31, 2019, 2018 2017 Fiscal year ended October 31, 2019 Current Deferred Total U.S. Federal $ 726 $ (726 ) $ — State (5,805 ) — (5,805 ) Totals $ (5,079 ) $ (726 ) $ (5,805 ) Fiscal year ended October 31, 2018 Current Deferred Total U.S. Federal $ 14,163 $ (49,281 ) $ (35,118 ) State 18,467 — 18,467 Totals $ 32,630 $ (49,281 ) $ (16,651 ) Fiscal year ended October 31, 2017 Current Deferred Total U.S. Federal $ — $ — $ — State (5,438 ) — (5,438 ) Totals $ (5,438 ) $ — $ (5,438 ) Reported income tax expense for the years ended October 31, 2019, 2018 2017 2019, 2018 2017 Years ended October 31, 2019 2018 2017 “Expected” income taxes (benefit) $ (1,191,776 ) $ 243,772 $ (593,031 ) Increase (reduction) in income tax expense (benefit) resulting from: Remeasurement of deferred taxes related to the Tax Act — 1,272,517 — State income taxes, net of federal benefit (12,875 ) 2,641 (29,422 ) Meals and Entertainment 17,999 24,661 32,119 Provision to return reconciliation adjustment 6,400 (57,118 ) 18,064 Excess tax benefits related to share-based compensation (90,603 ) — — Non-deductible officers' compensation 31,456 — — Other differences, net 3,434 964 4,503 Change in valulation allowance 1,230,160 (1,504,088 ) 562,329 Reported income tax benefit $ (5,805 ) $ (16,651 ) $ (5,438 ) The Tax Cuts and Jobs Act (the “Tax Act”), enacted on December 22, 2017, 35% 21%. 21% January 1, 2018. 2018 November 1, 2017, 2018 23.17%. 2019, 21%. The Tax Act also repealed the corporate AMT for tax years beginning after December 31, 2017, December 31, 2017. 2019 2022. not October 31, 2019. The Company continues to assess the impacts of the Tax Act on future fiscal years as well as analyze applicable information and data, and interpret any additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others. The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and deferred tax liabilities as of October 31, 2019 2018 October 31, 2019 2018 Deferred tax assets: Accounts receivable, due to allowances for doubtful accounts and sales returns $ 54,370 $ 36,779 Inventories, due to allowance for damaged and slow-moving inventories and additional costs inventoried for tax purposes pursuant to the Tax Reform Act of 1986 769,871 780,446 Liabilities recorded for accrued expenses, deductible for tax purposes when paid 111,677 472,641 Share-based compensation expense 20,410 474,163 Net operating loss carryforwards 2,374,774 528,939 AMT credit carryforwards 50,007 49,281 Other 175,580 59,219 Total gross deferred tax assets 3,556,689 2,401,468 Valuation allowance (3,348,645 ) (2,118,487 ) Net deferred tax assets 208,044 282,981 Deferred tax liabilities: Plant and equipment, due to differences in depreciation and capital gain recognition (155,461 ) (231,672 ) Other receivables, due to accrual for financial reporting purposes (2,576 ) (2,028 ) Total gross deferred tax liabilities (158,037 ) (233,700 ) Net deferred tax asset $ 50,007 $ 49,281 As a result of the acquisition of AOS, the Company recorded certain deferred tax assets totaling $1,517,605 (after purchase accounting adjustments), related to gross net operating loss (“NOL”) carryforwards of $4,455,525, estimated to be available after considering Internal Revenue Code Section 382 October 31, 2019, may October 31, 2028. 2015 2019, not 2031. For the fiscal years ended October 31, 2019 2018, not” not 740, Income Taxes October 31, 2019 2018. The Company estimates a liability for uncertain tax positions taken or expected to be taken in a tax return. The liability for uncertain tax positions is included in other noncurrent liabilities on the accompanying consolidated balance sheets. A reconciliation of the unrecognized tax benefits for fiscal years 2019 2018 October 31, 2019 2018 Unrecognized tax benefits balance at beginning of year $ 60,147 $ 65,549 Gross decreases for tax positions of prior years (11,206 ) (7,708 ) Gross increases for current year tax positions — 2,306 Unrecognized tax benefits balance at end of year $ 48,941 $ 60,147 During fiscal year 2019, 2018, October 31, 2019 2018, October 31, 2019 2018, not 12 The Company files income tax returns in the U.S. federal jurisdiction and in various state jurisdictions. The statute of limitations remains open for U.S. and certain state income tax examinations for years ended October 31, 2016 October 31, 2018.

Note 13 - Fair Value Measuremen

Note 13 - Fair Value Measurements	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 13 Fair Value Measurements The carrying amounts reported in the consolidated balance sheets for cash, trade accounts receivable, income taxes refundable-current, other receivables, and accounts payable and accrued expenses, including accrued compensation and payroll taxes approximate fair value because of the short maturity of these instruments. The carrying values of the Company’s note payable to bank and long-term debt approximate fair value based on similar long-term debt issues available to the Company as of October 31, 2019 2018. The Company uses a fair value hierarchy that prioritizes the inputs for valuation methods used to measure fair value. The three ● Level 1 ● Level 2 1 ● Level 3 The Company utilizes the best available information in measuring fair value.

