Pharma-Bio Serv (PBSV) 10-K 29 Jan 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Oct. 31, 2019	Jan. 24, 2020	Apr. 30, 2019
Document And Entity Information
Entity Registrant Name	Pharma-Bio Serv, Inc.
Entity Central Index Key	0001304161
Document Type	10-K
Document Period End Date	Oct. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Public Float			$ 14,350,924
Entity Common Stock, Shares Outstanding		22,995,881
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Oct. 31, 2019	Oct. 31, 2018
Current assets
Cash and cash equivalents	$ 15,490,174	$ 16,029,920
Marketable securities	0	44,475
Accounts receivable	8,781,026	5,193,385
Current portion - promissory note receivable due from sale of assets from discontinued operations	1,250,000	1,750,000
Prepaids and other assets	453,780	394,017
Total current assets	25,974,980	23,411,797
Promissory note receivable due from sale of assets from discontinued operations	0	1,250,000
Property and equipment	290,658	298,020
Other assets	367,437	418,495
Total assets	26,633,075	25,378,312
Current liabilities
Current portion-obligations under capital leases	11,030	13,768
Accounts payable and accrued expenses	1,590,172	2,140,001
Dividend payable to stockholders	1,725,295	0
Current portion of US Tax Reform Transition Tax and income taxes payable	344,043	411,903
Total current liabilities	3,670,540	2,565,672
US Tax Reform Transition Tax payable	2,270,000	2,485,000
Obligations under capital leases	67,079	46,027
Other liabilities	17,950	17,950
Total liabilities	6,025,569	5,114,649
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value; authorized 10,000,000 shares; none issued or outstanding	0	0
Common stock, $0.0001 par value; authorized 50,000,000 shares; 23,397,707 and 23,373,817 shares issued, and 22,995,881 and 23,058,413 shares outstanding at October 31, 2019 and 2018, respectively	2,340	2,337
Additional paid-in capital	1,381,076	1,346,956
Retained earnings	19,473,069	19,111,111
Accumulated other comprehensive loss	143,600	107,947
Stockholders' equity before treasury stock	21,000,085	20,568,351
Treasury stock, at cost; 401,826 and 315,404 common shares held at October 31, 2019 and 2018, respectively	(392,579)	(304,688)
Total stockholders' equity	20,607,506	20,263,663
Total liabilities and stockholders' equity	$ 26,633,075	$ 25,378,312

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2019	Oct. 31, 2018
Stockholders' equity:
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, outstanding	0	0
Preferred stock, issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	50,000,000	50,000,000
Common stock, issued	23,397,707	23,373,817
Common stock, outstanding	22,995,881	23,058,413
Treasury stock	401,826	315,404

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Income Statement [Abstract]
REVENUES	$ 19,506,911	$ 17,797,425
COST OF SERVICES	13,330,295	12,110,618
GROSS PROFIT	6,176,616	5,686,807
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	4,479,933	4,598,545
INCOME FROM CONTINUING OPERATIONS	1,696,683	1,088,262
OTHER INCOME, NET OF FOREIGN EXCHANGE SETTLEMENT	526,567	435,527
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	2,223,250	1,523,789
INCOME TAX AND US TAX REFORM TRANSITION TAX EXPENSE	135,994	2,785,525
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	2,087,256	(1,261,736)
DISCONTINUED OPERATIONS, NET OF TAX:
NET LOSS FROM OPERATIONS THROUGH DISPOSAL	0	(170,774)
GAIN ON DISPOSAL	0	2,712,244
NET INCOME FROM DISCONTINUED OPERATIONS	0	2,541,470
NET INCOME	$ 2,087,256	$ 1,279,734
BASIC AND DILUTED EARNINGS (LOSSES) PER COMMON SHARE (Continuing operations)	$ 0.09	$ (0.055)
BASIC AND DILIUTED EARNINGS PER COMMON SHARE (Discontinued operations)	$ 0	$ 0.11
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	23,054,653	23,080,995
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED	23,113,857	23,096,252

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 2,087,256	$ 1,279,734
Foreign currency translation gain (loss):
Net unrealized gan (loss)	(25,508)	73,538
Net unrealized gain Intercompany balances foreign exchange settlement, included in net income	65,636	(121,137)
Net unrealized gain (loss) on available-for-sale securities	(4,475)	17,875
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	35,653	(29,724)
COMPREHENSIVE INCOME	$ 2,122,909	$ 1,250,010

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock	Preferred Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total
Beginning Balance - Shares at Oct. 31, 2017	23,333,083	0
Beginning Balance - Amount at Oct. 31, 2017	$ 2,333	$ 0	$ 1,295,314	$ 19,560,131	$ 137,671	$ (248,163)	$ 20,747,286
Stock-based compensation			51,642				51,642
Issuance Of Common Stock Pursuant To The Cashless Exercise Of Stock Options, Shares	40,734
Issuance Of Common Stock Pursuant To The Cashless Exercise Of Stock Options, Amount	$ 4			(4)
Purchase of treasury stock						(56,525)	(56,525)
NET INCOME				1,279,734			1,279,734
Other Comprehensive Income (Loss)					(29,724)		(29,724)
CASH DIVIDEND ($0.075 PER COMMON SHARE AT RECORD DATE)				(1,728,750)			(1,728,750)
Ending Balance, Shares at Oct. 31, 2018	23,373,817	0
Ending Balance, Amount at Oct. 31, 2018	$ 2,337	$ 0	1,346,956	19,111,111	107,947	(304,688)	20,263,663
Stock-based compensation			34,120				34,120
Issuance Of Common Stock Pursuant To The Cashless Exercise Of Stock Options, Shares	23,890
Issuance Of Common Stock Pursuant To The Cashless Exercise Of Stock Options, Amount	$ 3			(3)			0
Purchase of treasury stock						(87,891)	(87,891)
NET INCOME				2,087,256			2,087,256
Other Comprehensive Income (Loss)					35,653		35,653
CASH DIVIDEND ($0.075 PER COMMON SHARE AT RECORD DATE)				(1,725,295)			(1,725,295)
Ending Balance, Shares at Oct. 31, 2019	23,397,707
Ending Balance, Amount at Oct. 31, 2019	$ 2,340	$ 0	$ 1,381,076	$ 19,473,069	$ 143,600	$ (392,579)	$ 20,607,506

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - shares	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stocks	86,422	71,952

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,087,256	$ 1,279,734
Add: net loss from discontinued operations	0	(2,541,470)
Net income (loss) from continuing operations	2,087,256	(1,261,736)
Adjustments to reconcile net income (loss) from continuing operations:
Gain on disposition of property and equipment	(47,392)	(6,000)
Stock-based compensation	34,120	51,642
Depreciation and amortization	99,095	74,601
Other-than-temporary impairment on available-for-sale securities	(4,475)	0
(Increase) decrease in accounts receivable	(3,593,069)	1,158,809
Decrease in other assets	47,676	64,815
Increase (decrease) in liabilities	(830,950)	3,636,553
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(2,207,739)	3,718,684
CASH FLOWS FROM INVESTING ACTIVITIES:
Disposal of marketable securities	44,475	0
Acquisition of property and equipment	(57,379)	(122,009)
Proceeds from disposition of property and equipment	99,038	6,000
Collection from promissory note receivable	1,750,000	0
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	1,836,134	(116,009)
CASH FLOW FROM FINANCING ACTIVITIES:
Repurchase of common stock	(87,891)	(56,525)
Payments on obligations under capital lease	(67,686)	(13,949)
Cash dividends paid to shareholders	0	(1,728,750)
NET CASH USED IN FINANCING ACTIVITIES	(155,577)	(1,799,224)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(12,564)	(93,805)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS	(539,746)	1,709,646
DISCONTINUED OPERATIONS:
Net cash provided by (used in) operating activities	0	728,726
Net cash provided by (used in) investing activities	0	2,000,000
Net cash used in financing activities	0	0
CASH PROVIDED BY (USED IN) DISCONTINUED OPERATIONS	0	2,728,726
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(539,746)	4,438,372
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR	16,029,920	11,591,548
CASH AND CASH EQUIVALENTS - END OF YEAR	15,490,174	16,029,920
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Income taxes	326,898	0
Interest	4,062	1,498
SUPPLEMENTARY SCHEDULES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Promissory note receivable received from sale of assets from discontinued operations	0	3,000,000
Property and equipment with accumulated depreciation of $86,773 and $32,795 disposed during the years ended October 31, 2019 and 2018, respectively	138,419	32,795
Obligations under capital lease incurred for the acquisition of a vehicle	86,000	0
Income tax withheld by clients to be used as a credit in the Company's income tax returns	36,681	16,691
Conversion of cashless exercise of options to shares of common stock	$ 3	$ 4

