Optical Cable (OCC) 10-K 23 Dec 24 2024 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Oct. 31, 2024	Dec. 12, 2024	Apr. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Oct. 31, 2024
Entity File Number	0-27022
Entity Registrant Name	OPTICAL CABLE CORPORATION
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, no par value
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 16,927,599
Entity Common Stock, Shares Outstanding (in shares)		8,220,344
Entity Central Index Key	0001000230
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Crowe LLP
Auditor Firm ID	173
Auditor Location	Oak Brook, Illinois

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Oct. 31, 2024	Oct. 31, 2023
Current assets:
Cash	$ 244,247	$ 1,468,709
Trade accounts receivable, net of allowance for credit losses of $92,125 in 2024 and $71,189 in 2023	10,946,215	8,727,810
Income taxes refundable - current	5,000	81,844
Other receivables	60,521	397,758
Inventories	18,725,317	23,766,326
Prepaid expenses and other assets	618,940	595,469
Total current assets	30,600,240	35,037,916
Property and equipment, net	6,881,357	7,139,616
Intangible assets, net	513,956	566,197
Other assets, net	2,362,458	1,135,172
Total assets	40,358,011	43,878,901
Current liabilities:
Current installments of long-term debt	57,184	52,624
Note payable, revolver - current	8,321,782	8,324,397
Accounts payable and accrued expenses	5,178,792	5,843,044
Accrued compensation and payroll taxes	1,567,232	1,849,780
Income taxes payable	18,522	22,754
Total current liabilities	15,143,512	16,092,599
Long-term debt, excluding current installments	2,570,791	2,622,620
Other noncurrent liabilities	1,801,792	441,838
Total liabilities	19,516,095	19,157,057
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 8,220,344 shares in 2024 and 7,893,681 shares in 2023	15,464,416	15,134,133
Retained earnings	5,377,500	9,587,711
Total shareholders’ equity	20,841,916	24,721,844
Total liabilities and shareholders’ equity	$ 40,358,011	$ 43,878,901

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands	Oct. 31, 2024	Oct. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 92,125	$ 71,189
Preferred Stock, No Par Value (in dollars per share)	$ 0	$ 0
Preferred Stock, Shares Authorized (in shares)	1,000,000	1,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	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)	8,220,344	7,893,681
Common Stock, Shares, Outstanding, Ending Balance (in shares)	8,220,344	7,893,681

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Net sales	$ 66,674,099	$ 72,173,752
Cost of goods sold	48,469,327	49,879,676
Gross profit	18,204,772	22,294,076
Selling, general and administrative expenses	21,500,547	21,220,741
Royalty expense, net	26,450	26,315
Amortization of intangible assets	54,062	53,941
Income (loss) from operations	(3,376,287)	993,079
Other income (expense), net
Interest expense	(1,166,630)	(1,152,554)
Gain on insurance proceeds, net	304,307	2,199,463
Other, net	49,101	172,234
Other income (expense), net	(813,222)	1,219,143
Income (loss) before income taxes	(4,189,509)	2,212,222
Income tax expense	20,702	145,724
Net income (loss)	$ (4,210,211)	$ 2,066,498
Net income (loss) per share - basic and diluted (in dollars per share)	$ (0.54)	$ 0.26

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)	Common Stock [Member]	Retained Earnings [Member]	Total
Balances (in shares) at Oct. 31, 2022	7,893,194
Balances at Oct. 31, 2022	$ 14,638,505	$ 7,521,213	$ 22,159,718
Share-based compensation, net (in shares)	487
Share-based compensation, net	$ 495,628	0	495,628
Net income (loss)	$ 0	2,066,498	2,066,498
Balances (in shares) at Oct. 31, 2023	7,893,681
Balances at Oct. 31, 2023	$ 15,134,133	9,587,711	24,721,844
Share-based compensation, net (in shares)	326,663
Share-based compensation, net	$ 330,283	0	330,283
Net income (loss)	$ 0	(4,210,211)	(4,210,211)
Balances (in shares) at Oct. 31, 2024	8,220,344
Balances at Oct. 31, 2024	$ 15,464,416	$ 5,377,500	$ 20,841,916

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ (4,210,211)	$ 2,066,498
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	865,851	946,457
Bad debt expense	20,936	1,546
Share-based compensation expense	443,234	611,480
Gain on insurance proceeds, net	(304,307)	(2,199,463)
Loss on disposal of property and equipment	3,444	8,335
(Increase) decrease in:
Trade accounts receivable	(2,239,341)	2,234,397
Other receivables	337,237	(107,845)
Income taxes refundable	76,844	(81,844)
Inventories	5,041,009	(4,327,560)
Prepaid expenses and other assets	(23,471)	(55,244)
Other assets	411,807	92,036
Increase (decrease) in:
Accounts payable and accrued expenses	(829,091)	479,372
Accrued compensation and payroll taxes	(282,548)	77,229
Income taxes payable	(4,232)	4,656
Other noncurrent liabilities	(164,185)	(145,726)
Net cash used in operating activities	(857,024)	(395,676)
Cash flows from investing activities:
Purchase of and deposits for the purchase of property and equipment	(369,630)	(520,847)
Insurance proceeds received	304,307	1,946,992
Investment in intangible assets	(1,821)	(1,996)
Proceeds from sale of property and equipment	0	4,500
Net cash provided by (used in) investing activities	(67,144)	1,428,649
Cash flows from financing activities:
Payroll taxes withheld and remitted on share-based payments	(112,951)	(115,852)
Principal payments on long-term debt	(47,270)	(1,853,358)
Payments for financing costs	(100,000)	(100,000)
Principal payments on financing lease	(37,459)	(35,724)
Net cash provided by (used in) financing activities	(300,294)	219,800
Net increase (decrease) in cash	(1,224,462)	1,252,773
Cash at beginning of year	1,468,709	215,936
Cash at end of year	244,247	1,468,709
Supplemental disclosure of cash flow information:
Cash payments for interest	1,069,019	1,028,762
Income taxes paid, net of refunds	(53,426)	221,993
Noncash investing and financing activities:
Capital expenditures accrued in accounts payable at year end	14,982	22,081
North Mill Capital LLC [Member] | Revolving Credit Facility [Member]
Cash flows from financing activities:
Proceeds from note payable, revolver	65,369,765	79,258,692
Payments on note payable, revolver	$ (65,372,379)	$ (76,933,958)

Note 1 - Description of Busines

Note 1 - Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Oct. 31, 2024
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, OCC is headquartered in Roanoke, Virginia with offices, manufacturing and warehouse facilities located in Roanoke, Virginia; near Asheville, North Carolina; and near Dallas, Texas. 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 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, 2024, the Company did not For purposes of the consolidated statements of cash flows, the Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents. As of October 31, 2024 and 2023, the Company had no (d) Trade Accounts Receivable and Allowance for Credit Losses Trade accounts receivable are recorded at the invoiced amount and do not typically bear interest. The allowance for credit losses is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company reviews outstanding trade accounts receivable at the end of each quarter and records expected credit losses as deemed appropriate for (i) certain individual customers and (ii) for all other trade accounts receivable in total. In determining the amount of allowance for credit losses to be recorded for individual customers, the Company assesses the net amount expected to be collected from each customer. In addition, the Company establishes an allowance for all other receivables for which no specific allowances are deemed necessary. This portion of the allowance for credit losses is based on a percentage of total trade accounts receivable with different percentages used based on different age categories of receivables. The percentages used are based on the Company’s expectations of net amounts expected to be collected. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers. (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-in, first-out basis. The cost of work in process and finished goods inventories is determined either as average cost or standard cost, depending upon the product type. A standard cost system is used to estimate the actual costs of inventory for certain product types. Actual costs and production cost levels may vary from the standards established and such variances, if material, are charged to cost of goods sold or capitalized to inventory. Also see note 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 (g) Patents and Trademarks The Company records legal fees associated with patent and trademark applications as intangible assets. Such intangible assets are not amortized until such time that the patent and/or trademark is granted. The Company estimates the useful life of patents and trademarks based on the period over which the intangible asset is expected to contribute directly or indirectly to future cash flows. If patents and/or trademarks are not granted, the capitalized legal fees are expensed during the period in which such notification is received. If the Company decides to abandon a patent or trademark application, the capitalized legal fees are expensed during the period in which the Company’s decision is made. (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 have the right of return unless a product is defective or damaged and is within the parameters of the product warranty in effect for the sale. Also see note 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 $1.9 million and $2.1 million are included in selling, general and administrative expenses for the fiscal years ended October 31, 2024 and 2023, respectively. (j) Research and Development Research and development costs are expensed as incurred. Research and development costs totaled approximately $999,000 and $983,000 for the fiscal years ended October 31, 2024 and 2023, respectively, and are included in selling, general and administrative expenses in the consolidated statements of operations. (k) Advertising Advertising costs are expensed as incurred. Advertising costs totaled approximately $164,000 and $191,000 for the fiscal years ended October 31, 2024 and 2023, respectively, and are included in selling, general and administrative expenses in the consolidated statements of operations. (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 of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as a component of income tax expense. Also see note 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 be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. When applicable, assets to be disposed of are reported separately in the consolidated balance sheet at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. (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: (i) includes common shares outstanding issued as share-based compensation and still subject to vesting requirements in the calculation of diluted net income per share and (ii) excludes common shares outstanding issued as share-based compensation and still subject to vesting requirements in calculation of diluted net loss per share. Also see note 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 Credit L