Note 14 - Net Income (Loss) Per

Note 14 - Net Income (Loss) Per Share	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	( 14 Net Income (Loss) Per Share The following is a reconciliation of the numerators and denominators of the net income (loss) per share computations for the periods presented: Years ended October 31, 2019 2018 2017 Net income (loss) (numerator) $ (5,669,321 ) $ 1,068,753 $ (1,738,771 ) Shares (denominator) 7,387,141 7,593,435 6,546,862 Basic and diluted net income (loss) per share $ (0.77 ) $ 0.14 $ (0.27 ) Nonvested shares which have been issued and are outstanding as of October 31, 2019 October 31, 2017 not October 31, 2019 October 31, 2017 (

Note 15 - Shareholders' Equity

Note 15 - Shareholders' Equity	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	( 15 Shareholders’ Equity Share Repurchases The Company, through plans approved by its Board of Directors and other programs, has repurchased and retired certain of its outstanding common stock. The following is a summary of the Company’s repurchase of shares and the costs associated with the repurchases, including brokerage and legal fees, for the periods presented. Fiscal years ended October 31, Shares repurchased Cost 2019 351 $ 1,573 2018 272 1,557 2017 5,701 18,122 After the Company’s purchase and retirement of the shares of its common stock as set forth in the table above, the Company had 7,458,981 shares of its common stock issued and outstanding at October 31, 2019. The Company has a plan (the “Repurchase Plan”), approved by its Board of Directors on July 14, 2015, no October 31, 2019, no may may not The Company has repurchased outstanding common stock outside of the Repurchase Plan through an odd lot repurchase offer. During fiscal year 2019, Stockholder Protection Rights Agreement On October 28, 2011, no November 2, 2011, Upon the occurrence of certain events, each Right will entitle its holder to purchase from the Company one one November 2, 2021, no The Company has reserved 100,000 shares of its authorized preferred stock for issuance upon exercise of the Rights.

Note 16 - Contingencies

Note 16 - Contingencies	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 16 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

Note 17 - New Accounting Standa

Note 17 - New Accounting Standards Not Yet Adopted	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	( 17 New Accounting Standards Not In February 2016, 2016 02, Leases 2017 13, 2018 10, 2018 11, 2018 20 2019 01 842” 842 842 842 December 15, 2018, one two not In June 2018, 2018 07, Compensation – Stock Compensation (Topic 718 2018 07” 2018 07 718 2018 07 718 not 1 2 Revenue from Contracts with Customers 606 2018 07 December 15, 2018, 2018 07 not In June 2018, 2018 08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made 2018 08” 2018 08 not 2018 08 not 2018 08 December 15, 2018, 2018 08 not In July 2019, 2019 07, Codification Updates to SEC Sections - Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33 10532, 33 10231 33 10442, 2019 07” 2019 07 not 2019 07, There are no not

Note 18 - Quarterly Results of

Note 18 - Quarterly Results of Operations (Unaudited)	12 Months Ended
	Oct. 31, 2019
Notes to Financial Statements
Quarterly Financial Information [Text Block]	( 18 Quarterly Results of Operations (Unaudited) The following is a summary of the unaudited quarterly results of operations for the years ended October 31, 2019 2018: Quarter ended Fiscal year ended October 31, 2019 January 31 April 30 July 31 October 31 Net sales $ 16,750,668 $ 18,957,175 $ 17,367,068 $ 18,249,535 Gross profit 3,562,559 5,309,134 4,491,454 4,941,600 Selling, general & administrative expenses 6,773,645 5,776,814 5,418,438 5,465,463 Loss before income taxes (3,337,441 ) (612,185 ) (1,072,435 ) (653,065 ) Net loss (3,310,020 ) (617,425 ) (1,085,294 ) (656,582 ) Basic and diluted net loss per share $ (0.44 ) $ (0.08 ) $ (0.15 ) $ (0.09 ) Quarter ended Fiscal year ended October 31, 2018 January 31 April 30 July 31 October 31 Net sales $ 17,551,040 $ 26,887,689 $ 23,116,584 $ 20,273,277 Gross profit 5,228,820 8,956,275 7,026,542 6,661,563 Selling, general & administrative expenses 5,557,693 7,400,779 6,370,244 6,802,240 Income (loss) before income taxes (449,620 ) 1,406,570 455,813 (360,661 ) Net income (loss) (410,135 ) 1,390,865 438,353 (350,330 ) Basic and diluted net income (loss) per share $ (0.06 ) $ 0.18 $ 0.06 $ (0.05 )