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Statement of Cash Flows [Abstract]
Accumulated depreciation on property and equipment disposed during the years ended October 31, 2019 and 2018, respectively	$ 86,773	$ 32,795

A. ORGANIZATION AND SUMMARY OF

A. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Oct. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
A. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	ORGANIZATION Pharma-Bio Serv, Inc. (“Pharma-Bio”) is a Delaware corporation organized on January 14, 2004. Pharma-Bio is the parent company of Pharma-Bio Serv PR, Inc. (“Pharma-PR”), Pharma Serv, Inc. (“Pharma-Serv”), and Scienza Labs, Inc. (“Scienza Labs”), each a Puerto Rico corporation, Pharma-Bio Serv US, Inc. (“Pharma-US”), a Delaware corporation, Pharma-Bio Serv Validation & Compliance Limited (“Pharma-IR”), an Irish corporation currently inactive, Pharma-Bio Serv SL (“Pharma-Spain”), a Spanish limited liability company, and Pharma-Bio Serv Brasil Servicos de Consultoria Ltda. (“Pharma-Brazil”), a Brazilian limited liability company. Pharma-Bio, Pharma-PR, Pharma-Serv, Scienza Labs, Pharma-US, Pharma-IR, Pharma-Spain and Pharma-Brazil are collectively referred to as the “Company.” The Company operates in Puerto Rico, the United States, Ireland, Spain and Brazil under the name of Pharma-Bio Serv and is engaged in providing technical compliance consulting service, and until September 17, 2018 microbiological and chemical laboratory testing (the “Lab”). On September 17, 2018 (the “Sales Closing Date”), the Company sold substantially all of its Lab business assets (the “Laboratory Assets”). See Note B for further information. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation The accompanying consolidated financial statements include the accounts of the Company and all of its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Segments On the Sales Closing Date, the Company sold substantially all of its Laboratory Assets. As a result of the sale, the Company currently operates in three reportable business segments: (i) Puerto Rico technical compliance consulting, (ii) United States technical compliance consulting, and (iii) Europe technical compliance consulting. Accordingly, the accompanying consolidated financial statements are presented to show these three reportable segments as continuing operations, while the Lab is presented as a discontinued operation. See Note B for further information. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from these estimates. Fair Value of Financial Instruments Accounting standards have established a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting standards have established three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets and liabilities. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The carrying value of the Company's financial instruments (excluding marketable securities and obligations under capital leases): cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, are considered reasonable estimates of fair value due to their liquidity or short-term nature. Management believes, based on current rates, that the fair value of its obligations under capital leases approximates the carrying amount. Revenue Recognition In May 2014, the Financial Accounting Standards Board (FASB) issued a new accounting standard that amends the guidance for the recognition of revenue from contracts with customers to transfer goods and services. The FASB subsequently issued additional, clarifying standards to address issues arising from implementation of the new revenue recognition standard. The new revenue recognition standard and clarifying standards require an entity to recognize revenue when control of promised goods or services is transferred to the customer at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted this new standard as of November 1, 2018, by applying the modified-retrospective method to those contracts that were not completed as of that date. The results for reporting periods beginning after November 1, 2018, are presented in accordance with the new standard, although comparative information has not been restated and continues to be reported under the accounting standards and policies in effect for those periods. The adoption of this new standard had an immaterial impact on our reported total revenues and operating income as compared to what reported amounts would have been under the prior standard. Revenue is primarily derived from: (1) time and materials contracts (representing approximately 99% of total revenues), which is recognized by applying the proportional performance model, whereby revenue is recognized as performance occurs, and (2) short-term fixed-fee contracts or "not to exceed" contracts (representing approximately 1% of total revenues), which revenue is recognized similarly, except that certain milestones also have to be reached before revenue is recognized. If the Company determines that a contract will result in a loss, the Company recognizes the estimated loss in the period in which such determination is made. Cash Equivalents For purposes of the consolidated statements of cash flows, cash equivalents include investments in money market obligation’s trusts that are registered under the U.S. Investment Company Act of 1940 and liquid investments with original maturities of three months or less. Accounts Receivable Accounts receivable are recorded at their estimated realizable value. Accounts are deemed past due when payment has not been received within the stated time period. The Company's policy is to review individual past due amounts periodically and write off amounts for which all collection efforts are deemed to have been exhausted. Due to the nature of the Company’s customers, bad debts are mainly accounted for using the direct write-off method whereby an expense is recognized only when a specific account is determined to be uncollectible. The effect of using this method approximates that of the allowance method. Income Taxes The Company follows an asset and liability approach method of accounting for income taxes. This method measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts on the financial statements. The resulting deferred tax assets or liabilities are adjusted to reflect changes in tax laws as they occur. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. The Company follows guidance from the Financial Accounting Standards Board (“FASB”) related to Accounting for Uncertainty in Income Taxes, Property and Equipment Owned property and equipment, and leasehold improvements are stated at cost. Vehicles under capital leases are stated at the lower of fair market value or net present value of the minimum lease payments at the inception of the leases. Depreciation and amortization of owned assets are provided for, when placed in service, in amount sufficient to relate the cost of depreciable assets to operations over their estimated service lives, using straight-line basis. Assets under capital leases and leasehold improvements are amortized, over the shorter of the estimated useful lives of the assets or the lease term, including renewals that have been determined to be reasonably assured. Major renewals and betterments that extend the life of the assets are capitalized, while expenditures for repairs and maintenance are expensed when incurred. The Company evaluates for impairment its long-lived assets to be held and used, and long-lived assets to be disposed of, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Stock-based Compensation Stock-based compensation expense is recognized in the consolidated financial statements based on the fair value of the awards granted. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which generally represents the vesting period, and includes an estimate of awards that will be forfeited. The Company calculates the fair value of stock options using the Black-Scholes option-pricing model at grant date, while for restricted stock units the fair market value of the units is determined by Company’s share market value at grant date. Excess tax benefits related to stock-based compensation are reflected as cash flows from financing activities rather than cash flows from operating activities. However, the Company has not recognized such cash flow from financing activities since there has been no tax benefit related to the stock-based compensation. Earnings (Loss) Per Share of Common Stock Basic earnings (loss) per share of common stock is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per share includes the dilution of common stock equivalents. The diluted weighted average shares of common stock outstanding were calculated using the treasury stock method for the respective periods. Foreign Operations The functional currency of the Company’s foreign subsidiaries is its local currency. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period. The cumulative translation effect for subsidiaries using a functional currency other than the U.S. dollar is included as a cumulative translation adjustment in stockholders’ equity and as a component of comprehensive income. The Company’s intercompany accounts are typically denominated in the functional currency of the foreign subsidiary. Gains and losses resulting from the remeasurement of intercompany receivables that the Company considers to be of a long-term investment nature are recorded as a cumulative translation adjustment in stockholders’ equity and as a component of comprehensive income, while gains and losses resulting from the remeasurement of intercompany receivables from those international subsidiaries for which the Company anticipates settlement in the foreseeable future are recorded in the consolidated statements of operations. Subsequent Events The Company has evaluated subsequent events to the date of the audit report as of January 29, 2020. The Company has determined that there are no events occurring in this period that required disclosure or adjustment, except as disclosed in the accompanying consolidated financial statements. Reclassifications Certain reclassifications have been made to the October 31, 2018 consolidated financial statements to conform them to the October 31, 2019 consolidated financial statements presentation. Such reclassifications do not have an effect on net income as previously reported. Recent Accounting Pronouncements In February 2016, the FASB issued a new accounting standard that amends the guidance for the accounting and disclosure of leases. This new standard requires that lessees recognize the assets and liabilities that arise from leases on the balance sheet and disclose qualitative and quantitative information about their leasing arrangements. The new standard is effective for interim and annual periods beginning on January 1, 2019 and may be adopted earlier. This standard is effective for the Company’s first quarter of fiscal year 2020. The Company does not expect that this standard will have a material impact to its Consolidated Statements of Operations but expects that this standard will have a material impact on the assets and liabilities on its Consolidated Balance Sheets upon adoption.