Note 2 - Allowance for Credit Losses for Trade Accounts Receivable	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Allowance for Credit Losses [Text Block]	(2) Allowance for Credit Losses for Trade Accounts Receivable A summary of changes in the allowance for credit losses for trade accounts receivable for the years ended October 31, 2024 and 2023 follows: Years ended October 31, 2024 2023 Balance at beginning of year $ 71,189 $ 69,643 Bad debt expense 20,936 1,546 Balance at end of year $ 92,125 $ 71,189

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	(3) Inventories Inventories as of October 31, 2024 and 2023 consist of the following: October 31, 2024 2023 Finished goods $ 5,098,148 $ 5,937,682 Work in process 3,724,999 4,372,913 Raw materials 9,562,563 13,130,478 Production supplies 339,607 325,253 Total $ 18,725,317 $ 23,766,326

Note 4 - Property and Equipment

Note 4 - Property and Equipment, Net	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	(4) Property and Equipment, Net Property and equipment, net as of October 31, 2024 and 2023 consists of the following: October 31, 2024 2023 Land and land improvements $ 3,148,834 $ 3,148,834 Buildings and improvements 8,305,039 8,305,039 Machinery and equipment 26,032,752 26,185,346 Furniture and fixtures 902,012 902,012 Construction in progress 162,288 199,772 Total property and equipment, at cost 38,550,925 38,741,003 Less accumulated amortization and depreciation (31,669,568 ) (31,601,387 ) Property and equipment, net $ 6,881,357 $ 7,139,616

Note 5 - Intangible Assets

Note 5 - Intangible Assets	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	(5) Intangible Assets Aggregate amortization expense for amortizing intangible assets was $54,062 and $53,941 for the years ended October 31, 2024 and 2023, respectively. Amortization of intangible assets is calculated using a straight-line method over the estimated useful lives of the intangible assets. Amortization expense is estimated to be approximately $54,000 for each of the next five years. The gross carrying amounts and accumulated amortization of intangible assets subject to amortization as of October 31, 2024 was $879,963 and $367,989, respectively. The gross carrying amounts and accumulated amortization of intangible assets subject to amortization as of October 31, 2023 was $868,564 and $313,927, respectively.

Note 6 - Product Warranties

Note 6 - Product Warranties	12 Months Ended
	Oct. 31, 2024
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 been subjected to misuse, improper installation, negligent handling or shipping damage. As of October 31, 2024 and 2023, the Company’s accrual for estimated product warranty claims totaled $65,000 and $80,000, respectively, and is included in accounts payable and accrued expenses. Warranty claims expense includes the costs to investigate claims and potential claims, and the costs to replace and/or repair product pursuant to claims, which can include claims not deemed valid by the Company. The accrued product warranty costs are based primarily on historical experience of actual warranty claims and costs as well as current information with respect to potential warranty claims and costs. Warranty claims expense for the years ended October 31, 2024 and 2023 totaled $61,465 and $89,548, respectively. The following table summarizes the changes in the Company’s accrual for product warranties during the fiscal years ended October 31, 2024 and 2023: Years ended October 31, 2024 2023 Balance at beginning of year $ 80,000 $ 75,000 Liabilities accrued for warranties issued during the year 83,000 114,577 Warranty claims paid during the period (76,465 ) (84,548 ) Changes in liability for pre-existing warranties during the year (21,535 ) (25,029 ) Balance at end of year $ 65,000 $ 80,000

Note 7 - Long-term Debt and Not

Note 7 - Long-term Debt and Notes Payable	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Long-Term Debt [Text Block]	(7) Long-term Debt and Notes Payable The Company has credit facilities consisting of a real estate term loan, as amended and restated (the “Virginia Real Estate Loan”) and a Revolving Credit Master Promissory Note and related Loan and Security Agreement (collectively, the “Revolver”). The Virginia Real Estate Loan is with Northeast Bank and is payable in monthly installments of principal and interest. Principal is calculated using the unpaid balance of the loan and a two hundred forty (240) month amortization schedule. Interest is computed on the aggregate principal balance outstanding at a rate equal to the Prime Rate, adjusted monthly on the fifth day of each calendar month in accordance with changes to the Prime Rate, provided, however, that the interest rate is never less than 8.5% per annum on the basis of a 360-day year times the actual number of days elapsed. The Prime Rate On October 31, 2023, OCC and Northeast Bank entered into an Omnibus Amendment of Loan Documents (the “Amendment”) to modify certain loan documents currently in effect between the parties related to the Virginia Real Estate Loan and a supplemental real estate term loan (the “North Carolina Real Estate Loan”). The primary purpose of the Amendment was to: (i) pay off the North Carolina Real Estate Loan; (ii) pay down the balance on the Virginia Real Estate Loan; (iii) extend the maturity date of the Virginia Real Estate Loan through May 5, 2026; (iv) release the collateral of the North Carolina Real Estate Loan; and (v) effective October 5, 2023, modify the interest rate of the Virginia Real Estate Loan to a variable rate equal to the Prime Rate, provided that the interest rate shall never be less than 8.5% per annum. The Loan is secured by a first lien deed of trust on the land and buildings at the Company’s headquarters and manufacturing facilities located in Roanoke, Virginia. The Company had an outstanding balance on its Virginia Real Estate Loan of $2.6 million as of October 31, 2024 and $2.7 million as of October 31, 2023. On June 27, 2024, OCC entered into a Modification Agreement with North Mill Capital LLC (now doing business as SLR Business Credit, “SLR”) to modify the existing Loan and Security Agreement (“Loan Agreement”) dated July 24, 2020. In addition to certain other modifications to the Loan Agreement as set forth in the Modification Agreement, the Modification Agreement provides a two The Revolver with SLR provides the Company with one or more advances in an amount up to: (a) 85% of the aggregate outstanding amount of eligible accounts (the “eligible accounts loan value”); plus (b) the lowest of (i) an amount up to 35% of the aggregate value of eligible inventory, (ii) $7,000,000, and (iii) an amount not to exceed 100% of the then outstanding eligible accounts loan value; minus (c) $1,150,000. The maximum aggregate principal amount subject to the Revolver is $18,000,000. Interest accrues on the daily balance at the per annum rate of 1.5% above the Prime Rate one The Company’s Revolver requires a lockbox arrangement, which provides for all cash receipts to be swept daily to reduce the balance outstanding. This arrangement, combined with the existence of a “subjective acceleration clause” (as defined by U.S. generally accepted accounting principles) in the Revolver, requires the balance on the Revolver to be classified as a current liability. The “subjective acceleration clause” allows SLR to declare an event of default if there is a material adverse change in the Company’s business or financial condition. Upon the occurrence of an event of default, SLR may, among other things, declare all obligations payable in full. Management believes that no such material adverse change has occurred. In addition, at October 31, 2024 and through the date of this report, SLR has not informed the Company that any such event of default has occurred. On June 27, 2024, the Revolver was extended through July 24, 2027 and Management believes that the Company will continue to be able to borrow on the Revolver to fund its operations over the remaining term. The Revolver is secured by all of the following assets, properties, rights and interests in property of the Company whether now owned or existing, or hereafter acquired or arising, and wherever located; all accounts, equipment, commercial tort claims, general intangibles, chattel paper, inventory, negotiable collateral, investment property, financial assets, letter-of-credit rights, supporting obligations, deposit accounts, money or assets of the Company, which hereafter come into the possession, custody, or control of SLR; all proceeds and products, whether tangible or intangible, of any of the foregoing, including proceeds of insurance covering any or all of the foregoing; any and all tangible or intangible property resulting from the sale, lease, license or other disposition of any of the foregoing, or any portion thereof or interest therein, and all proceeds thereof; and any other assets of the Company which may be subject to a lien in favor of SLR as security for the obligations under the Loan Agreement. As of October 31, 2024, the Company had $8.3 million of outstanding borrowings on its Revolver and $3.2 million in available credit. As of October 31, 2023, the Company had $8.3 million of outstanding borrowings on its Revolver and $2.6 million in available credit. The aggregate maturities of long-term debt for each of the three years subsequent to October 31, 2024 are $57,184 in fiscal year 2025, $2,570,791 in fiscal year 2026 and $8,321,782 in fiscal year 2027.