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Oct. 31, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	(b) Principles of Consolidation The accompanying consolidated financial statements include the accounts of Optical Cable Corporation and its wholly owned and majority-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Cash and Cash Equivalents, Policy [Policy Text Block]	(c) Cash and Cash Equivalents All of the Company’s bank accounts are insured by the Federal Deposit Insurance Corporation (FDIC). As of October 31, 2019, October 31, 2018 not For purposes of the consolidated statements of cash flows, the Company considers all highly liquid debt instruments with original maturities of three October 31, 2019 2018,
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	(d) Trade Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are recorded at the invoiced amount and do not may no not
Inventory, Policy [Policy Text Block]	(e) Inventories Inventories are stated at the lower of cost and net realizable value. The determination of cost includes raw materials, direct labor and manufacturing overhead. The cost of optical fibers, included in raw materials, is determined using specific identification for optical fibers. The cost of other raw materials and production supplies is generally determined using the first first may 3.
Property, Plant and Equipment, Policy [Policy Text Block]	(f) Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are provided for using both straight-line and declining balance methods over the estimated useful lives of the assets. Estimated useful lives are thirty thirty-nine three fifteen 4.
Patents and Trademarks [Policy Text Block]	(g) Patents and Trademarks The Company records legal fees associated with patent and trademark applications as intangible assets. Such intangible assets are not not
Revenue [Policy Text Block]	(h) Revenue Recognition The Company recognizes revenue at the time product is transferred to the customer (including distributors) at an amount that reflects the consideration expected to be received in exchange for the product. Customers generally do not 11. The Company recognizes royalty income (if any), net of related expenses, on an accrual basis and estimates royalty income earned based on historical experience.
Shipping and Handling Costs [Policy Text Block]	(i) Shipping and Handling Costs Shipping and handling costs include the costs incurred to physically move finished goods from the Company’s warehouse to the customers’ designated location. All shipping and handling activities related to contracts with customers as a cost to fulfill its promise to transfer control of the related product are classified as sales revenue. Shipping and handling costs of approximately $2.1 million, $2.2 million and $1.9 million are included in selling, general and administrative expenses for the fiscal years ended October 31, 2019, 2018 2017,
Research and Development Expense, Policy [Policy Text Block]	(j) Research and Development Research and development costs are expensed as incurred. Research and development costs totaled approximately $1.2 million for the fiscal year ended October 31, 2019 October 31, 2018 2017
Advertising Cost [Policy Text Block]	(k) Advertising Advertising costs are expensed as incurred. Advertising costs totaled approximately $196,000, $250,000 and $313,000 for the fiscal years ended October 31, 2019, 2018 2017,
Income Tax, Policy [Policy Text Block]	(l) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss, capital loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not 50% 12.
Long-Lived and Intangible Assets [Policy Text Block]	(m) Long-Lived Assets Long-lived assets, such as property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not no
Share-based Payment Arrangement [Policy Text Block]	(n) Stock Incentive Plans and Other Share-Based Compensation The Company recognizes the cost of employee services received in exchange for awards of equity instruments based upon the grant-date fair value of those awards. Also see note 9.
Earnings Per Share, Policy [Policy Text Block]	(o) Net Income (Loss) Per Share Basic net income (loss) per share excludes dilution and is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding for the period. In the case of basic net income per share, the calculation includes common shares outstanding issued as share-based compensation and still subject to vesting requirements. In the case of basic net loss per share, the calculation excludes common shares outstanding issued as share-based compensation and still subject to vesting requirements, as these shares are considered dilutive. Diluted net income (loss) per share also is calculated by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding for the period, and 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 income (loss) of the Company. The diluted net income (loss) per share calculation includes all common shares outstanding issued as share-based compensation and still subject to vesting requirements in the calculation of diluted net income, but not 14.
Commitments and Contingencies, Policy [Policy Text Block]	(p) Commitments and Contingencies Liabilities for loss contingencies arising from product warranties and defects, claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.
Use of Estimates, Policy [Policy Text Block]	(q) Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 2 - Allowance for Doubtf_2

Note 2 - Allowance for Doubtful Accounts for Trade Accounts Receivable (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Summary of Changes in the Allowance for Doubtful Accounts for Trade Accounts Receivable [Table Text Block]	Years ended October 31, 2019 2018 2017 Balance at beginning of year $ 64,242 $ 87,446 $ 74,266 Bad debt expense (recovery) 60,381 (18,455 ) 21,569 Losses charged to allowance (25,061 ) (4,749 ) (8,389 ) Balance at end of year $ 99,562 $ 64,242 $ 87,446

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	October 31, 2019 2018 Finished goods $ 5,845,973 $ 5,454,629 Work in process 3,321,216 3,877,670 Raw materials 8,632,230 7,871,145 Production supplies 296,208 271,311 Total $ 18,095,627 $ 17,474,755

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment, Net (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	October 31, 2019 2018 Land and land improvements $ 3,148,834 $ 3,148,834 Building and improvements 8,245,585 8,244,384 Machinery and equipment 27,474,099 27,312,627 Furniture and fixtures 904,256 902,633 Construction in progress 254,471 225,759 Total property and equipment, at cost 40,027,245 39,834,237 Less accumulated amortization and depreciation (30,017,022 ) (28,629,598 ) Property and equipment, net $ 10,010,223 $ 11,204,639

Note 6 - Product Warranties (Ta

Note 6 - Product Warranties (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Years ended October 31, 2019 2018 Balance at beginning of year $ 180,000 $ 180,000 Liabilities accrued for warranties issued during the year 161,815 266,258 Warranty claims paid during the period (218,426 ) (219,190 ) Changes in liability for pre-existing warranties during the year (3,389 ) (47,068 ) Balance at end of year $ 120,000 $ 180,000

Note 7 - Long-term Debt and N_2

Note 7 - Long-term Debt and Note Payable to Bank (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Schedule of Debt [Table Text Block]	October 31, 2019 2018 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 $ 4,580,173 $ 4,774,252 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 1,328,450 1,645,332 Total long-term debt 5,908,623 6,419,584 Less current installments 738,955 260,954 Long-term debt, excluding current installments $ 5,169,668 $ 6,158,630