B. LABORATORY ASSETS SALE - DIS

B. LABORATORY ASSETS SALE - DISCONTINUED OPERATIONS	12 Months Ended
	Oct. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
B. LABORATORY ASSETS SALE - DISCONTINUED OPERATIONS	On September 17, 2018, the Company completed the sale of its Laboratory Assets for $5 million. The gain related to this transaction of approximately $2.7 million, net of a preferential income tax rate, is included in the consolidated financial statements as a component of discontinued operations for the year ended October 31, 2018.

C. PROMISSORY NOTE

C. PROMISSORY NOTE	12 Months Ended
	Oct. 31, 2019
Debt Disclosure [Abstract]
C. PROMISSORY NOTE	Upon the completion of the Laboratory Assets sale, the Company received, as partial payment, a $3 million Promissory Note from the purchaser. The Promissory Note is composed of two tranches; (i) Tranche A for $2 million and secured with lab equipment and (ii) Tranche B for $1 million which is unsecured. The interest rate accrual is 3% for Tranche A and 5% for Tranche B. As of October 31, 2019, pursuant to the terms of the Promissory Note, the Company has collected $1,750,000. The Promissory Note final installment of $1,250,000 from Tranche A is due September 17, 2020.

D. PROPERTY AND EQUIPMENT

D. PROPERTY AND EQUIPMENT	12 Months Ended
	Oct. 31, 2019
Property, Plant and Equipment [Abstract]
D. PROPERTY AND EQUIPMENT	The balance of property and equipment at October 31, 2019 and 2018 consisted of the following: October 31, Useful life (years) 2019 2018 Vehicles 5 $ 253,579 $ 269,257 Leasehold improvements 5-8 84,445 84,485 Computers 3 330,250 307,579 Equipment 3-7 130,110 132,089 Furniture and fixtures 10 1,549 1,563 Total 799,933 794,973 Less: Accumulated depreciation and amortization (509,275 ) (496,953 ) Property and equipment, net $ 290,658 $ 298,020

E. INCOME TAXES

E. INCOME TAXES	12 Months Ended
	Oct. 31, 2019
Income Tax Disclosure [Abstract]
E. INCOME TAXES	On December 22, 2017, Public Law 115-97, commonly known as the Tax Cuts and Jobs Act of 2017 (the “Tax Reform”), was enacted. The Tax Reform is applicable to the Company commencing with its fiscal year 2018. The Tax Reform imposed a mandatory one-time transition tax (the “Transition Tax”) over foreign subsidiaries undistributed earnings and profits (“E&Ps”) earned prior to a date set by the statute. Based on the Company’s E&Ps, the Transition Tax is estimated to be approximately $2.7 million. The Transition Tax liability may be paid over a period of eight years starting with the Company’s fiscal year 2019. In the past, most of these E&Ps’ were not repatriated since such E&Ps’ were considered to be reinvested indefinitely in the foreign location, therefore no US tax liability was incurred unless the E&Ps were repatriated as a dividend. After December 31, 2017, the Tax Reform has established a 100% tax exemption on the foreign-source portion of dividends received attributable to E&Ps, with certain limitations. In June 2011, Pharma-Bio, Pharma-PR and Pharma-Serv obtained a Grant of Industrial Tax Exemption pursuant to the terms and conditions set forth in Act No. 73 of May 28, 2008 (“the Grant”) issued by the Puerto Rico Industrial Development Company (“PRIDCO”). The Grant was effective as of November 1, 2009 and covers a fifteen-year period. The Grant provides relief on various Puerto Rico taxes, including income tax, with certain limitations, for most of the activities carried on within Puerto Rico, including those that are for services to parties located outside of Puerto Rico. Industrial Development Income (“IDI”) covered under the Grant are subject to a fixed income tax rate of 4%. In addition, IDI earnings distributions accumulated since November 1, 2009 are totally exempt from Puerto Rico earnings distribution tax. For the year ended October 31, 2019 and 2018, the favorable consolidated net income aggregate dollar effect of the Grant was approximately $952,000 and $652,000, or $0.041 and $0.028 per basic weighted average share, respectively. Puerto Rico operations not covered in the exempt activities of the Grant are subject to Puerto Rico income tax at a maximum tax rate of 39% as provided by the 1994 Puerto Rico Internal Revenue Code, as amended. The operations carried out in the United States by the Company’s subsidiary was taxed in the United States at a maximum regular federal income tax rate of 35%. Among the Tax Reform provisions, effective with the Company’s fiscal year ending on October 31, 2018, is a provision whereby the regular federal income tax rate is reduced to a 23.5% blended rate and 21% thereafter. The reconciliation between the United States federal statutory rate and our effective tax rate applicable to continuing operations for the years ended October 31, 2019, and 2018 is as follows: October 31, 2019 2018 United States federal statutory rate 21.0 % 23.5 % US Tax Reform Transition Tax Expense - % 177.2 % Puerto Rico, including foreign loss positionsfor which the resulting deferred asset has been allowed, net (15.0 )% (16.5 )% Other, including US loss positions for which the resulting deferred tax asset has been allowed, net 0.1 % (1.4 )% Effective tax rate 6.1 % 182.8 % At October 31, 2019, Pharma-Spain, Pharma-IR and Pharma-Bio/Pharma-US have unused operating losses of approximately $1,501,000, $127,000 and $2,774,000, respectively. These net operating losses are available to offset future taxable income until October 31, 2028, 2029, 2030, 2031, 2032, 2033 and 2034 for the aggregate amounts of $178,000, $332,000, $266,000, $181,000, $40,000, 273,000 and $231,000, respectively for Pharma-Spain; indefinitely for Pharma-IR; until October 31, 2035, 2036, 2037, 2038 and 2039 for the aggregate amounts of $292,000, $834,000, $345,000, 1,224,000 and $79,000, respectively for Pharma-Bio/Pharma-US. After considering various timing differences for income tax purposes, these unused operating losses result in a potential deferred tax asset for Pharma-Spain, Pharma-IR and Pharma-Bio of approximately $300,000, $16,000, and $582,000, respectively. However, an allowance has been provided covering the total amount of such balance since it is uncertain whether the net operating losses can be used to offset future taxable income. Realization of future tax benefits related to a deferred tax asset is dependent on many factors, including the Company’s ability to generate taxable income. Accordingly, the income tax benefit will be recognized when realization is determined to be more probable than not. The Company files income tax returns in the United States (federal and various states jurisdictions), Puerto Rico, Ireland, Spain and Brazil. The 2015 (2014 for Puerto Rico) through 2018 tax years are open and may be subject to potential examination in one or more jurisdictions. Currently, the Company is not subject to a federal, state, Puerto Rico or foreign income tax examination.