Note 8 - Leases

Note 8 - Leases	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Lessee, Operating and Finance Leases 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). During fiscal year 2024, the lease term was extended for an additional five years. The new expiration date is November 30, 2029. The Company has an operating lease for approximately 36,000 square feet of warehouse space in Roanoke, Virginia. The lease term expires April 30, 2026. The Company also leases certain office equipment under operating leases with initial 60 month terms. The lease terms expire in February and April of 2025. OCC leases printers that are used in the Roanoke, Virginia manufacturing facility. The lease term expires on August 22, 2026. The right-of-use asset is being amortized on a straight line basis over seven years. When the lease term ends, title of the printers transfers to the Company and the remaining net book value of the right-of-use asset will be classified as property and equipment. The Company’s lease contracts may include options to extend or terminate the lease. The Company exercises judgment to determine the term of those leases when such options are present and includes such options in the calculation of the lease term when it is reasonably certain that it will exercise those options. The Company includes contract lease components in its determination of lease payments, while non-lease components of the contracts, such as taxes, insurance, and common area maintenance, are expensed as incurred. At commencement, right-of-use assets and lease liabilities are measured at the present value of future lease payments over the lease term. The Company uses its incremental borrowing rate based on information available at the time of lease commencement to measure the present value of future payments. Operating lease expense is recognized on a straight-line basis over the lease term. Short term leases with an initial term of 12 months or less are expensed as incurred. The Company’s short term leases have month-to-month terms. Operating lease right-of-use assets of $1,872,206 and $596,578 were included in other assets accounts payable and accrued expenses other noncurrent liabilities accounts payable and accrued expenses other noncurrent liabilities The weighted average remaining lease term for the operating leases is 56.1 months and the weighted average discount rate is 9.45% as of October 31, 2024. For the fiscal years ended October 31, 2024 and 2023, cash paid for operating lease liabilities totaled $448,298 and $439,016, respectively. For the fiscal year ended October 31, 2024, right-of-use assets obtained in exchanged for new operating lease liabilities totaled $1,661,150. For the fiscal year ended October 31, 2023, right-of-use assets obtained in exchange for new operating lease liabilities totaled $316,028 and there was a reduction in right-of-use assets for modified operating lease liabilities totaling $15,719. Finance lease right-of-use assets of $111,844 and $141,342 were included in other assets accounts payable and accrued expenses other noncurrent liabilities accounts payable and accrued expenses other noncurrent liabilities The remaining lease term for the finance lease is 22 months and the discount rate is 4.75% as of October 31, 2024. For the fiscal year ended October 31, 2024, cash paid for the finance lease liability totaled $5,410 and $37,459 for interest and principal, respectively. For the fiscal year ended October 31, 2023, cash paid for the finance lease liability totaled $7,144 and $35,724 for interest and principal, respectively. The Company’s future payments due under leases reconciled to the lease liabilities are as follows: Fiscal Year Operating leases Finance lease 2025 540,618 42,868 2026 473,736 55,714 2027 426,496 - 2028 443,557 - 2029 461,297 - Thereafter 38,565 - Total undiscounted lease payments 2,384,269 98,582 Present value discount (481,882 ) (5,131 ) Total lease liability $ 1,902,387 $ 93,451

Note 9 - Employee Benefits

Note 9 - Employee Benefits	12 Months Ended
	Oct. 31, 2024
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-party administrators. During the years ended October 31, 2024 and 2023, total expense of $3,608,222 and $3,448,622, respectively, was recognized under the Company’s insured health care program. 401(k) Plan The Company maintains a 401(k) retirement savings plan for the benefit of its eligible employees. 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. As of October 31, 2024, there were approximately 29,000 remaining shares available for grant under the Optical Cable Corporation Stock Incentive Plan, as amended (“2017 Plan”). 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, 2024 and 2023 was $443,234 and $611,480, respectively. 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 Plan vest over time if certain operational performance-based criteria are met. Failure to meet the criteria required for vesting will result in a portion or all of the shares being forfeited. During the fiscal year ended October 31, 2024, restricted stock awards for employees under the 2017 Plan totaling 329,850 shares were approved by the Compensation Committee of the Board of Directors of the Company. All of the restricted shares granted are operational performance-based shares vesting over approximately five During the fiscal year ended October 31, 2024 and 2023, stock awards to non-employee Directors under the 2017 Plan totaling 39,960 shares and 28,560 shares, respectively, were approved by the Board of Directors of the Company. The shares are part of the non-employee Directors’ annual compensation for service on the Board of Directors. The shares granted to non-employee Directors under the 2017 Plan are subject to a one-year The Company recognizes expense each quarter on service-based shares based on the number of shares expected to vest 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 Plan as of October 31, 2024, and changes during the year ended October 31, 2024, is as follows: Nonvested shares Shares Weighted- average grant date fair value Balance at October 31, 2023 291,154 $ 3.49 Granted 369,810 2.67 Vested (177,149 ) 3.53 Forfeited (842 ) 3.48 Balance at October 31, 2024 482,973 $ 2.85 As of October 31, 2024, the estimated amount of compensation cost related to nonvested equity-based compensation awards that the Company will recognize over a 4.4 year weighted-average period is approximately $1.1 million. Such nonvested equity-based compensation awards are in the form of (i) operational performance-based shares and (ii) operational performance-based shares which have been converted to service-based shares after performance-based criteria have been met.

Note 10 - Business and Credit C

Note 10 - Business and Credit Concentrations, Major Customers and Geographic Information	12 Months Ended
	Oct. 31, 2024
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‑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 October 31, 2024 and 2023 have been adequately provided for in the consolidated financial statements. For the year ended October 31, 2024, 16.4%, or approximately $10.9 million of consolidated net sales were attributable to one For the year ended October 31, 2023, 16.3%, or approximately $11.8 million of consolidated net sales were attributable to one For the years ended October 31, 2024 and 2023, approximately 79% and 82%, respectively, of net sales were from customers in the United States, while approximately 21% and 18%, respectively, were from customers outside of the United States. The Company has a single

Note 11 - Revenue Recognition

Note 11 - Revenue Recognition	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	(11) Revenue Recognition 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 include financing components, as payment terms are generally due 30 to 90 days after shipment. Taxes assessed by governmental authorities and collected from the customer including, but not limited to, any sales and use taxes and value-added taxes, are not included in the transaction price and are not included in net sales. 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 contract assets are recognized. The Company’s contract liability represents advance consideration received from customers prior to transfer of the product. This liability was $70,263 and $110,336 as of October 31, 2024 and 2023, respectively. 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 $232,692 and $252,264 as of October 31, 2024 and 2023, respectively. 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 offered. The warranty claim is generally limited to a credit equal to the purchase price or a promise to repair or replace the product for a specified period of time at no additional charge. 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, 2024 and 2023: Years ended October 31, 2024 2023 United States $ 52,352,338 $ 59,062,858 Outside the United States 14,321,761 13,110,894 Total net sales $ 66,674,099 $ 72,173,752 No individual country outside of the United States accounted for more than 10% of total net sales in fiscal years 2024 or 2023.