Note 9 - Employee Benefits (Tab

Note 9 - Employee Benefits (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Nonvested shares Shares Weighted- average grant date fair value Balance at October 31, 2018 1,027,702 $ 3.13 Granted 30,360 4.69 Vested (912,841 ) 3.18 Forfeited (4,745 ) 2.54 Balance at October 31, 2019 140,476 $ 3.04

Note 11 - Revenue Recognition (

Note 11 - Revenue Recognition (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Revenue from External Customers by Geographic Areas [Table Text Block]	Years ended October 31, 2019 2018 2017 United States $ 58,207,966 $ 74,778,141 $ 51,558,474 Outside the United States 13,116,480 13,050,449 12,534,374 Total net sales $ 71,324,446 $ 87,828,590 $ 64,092,848

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Fiscal year ended October 31, 2019 Current Deferred Total U.S. Federal $ 726 $ (726 ) $ — State (5,805 ) — (5,805 ) Totals $ (5,079 ) $ (726 ) $ (5,805 ) Fiscal year ended October 31, 2018 Current Deferred Total U.S. Federal $ 14,163 $ (49,281 ) $ (35,118 ) State 18,467 — 18,467 Totals $ 32,630 $ (49,281 ) $ (16,651 ) Fiscal year ended October 31, 2017 Current Deferred Total U.S. Federal $ — $ — $ — State (5,438 ) — (5,438 ) Totals $ (5,438 ) $ — $ (5,438 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years ended October 31, 2019 2018 2017 “Expected” income taxes (benefit) $ (1,191,776 ) $ 243,772 $ (593,031 ) Increase (reduction) in income tax expense (benefit) resulting from: Remeasurement of deferred taxes related to the Tax Act — 1,272,517 — State income taxes, net of federal benefit (12,875 ) 2,641 (29,422 ) Meals and Entertainment 17,999 24,661 32,119 Provision to return reconciliation adjustment 6,400 (57,118 ) 18,064 Excess tax benefits related to share-based compensation (90,603 ) — — Non-deductible officers' compensation 31,456 — — Other differences, net 3,434 964 4,503 Change in valulation allowance 1,230,160 (1,504,088 ) 562,329 Reported income tax benefit $ (5,805 ) $ (16,651 ) $ (5,438 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	October 31, 2019 2018 Deferred tax assets: Accounts receivable, due to allowances for doubtful accounts and sales returns $ 54,370 $ 36,779 Inventories, due to allowance for damaged and slow-moving inventories and additional costs inventoried for tax purposes pursuant to the Tax Reform Act of 1986 769,871 780,446 Liabilities recorded for accrued expenses, deductible for tax purposes when paid 111,677 472,641 Share-based compensation expense 20,410 474,163 Net operating loss carryforwards 2,374,774 528,939 AMT credit carryforwards 50,007 49,281 Other 175,580 59,219 Total gross deferred tax assets 3,556,689 2,401,468 Valuation allowance (3,348,645 ) (2,118,487 ) Net deferred tax assets 208,044 282,981 Deferred tax liabilities: Plant and equipment, due to differences in depreciation and capital gain recognition (155,461 ) (231,672 ) Other receivables, due to accrual for financial reporting purposes (2,576 ) (2,028 ) Total gross deferred tax liabilities (158,037 ) (233,700 ) Net deferred tax asset $ 50,007 $ 49,281
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	October 31, 2019 2018 Unrecognized tax benefits balance at beginning of year $ 60,147 $ 65,549 Gross decreases for tax positions of prior years (11,206 ) (7,708 ) Gross increases for current year tax positions — 2,306 Unrecognized tax benefits balance at end of year $ 48,941 $ 60,147

Note 14 - Net Income (Loss) P_2

Note 14 - Net Income (Loss) Per Share (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years ended October 31, 2019 2018 2017 Net income (loss) (numerator) $ (5,669,321 ) $ 1,068,753 $ (1,738,771 ) Shares (denominator) 7,387,141 7,593,435 6,546,862 Basic and diluted net income (loss) per share $ (0.77 ) $ 0.14 $ (0.27 )

Note 15 - Shareholders' Equity

Note 15 - Shareholders' Equity (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Schedule of Share Repurchases [Table Text Block]	<tbody> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 62%; border-bottom: thin solid rgb(0, 0, 0);"> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Fiscal years ended</b></p> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>October 31,</b></p> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Shares</b></b></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>repurchased</b></b></p> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Cost</b></b></p> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">2019</p> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">351</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">1,573</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">2018</p> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">272</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">1,557</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">2017</p> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">5,701</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">18,122</td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> </tbody> </table> " id="sjs-B4" xml:space="preserve"> &lt;table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 10%; margin-left: 10%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;"> &lt;tbody> &lt;tr style="vertical-align: bottom;"> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 62%; border-bottom: thin solid rgb(0, 0, 0);"> &lt;p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center;">&lt;b>Fiscal years ended&lt;/b>&lt;/p> &lt;p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center;">&lt;b>October 31,&lt;/b>&lt;/p> &lt;/td> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> &lt;p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&lt;b>&lt;b>Shares&lt;/b>&lt;/b>&lt;/p> &lt;p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&lt;b>&lt;b>repurchased&lt;/b>&lt;/b>&lt;/p> &lt;/td> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"> &lt;/td> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> &lt;p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&lt;b>&lt;b>Cost&lt;/b>&lt;/b>&lt;/p> &lt;/td> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"> &lt;/td> &lt;/tr> &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">2019&lt;/p> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">351&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$&lt;/td> &lt;td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,573&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> &lt;/td> &lt;/tr> &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">2018&lt;/p> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">272&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,557&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> &lt;/td> &lt;/tr> &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> &lt;td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">2017&lt;/p> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">5,701&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> &lt;/td> &lt;td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">18,122&lt;/td> &lt;td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> &lt;/td> &lt;/tr> &lt;/tbody> &lt;/table>