F. COMMITMENTS AND CONTINGENCIE

F. COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Oct. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
F. COMMITMENTS AND CONTINGENCIES	Capitalized lease obligations The following is a schedule, by year, of future minimum lease payments under the capitalized leases together with the present value of the net minimum lease payments at October 31, 2019: Twelve months ending October 31, Amount 2020 $ 14,908 2021 14,908 2022 14,908 2023 14,908 2024 31,181 Total future minimum lease payments 90,813 Less: Amount of imputed interest (12,704 ) Present value of future minimum lease payments 78,109 Current portion of obligation under capital leases (11,030 ) Long-term portion $ 67,079 Operating facilities In July 2016, with effective date January 1st, 2016, the Company renegotiated a lease agreement with an affiliate of our Chairman of the Board, for the headquarters and laboratory testing facilities in Dorado, Puerto Rico. The renegotiated lease incorporates additional space for the laboratory testing facility expansion. The lease agreement is for a five-year term, with a renewal option of five years, and monthly rental payments of $30,316 for the term of the lease agreement and renewal option. The lease agreement also requires the payment of utilities, property taxes, insurance and expenses incurred by the affiliate in connection with the maintenance of common areas. As part of the Laboratory Assets transaction (see Note B), this lease was amended to (i) allow the Company to sublease to the Laboratory Assets purchaser (the “Subtenant”) the laboratory leased space area, and (ii) if Subtenant defaults under the Sublease or terminates the Sublease, the Company shall have the option to either (a) terminate the Sublease and re-occupy the Subleased Premises pursuant to the terms of the Lease, or (b) modify the Lease to terminate the Lease for the portion of the Premises that is the Subleased Premises only, without penalty. On January 1, 2019, a second amendment to the lease agreement was made to add a small storage area, increasing the monthly rental payments by $1,088. Simultaneously with the Laboratory Assets sale closing transaction the Company and Subtenant entered into a sublease agreement (the “Sublease”) with an initial term commencing at Sales Closing Date through December 31, 2019. The Sublease contains a one-year renewal option, followed by a second renewal option of five years. Provided a six months’ notice of termination, Subtenant may terminate without penalty the Sublease within the term of the second renewal option of five years. The Sublease calls for monthly rental payments of $17,950 each, and a 5% annual rent increase beginning on the second lease year and thereafter until the expiration of the Sublease initial term or the first renewal option. No rent increase will apply to the five-year term renewal option if exercised. The Sublease requires the payment of utilities, property taxes, insurance and common area expenses incurred and/or allocated to Subtenant. The Company maintains an office facility in Madrid, Spain. The facility is under a month-to-month lease with monthly payments of approximately $1,000. The Company leases certain apartments as dwellings for employees. The leases are under short-term lease agreements and usually are cancelable upon 30-day notification. Minimum future rental payments under non-cancelable operating leases having remaining terms in excess of one year as of October 31, 2019 are as follows: Amount 2020 $ 376,850 2021 62,808 Total minimum future rental payments $ 439,658 Total minimum future rental payments have not been reduced by approximately $224,375 of sublease rentals to be received in the future under non-cancelable subleases. Rent expense for the years ended October 31, 2019 and 2018 was approximately $386,000 and $389,000, respectively. Contingencies -

G. WARRANTS

G. WARRANTS	12 Months Ended
	Oct. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
G. WARRANTS	On December 2014, the Company entered into an agreement with a firm for providing (i) business development and (ii) mergers and acquisition services to the Company. The Company warrants for the purchase of 1,000,000 common shares issued to this firm for its services expired on December 1, 2019.

H. EQUITY TRANSACTIONS

H. EQUITY TRANSACTIONS	12 Months Ended
	Oct. 31, 2019
Stockholders' equity:
H. EQUITY TRANSACTIONS	On June 13, 2014, the Board of Directors of the Company authorized the Company to repurchase up to two million shares of its outstanding common stock. The timing, manner, price and amount of any repurchases will be at the discretion of the Company, subject to the requirements of the Securities Exchange Act of 1934, as amended, and related rules. The program does not oblige the Company to repurchase any shares and it may be modified, suspended or terminated at any time and for any reason. Under the program no shares will be repurchased directly from directors or officers of the Company. As of October 31, 2019 and 2018, a total of 338,854 and 315,404 shares of the Company’s common stock were purchased for an aggregate amount of $329,607 and $304,688, respectively. Also, on November 26, 2018, the Company repurchased 62,972 shares of common stock, outside of the Repurchase Program, from the Company’s Chief Executive Officer at $1.00 per share. These shares were repurchased at a discount to market to provide for an orderly disposition of the shares. On October 23, 2019 and October 3, 2018, the Board of Directors of the Company declared cash dividends of $0.075 per common share for shareholders of record as of the close of business on November 4, 2019 and October 15, 2018, respectively. Accordingly, aggregate dividend payments of $1,725,295 and $1,728,750 were paid on November 15, 2019 and October 26, 2018, respectively.

I. EARNINGS (LOSSES) PER SHARE

I. EARNINGS (LOSSES) PER SHARE	12 Months Ended
	Oct. 31, 2019
Earnings Per Share [Abstract]
I. EARNINGS (LOSSES) PER SHARE	The computation of basic earnings and losses per share is based on the weighted-average number of our common shares outstanding. The computation of diluted earnings and losses per share is based on the weighted-average number of our common shares outstanding and dilutive potential common shares, which include principally shares that may be issued under: warrants, our stock option and restricted stock unit awards, determined using the treasury stock method. The following data show the amounts used in the calculations of basic and diluted earnings per share. Years ended October 31, 2019 2018 Net income (loss) available to common equity holders - used to compute basic and diluted earnings (losses) per share (continuing operations) $ 2,087,256 $ (1,261,736 ) Net income available to common equity holders - used to compute basic and diluted earnings (losses) per share (discontinued operations) $ - $ 2,541,470 Weighted average number of common shares - used to compute basic earnings (losses) per share 23,054,653 23,080,995 Effect of warrants to purchase common stock - - Effect of restricted stock units to issue common stock - - Effect of options to purchase common stock 59,204 15,257 Weighted average number of shares - used to compute diluted earnings (losses) per share 23,113,857 23,096,252 For the year ended October 31, 2019, warrants and options for the purchase of 1,000,000 and 80,000 shares of common stock, respectively, were not included in computing earnings per share because their effect were antidilutive. Also, for the year ended on October 31, 2018, warrants and options for the purchase of 1,000,000 and 419,600 shares of common stock, respectively, were not included in computing diluted losses per share from continuing operations because their effect were also antidilutive.

J. STOCK OPTIONS, RESTRCTED STO

J. STOCK OPTIONS, RESTRCTED STOCK UNITS AND STOCK BASED COMPENSATION	12 Months Ended
	Oct. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
J. STOCK OPTIONS, RESTRCTED STOCK UNITS AND STOCK BASED COMPENSATION	The Company has two incentive plans, the 2005 Long-Term Incentive Plan (the “2005 Plan”) and the 2014 Long-Term Incentive Plan (the “2014 Plan”, together the “Plans”). The 2005 Plan and the 2014 Plan cover 2,500,000 and 2,300,000 shares of the Company’s common stock, respectively. Both Plans provide for the grant of incentive and non-qualified options, stock grants, stock appreciation rights and other equity-based incentives to employees, including officers, consultants and directors for a period of ten years. The 2005 Plan expired in October 2015, accordingly no further grants have been issued under this plan. The Plans are to be administered by a committee of independent directors. In the absence of a committee, the plans are administered by the board of directors. Options intended to be incentive stock options must be granted at an exercise price per share which is not less than the fair market value of the common stock on the date of grant and may have a term which is not longer than ten years. If the option holder holds at least 10% of the Company’s common stock, the exercise price must be at least 110% of the fair market value on the date of grant and the term of the option cannot exceed five years. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which generally represents the vesting period, and includes an estimate of awards that will be forfeited. The fair value of stock-based awards to employees is calculated using the Black-Scholes option pricing model. The Black-Scholes model requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. The expected term of the option has been estimated using the “simplified” method as provided in the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 107, for plans with insufficient exercise experience. Under this method, the expected term equals the arithmetic average of the vesting term and the contractual term of the option. The risk-free rate is based on the U.S. Treasury rates in effect during the corresponding period of grant. The expected volatility is based on the historical volatility of the Company’s stock price. These factors could change in the future, which would affect fair values of stock options granted in such future periods, and could cause volatility in the total amount of the stock-based compensation expense reported in future periods. The 2005 Plan stock options activity and status for the years ended October 31, 2019 and 2018 was as follows: Year ended October 31, 2019 2018 Weighted- Weighted- Number of Average Option Number of Average Option Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 160,000 $ 1.6650 200,000 $ 1.4820 Granted - $ - - $ - Exercised - $ - - $ - Expired and/or forfeited (80,000 ) $ 2.0500 (40,000 ) $ 0.7500 Total outstanding at end of year 80,000 $ 1.2800 160,000 $ 1.6650 Outstanding exercisable stock options at end of year 80,000 $ 1.2800 160,000 $ 1.6650 October 31, 2019 October 31, 2018 Weighted average remaining years in contractual life for: Total outstanding options 0.2 years 0.7 years Outstanding exercisable options 0.2 years 0.7 years Shares of common stock available for issuance pursuant to future stock option grants - - The 2014 Plan stock options activity and status for the years ended October 31, 2019 and 2018 was as follows: Year ended October 31, 2019 2018 Weighted- Weighted- Number of Average Option Number of Average Option Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 329,600 $ 0.8238 460,000 $ 0.8887 Granted 180,000 $ 0.9333 80,000 $ 0.5200 Exercised (99,600) $ 0.8666 (210,400) $ 0.8502 Expired and/or forfeited - $ - - $ - Total outstanding at end of year 410,000 $ 0.8615 329,600 $ 0.8238 Outstanding exercisable stock options at end of year 270,000 $ 0.8341 190,000 $ 0.8653 October 31, 2019 October 31, 2018 Weighted average remaining years in contractual life for: Total outstanding options 3.2 years 2.8 years Outstanding exercisable options 2.5 years 2.9 years Shares of common stock available for issuance pursuant to future stock option grants 1,580,000 1,760,000 The following weighted average assumptions were used to estimate the fair value of stock options granted under the 2014 Plan for the years ended October 31, 2019 and 2018: Year ended October 31, 2019 2018 Expected dividend yield 0.0 % 0.0 % Expected stock price volatility 78.9 % 73.6 % Risk free interest rate 1.9 % 2.0 % Expected life of options 3.4 years 3.2 years Weighted average fair value of options granted $ 0.5076 $ 0.2624 As of October 31, 2019, estimated stock based compensation expense to be recognized in future periods for granted nonvested stock options is attributable to stock options granted under the 2014 Plan. The nonvested stock options compensation expense in the amount of $55,211 will be recognized in a weighted average period of approximately 1.6 years. As of October 31, 2019 and 2018, the aggregate intrinsic value of options outstanding under the 2014 Plan were approximately $25,200 and $74,570, respectively. As of October 31, 2019 and 2018, the exercise price for all options outstanding under the 2005 Plan were above the Company’s stock market value. The aggregate intrinsic value represents the difference between the Company’s stock price at year end and the exercise price, multiplied by the number of in-the money options had all option holders exercised their options. This amount changes based on the fair market value of the Company’s stock. The following table presents the total stock-based compensation included in the Company’s consolidated statement of income and the effect in earnings per share: Year ended October 31, 2019 2018 Stock-based compensation expense: Cost of services $ - $ - Selling, general and administrative 34,120 51,642 Stock-based compensation before tax 34,120 51,642 Income tax benefit - - Net stock-based compensation expense $ 34,120 $ 51,642 Effect on earnings per share: Basic earnings per share $ (0.001 ) $ (0.002 ) Diluted earnings per share $ (0.001 ) $ (0.002 )