Note 12 - Income Taxes

Note 12 - Income Taxes	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	(12) Income Taxes Income tax expense (benefit) for the years ended October 31, 2024 and 2023 consists of: Fiscal year ended October 31, 2024 Current Deferred Total U.S. Federal $ 830 $ — $ 830 State 19,872 — 19,872 Totals $ 20,702 $ — $ 20,702 Fiscal year ended October 31, 2023 Current Deferred Total U.S. Federal $ 105,756 $ — $ 105,756 State 39,968 — 39,968 Totals $ 145,724 $ — $ 145,724 Reported income tax expense for the years ended October 31, 2024 and 2023 differs from the “expected” tax expense (benefit), computed by applying the U.S. Federal statutory income tax rate of 21% in fiscal years 2024 and 2023 to income before income taxes as follows: Years ended October 31, 2024 2023 “Expected” income taxes (benefit) $ (879,797 ) $ 464,567 Increase (reduction) in income tax expense (benefit) resulting from: State income taxes, net of federal benefit (68,711 ) 25,751 Provision to return reconciliation adjustment 1,755 81,100 Excess tax benefits related to share-based compensation 32,023 (11,875 ) Non-deductible life insurance premiums 5,527 5,527 Other differences, net 19,215 11,918 Change in valuation allowance 910,690 (431,264 ) Reported income tax expense $ 20,702 $ 145,724 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, 2024 and 2023 are presented below: October 31, 2024 2023 Deferred tax assets: Accounts receivable, due to allowances for credit losses and sales returns $ 38,782 $ 35,563 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 1,223,072 1,099,469 Liabilities recorded for accrued expenses, deductible for tax purposes when paid 38,204 67,842 Share-based compensation expense 74,422 116,939 Section 163(j) interest 248,890 3,450 Research and experimental expenditures, due to capitalization for tax purposes 152,950 85,419 Net operating loss carryforwards 3,025,852 2,494,887 Plant and equipment, due to differences in depreciation and capital gain recognition 54,413 43,229 Other 9,025 8,122 Total gross deferred tax assets 4,865,610 3,954,920 Valuation allowance (4,865,610 ) (3,954,920 ) Net deferred tax assets $ — $ — As a result of a past acquisition, 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 limitations. As of October 31, 2024, $672,000 of these gross NOL carryforwards remain unused and may be used to reduce future taxable income. These remaining gross NOL carryforwards begin to expire in fiscal year ending October 31, 2028. Additionally, the Company has federal and state gross NOL carryforwards of $13,028,615 and $2,578,417, respectively. Federal NOL carryforwards originate with certain fiscal years from 2019 through 2024 and do not expire. State NOL carryforwards originate with certain fiscal years from 2015 through 2024 and will not begin to expire until fiscal year 2030. For the fiscal years ended October 31, 2024 and 2023, the Company considered all positive and negative evidence available to assess whether it is “more likely than not” that some portion or all of the deferred tax assets will not be realized. For each year, the Company concluded that in accordance with the provisions of Accounting Standards Codification 740, Income Taxes 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 2024 and 2023 follows: October 31, 2024 2023 Unrecognized tax benefits balance at beginning of year $ 28,194 $ 28,488 Gross decreases for tax positions of prior years (1,768 ) (1,330 ) Gross increases for current year tax positions 1,551 1,036 Unrecognized tax benefits balance at end of year $ 27,977 $ 28,194 During fiscal year 2024, the Company increased accrued interest and penalties by $1,746 and $204, respectively, related to unrecognized tax benefits. During fiscal year 2023, the Company increased accrued interest by $1,546 and decreased accrued penalties by $332 related to unrecognized tax benefits. As of October 31, 2024 and 2023, the Company had approximately $19,218 and $17,268, respectively, of accrued interest and penalties related to uncertain tax positions. The total amount of unrecognized tax benefits that would affect the Company’s effective tax rate if recognized is $19,535 and $20,073 as of October 31, 2024 and 2023, respectively. The Company does not expect its unrecognized tax benefits to change significantly in the next 12 months. 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, 2021 through October 31, 2023.

Note 13 - Fair Value Measuremen

Note 13 - Fair Value Measurements	12 Months Ended
	Oct. 31, 2024
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, current installments of long-term debt, accounts payable and accrued expenses, accrued compensation and payroll taxes, and income taxes payable approximate fair value because of the short maturity of these instruments. The carrying values of the Company’s note payable, revolver – noncurrent, and long-term debt, excluding current installments, approximate fair value because the interest rates vary with the market. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses a fair value hierarchy that prioritizes the inputs for valuation methods used to measure fair value. The three levels of the fair value hierarchy are as follows: ● Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. ● Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. ● Level 3 inputs are unobservable inputs for the asset or liability. 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, 2024
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, 2024 2023 Net income (loss) (numerator) $ (4,210,211 ) $ 2,066,498 Shares (denominator) 7,749,182 7,880,429 Basic and diluted net income (loss) per share $ (0.54 ) $ 0.26 Nonvested shares which have been issued and are outstanding as of October 31, 2024 totaling 208,001 were not included in the computation of basic and diluted net loss per share for the year ended October 31, 2024 (because to include such shares would have been antidilutive, or in other words, to do so would have reduced the net loss per share for that period).

Note 15 - Shareholders' Equity

Note 15 - Shareholders' Equity	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Equity [Text Block]	(15) Shareholders Equity Stockholder Protection Rights Agreement On October 28, 2011, the Board of Directors of the Company adopted a Stockholder Protection Rights Agreement (the “Rights Agreement”) and declared a dividend of one one Under the terms of the Amended Rights Agreement, if a person or group who is deemed an Acquiring Person as defined in the Amended Rights Agreement acquires 15% (or other applicable percentage, as provided in the Amended Rights Agreement) or more of the outstanding common stock, each Right will entitle its holder (other than such person or members of such group) to purchase, at the Right’s then current exercise price, a number of shares of common stock having a market value of twice such price. In addition, if the Company is acquired in a merger or other business transaction after a person or group who is deemed an Acquiring Person has acquired such percentage of the outstanding common stock, each Right will entitle its holder (other than such person or members of such group) to purchase, at the Right’s then current exercise price, a number of the acquiring company’s common shares having a market value of twice such price. Upon the occurrence of certain events, each Right will entitle its holder to purchase from the Company one one‑thousandth of a Series A Participating Preferred Share (“Preferred Share”), no par value, at an exercise price of $25, subject to adjustment. Each Preferred Share will entitle its holder to 1,000 votes and will have an aggregate dividend rate of 1,000 times the amount, if any, paid to holders of common stock. The Rights will expire on November 2, 2031, unless the Rights are earlier redeemed or exchanged by the Company for $0.0001 per Right. The adoption of the Rights Agreement and the Amended Rights Agreement has no impact on the financial position or results of operations of the Company. The Company has reserved 100,000 shares of its authorized preferred stock for issuance upon exercise of the Rights.

Note 16 - Gain on Insurance Pro

Note 16 - Gain on Insurance Proceeds	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	(16) Gain on Insurance Proceeds During fiscal year 2024 and 2023, the Company received insurance proceeds in connection with the office building and its contents at the Company’s Asheville facilities sustaining water damage from a burst pipe at the end of December 2022. The office building damaged is separate from the Company’s manufacturing building, which houses its manufacturing operations and certain offices at the same location. There was no significant impact to the Company’s operations as a result of this event. Insurance proceeds in excess of expenses incurred through October 31, 2024 and 2023, a net total of $304,307 and $2,199,463, respectively, is included in other income (expense), net as a gain on insurance proceeds on the Company’s condensed consolidated statement of operations.

Note 17 - Contingencies

Note 17 - Contingencies	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	(17) 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 have a material adverse effect on the Company’s financial position, results of operations or liquidity.

Note 18 - New Accounting Standa

Note 18 - New Accounting Standards Not Yet Adopted	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	(18) New Accounting Standards Not Yet Adopted In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures There are no other new accounting standards issued, but not yet adopted by the Company, which are expected to materially impact the Company’s financial position, operating results or financial statement disclosures.

Note 19 - Quarterly Results of

Note 19 - Quarterly Results of Operations (Unaudited)	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Quarterly Financial Information [Text Block]	(19) Quarterly Results of Operations (Unaudited) The following is a summary of the unaudited quarterly results of operations for the years ended October 31, 2024 and 2023: Quarter ended Fiscal year ended October 31, 2024 January 31 April 30 July 31 October 31 Net sales $ 14,854,765 $ 16,112,098 $ 16,221,671 $ 19,485,565 Gross profit 3,713,522 4,038,636 3,920,224 6,532,390 Selling, general & administrative expenses 5,093,105 5,319,580 5,237,646 5,850,216 Income (loss) from operations (1,399,685 ) (1,301,137 ) (1,337,553 ) 662,088 Income (loss) before income taxes (1,418,195 ) (1,594,119 ) (1,550,370 ) 373,175 Net income (loss) (1,425,274 ) (1,601,346 ) (1,557,053 ) 373,462 Basic and diluted net income (loss) per share $ (0.18 ) $ (0.21 ) $ (0.20 ) $ 0.05 Quarter ended Fiscal year ended October 31, 2023 January 31 April 30 July 31 October 31 Net sales $ 18,283,675 $ 19,619,536 $ 16,941,378 $ 17,329,163 Gross profit 6,521,209 6,782,706 5,116,030 3,874,131 Selling, general & administrative expenses 5,455,466 5,662,339 4,957,518 5,145,418 Income (loss) from operations 1,045,936 1,100,106 138,425 (1,291,388 ) Income (loss) before income taxes 842,448 2,498,020 99,883 (1,228,129 ) Net income (loss) 809,984 2,423,087 100,803 (1,267,376 ) Basic and diluted net income (loss) per share $ 0.10 $ 0.31 $ 0.01 $ (0.17 )