Note 18 - Quarterly Results o_2

Note 18 - Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Oct. 31, 2019
Notes Tables
Quarterly Financial Information [Table Text Block]	Quarter ended Fiscal year ended October 31, 2019 January 31 April 30 July 31 October 31 Net sales $ 16,750,668 $ 18,957,175 $ 17,367,068 $ 18,249,535 Gross profit 3,562,559 5,309,134 4,491,454 4,941,600 Selling, general & administrative expenses 6,773,645 5,776,814 5,418,438 5,465,463 Loss before income taxes (3,337,441 ) (612,185 ) (1,072,435 ) (653,065 ) Net loss (3,310,020 ) (617,425 ) (1,085,294 ) (656,582 ) Basic and diluted net loss per share $ (0.44 ) $ (0.08 ) $ (0.15 ) $ (0.09 ) Quarter ended Fiscal year ended October 31, 2018 January 31 April 30 July 31 October 31 Net sales $ 17,551,040 $ 26,887,689 $ 23,116,584 $ 20,273,277 Gross profit 5,228,820 8,956,275 7,026,542 6,661,563 Selling, general & administrative expenses 5,557,693 7,400,779 6,370,244 6,802,240 Income (loss) before income taxes (449,620 ) 1,406,570 455,813 (360,661 ) Net income (loss) (410,135 ) 1,390,865 438,353 (350,330 ) Basic and diluted net income (loss) per share $ (0.06 ) $ 0.18 $ 0.06 $ (0.05 )

Note 1 - Description of Busin_2

Note 1 - Description of Business and Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Cash, Uninsured Amount	$ 127,000	$ 0
Cash Equivalents, at Carrying Value, Total	0	0
Selling, General and Administrative Expenses [Member]
Shipping and Handling Costs	2,100,000	2,200,000	$ 1,900,000
Research and Development Expense, Total	1,200,000	1,300,000	1,300,000
Advertising Expense	$ 196,000	$ 250,000	$ 313,000
Building [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	30 years
Building [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	39 years
Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	15 years

Note 2 - Allowance for Doubtf_3

Note 2 - Allowance for Doubtful Accounts for Trade Accounts Receivable - Summary of Changes in the Allowance for Doubtful Accounts for Trade Accounts Receivable (Details) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Balance	$ 64,242	$ 87,446	$ 74,266
Bad debt expense (recovery)	60,381	(18,455)	21,569
Losses charged to allowance	(25,061)	(4,749)	(8,389)
Balance	$ 99,562	$ 64,242	$ 87,446

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventories (Details) - USD ($)	Oct. 31, 2019	Oct. 31, 2018
Finished goods	$ 5,845,973	$ 5,454,629
Work in process	3,321,216	3,877,670
Raw materials	8,632,230	7,871,145
Production supplies	296,208	271,311
Total	$ 18,095,627	$ 17,474,755

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($)	Oct. 31, 2019	Oct. 31, 2018
Property and equipment, gross	$ 40,027,245	$ 39,834,237
Less accumulated amortization and depreciation	(30,017,022)	(28,629,598)
Property and equipment, net	10,010,223	11,204,639
Land [Member]
Property and equipment, gross	3,148,834	3,148,834
Building and Building Improvements [Member]
Property and equipment, gross	8,245,585	8,244,384
Machinery and Equipment [Member]
Property and equipment, gross	27,474,099	27,312,627
Furniture and Fixtures [Member]
Property and equipment, gross	904,256	902,633
Construction in Progress [Member]
Property and equipment, gross	$ 254,471	$ 225,759

Note 5 - Intangible Assets (Det

Note 5 - Intangible Assets (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Amortization of Intangible Assets, Total	$ 38,598	$ 34,768	$ 25,704
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	40,000
Finite-Lived Intangible Assets, Gross, Total	645,701	596,457
Finite-Lived Intangible Assets, Accumulated Amortization	135,393	$ 96,795
Finite-Lived Intangible Assets, Amortization Expense, Year Two	40,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	40,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	40,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 40,000

Note 6 - Product Warranties (De

Note 6 - Product Warranties (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Standard and Extended Product Warranty Accrual, Ending Balance	$ 120,000	$ 180,000	$ 180,000
Product Warranty Expense	158,426	219,190	$ 281,523
Accounts Payable and Accrued Liabilities [Member]
Standard and Extended Product Warranty Accrual, Ending Balance	$ 120,000	$ 180,000

Note 6 - Product Warranties - C

Note 6 - Product Warranties - Changes in Accrual for Product Warranties (Details) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Balance	$ 180,000	$ 180,000
Liabilities accrued for warranties issued during the year	161,815	266,258
Warranty claims paid during the period	(218,426)	(219,190)
Changes in liability for pre-existing warranties during the year	(3,389)	(47,068)
Balance	$ 120,000	$ 180,000