K. CONCENTRATIONS OF RISKS

K. CONCENTRATIONS OF RISKS	12 Months Ended
	Oct. 31, 2019
Risks and Uncertainties [Abstract]
K. CONCENTRATIONS OF RISKS	Cash and cash equivalents The Company domestic cash and cash equivalents consist of cash deposits in FDIC insured banks (substantially covered by FDIC insurance by the spread of deposits in multiple FDIC insured banks), a money market obligations trust registered under the US Investment Company Act of 1940, as amended, and U.S. Treasury securities with maturities of three months or less. In the foreign markets we serve, we also maintain cash deposits in foreign banks, which tend to be not significant and have no specific insurance. No losses have been experienced or are expected on these accounts. Accounts receivable and revenues Management deems all its accounts receivable to be fully collectible, and, as such, does not maintain any allowances for uncollectible receivables. The Company's revenues, and the related receivables, are concentrated in the pharmaceutical industry in Puerto Rico, the United States of America and Europe. Although a few customers represent a significant source of revenue, the Company’s functions are not a continuous process, accordingly, the client base for which the services are typically rendered, on a project-by-project basis, changes regularly. The Company provided a substantial portion of its services to five customers, who accounted for 10% or more of its revenues in either of the years ended October 31, 2019 or 2018. During the year ended October 31, 2019, revenues from these customers were 25.3%, 10.4%, 11.7%, 10.2% and 5.6%, or a total of 63.2%, as compared to the same period last year for 9.2%, 2.7%, 13.9%, 7.5%, and 15.7%, or a total of 49.0%, respectively. At October 31, 2019 and 2018, amounts due from these customers represented 82.0% and 52.7% of total accounts receivable balance, respectively. The major customer information in the above paragraph is based on revenues earned from said customers at the segment level because in management’s opinion contracts by segments are totally independent of each other, and therefore such information is more meaningful to the reader. However, at the global level five groups of affiliated companies accounted for 10% or more of our revenues in either October 31, 2019 or 2018. During the year ended October 31, 2019, aggregate revenues from these global groups of affiliated companies were 25.3%, 13.7%, 11.7%, 10.2% and 5.6%, or a total of 66.5%, as compared to the same period last year for 9.2%, 5.4%, 13.9%, 7.5%, and 15.7%, or a total of 51.7%, respectively. At October 31, 2019 and 2018, amounts due from these global groups of affiliated companies represented 83.4% and 55.5% of total accounts receivable balance, respectively. As of October 31, 2019, one of the Company’s customers (representing 25.3% of revenues during the year ended October 31, 2019) owes the Company approximately $6.25 million (including $1.25 million from a Promissory Note), which represents approximately 27.5% of the Company’s total working capital. We are providing multiple services to this customer related to their construction of a manufacturing facility in Puerto Rico. From this facility the customer will do the manufacturing and distribution of an existing product and an investigational new drug to be marketed to worldwide markets, once approved by regulators. A significant portion of the customer’s funding comes from different financing sourcing. Management estimates that collectability of the account is reasonably assured, accordingly, no provision for losses, if any, have been recorded in the financial statements. Subsequent to October 31, 2019, the Company collected $2 million from this customer.

L. OTHER INCOME

L. OTHER INCOME	12 Months Ended
	Oct. 31, 2019
Component of Operating Income [Abstract]
L. OTHER INCOME	During September 2017, the Company’s Puerto Rico operations were affected by hurricanes which severely impacted Puerto Rico (“Hurricanes”). The Hurricanes related insurance claim for business interruption losses and additional expenses incurred by the Company until electrical power and other basic utilities were restored was settled with the insurance carrier on April 2019 for the aggregate amount of approximately $199,000. In July 2018, the insurance claim for property damages resulting from the Hurricanes was settled with the insurance carrier for the aggregate amount of approximately $148,000. Based on current accounting guidance, the insurance proceeds were recognized upon collection, as a gain contingency against other income in the accompanying consolidated financial statements for the applicable period. Administered and disbursed by the Puerto Rico Treasury Department, the United States federal government granted a salaries subsidy (the “Salaries Subsidy”) to Puerto Rico employers which retained employees for the period since the Hurricanes until the sooner of (i) when the employer operations were fully able to operate or (ii) December 31, 2017. In July 2018, the Company’s Puerto Rico subsidiaries applied and collected from the Salaries Subsidy an aggregate amount of approximately $220,000. This Salaries Subsidy was recorded against other income in the accompanying condensed financial statements.

M. SEGMENT DISCLOSURES

M. SEGMENT DISCLOSURES	12 Months Ended
	Oct. 31, 2019
Segment Reporting [Abstract]
M. SEGMENT DISCLOSURES	The Company’s segments are based on the organizational structure for which financial results are regularly evaluated by the Company’s chief operating decision maker to determine resource allocation and assess performance. Each reportable segment is managed by its own management team and reports to executive management. The Company has three reportable segments: (i) Puerto Rico technical compliance consulting, (ii) United States technical compliance consulting, and (iii) Europe technical compliance consulting. These reportable segments provide services primarily to the pharmaceutical, chemical, medical device and biotechnology industries in their respective markets. The following table presents information about the reported revenue from services and earnings from operations of the Company for the years ended in October 31, 2019 and 2018. There is no intersegment revenue for the mentioned periods. Corporate expenses that support the operating units have been allocated to the segments. Asset information by reportable segment is not presented, since the Company does not produce such information internally, nor does it use such data to manage its business. Year ended October 31, 2019 2018 REVENUES: Puerto Rico consulting $ 16,797,783 $ 14,438,772 United States consulting 2,188,276 2,137,748 Europe consulting 315,329 1,153,740 Other segments¹ 205,523 67,165 Total consolidated revenues $ 19,506,911 $ 17,797,425 INCOME (LOSS) BEFORE TAXES: Puerto Rico consulting $ 1,906,513 $ 1,217,758 United States consulting (33,113 ) (119,140 ) Europe consulting (238,420 ) 11,194 Other segments¹ 588,270 413,977 Total consolidated income before taxes $ 2,223,250 $ 1,523,789 1 Other segments represent activities that fall below the reportable threshold and are carried out in Puerto Rico and Brazil. These activities include a Brazilian compliance consulting division and corporate headquarters, as applicable. Long lived assets (property and equipment) and related depreciation and amortization expense for the years ended October 31, 2019 and 2018, were concentrated in the corporate headquarters in Puerto Rico. Accordingly, depreciation expense and acquisition of property and equipment, as presented in the statements of cash flows are mainly related to the corporate headquarters.