Note 20 - Restatement of Previo

Note 20 - Restatement of Previously Issued Financial Statements	12 Months Ended
	Oct. 31, 2024
Notes to Financial Statements
Error Correction [Text Block]	(20) Restatement of Previously Issued Financial Statements In connection with the preparation of the Company’s 2024 financial statements, it was determined that the balance on the Revolver was incorrectly classified as a noncurrent liability in the 2023 consolidated balance sheet. U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) requires that a borrower’s balance outstanding on a revolving line of credit be reflected as a current liability when the loan agreement includes provisions for both (i) a required lock box arrangement with a lender in which the borrower does not have the ability to avoid using working capital to repay the amounts outstanding, whether or not the borrower has the ability to re-borrow funds based on its regular borrowing base calculation in the ordinary course of business, and (ii) a “subjective acceleration clause”, which permits the lender to accelerate the loan upon the occurrence of a material adverse change. The Company’s management has further concluded that the classification as a current liability is required in accordance with U.S. GAAP even if (i) it is deemed that the “subjective acceleration clause” is not probable to be utilized by the lender within twelve months from the date of the balance sheet and (ii) the maturity date of the loan extends more than twelve months from the date of the balance sheet. The Company’s Revolving Credit Master Promissory Note and Related Loan and Security Agreement (the “Revolver”) includes provisions for both: (i) a required lock box arrangement as described above for the collection of accounts receivables and other receipts by the Company and (ii) a “material adverse change” provision, similar to clauses included customarily in loan agreements. The Company’s Revolver matures July 24, 2027. Impact of Restatement The following table is a summary of the effect of this restatement for the periods presented: Fiscal year 2024 July 31, 2024 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 7,280,673 $ 7,280,673 Total current liabilities 6,976,106 7,280,673 14,256,779 Note payable, revolver - noncurrent 7,280,673 (7,280,673 ) — April 30, 2024 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 8,046,853 $ 8,046,853 Total current liabilities 7,134,468 8,046,853 15,181,321 Note payable, revolver - noncurrent 8,046,853 (8,046,853 ) — January 31, 2024 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 7,459,960 $ 7,459,960 Total current liabilities 6,729,425 7,459,960 14,189,385 Note payable, revolver - noncurrent 7,459,960 (7,459,960 ) — Fiscal year 2023 October 31, 2023 As previously reported Adjustment As restated Note payable, revolver - current $ — $ 8,324,397 $ 8,324,397 Total current liabilities 7,768,202 8,324,397 16,092,599 Note payable, revolver - noncurrent 8,324,397 (8,324,397 ) — July 31, 2023 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 7,314,692 $ 7,314,692 Total current liabilities 11,816,049 7,314,692 19,130,741 Note payable, revolver - noncurrent 7,314,692 (7,314,692 ) — April 30, 2023 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 8,006,810 $ 8,006,810 Total current liabilities 7,664,309 8,006,810 15,671,119 Note payable, revolver - noncurrent 8,006,810 (8,006,810 ) — January 31, 2023 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 6,823,065 $ 6,823,065 Total current liabilities 7,713,849 6,823,065 14,536,914 Note payable, revolver - noncurrent 6,823,065 (6,823,065 ) — The Company’s prior classification of the Revolver balance as noncurrent did not have any effect on the Company’s previously reported total assets, total liabilities or total shareholders’ equity. Further, the prior classification did not have any effect on the Company’s previously reported consolidated statements of operations, consolidated statements of shareholders’ equity or consolidated statements of cash flows. There also was no impact on any covenants with lenders for the periods, as the Company’s borrowing arrangements do not include financial covenants that would be impacted by the classification of the Revolver. It should also be noted that while U.S. GAAP requires current classification of the Revolver balance outstanding for the Restatement, the lender has not used the subjective acceleration clause at any time during the Company’s arrangement with the lender, including up to the date of this filing, which is more than twelve months after the filing of the fiscal year 2023 Annual Report on Form 10-K.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Oct. 31, 2024
Accounting Policies [Abstract]
Description of Business [Policy Text Block]	(a) Description of Business Optical Cable Corporation and its subsidiaries (collectively, the “Company” or “OCC ® Founded in 1983, OCC is headquartered in Roanoke, Virginia with offices, manufacturing and warehouse facilities located in Roanoke, Virginia; near Asheville, North Carolina; and near Dallas, Texas. 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.
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 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, 2024, the Company did not For purposes of the consolidated statements of cash flows, the Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents. As of October 31, 2024 and 2023, the Company had no
Receivable [Policy Text Block]	(d) Trade Accounts Receivable and Allowance for Credit Losses Trade accounts receivable are recorded at the invoiced amount and do not typically bear interest. The allowance for credit losses is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company reviews outstanding trade accounts receivable at the end of each quarter and records expected credit losses as deemed appropriate for (i) certain individual customers and (ii) for all other trade accounts receivable in total. In determining the amount of allowance for credit losses to be recorded for individual customers, the Company assesses the net amount expected to be collected from each customer. In addition, the Company establishes an allowance for all other receivables for which no specific allowances are deemed necessary. This portion of the allowance for credit losses is based on a percentage of total trade accounts receivable with different percentages used based on different age categories of receivables. The percentages used are based on the Company’s expectations of net amounts expected to be collected. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers.
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-in, first-out basis. The cost of work in process and finished goods inventories is determined either as average cost or standard cost, depending upon the product type. A standard cost system is used to estimate the actual costs of inventory for certain product types. Actual costs and production cost levels may vary from the standards established and such variances, if material, are charged to cost of goods sold or capitalized to inventory. Also see note 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
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 amortized until such time that the patent and/or trademark is granted. The Company estimates the useful life of patents and trademarks based on the period over which the intangible asset is expected to contribute directly or indirectly to future cash flows. If patents and/or trademarks are not granted, the capitalized legal fees are expensed during the period in which such notification is received. If the Company decides to abandon a patent or trademark application, the capitalized legal fees are expensed during the period in which the Company’s decision is made.
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 have the right of return unless a product is defective or damaged and is within the parameters of the product warranty in effect for the sale. Also see note 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 $1.9 million and $2.1 million are included in selling, general and administrative expenses for the fiscal years ended October 31, 2024 and 2023, respectively.
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 $999,000 and $983,000 for the fiscal years ended October 31, 2024 and 2023, respectively, and are included in selling, general and administrative expenses in the consolidated statements of operations.
Advertising Cost [Policy Text Block]	(k) Advertising Advertising costs are expensed as incurred. Advertising costs totaled approximately $164,000 and $191,000 for the fiscal years ended October 31, 2024 and 2023, respectively, and are included in selling, general and administrative expenses in the consolidated statements of operations.
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 of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as a component of income tax expense. Also see note 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 be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. When applicable, assets to be disposed of are reported separately in the consolidated balance sheet at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated.
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: (i) includes common shares outstanding issued as share-based compensation and still subject to vesting requirements in the calculation of diluted net income per share and (ii) excludes common shares outstanding issued as share-based compensation and still subject to vesting requirements in calculation of diluted net loss per share. Also see note 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 Credit_2

Note 2 - Allowance for Credit Losses for Trade Accounts Receivable (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Years ended October 31, 2024 2023 Balance at beginning of year $ 71,189 $ 69,643 Bad debt expense 20,936 1,546 Balance at end of year $ 92,125 $ 71,189

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	October 31, 2024 2023 Finished goods $ 5,098,148 $ 5,937,682 Work in process 3,724,999 4,372,913 Raw materials 9,562,563 13,130,478 Production supplies 339,607 325,253 Total $ 18,725,317 $ 23,766,326

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment, Net (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	October 31, 2024 2023 Land and land improvements $ 3,148,834 $ 3,148,834 Buildings and improvements 8,305,039 8,305,039 Machinery and equipment 26,032,752 26,185,346 Furniture and fixtures 902,012 902,012 Construction in progress 162,288 199,772 Total property and equipment, at cost 38,550,925 38,741,003 Less accumulated amortization and depreciation (31,669,568 ) (31,601,387 ) Property and equipment, net $ 6,881,357 $ 7,139,616

Note 6 - Product Warranties (Ta

Note 6 - Product Warranties (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Years ended October 31, 2024 2023 Balance at beginning of year $ 80,000 $ 75,000 Liabilities accrued for warranties issued during the year 83,000 114,577 Warranty claims paid during the period (76,465 ) (84,548 ) Changes in liability for pre-existing warranties during the year (21,535 ) (25,029 ) Balance at end of year $ 65,000 $ 80,000