Note 7 - Long-term Debt and N_3

Note 7 - Long-term Debt and Note Payable to Bank (Details Textual)	Jan. 22, 2020USD ($)	Sep. 11, 2019USD ($)	Jan. 30, 2020	Oct. 31, 2019USD ($)	Oct. 31, 2018USD ($)	Apr. 26, 2016USD ($)
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months				$ 6,388,954
Long-term Debt, Maturities, Repayments of Principal in Year Two				303,783
Long-term Debt, Maturities, Repayments of Principal in Year Three				316,175
Long-term Debt, Maturities, Repayments of Principal in Year Four				329,072
Long-term Debt, Maturities, Repayments of Principal in Year Five				$ 4,220,639
Pinnacle Financial Partners [Member] | Real Estate Term Loans [Member] | Subsequent Event [Member]
Debt Instrument, Increase (Decrease), Net, Total	$ (200,000)
Pinnacle Financial Partners [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 6,500,000				$ 7,000,000
Line of Credit Facility, Increase (Decrease), Net, Total		$ (500,000)
Debt Instrument, Covenant, Fixed Charge Coverage Ratio		1.25
Debt Instrument, Fixed Charge Coverage Ratio				(3)
Debt Instrument, Covenant, Current Ratio		3
Debt Instrument, Current Ratio				2.2
Debt Instrument, Covenant, Total Liabilities To Tangible Net Worth Ratio		0.95
Debt Instrument, Total Liabilities To Tangible Net Worth Ratio				0.92
Long-term Line of Credit, Total				$ 5,700,000	$ 3,000,000
Line of Credit Facility, Remaining Borrowing Capacity				$ 850,000	$ 4,000,000
Pinnacle Financial Partners [Member] | Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		0.25%
Pinnacle Financial Partners [Member] | Revolving Credit Facility [Member] | Prime Rate [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate			0.50%
Virginia Real Estate Loan and North Carolina Real Estate Loan [Member] | Pinnacle Financial Partners [Member]
Debt Instrument, Interest Rate, Stated Percentage				3.95%

Note 7 - Long-term Debt and N_4

Note 7 - Long-term Debt and Note Payable to Bank - Long-term Debt (Details) - USD ($)	Oct. 31, 2019	Oct. 31, 2018
Long-term Loan	$ 5,908,623	$ 6,419,584
Less current installments	738,955	260,954
Long-term debt, excluding current installments	5,169,668	6,158,630
Virginia Real Estate Loan [Member]
Long-term Loan	4,580,173	4,774,252
North Carolina Real Estate Loan [Member]
Long-term Loan	$ 1,328,450	$ 1,645,332

Note 7 - Long-term Debt and N_5

Note 7 - Long-term Debt and Note Payable to Bank - Long-term Debt (Details) (Parentheticals) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
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 - Leases (Details Textua

Note 8 - Leases (Details Textual)	12 Months Ended
	Oct. 31, 2019USD ($)ft²	Oct. 31, 2018USD ($)	Oct. 31, 2017USD ($)	Jan. 24, 2020USD ($)	Apr. 30, 2015ft²
Operating Leases, Rent Expense, Net, Total	$ 403,097	$ 422,102	$ 403,178
Subsequent Event [Member]
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months				$ 214,487
Lessee, Operating Lease, Liability, Payments, Due Year Two				239,884
Lessee, Operating Lease, Liability, Payments, Due Year Three				246,481
Lessee, Operating Lease, Liability, Payments, Due Year Four				253,259
Lessee, Operating Lease, Liability, Payments, Due Year Five				260,224
Lessee, Operating Lease, Liability, Payments, Due after Year Five				$ 21,734
Operating Lease for Office, Manufacturing and Warehouse Space in Plano, Texas [Member]
Area of Real Estate Property | ft²	34,000
Operating Lease for Warehouse Space in Roanoke, Virginia [Member]
Area of Real Estate Property | ft²					36,000
Lessee, Operating Lease, Term of Contract					12 months
Lease Term, Extension, Term	1 year
Lease Term, Extension, Remaining Number	1

Note 9 - Employee Benefits (Det

Note 9 - Employee Benefits (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2017	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Health Insurance Coverage Expense		$ 3,549,189	$ 3,479,447	$ 3,360,633
Defined Contribution Plan, Employer Discretionary Contribution Amount		68,467	68,502	52,524
Share-based Payment Arrangement, Expense		$ 980,549	$ 2,224,620	787,100
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		0
Services and Performance Based Shares [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		1 year 2 months 12 days
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 340,000
The 2017 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		441,000
The 2017 Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		30,360
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			1 year
Deferred Compensation Arrangement with Individual, Allocated Share-based Compensation Expense		$ 124,838	$ 96,407	$ 53,084
The 2017 Stock Incentive Plan [Member] | Restricted Stock [Member] | Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		30,360	35,810	31,380

Note 9 - Employee Benefits - Re

Note 9 - Employee Benefits - Restricted Stock Activity (Details) - Restricted Stock [Member]	12 Months Ended
	Oct. 31, 2019$ / sharesshares
Granted (in shares)	0
The 2017 Stock Incentive Plan [Member]
Balance (in shares)	1,027,702
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 3.13
Granted (in shares)	30,360
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 4.69
Vested (in shares)	(912,841)
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 3.18
Forfeited (in shares)	(4,745)
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 2.54
Balance (in shares)	140,476
Balance, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 3.04