N. RETIREMENT PLAN

N. RETIREMENT PLAN	12 Months Ended
	Oct. 31, 2019
Retirement Benefits [Abstract]
N. RETIREMENT PLAN	Pharma-PR and Pharma-US each have a separate qualified retirement plan in accordance with the applicable laws of the Commonwealth of Puerto Rico and the United States of America, for employees who meet certain age and service period requirements. The Company makes contributions to these plans as required by the provisions of the plan document. Following plan provisions, during the year ended October 31, 2018 the Company temporarily suspended contributions to the plan. During the year ended October 31, 2019 the Company resumed contributions and

O. RELATED PARTY TRANSACTIONS

O. RELATED PARTY TRANSACTIONS	12 Months Ended
	Oct. 31, 2019
Related Party Transactions [Abstract]
O. RELATED PARTY TRANSACTIONS	On December 31, 2013, the Company entered into a Consulting Agreement with a company (the “Consultant”) affiliated to our Chairman and our Chairman, effective as of January 1, 2014. Pursuant to the Consulting Agreement as amended, the Consultant will consult with the Board regarding the Company’s strategic initiatives, company services, management, operations and other matters as may be requested from time to time by the Board. The Chairman will receive a company automobile and such insurance as she was provided by the Company during her last year of employment with the Company. The Consulting Agreement also included standard provisions relating to non-competition, confidentiality, non-transferability and non-disparagement. On December 27, 2019, the Company extended the Consulting Agreement for an additional year to December 31, 2020 and maintained the past compensation structure. Pursuant to the Consulting Agreement the Company will compensate Consultant a monthly retainer of $33,700 during the Extension Term. In addition, in the event the Company achieves at least eighty percent (80%) of its budget for the year, Consultant shall receive a payment in the amount of $100,000 (the “Incentive Fee”). If the Company achieves one hundred percent (100%) or more of its budget for the year, the Incentive Fee shall be $120,000. As more fully disclosed in Note G to the consolidated financial statements, the Company leases its headquarters facilities in Dorado, Puerto Rico, from an affiliate of our Chairman of the Board.

P. SUBSEQUENT EVENTS

P. SUBSEQUENT EVENTS	12 Months Ended
	Oct. 31, 2019
Subsequent Events [Abstract]
P. SUBSEQUENT EVENTS	On December 27, 2019, the Company renewed the Consulting Agreement with a company affiliated to our Chairman and our Chairman, as more fully disclosed in Note O.

A. ORGANIZATION AND SUMMARY O_2

A. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Oct. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The accompanying consolidated financial statements include the accounts of the Company and all of its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Segments	On the Sales Closing Date, the Company sold substantially all of its Laboratory Assets. As a result of the sale, the Company currently operates in three reportable business segments: (i) Puerto Rico technical compliance consulting, (ii) United States technical compliance consulting, and (iii) Europe technical compliance consulting. Accordingly, the accompanying consolidated financial statements are presented to show these three reportable segments as continuing operations, while the Lab is presented as a discontinued operation. See Note B for further information.
Use of Estimates	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from these estimates.
Fair Value of Financial Instruments	Accounting standards have established a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting standards have established three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets and liabilities. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The carrying value of the Company's financial instruments (excluding marketable securities and obligations under capital leases): cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, are considered reasonable estimates of fair value due to their liquidity or short-term nature. Management believes, based on current rates, that the fair value of its obligations under capital leases approximates the carrying amount.
Revenue Recognition	In May 2014, the Financial Accounting Standards Board (FASB) issued a new accounting standard that amends the guidance for the recognition of revenue from contracts with customers to transfer goods and services. The FASB subsequently issued additional, clarifying standards to address issues arising from implementation of the new revenue recognition standard. The new revenue recognition standard and clarifying standards require an entity to recognize revenue when control of promised goods or services is transferred to the customer at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted this new standard as of November 1, 2018, by applying the modified-retrospective method to those contracts that were not completed as of that date. The results for reporting periods beginning after November 1, 2018, are presented in accordance with the new standard, although comparative information has not been restated and continues to be reported under the accounting standards and policies in effect for those periods. The adoption of this new standard had an immaterial impact on our reported total revenues and operating income as compared to what reported amounts would have been under the prior standard. Revenue is primarily derived from: (1) time and materials contracts (representing approximately 99% of total revenues), which is recognized by applying the proportional performance model, whereby revenue is recognized as performance occurs, and (2) short-term fixed-fee contracts or "not to exceed" contracts (representing approximately 1% of total revenues), which revenue is recognized similarly, except that certain milestones also have to be reached before revenue is recognized. If the Company determines that a contract will result in a loss, the Company recognizes the estimated loss in the period in which such determination is made.
Cash Equivalents	For purposes of the consolidated statements of cash flows, cash equivalents include investments in money market obligation’s trusts that are registered under the U.S. Investment Company Act of 1940 and liquid investments with original maturities of three months or less.
Accounts Receivable	Accounts receivable are recorded at their estimated realizable value. Accounts are deemed past due when payment has not been received within the stated time period. The Company's policy is to review individual past due amounts periodically and write off amounts for which all collection efforts are deemed to have been exhausted. Due to the nature of the Company’s customers, bad debts are mainly accounted for using the direct write-off method whereby an expense is recognized only when a specific account is determined to be uncollectible. The effect of using this method approximates that of the allowance method.
Income Taxes	The Company follows an asset and liability approach method of accounting for income taxes. This method measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts on the financial statements. The resulting deferred tax assets or liabilities are adjusted to reflect changes in tax laws as they occur. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. The Company follows guidance from the Financial Accounting Standards Board (“FASB”) related to Accounting for Uncertainty in Income Taxes,
Property and equipment	Owned property and equipment, and leasehold improvements are stated at cost. Vehicles under capital leases are stated at the lower of fair market value or net present value of the minimum lease payments at the inception of the leases. Depreciation and amortization of owned assets are provided for, when placed in service, in amount sufficient to relate the cost of depreciable assets to operations over their estimated service lives, using straight-line basis. Assets under capital leases and leasehold improvements are amortized, over the shorter of the estimated useful lives of the assets or the lease term, including renewals that have been determined to be reasonably assured. Major renewals and betterments that extend the life of the assets are capitalized, while expenditures for repairs and maintenance are expensed when incurred. The Company evaluates for impairment its long-lived assets to be held and used, and long-lived assets to be disposed of, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Stock-based Compensation	Stock-based compensation expense is recognized in the consolidated financial statements based on the fair value of the awards granted. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which generally represents the vesting period, and includes an estimate of awards that will be forfeited. The Company calculates the fair value of stock options using the Black-Scholes option-pricing model at grant date, while for restricted stock units the fair market value of the units is determined by Company’s share market value at grant date. Excess tax benefits related to stock-based compensation are reflected as cash flows from financing activities rather than cash flows from operating activities. However, the Company has not recognized such cash flow from financing activities since there has been no tax benefit related to the stock-based compensation.
Earnings (Loss) Per Share of Common Stock	Basic earnings (loss) per share of common stock is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per share includes the dilution of common stock equivalents. The diluted weighted average shares of common stock outstanding were calculated using the treasury stock method for the respective periods.
Foreign Operations	The functional currency of the Company’s foreign subsidiaries is its local currency. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period. The cumulative translation effect for subsidiaries using a functional currency other than the U.S. dollar is included as a cumulative translation adjustment in stockholders’ equity and as a component of comprehensive income. The Company’s intercompany accounts are typically denominated in the functional currency of the foreign subsidiary. Gains and losses resulting from the remeasurement of intercompany receivables that the Company considers to be of a long-term investment nature are recorded as a cumulative translation adjustment in stockholders’ equity and as a component of comprehensive income, while gains and losses resulting from the remeasurement of intercompany receivables from those international subsidiaries for which the Company anticipates settlement in the foreseeable future are recorded in the consolidated statements of operations.
Subsequent Events	The Company has evaluated subsequent events to the date of the audit report as of January 29, 2020. The Company has determined that there are no events occurring in this period that required disclosure or adjustment, except as disclosed in the accompanying consolidated financial statements.
Reclassifications	Certain reclassifications have been made to the October 31, 2018 consolidated financial statements to conform them to the October 31, 2019 consolidated financial statements presentation. Such reclassifications do not have an effect on net income as previously reported.
Recent Accounting Pronouncements	In February 2016, the FASB issued a new accounting standard that amends the guidance for the accounting and disclosure of leases. This new standard requires that lessees recognize the assets and liabilities that arise from leases on the balance sheet and disclose qualitative and quantitative information about their leasing arrangements. The new standard is effective for interim and annual periods beginning on January 1, 2019 and may be adopted earlier. This standard is effective for the Company’s first quarter of fiscal year 2020. The Company does not expect that this standard will have a material impact to its Consolidated Statements of Operations but expects that this standard will have a material impact on the assets and liabilities on its Consolidated Balance Sheets upon adoption.