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Lessee, Lease Liability, Maturity [Table Text Block]	Fiscal Year Operating leases Finance lease 2025 540,618 42,868 2026 473,736 55,714 2027 426,496 - 2028 443,557 - 2029 461,297 - Thereafter 38,565 - Total undiscounted lease payments 2,384,269 98,582 Present value discount (481,882 ) (5,131 ) Total lease liability $ 1,902,387 $ 93,451

Note 9 - Employee Benefits (Tab

Note 9 - Employee Benefits (Tables)	12 Months Ended
	Oct. 31, 2024
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, 2023 291,154 $ 3.49 Granted 369,810 2.67 Vested (177,149 ) 3.53 Forfeited (842 ) 3.48 Balance at October 31, 2024 482,973 $ 2.85

Note 11 - Revenue Recognition (

Note 11 - Revenue Recognition (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Revenue from External Customers by Geographic Areas [Table Text Block]	Years ended October 31, 2024 2023 United States $ 52,352,338 $ 59,062,858 Outside the United States 14,321,761 13,110,894 Total net sales $ 66,674,099 $ 72,173,752

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Fiscal year ended October 31, 2024 Current Deferred Total U.S. Federal $ 830 $ — $ 830 State 19,872 — 19,872 Totals $ 20,702 $ — $ 20,702 Fiscal year ended October 31, 2023 Current Deferred Total U.S. Federal $ 105,756 $ — $ 105,756 State 39,968 — 39,968 Totals $ 145,724 $ — $ 145,724
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years ended October 31, 2024 2023 “Expected” income taxes (benefit) $ (879,797 ) $ 464,567 Increase (reduction) in income tax expense (benefit) resulting from: State income taxes, net of federal benefit (68,711 ) 25,751 Provision to return reconciliation adjustment 1,755 81,100 Excess tax benefits related to share-based compensation 32,023 (11,875 ) Non-deductible life insurance premiums 5,527 5,527 Other differences, net 19,215 11,918 Change in valuation allowance 910,690 (431,264 ) Reported income tax expense $ 20,702 $ 145,724
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	October 31, 2024 2023 Deferred tax assets: Accounts receivable, due to allowances for credit losses and sales returns $ 38,782 $ 35,563 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 1,223,072 1,099,469 Liabilities recorded for accrued expenses, deductible for tax purposes when paid 38,204 67,842 Share-based compensation expense 74,422 116,939 Section 163(j) interest 248,890 3,450 Research and experimental expenditures, due to capitalization for tax purposes 152,950 85,419 Net operating loss carryforwards 3,025,852 2,494,887 Plant and equipment, due to differences in depreciation and capital gain recognition 54,413 43,229 Other 9,025 8,122 Total gross deferred tax assets 4,865,610 3,954,920 Valuation allowance (4,865,610 ) (3,954,920 ) Net deferred tax assets $ — $ —
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	October 31, 2024 2023 Unrecognized tax benefits balance at beginning of year $ 28,194 $ 28,488 Gross decreases for tax positions of prior years (1,768 ) (1,330 ) Gross increases for current year tax positions 1,551 1,036 Unrecognized tax benefits balance at end of year $ 27,977 $ 28,194

Note 14 - Net Income (Loss) P_2

Note 14 - Net Income (Loss) Per Share (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Years ended October 31, 2024 2023 Net income (loss) (numerator) $ (4,210,211 ) $ 2,066,498 Shares (denominator) 7,749,182 7,880,429 Basic and diluted net income (loss) per share $ (0.54 ) $ 0.26

Note 19 - Quarterly Results o_2

Note 19 - Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Quarterly Financial Information [Table Text Block]	Quarter ended Fiscal year ended October 31, 2024 January 31 April 30 July 31 October 31 Net sales $ 14,854,765 $ 16,112,098 $ 16,221,671 $ 19,485,565 Gross profit 3,713,522 4,038,636 3,920,224 6,532,390 Selling, general & administrative expenses 5,093,105 5,319,580 5,237,646 5,850,216 Income (loss) from operations (1,399,685 ) (1,301,137 ) (1,337,553 ) 662,088 Income (loss) before income taxes (1,418,195 ) (1,594,119 ) (1,550,370 ) 373,175 Net income (loss) (1,425,274 ) (1,601,346 ) (1,557,053 ) 373,462 Basic and diluted net income (loss) per share $ (0.18 ) $ (0.21 ) $ (0.20 ) $ 0.05 Quarter ended Fiscal year ended October 31, 2023 January 31 April 30 July 31 October 31 Net sales $ 18,283,675 $ 19,619,536 $ 16,941,378 $ 17,329,163 Gross profit 6,521,209 6,782,706 5,116,030 3,874,131 Selling, general & administrative expenses 5,455,466 5,662,339 4,957,518 5,145,418 Income (loss) from operations 1,045,936 1,100,106 138,425 (1,291,388 ) Income (loss) before income taxes 842,448 2,498,020 99,883 (1,228,129 ) Net income (loss) 809,984 2,423,087 100,803 (1,267,376 ) Basic and diluted net income (loss) per share $ 0.10 $ 0.31 $ 0.01 $ (0.17 )

Note 20 - Restatement of Prev_2

Note 20 - Restatement of Previously Issued Financial Statements (Tables)	12 Months Ended
	Oct. 31, 2024
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	Fiscal year 2024 July 31, 2024 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 7,280,673 $ 7,280,673 Total current liabilities 6,976,106 7,280,673 14,256,779 Note payable, revolver - noncurrent 7,280,673 (7,280,673 ) — April 30, 2024 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 8,046,853 $ 8,046,853 Total current liabilities 7,134,468 8,046,853 15,181,321 Note payable, revolver - noncurrent 8,046,853 (8,046,853 ) — January 31, 2024 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 7,459,960 $ 7,459,960 Total current liabilities 6,729,425 7,459,960 14,189,385 Note payable, revolver - noncurrent 7,459,960 (7,459,960 ) — Fiscal year 2023 October 31, 2023 As previously reported Adjustment As restated Note payable, revolver - current $ — $ 8,324,397 $ 8,324,397 Total current liabilities 7,768,202 8,324,397 16,092,599 Note payable, revolver - noncurrent 8,324,397 (8,324,397 ) — July 31, 2023 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 7,314,692 $ 7,314,692 Total current liabilities 11,816,049 7,314,692 19,130,741 Note payable, revolver - noncurrent 7,314,692 (7,314,692 ) — April 30, 2023 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 8,006,810 $ 8,006,810 Total current liabilities 7,664,309 8,006,810 15,671,119 Note payable, revolver - noncurrent 8,006,810 (8,006,810 ) — January 31, 2023 (Unaudited) As previously reported Adjustment As restated Note payable, revolver - current $ — $ 6,823,065 $ 6,823,065 Total current liabilities 7,713,849 6,823,065 14,536,914 Note payable, revolver - noncurrent 6,823,065 (6,823,065 ) —

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, 2024	Oct. 31, 2023
Cash, Uninsured Amount	$ 0	$ 1,200,000
Cash Equivalents, at Carrying Value, Total	0	0
Selling, General and Administrative Expenses [Member]
Shipping and Handling Costs	1,900,000	2,100,000
Research and Development Expense	999,000	983,000
Advertising Expense	$ 164,000	$ 191,000
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
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	15 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	15 years

Note 2 - Allowance for Doubtful

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, 2024	Oct. 31, 2023
Balance at beginning of year	$ 71,189	$ 69,643
Bad debt expense	20,936	1,546
Balance at end of year	$ 92,125	$ 71,189

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventories (Details) - USD ($)	Oct. 31, 2024	Oct. 31, 2023
Finished goods	$ 5,098,148	$ 5,937,682
Work in process	3,724,999	4,372,913
Raw materials	9,562,563	13,130,478
Production supplies	339,607	325,253
Total	$ 18,725,317	$ 23,766,326

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($)	Oct. 31, 2024	Oct. 31, 2023
Property and equipment, gross	$ 38,550,925	$ 38,741,003
Less accumulated amortization and depreciation	(31,669,568)	(31,601,387)
Property and equipment, net	6,881,357	7,139,616
Land and Land Improvements [Member]
Property and equipment, gross	3,148,834	3,148,834
Building and Building Improvements [Member]
Property and equipment, gross	8,305,039	8,305,039
Machinery and Equipment [Member]
Property and equipment, gross	26,032,752	26,185,346
Furniture and Fixtures [Member]
Property and equipment, gross	902,012	902,012
Construction in Progress [Member]
Property and equipment, gross	$ 162,288	$ 199,772