Note 10 - Business and Credit_2

Note 10 - Business and Credit Concentrations, Major Customers and Geographic Information (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Customer One [Member]
Revenues, Total	$ 10.6	$ 28.6	$ 10.5
Customer Two [Member]
Revenues, Total	$ 8.7	$ 10.1
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Number of Customers	2	2	1
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer One [Member]
Concentration Risk, Percentage	14.90%	32.50%	16.40%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Two [Member]
Concentration Risk, Percentage	12.20%	11.50%
Customer Concentration Risk [Member] | Stockholders' Equity, Total [Member]
Concentration Risk, Number of Customers	2	2
Customer Concentration Risk [Member] | Stockholders' Equity, Total [Member] | Customer One [Member]
Concentration Risk, Percentage	9.60%	14.50%	8.90%
Customer Concentration Risk [Member] | Stockholders' Equity, Total [Member] | Customer Two [Member]
Concentration Risk, Percentage	5.70%	11.70%
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES
Concentration Risk, Percentage	82.00%	85.00%	80.00%
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | Non-US [Member]
Concentration Risk, Percentage	18.00%	15.00%	20.00%

Note 11 - Revenue Recognition_2

Note 11 - Revenue Recognition (Details Textual) - USD ($)	Nov. 01, 2018	Oct. 31, 2019
Contract with Customer, Liability, Total	$ 123,979	$ 19,850
Contract with Customer, Refund Liability, Total	298,577	$ 273,512
Accounting Standards Update 2014-09 [Member]
Cumulative Effect on Retained Earnings, Net of Tax, Total	$ 61,763

Note 11 - Revenue Recognition -

Note 11 - Revenue Recognition - Revenue Attributed to United States and All Other Countries (Details) - USD ($)	3 Months Ended								12 Months Ended
	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Net sales	$ 18,249,535	$ 17,367,068	$ 18,957,175	$ 16,750,668	$ 20,273,277	$ 23,116,584	$ 26,887,689	$ 17,551,040	$ 71,324,446	$ 87,828,590	$ 64,092,848
UNITED STATES
Net sales									58,207,966	74,778,141	51,558,474
Non-US [Member]
Net sales									$ 13,116,480	$ 13,050,449	$ 12,534,374

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2009
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	23.17%	34.00%
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax	$ 50,007	$ 49,281
Income Taxes Receivable, Current	25,004	0
Income Taxes Receivable, Noncurrent	25,003	49,281
Deferred Tax Assets, Gross, Total	3,556,689	2,401,468
Deferred Tax Assets, Operating Loss Carryforwards, Total	2,374,774	528,939
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	9,186,886
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	2,002,211
Deferred Tax Assets, Valuation Allowance, Total	3,348,645	2,118,487
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	15,847	5,635
Unrecognized Tax Benefits, Income Tax Penalties Accrued	2,225	1,927
Income Tax Examination, Penalties and Interest Accrued, Total	22,397	40,469
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	36,530	$ 41,520
AOS Acquisition [Member]
Deferred Tax Assets, Gross, Total				$ 1,517,605
Deferred Tax Assets, Operating Loss Carryforwards, Total	$ 1,232,000			$ 4,455,525

Note 12 - Income Taxes - Income

Note 12 - Income Taxes - Income Tax Expense (Details) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
U.S. Federal, Current Income Tax Expense (Benefit)	$ 726	$ 14,163	$ 0
U.S. Federal, Deferred Income Tax Expense (Benefit)	(726)	(49,281)	0
U.S. Federal, Net Income Tax Expense (Benefit)	0	(35,118)	0
State, Current Income Tax Expense (Benefit)	(5,805)	18,467	(5,438)
State, Deferred Income Tax Expense (Benefit)	0	0	0
State, Income Tax Expense (Benefit)	(5,805)	18,467	(5,438)
Total Current Income Tax Expense (Benefit)	(5,079)	32,630	(5,438)
Total Deferred Income Tax Expense (Benefit)	(726)	(49,281)	0
Total Net Income Tax Expense (Benefit)	$ (5,805)	$ (16,651)	$ (5,438)

Note 12 - Income Taxes - Effect

Note 12 - Income Taxes - Effective Income Tax (Details) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
“Expected” income taxes (benefit)	$ (1,191,776)	$ 243,772	$ (593,031)
Remeasurement of deferred taxes related to the Tax Act	0	1,272,517	0
State income taxes, net of federal benefit	(12,875)	2,641	(29,422)
Meals and Entertainment	17,999	24,661	32,119
Provision to return reconciliation adjustment	6,400	(57,118)	18,064
Excess tax benefits related to share-based compensation	(90,603)	0	0
Non-deductible officers' compensation	31,456	0	0
Other differences, net	3,434	964	4,503
Change in valulation allowance	1,230,160	(1,504,088)	562,329
Total Net Income Tax Expense (Benefit)	$ (5,805)	$ (16,651)	$ (5,438)

