Pharma-Bio Serv (PBSV) 10-K 1 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Oct. 31, 2020	Jan. 27, 2021	Apr. 30, 2020
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, 2020
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 Interactive Data Current	Yes
Entity Incorporation State Country Code	DE
Entity File Number	000-50956
Entity Public Float			$ 11,288,164
Entity Common Stock, Shares Outstanding		23,029,215
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Current assets
Cash and cash equivalents	$ 17,137,924	$ 15,490,174
Accounts receivable	9,727,591	8,781,026
Current portion - promissory note receivable due from sale of assets from discontinued operations	1,250,000	1,250,000
Prepaids and other assets	468,703	453,780
Total current assets	28,584,218	25,974,980
Property and equipment	217,572	290,658
Operating lease right-of-use	846,714	0
Other assets	270,242	367,437
Total assets	29,918,746	26,633,075
Current liabilities
Current portion - obligations under finance lease	11,640	11,030
Loans - short term portion	1,287,800	0
Current operating lease liabilities	162,917	0
Accounts payable and accrued expenses	1,938,305	1,590,172
Dividend payable to stockholders	0	1,725,295
Current portion of US Tax Reform Transition Tax and income taxes payable	392,131	344,043
Total current liabilities	3,792,793	3,670,540
US Tax Reform Transition Tax payable	2,062,024	2,270,000
Loans - long term portion	643,900	0
Long term portion - obligation under finance lease	55,439	67,079
Long-term operating lease liabilities	629,979	0
Other liabilities	17,950	17,950
Total liabilities	7,202,085	6,025,569
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; 23,405,753 and 23,397,707 shares issued, and 23,001,627 and 22,995,881 shares outstanding at October 31, 2020 and 2019, respectively	2,341	2,340
Additional paid-in capital	1,423,954	1,381,076
Retained earnings	21,523,990	19,473,069
Accumulated other comprehensive loss	160,654	143,600
Stockholders' equity before treasury stock	23,110,939	21,000,085
Treasury stock, at cost; 404,126 and 401,826 common shares held at October 31, 2020 and 2019, respectively	(394,278)	(392,579)
Total stockholders' equity	22,716,661	20,607,506
Total liabilities and stockholders' equity	$ 29,918,746	$ 26,633,075

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2020	Oct. 31, 2019
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	23,405,753	23,397,707
Common stock, outstanding	23,001,627	22,995,881
Treasury stock	404,126	401,826

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Income Statement [Abstract]
REVENUES	$ 21,564,360	$ 19,506,911
COST OF SERVICES	14,897,638	13,330,295
GROSS PROFIT	6,666,722	6,176,616
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	4,441,175	4,479,933
INCOME FROM OPERATIONS	2,225,547	1,696,683
OTHER INCOME, NET	64,463	526,567
INCOME BEFORE INCOME TAX	2,290,010	2,223,250
INCOME TAX EXPENSE	239,088	135,994
NET INCOME	$ 2,050,922	$ 2,087,256
BASIC AND DILUTED EARNINGS PER COMMON SHARE	$ .089	$ 0.09
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	23,003,327	23,054,653
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED	23,040,075	23,113,857

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 2,050,922	$ 2,087,256
Foreign currency translation gain (loss):
Net unrealized gan (loss)	17,054	(25,508)
Intercompany balances foreign exchange settlement, included in net income	0	65,636
Net unrealized loss on available-for sale securities	0	(4,475)
TOTAL OTHER COMPREHENSIVE INCOME	17,054	35,653
COMPREHENSIVE INCOME	$ 2,067,976	$ 2,122,909

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, 2018	23,373,817	0
BEGINNING 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, NET OF TAX					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	0
ENDING BALANCE, AMOUNT at Oct. 31, 2019	$ 2,340	$ 0	1,381,076	19,473,069	143,600	(392,579)	20,607,506
STOCK-BASED COMPENSATION			42,878				42,878
ISSUANCE OF COMMON STOCK PURSUANT TO THE CASHLESS EXERCISE OF STOCK OPTIONS, SHARES	8,046
ISSUANCE OF COMMON STOCK PURSUANT TO THE CASHLESS EXERCISE OF STOCK OPTIONS, AMOUNT	$ 1			(1)			0
PURCHASE OF TREASURY STOCK						(1,699)	(1,699)
NET INCOME				2,050,922			2,050,922
OTHER COMPREHENSIVE INCOME, NET OF TAX					17,054		17,054
CASH DIVIDEND ($0.075 PER COMMON SHARE AT RECORD DATE)							0
ENDING BALANCE, SHARES at Oct. 31, 2020	23,405,753	0
ENDING BALANCE, AMOUNT at Oct. 31, 2020	$ 2,341	$ 0	$ 1,423,954	$ 21,523,990	$ 160,654	$ (394,278)	$ 22,716,661

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Statement of Stockholders' Equity [Abstract]
PURCHASE OF TREASURY STOCKS	2,300	86,422
DIVIDEND PER SHARE		$ .075