Note 5 - Intangible Assets (Det

Note 5 - Intangible Assets (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Amortization of Intangible Assets	$ 54,062	$ 53,941
Finite-Lived Intangible Asset, Expected Amortization, Year One	54,000
Finite-Lived Intangible Asset, Expected Amortization, Year Two	54,000
Finite-Lived Intangible Asset, Expected Amortization, Year Three	54,000
Finite-Lived Intangible Asset, Expected Amortization, Year Four	54,000
Finite-Lived Intangible Asset, Expected Amortization, Year Five	54,000
Finite-Lived Intangible Assets, Gross	879,963	868,564
Finite-Lived Intangible Assets, Accumulated Amortization	$ 367,989	$ 313,927

Note 6 - Product Warranties (De

Note 6 - Product Warranties (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2022
Standard and Extended Product Warranty Accrual, Ending Balance	$ 65,000	$ 80,000	$ 75,000
Product Warranty Expense	61,465	89,548
Accounts Payable and Accrued Liabilities [Member]
Standard and Extended Product Warranty Accrual, Ending Balance	$ 65,000	$ 80,000

Note 6 - Product Warranties - C

Note 6 - Product Warranties - Changes in Accrual for Product Warranties (Details) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Balance at beginning of year	$ 80,000	$ 75,000
Liabilities accrued for warranties issued during the year	83,000	114,577
Warranty claims paid during the period	(76,465)	(84,548)
Changes in liability for pre-existing warranties during the year	(21,535)	(25,029)
Balance at end of year	$ 65,000	$ 80,000

Note 7 - Long-term Debt and N_2

Note 7 - Long-term Debt and Notes Payable (Details Textual) - USD ($)		12 Months Ended
	Jul. 24, 2020	Oct. 31, 2024	Oct. 31, 2023	Jun. 27, 2024
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		us-gaap:PrimeRateMember	us-gaap:PrimeRateMember
Loans Payable, Noncurrent		$ 2,570,791	$ 2,622,620
Long-Term Debt, Maturity, Year One		57,184
Long-Term Debt, Maturity, Year Two		2,570,791
Long-Term Debt, Maturity, Year Three		$ 8,321,782
Revolving Credit Facility [Member] | North Mill Capital LLC [Member]
Debt Instrument, Interest Rate, Effective Percentage	4.75%	9.50%	10%
Debt Instrument, Initial Term, Extension (Year)				2 years
Line of Credit Facility, Additional Capacity for Advances	$ 5,000,000	$ 7,000,000		$ 7,000,000
Line of Credit Facility, Percent of Eligible Accounts		85%
Line of Credit Facility, Percent of Eligible Inventory		35%
Line of Credit Facility, Maximum Percentage of Outstanding Eligible Accounts Loan Value		100%
Line of Credit Facility, Restricted Capacity for Advances		$ 1,150,000
Line of Credit Facility, Maximum Borrowing Capacity		$ 18,000,000
Debt Instrument, Basis Spread on Variable Rate		1.50%
Debt Instrument, Term Extensions (Year)	1 year
Long-Term Line of Credit, Total		$ 8,300,000	$ 8,300,000
Line of Credit Facility, Remaining Borrowing Capacity		$ 3,200,000	$ 2,600,000
Maximum [Member] | Revolving Credit Facility [Member] | North Mill Capital LLC [Member]
Debt Instrument, Interest Rate, Effective Percentage	6%
Virginia Real Estate Loan [Member]
Debt Instrument, Amortization Period (Month)		240 months
Debt Instrument, Interest Rate, Effective Percentage		8%	8.50%
Loans Payable, Noncurrent		$ 2,600,000	$ 2,700,000
Virginia Real Estate Loan [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage		8.50%	8.50%

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual)	12 Months Ended
	Oct. 31, 2024 USD ($) ft²	Oct. 31, 2023 USD ($)
Operating Lease, Right-of-Use Asset	$ 1,872,206	$ 596,578
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net	Other assets, net
Operating Lease, Liability, Current	$ 376,965	$ 414,159
Operating Lease, Liability, Noncurrent	$ 1,525,423	$ 227,925
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Operating Lease, Expense	$ 451,197	$ 430,765
Operating Lease, Weighted Average Remaining Lease Term (Month)	56 months 3 days
Operating Lease, Weighted Average Discount Rate, Percent	9.45%
Operating Lease, Payments	$ 448,298	439,016
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	1,661,150	316,028
Operating Lease, Right-of-Use Asset, Reduction		15,719
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total	$ 111,844	$ 141,342
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net	Other assets, net
Finance Lease, Liability, Current	$ 39,277	$ 37,459
Finance Lease, Liability, Noncurrent	$ 54,174	$ 93,451
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued expenses	Accounts payable and accrued expenses
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Finance Lease, Interest Expense	$ 5,410	$ 7,144
Finance Lease, Right-of-Use Asset, Amortization	$ 29,497	29,497
Lessee, Finance Lease, Remaining Lease Term (Month)	22 months
Lessee, Finance Lease, Discount Rate	4.75%
Finance Lease, Principal Payments	$ 37,459	$ 35,724
Operating Lease for Office, Manufacturing and Warehouse Space in Plano, Texas [Member]
Area of Real Estate Property (Square Foot) | ft²	34,000
Operating Lease for Warehouse Space in Roanoke, Virginia [Member]
Area of Real Estate Property (Square Foot) | ft²	36,000
Operating Lease For Office Equipment [Member]
Lessee, Operating Lease, Term of Contract (Month)	60 months

Note 8 - Leases - Future Paymen

Note 8 - Leases - Future Payments Due (Details)	Oct. 31, 2024 USD ($)
2025, operating	$ 540,618
2025, finance	42,868
2026, operating	473,736
2026, finance	55,714
2027, operating	426,496
2027, finance	0
2028, operating	443,557
2028, finance	0
2029, operating	461,297
2029, finance	0
Thereafter, operating	38,565
Thereafter, finance	0
Total undiscounted lease payments, operating	2,384,269
Total undiscounted lease payments, finance	98,582
Present value discount, operating	(481,882)
Present value discount, finance	(5,131)
Total lease liability, operating	1,902,387
Total lease liability, finance	$ 93,451

Note 9 - Employee Benefits (Det

Note 9 - Employee Benefits (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Health Insurance Coverage Expense	$ 3,608,222	$ 3,448,622
Defined Contribution Plan, Employer Discretionary Contribution Amount	54,494	52,816
Share-Based Payment Arrangement, Expense	$ 443,234	$ 611,480
Services and Performance Based Shares [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	4 years 4 months 24 days
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 1,100,000
The 2017 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant	29,000
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 (in shares)	369,810
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	39,960	28,560
The 2017 Stock Incentive Plan [Member] | Restricted Stock [Member] | Share-Based Payment Arrangement, Nonemployee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	1 year
Plan 2017 [Member] | Restricted Stock [Member] | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	329,850
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	5 years

Note 9 - Employee Benefits - Re

Note 9 - Employee Benefits - Restricted Stock Activity (Details) - Restricted Stock [Member] - The 2017 Stock Incentive Plan [Member]	12 Months Ended
	Oct. 31, 2024 $ / shares shares
Beginning Balance (in shares) | shares	291,154
Beginning Balance, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 3.49
Granted (in shares) | shares	369,810
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 2.67
Vested (in shares) | shares	(177,149)
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 3.53
Forfeited (in shares) | shares	(842)
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 3.48
Ending Balance (in shares) | shares	482,973
Ending Balance, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 2.85

Note 10 - Business and Credit_2

Note 10 - Business and Credit Concentrations, Major Customers and Geographic Information (Details Textual) $ in Millions	12 Months Ended
	Oct. 31, 2024 USD ($)	Oct. 31, 2023 USD ($)
Number of Reportable Segments	1
Customer One [Member]
Revenues	$ 10.9	$ 11.8
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Number of Customers	1	1
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer One [Member]
Concentration Risk, Percentage	16.40%	16.30%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member]
Concentration Risk, Percentage	9.80%	6.30%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk, Percentage	7.70%
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES
Concentration Risk, Percentage	79%	82%
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | Non-US [Member]
Concentration Risk, Percentage	21%	18%

Note 11 - Revenue Recognition_2

Note 11 - Revenue Recognition (Details Textual) - USD ($)	Oct. 31, 2024	Oct. 31, 2023
Contract with Customer, Liability, Total	$ 70,263	$ 110,336
Contract with Customer, Refund Liability, Total	$ 232,692	$ 252,264