D. PROPERTY AND EQUIPMENT (Tabl

D. PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Oct. 31, 2019
Property, Plant and Equipment [Abstract]
Summary of property and equipment	October 31, Useful life (years) 2019 2018 Vehicles 5 $ 253,579 $ 269,257 Leasehold improvements 5-8 84,445 84,485 Computers 3 330,250 307,579 Equipment 3-7 130,110 132,089 Furniture and fixtures 10 1,549 1,563 Total 799,933 794,973 Less: Accumulated depreciation and amortization (509,275 ) (496,953 ) Property and equipment, net $ 290,658 $ 298,020

E. INCOME TAXES (Tables)

E. INCOME TAXES (Tables)	12 Months Ended
	Oct. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of reconciliation between federal statutory rate and effective tax rate	October 31, 2019 2018 United States federal statutory rate 21.0 % 23.5 % US Tax Reform Transition Tax Expense - % 177.2 % Puerto Rico, including foreign loss positionsfor which the resulting deferred asset has been allowed, net (15.0 )% (16.5 )% Other, including US loss positions for which the resulting deferred tax asset has been allowed, net 0.1 % (1.4 )% Effective tax rate 6.1 % 182.8 %

F. COMMITMENTS AND CONTINGENC_2

F. COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Oct. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease payments for capital leases	Twelve months ending October 31, Amount 2020 $ 14,908 2021 14,908 2022 14,908 2023 14,908 2024 31,181 Total future minimum lease payments 90,813 Less: Amount of imputed interest (12,704 ) Present value of future minimum lease payments 78,109 Current portion of obligation under capital leases (11,030 ) Long-term portion $ 67,079
Schedule of future minimum rental payments for operating leases	Amount 2020 $ 376,850 2021 62,808 Total minimum future rental payments $ 439,658

I. EARNINGS (LOSSES) PER SHARE

I. EARNINGS (LOSSES) PER SHARE (Tables)	12 Months Ended
	Oct. 31, 2019
Earnings Per Share [Abstract]
Schedule of calculations of basic and diluted earnings per share	Years ended October 31, 2019 2018 Net income (loss) available to common equity holders - used to compute basic and diluted earnings (losses) per share (continuing operations) $ 2,087,256 $ (1,261,736 ) Net income available to common equity holders - used to compute basic and diluted earnings (losses) per share (discontinued operations) $ - $ 2,541,470 Weighted average number of common shares - used to compute basic earnings (losses) per share 23,054,653 23,080,995 Effect of warrants to purchase common stock - - Effect of restricted stock units to issue common stock - - Effect of options to purchase common stock 59,204 15,257 Weighted average number of shares - used to compute diluted earnings (losses) per share 23,113,857 23,096,252

J. STOCK OPTIONS AND STOCK BASE

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Oct. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock options activity	The 2005 Plan stock options activity and status for the years ended October 31, 2019 and 2018 was as follows: Year ended October 31, 2019 2018 Weighted- Weighted- Number of Average Option Number of Average Option Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 160,000 $ 1.6650 200,000 $ 1.4820 Granted - $ - - $ - Exercised - $ - - $ - Expired and/or forfeited (80,000 ) $ 2.0500 (40,000 ) $ 0.7500 Total outstanding at end of year 80,000 $ 1.2800 160,000 $ 1.6650 Outstanding exercisable stock options at end of year 80,000 $ 1.2800 160,000 $ 1.6650 October 31, 2019 October 31, 2018 Weighted average remaining years in contractual life for: Total outstanding options 0.2 years 0.7 years Outstanding exercisable options 0.2 years 0.7 years Shares of common stock available for issuance pursuant to future stock option grants - - The 2014 Plan stock options activity and status for the years ended October 31, 2019 and 2018 was as follows: Year ended October 31, 2019 2018 Weighted- Weighted- Number of Average Option Number of Average Option Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 329,600 $ 0.8238 460,000 $ 0.8887 Granted 180,000 $ 0.9333 80,000 $ 0.5200 Exercised (99,600) $ 0.8666 (210,400) $ 0.8502 Expired and/or forfeited - $ - - $ - Total outstanding at end of year 410,000 $ 0.8615 329,600 $ 0.8238 Outstanding exercisable stock options at end of year 270,000 $ 0.8341 190,000 $ 0.8653 October 31, 2019 October 31, 2018 Weighted average remaining years in contractual life for: Total outstanding options 3.2 years 2.8 years Outstanding exercisable options 2.5 years 2.9 years Shares of common stock available for issuance pursuant to future stock option grants 1,580,000 1,760,000
Assumptions used to estimate the fair value of stock options	Year ended October 31, 2019 2018 Expected dividend yield 0.0 % 0.0 % Expected stock price volatility 78.9 % 73.6 % Risk free interest rate 1.9 % 2.0 % Expected life of options 3.4 years 3.2 years Weighted average fair value of options granted $ 0.5076 $ 0.2624
Stock-based compensation	Year ended October 31, 2019 2018 Stock-based compensation expense: Cost of services $ - $ - Selling, general and administrative 34,120 51,642 Stock-based compensation before tax 34,120 51,642 Income tax benefit - - Net stock-based compensation expense $ 34,120 $ 51,642 Effect on earnings per share: Basic earnings per share $ (0.001 ) $ (0.002 ) Diluted earnings per share $ (0.001 ) $ (0.002 )

M. SEGMENT DISCLOSURES (Tables)

M. SEGMENT DISCLOSURES (Tables)	12 Months Ended
	Oct. 31, 2019
Segment Reporting [Abstract]
Schedule of segment reporting information	Year ended October 31, 2019 2018 REVENUES: Puerto Rico consulting $ 16,797,783 $ 14,438,772 United States consulting 2,188,276 2,137,748 Europe consulting 315,329 1,153,740 Other segments¹ 205,523 67,165 Total consolidated revenues $ 19,506,911 $ 17,797,425 INCOME (LOSS) BEFORE TAXES: Puerto Rico consulting $ 1,906,513 $ 1,217,758 United States consulting (33,113 ) (119,140 ) Europe consulting (238,420 ) 11,194 Other segments¹ 588,270 413,977 Total consolidated income before taxes $ 2,223,250 $ 1,523,789 1 Other segments represent activities that fall below the reportable threshold and are carried out in Puerto Rico and Brazil. These activities include a Brazilian compliance consulting division and corporate headquarters, as applicable.