Note 12 - Income Taxes - Deferr

Note 12 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Oct. 31, 2019	Oct. 31, 2018
Accounts receivable, due to allowances for doubtful accounts and sales returns	$ 54,370	$ 36,779
Inventories, due to allowance for damaged and slow-moving inventories and additional costs inventoried for tax purposes pursuant to the Tax Reform Act of 1986	769,871	780,446
Liabilities recorded for accrued expenses, deductible for tax purposes when paid	111,677	472,641
Share-based compensation expense	20,410	474,163
Net operating loss carryforwards	2,374,774	528,939
AMT credit carryforwards	50,007	49,281
Other	175,580	59,219
Total gross deferred tax assets	3,556,689	2,401,468
Valuation allowance	(3,348,645)	(2,118,487)
Net deferred tax assets	208,044	282,981
Plant and equipment, due to differences in depreciation and capital gain recognition	(155,461)	(231,672)
Other receivables, due to accrual for financial reporting purposes	(2,576)	(2,028)
Total gross deferred tax liabilities	(158,037)	(233,700)
Net deferred tax asset	$ 50,007	$ 49,281

Note 12 - Income Taxes - Unreco

Note 12 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Unrecognized tax benefits balance at beginning of year	$ 60,147	$ 65,549
Gross decreases for tax positions of prior years	(11,206)	(7,708)
Gross increases for current year tax positions	0	2,306
Unrecognized tax benefits balance at end of year	$ 48,941	$ 60,147

Note 14 - Net Income (Loss) P_3

Note 14 - Net Income (Loss) Per Share (Details Textual) - shares	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	127,750	743,865

Note14 - Net Income (Loss) Per

Note14 - Net Income (Loss) Per Share - Components of Reconciliation of Numerators and Denominators Net Loss Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Net income (loss) (numerator)									$ (5,669,321)	$ 1,068,753	$ (1,738,771)
Shares (denominator) (in shares)									7,387,141	7,593,435	6,546,862
Basic and diluted net income (loss) per share (in dollars per share)	$ (0.09)	$ (0.15)	$ (0.08)	$ (0.44)	$ (0.05)	$ 0.06	$ 0.18	$ (0.06)	$ (0.77)	$ 0.14	$ (0.27)

Note 15 - Shareholders' Equit_2

Note 15 - Shareholders' Equity (Details Textual)	Oct. 28, 2011$ / sharesshares	Oct. 31, 2019USD ($)shares	Oct. 31, 2018USD ($)shares	Oct. 31, 2017USD ($)	Jul. 14, 2015shares
Common Stock, Shares, Outstanding, Ending Balance		7,458,981	7,694,387
Stock Repurchase Program, Number of Shares Authorized to be Repurchased					400,000
Purchase And Retire Percentage Of Shares In Common Stock Outstanding					6.00%
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased		398,400
Stock Repurchased and Retired During Period, Shares		351
Stock Repurchased and Retired During Period, Value | $		$ 1,573	$ 1,557	$ 18,122
Common Stock Dividends, Rights Per Share	1
Minimum Percentage of Stock Owner in Stockholder Protection Rights Agreement	15.00%
Preferred Stock Dividends, Rights Per Share, No Par Value | $ / shares	$ 0
Preferred Stock, Exercise Price | $ / shares	$ 25
Preferred Stock, Number of Votes	1,000
Preferred Stock, Dividend Rate, Common Stock Dividend Amount Multiplier	1,000
Preferred Stock, Redemption Price Per Share | $ / shares	$ 0.0001
Preferred Stock, Capital Shares Reserved for Future Issuance		100,000
Minimum [Member]
Stock Repurchase Program, Period in Force		24 months
Maximum [Member]
Stock Repurchase Program, Period in Force		36 months

Note 15 - Shareholders' Equit_3

Note 15 - Shareholders' Equity - Share Repurchases (Details) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Shares repurchased (in shares)	351	272	5,701
Cost	$ 1,573	$ 1,557	$ 18,122

Note 17 - New Accounting Stan_2

Note 17 - New Accounting Standards Not Yet Adopted (Details Textual) - Accounting Standards Update 2016-02 [Member] - Subsequent Event [Member]	Nov. 01, 2019USD ($)
Assets, Noncurrent, Total	$ 1,088,719
Liabilities, Noncurrent, Total	$ 1,088,719

Note 18 - Quarterly Results o_3

Note 18 - Quarterly Results of Operations (Unaudited) - Schedule of Quarterly Financial Information (Details) - USD ($)	3 Months Ended								12 Months Ended
	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Net sales	$ 18,249,535	$ 17,367,068	$ 18,957,175	$ 16,750,668	$ 20,273,277	$ 23,116,584	$ 26,887,689	$ 17,551,040	$ 71,324,446	$ 87,828,590	$ 64,092,848
Gross profit	4,941,600	4,491,454	5,309,134	3,562,559	6,661,563	7,026,542	8,956,275	5,228,820	18,304,747	27,873,200	20,797,927
Selling, general and administrative expenses	5,465,463	5,418,438	5,776,814	6,773,645	6,802,240	6,370,244	7,400,779	5,557,693	23,434,360	26,130,956	21,968,757
Loss before income taxes	(653,065)	(1,072,435)	(612,185)	(3,337,441)	(360,661)	455,813	1,406,570	(449,620)	$ (5,675,126)	$ 1,052,102	$ (1,744,209)
Net loss	$ (656,582)	$ (1,085,294)	$ (617,425)	$ (3,310,020)	$ (350,330)	$ 438,353	$ 1,390,865	$ (410,135)
Basic and diluted net loss per share (in dollars per share)	$ (0.09)	$ (0.15)	$ (0.08)	$ (0.44)	$ (0.05)	$ 0.06	$ 0.18	$ (0.06)	$ (0.77)	$ 0.14	$ (0.27)