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, 2024	Jul. 31, 2024	Apr. 30, 2024	Jan. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Net sales	$ 19,485,565	$ 16,221,671	$ 16,112,098	$ 14,854,765	$ 17,329,163	$ 16,941,378	$ 19,619,536	$ 18,283,675	$ 66,674,099	$ 72,173,752
UNITED STATES
Net sales									52,352,338	59,062,858
Non-US [Member]
Net sales									$ 14,321,761	$ 13,110,894

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2009
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%
Deferred Tax Assets, Gross	$ 4,865,610	$ 3,954,920
Deferred Tax Assets, Operating Loss Carryforwards	3,025,852	2,494,887
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	13,028,615
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	2,578,417
Deferred Tax Assets, Valuation Allowance	4,865,610	3,954,920
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	1,746	1,546
Unrecognized Tax Benefits, Income Tax Penalties Accrued	204	332
Income Tax Examination, Penalties and Interest Accrued	19,218	17,268
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	19,535	$ 20,073
AOS Acquisition [Member]
Deferred Tax Assets, Gross			$ 1,517,605
Deferred Tax Assets, Operating Loss Carryforwards	$ 672,000		$ 4,455,525

Note 12 - Income Taxes - Income

Note 12 - Income Taxes - Income Tax Expense (Details) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
U.S. Federal, Current Income Tax Expense (Benefit)	$ 830	$ 105,756
U.S. Federal, Deferred Income Tax Expense (Benefit)	0	0
U.S. Federal, Net Income Tax Expense (Benefit)	830	105,756
State, Current Income Tax Expense (Benefit)	19,872	39,968
State, Deferred Income Tax Expense (Benefit)	0	0
State, Net Income Tax Expense (Benefit)	19,872	39,968
Total, Current Income Tax Expense (Benefit)	20,702	145,724
Total, Deferred Income Tax Expense (Benefit)	0	0
Total, Net Income Tax Expense (Benefit)	$ 20,702	$ 145,724

Note 12 - Income Taxes - Effect

Note 12 - Income Taxes - Effective Income Tax (Details) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
“Expected” income taxes (benefit)	$ (879,797)	$ 464,567
State income taxes, net of federal benefit	(68,711)	25,751
Provision to return reconciliation adjustment	1,755	81,100
Excess tax benefits related to share-based compensation	32,023	(11,875)
Non-deductible life insurance premiums	5,527	5,527
Other differences, net	19,215	11,918
Change in valuation allowance	910,690	(431,264)
Reported income tax expense	$ 20,702	$ 145,724

Note 12 - Income Taxes - Deferr

Note 12 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Oct. 31, 2024	Oct. 31, 2023
Accounts receivable, due to allowances for credit losses and sales returns	$ 38,782	$ 35,563
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	1,223,072	1,099,469
Liabilities recorded for accrued expenses, deductible for tax purposes when paid	38,204	67,842
Share-based compensation expense	74,422	116,939
Section 163(j) interest	248,890	3,450
Research and experimental expenditures, due to capitalization for tax purposes	152,950	85,419
Net operating loss carryforwards	3,025,852	2,494,887
Plant and equipment, due to differences in depreciation and capital gain recognition	54,413	43,229
Other	9,025	8,122
Total gross deferred tax assets	4,865,610	3,954,920
Valuation allowance	(4,865,610)	(3,954,920)
Net deferred tax assets	$ 0	$ 0

Note 12 - Income Taxes - Unreco

Note 12 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Unrecognized tax benefits balance at beginning of year	$ 28,194	$ 28,488
Gross decreases for tax positions of prior years	(1,768)	(1,330)
Gross increases for current year tax positions	1,551	1,036
Unrecognized tax benefits balance at end of year	$ 27,977	$ 28,194

Note 14 - Net Income (Loss) P_3

Note 14 - Net Income (Loss) Per Share (Details Textual)	12 Months Ended
	Oct. 31, 2024 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	208,001

Note 14 - Net Income (Loss) P_4

Note 14 - 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, 2024	Jul. 31, 2024	Apr. 30, 2024	Jan. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Net income (loss)	$ 373,462	$ (1,557,053)	$ (1,601,346)	$ (1,425,274)	$ (1,267,376)	$ 100,803	$ 2,423,087	$ 809,984	$ (4,210,211)	$ 2,066,498
Shares (denominator) (in shares)									7,749,182	7,880,429
Net income (loss) per share - basic and diluted (in dollars per share)	$ 0.05	$ (0.2)	$ (0.21)	$ (0.18)	$ (0.17)	$ 0.01	$ 0.31	$ 0.1	$ (0.54)	$ 0.26

Note 15 - Shareholders' Equity

Note 15 - Shareholders' Equity (Details Textual)	Nov. 02, 2021 shares	Oct. 28, 2011 $ / shares shares	Oct. 31, 2024 shares
Common Stock Dividends, Rights Per Share (in shares) | shares	1	1
Minimum Percentage of Stock Owner in Stockholder Protection Rights Agreement		15%
Preferred Stock, Exercise Price (in dollars per share) | $ / 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 (in dollars per share) | $ / shares		$ 0.0001
Preferred Stock, Capital Shares Reserved for Future Issuance (in shares) | shares			100,000

Note 16 - Gain on Insurance P_2

Note 16 - Gain on Insurance Proceeds (Details Textual) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Unusual or Infrequent Item, or Both, Insurance Proceeds	$ 304,307	$ 2,199,463

Note 19 - Quarterly Results o_3

Note 19 - Quarterly Results of Operations (Unaudited) - Schedule of Quarterly Financial Information (Details) - USD ($)	3 Months Ended								12 Months Ended
	Oct. 31, 2024	Jul. 31, 2024	Apr. 30, 2024	Jan. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Net sales	$ 19,485,565	$ 16,221,671	$ 16,112,098	$ 14,854,765	$ 17,329,163	$ 16,941,378	$ 19,619,536	$ 18,283,675	$ 66,674,099	$ 72,173,752
Gross profit	6,532,390	3,920,224	4,038,636	3,713,522	3,874,131	5,116,030	6,782,706	6,521,209	18,204,772	22,294,076
Selling, general and administrative expenses	5,850,216	5,237,646	5,319,580	5,093,105	5,145,418	4,957,518	5,662,339	5,455,466	21,500,547	21,220,741
Income (loss) from operations	662,088	(1,337,553)	(1,301,137)	(1,399,685)	(1,291,388)	138,425	1,100,106	1,045,936	(3,376,287)	993,079
Income (loss) before income taxes	373,175	(1,550,370)	(1,594,119)	(1,418,195)	(1,228,129)	99,883	2,498,020	842,448	(4,189,509)	2,212,222
Net income (loss)	$ 373,462	$ (1,557,053)	$ (1,601,346)	$ (1,425,274)	$ (1,267,376)	$ 100,803	$ 2,423,087	$ 809,984	$ (4,210,211)	$ 2,066,498
Net income (loss) per share - basic and diluted (in dollars per share)	$ 0.05	$ (0.2)	$ (0.21)	$ (0.18)	$ (0.17)	$ 0.01	$ 0.31	$ 0.1	$ (0.54)	$ 0.26

Note 20 - Restatement of Prev_3

Note 20 - Restatement of Previously Issued Financial Statements - Effect of Restatement (Details) - USD ($)	Oct. 31, 2024	Jul. 31, 2024	Apr. 30, 2024	Jan. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Jan. 31, 2023
Note payable, revolver - current	$ 8,321,782	$ 7,280,673	$ 8,046,853	$ 7,459,960	$ 8,324,397	$ 7,314,692	$ 8,006,810	$ 6,823,065
Total current liabilities	$ 15,143,512	14,256,779	15,181,321	14,189,385	16,092,599	19,130,741	15,671,119	14,536,914
Note payable, revolver - noncurrent		0	0	0	0	0	0	0
Previously Reported [Member]
Note payable, revolver - current		0	0	0	0	0	0	0
Total current liabilities		6,976,106	7,134,468	6,729,425	7,768,202	11,816,049	7,664,309	7,713,849
Note payable, revolver - noncurrent		7,280,673	8,046,853	7,459,960	8,324,397	7,314,692	8,006,810	6,823,065
Revision of Prior Period, Error Correction, Adjustment [Member]
Note payable, revolver - current		7,280,673	8,046,853	7,459,960	8,324,397	7,314,692	8,006,810	6,823,065
Total current liabilities		7,280,673	8,046,853	7,459,960	8,324,397	7,314,692	8,006,810	6,823,065
Note payable, revolver - noncurrent		$ (7,280,673)	$ (8,046,853)	$ (7,459,960)	$ (8,324,397)	$ (7,314,692)	$ (8,006,810)	$ (6,823,065)