B. LABORATORY ASSETS SALE - D_2

B. LABORATORY ASSETS SALE - DISCONTINUED OPERATIONS (Details 1) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Gain on sale of Laboratory Assets	$ 0	$ 2,712,244

D. PROPERTY AND EQUIPMENT (Deta

D. PROPERTY AND EQUIPMENT (Details) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Property and equipment gross	$ 799,933	$ 794,973
Less: Accumulated depreciation and amortization	(509,275)	(496,953)
Property and equipment, net	$ 290,658	298,020
Vehicles
Useful life (years)	5 years
Property and equipment gross	$ 253,579	269,257
Leasehold improvements
Useful life (years)	5-8 years
Property and equipment gross	$ 84,445	84,485
Computers
Useful life (years)	3 years
Property and equipment gross	$ 330,250	307,579
Equipment
Useful life (years)	3-7 years
Property and equipment gross	$ 130,110	132,089
Furniture and fixtures
Useful life (years)	10 years
Property and equipment gross	$ 1,549	1,563
Projects in process
Property and equipment gross		$ 0

E. INCOME TAXES (Details)

E. INCOME TAXES (Details)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Income Tax Disclosure [Abstract]
United States federal statutory rate	21.00%	23.50%
US Tax Reform Transition Tax Expense	0.00%	177.20%
Puerto Rico, including foreign loss positions for which the resulting deferred asset has been allowed, net	(15.00%)	(16.50%)
Other, including United States loss position for which the resulting deferred tax asset has been allowed, net	0.10%	(1.40%)
Effective tax rate	6.10%	182.80%

E. INCOME TAXES (Details Narrat

E. INCOME TAXES (Details Narratives)	Oct. 31, 2019USD ($)
Pharma-Spain
Unused operating losses	$ 1,501,000
Potential deferred tax asset which has been allowed	300,000
Pharma-IR
Unused operating losses	127,000
Potential deferred tax asset which has been allowed	16,000
Pharma-Bio
Unused operating losses	2,774,000
Potential deferred tax asset which has been allowed	$ 582,000

F. COMMITMENTS AND CONTINGENC_3

F. COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Oct. 31, 2019	Oct. 31, 2018
Twelve months ending October 31,
2020	$ 14,908
2021	14,908
2022	14,908
2023	14,908
2025	31,181
Total future minimum lease payments	90,813
Less: Amount of imputed interest	(12,704)
Present value of future minimum lease payments	78,109
Current portion of obligation under capital leases	(11,030)	$ (13,768)
Long-term portion	$ 67,079	$ 46,027

F. COMMITMENTS AND CONTINGENC_4

F. COMMITMENTS AND CONTINGENCIES (Details 1)	Oct. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 376,850
2021	62,808
Total minimum rental payments	$ 439,658

F. COMMITMENTS AND CONTINGENC_5

F. COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Rent expense	$ 386,000	$ 389,000
Vehicles
Leased vehicles under non-cancelable capital lease agreements	86,000	77,470
Accumulated amortization leased vehicles	11,467	21,163
Amortization expense	$ 11,467	$ 15,495

I. EARNINGS (LOSSES) PER SHAR_2

I. EARNINGS (LOSSES) PER SHARE (Details) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Earnings Per Share [Abstract]
Net income (loss) available to common equity holders - used to compute basic and diluted earnings (losses) per share -continuing operations	$ 2,087,256	$ (1,261,736)
Net income (loss) available to common equity holders - used to compute basic and diluted earnings (losses) per share -discontinued operations	$ 0	$ 2,541,470
Weighted average number of common shares - used to compute basic earnings (losses) per share	23,054,653	23,080,995
Effect of warrants to purchase common stock	0	0
Effect of restricted stock units to issue common stock	0	0
Effect of options to purchase common stock	59,204	15,257
Weighted average number of shares - used to compute diluted earnings (losses) per share	23,113,857	23,096,252

J. STOCK OPTIONS AND STOCK BA_2

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Details) - $ / shares	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
2005 Plan
Stock option Activity
Options Outstanding, Beginning	160,000	200,000
Options Granted	0	0
Options Exercised	0	0
Options Expired and/or forfeited	(80,000)	(40,000)
Options Outstanding, Ending	80,000	160,000
Options Exercisable, Ending	80,000	160,000
Weighted Average Option Exercise Price
Options Outstanding, Beginning	$ 1.6650	$ 1.4820
Options Granted	0	0
Options Exercised	0	0
Options Expired and or forfeited	2.0500	0.7500
Options Outstanding, Ending	1.2800	1.6650
Options Exercisable, Ending	$ 1.2800	$ 1.6650
Weighted average remaining years in contractual life for: Total outstanding options	2 months 12 days	8 months 12 days
Weighted average remaining years in contractual life for: Outstanding exercisable options	2 months 12 days	8 months 12 days
Shares of common stock available for issuance pursuant to future stock option grants	0	0
2014 Plan
Stock option Activity
Options Outstanding, Beginning	329,600	460,000
Options Granted	180,000	80,000
Options Exercised	(99,600)	(210,400)
Options Expired and/or forfeited	0	0
Options Outstanding, Ending	410,000	329,600
Options Exercisable, Ending	270,000	190,000
Weighted Average Option Exercise Price
Options Outstanding, Beginning	$ 0.8238	$ 0.8887
Options Granted	.9333	0.5200
Options Exercised	.8666	0.8502
Options Expired and or forfeited	0	0
Options Outstanding, Ending	.8615	0.8238
Options Exercisable, Ending	$ .8341	$ 0.8653
Weighted average remaining years in contractual life for: Total outstanding options	3 years 2 months 12 days	2 years 9 months 18 days
Weighted average remaining years in contractual life for: Outstanding exercisable options	2 years 6 months	2 years 10 months 24 days
Shares of common stock available for issuance pursuant to future stock option grants	1,580,000	1,760,000

J. STOCK OPTIONS AND STOCK BA_3

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Details 1) - 2014 Plan - $ / shares	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Expected dividend yield	0.00%	0.00%
Expected stock price volatility	78.90%	73.60%
Risk free interest rate	1.90%	2.00%
Expected life of options	3 years 4 months 24 days	3 years 2 months 12 days
Weighted average fair value of options granted	$ .5076	$ 0.2624

J. STOCK OPTIONS AND STOCK BA_4

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Details 2) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Stock-based compensation before tax	$ 34,120	$ 51,642
Income tax benefit	0	0
Net stock-based compensation expense	$ 34,120	$ 51,642
Effect on earnings per share: Basic earnings per share	$ (.001)	$ (0.002)
Effect on earnings per share: Diluted earnings per share	$ (.001)	$ (0.002)
Cost of services
Stock-based compensation before tax	$ 0	$ 0
Selling, general and administrative
Stock-based compensation before tax	$ 34,120	$ 51,642

J. STOCK OPTIONS AND STOCK BA_5

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Details Narrative) - USD ($)	Oct. 31, 2019	Oct. 31, 2018
2014 Plan
Aggregate intrinsic value of options outstanding	$ 25,200	$ 74,570

K. CONCENTRATION OF RISKS (Deta

K. CONCENTRATION OF RISKS (Details Narrative)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Major Customer A
Revenue from major customers	25.30%	9.20%
Major Customer B
Revenue from major customers	10.40%	2.70%
Major Customer C
Revenue from major customers	11.70%	13.90%
Major Customer D
Revenue from major customers	10.20%	7.50%
Major Customer E
Revenue from major customers	5.60%	15.70%
Major Customer Total
Revenue from major customers	63.20%	49.00%
Amount due from major customers as percentage of accounts receivable	82.00%	52.70%
Global Customer A
Revenue from major customers	25.30%	9.20%
Global Customer B
Revenue from major customers	13.70%	5.40%
Global Customer C
Revenue from major customers	11.70%	13.90%
Global Customer D
Revenue from major customers	10.20%	7.50%
Global Customer E
Revenue from major customers	5.60%	15.70%
Global Customer Total
Revenue from major customers	66.50%	51.70%
Amount due from major customers as percentage of accounts receivable	83.40%	55.50%

M. SEGMENT DISCLOSURES (Details

M. SEGMENT DISCLOSURES (Details) - USD ($)		12 Months Ended
		Oct. 31, 2019	Oct. 31, 2018
Revenues		$ 19,506,911	$ 17,797,425
Income (loss) before taxes		2,223,250	1,523,789
Puerto Rico consulting
Revenues		16,797,783	14,438,772
Income (loss) before taxes		1,906,513	1,217,758
United States consulting
Revenues		2,188,276	2,137,748
Income (loss) before taxes		(33,113)	(119,140)
Europe consulting
Revenues		315,329	1,153,740
Income (loss) before taxes		(238,420)	11,194
Other segments
Revenues	[1]	205,523	67,165
Income (loss) before taxes	[1]	$ 588,270	$ 413,977
[1]	Other segments represent activities that fall below the reportable threshold and are carried out in Puerto Rico and Brazil. These activities include a Brazilian compliance consulting division and corporate headquarters, as applicable.

N. RETIREMENT PLAN (Details Nar

N. RETIREMENT PLAN (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Retirement Benefits [Abstract]
Contributions made to retirement plan	$ 67,900	$ 0