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,050,922	$ 2,087,256
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Gain on disposition of property and equipment	(13,327)	(47,392)
Stock-based compensation	42,878	34,120
Depreciation and amortization	86,283	99,095
Other-than-temporary impairment on available-for-sale securities	0	(4,475)
Increase in accounts receivable	(944,257)	(3,593,069)
(Increase) decrease in other assets	(675,902)	47,676
Increase (decrease) in liabilities	978,845	(830,950)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	1,525,442	(2,207,739)
CASH FLOWS FROM INVESTING ACTIVITIES:
Disposal of marketable securities	0	44,475
Acquisition of property and equipment	(55,657)	(57,379)
Proceeds from disposition of property and equipment	26,700	99,038
Collection from promissory note receivable	0	1,750,000
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(28,957)	1,836,134
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from loans	1,931,700	0
Repurchase of common stock	(1,699)	(87,891)
Payments on obligations under finance lease	(11,030)	(67,686)
Cash dividends paid to shareholders	(1,725,295)	0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	193,676	(155,577)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(42,411)	(12,564)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,647,750	(539,746)
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR	15,490,174	16,029,920
CASH AND CASH EQUIVALENTS - END OF YEAR	17,137,924	15,490,174
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for: income taxes	212,463	326,898
Cash paid during the period for: interest	3,869	4,062
SUPPLEMENTARY SCHEDULES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Disposed property and equipment with accumulated depreciation of $38,583 and $86,773 disposed during the years ended October 31, 2020 and 2019, respectively	51,956	138,419
Obligations under finance lease incurred for the acquisition of a vehicle	0	86,000
Income tax withheld by clients to be used as a credit in the Company's income tax returns	4,769	36,681
Conversion of cashless exercise of options to shares of common stock	1	3
Cash dividend declared but not paid	0	1,725,295
Obiligations under operating lease liabilities	$ 911,922	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Statement of Cash Flows [Abstract]
Accumulated depreciation on property and equipment disposed during the years ended October 31, 2020 and 2019, respectively	$ 38,583	$ 86,773

A. ORGANIZATION AND SUMMARY OF

A. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Oct. 31, 2020
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 dissolved on July 2020, 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-Spain and Pharma-Brazil are collectively referred to as the “Company.” The Company operates in Puerto Rico, the United States, 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”). 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 The Company 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. 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 obligations under finance 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 finance 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 the amounts that would have been reported under the prior standard. The Company records revenue under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers. We evaluate our revenue contracts with customers based on the five-step model under ASC 606: (i) Identify the contract with the customer; (ii) Identify the performance obligations in the contract; (iii) Determine the transaction price; (iv) Allocate the transaction price to separate performance obligations; and (v) Recognize revenue when (or as) each performance obligation is satisfied. Revenue is primarily derived from: (1) time and material contracts (representing approximately 99% of total revenues), which are typically based on the number of hours worked at contractually agreed upon rates. These service contracts relate to work which have no alternative use and for which the Company has an enforceable right to payment for the work completed to date. As a result, revenue is recognized over time when or as the Company transfers control of the promised products or services (known as performance obligations) to its customers. (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 are stated at cost. Vehicles under finance 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 of owned assets are provided for, when placed in service, in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives, using straight-line basis. Assets under finance leases are amortized over the lease term. While expenditures for repairs and maintenance are expensed when incurred. Impairment of Long-Lived Assets 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. Based on management estimates, no impairment of the long-lived assets was present as of October 31, 2020 and 2019. 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 Per Share of Common Stock Basic earnings per share of common stock is calculated by dividing net income by the weighted average number of shares of common stock outstanding. Diluted earnings 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 are their 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, 2021. 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, 2019 consolidated financial statements to conform them to the October 31, 2020 consolidated financial statements presentation. Such reclassifications do not have an effect on net income as previously reported. Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 is intended to increase transparency and comparability of accounting for lease transactions. For all leases with terms greater than twelve months, the new guidance will require lessees to recognize right-of-use assets and corresponding lease liabilities on the balance sheet and to disclose qualitative and quantitative information about lease transactions. The new standard maintains a distinction between finance leases and operating leases. As a result, the effect of leases in the statement of operations and statement of cash flows is largely unchanged. In July 2018, the FASB issued ASU 2018-11, Leases - Targeted Improvements, to allow a company to elect an optional modified retrospective transition method that applies the new lease requirements through a cumulative-effect adjustment in the period of adoption. Effective November 1, 2019, the Company adopted the new lease accounting standard using the modified retrospective transition option of applying the new standard at the adoption date. We categorize leases at their inception as either operating or finance leases. The Company leases include an operational lease for office space and a finance lease agreement for a vehicle. The adoption of the new standard resulted in the operating lease being included in operating lease right-of-use assets, current operating lease liabilities, and long-term operating lease liabilities in our consolidated balance sheets, but did not have an impact on the Company’s beginning balance of retained earnings, consolidated statement of operations or statement of cash flows. Finance leases are included in net property and equipment, current installments of long-term debt, and long-term debt in our consolidated balance sheets. The most significant impact was the recognition of right-of-use assets and lease liabilities on account of the Company’s operating leases. The Company recognized $941,009 of right-of-use assets and $911,922 in operating lease liabilities at November 1, 2019. As of October 31, 2020, the total right-of-use assets related to the Company’s operating leases was $846,714 and operating lease liabilities current and non-current were approximately $162,917 and $629,979, respectively. Recent Accounting Pronouncements Recent accounting pronouncements pending adoption not discussed above, are either not applicable, or will not have or are not expected to have a material impact on us.

B. PROMISSORY NOTE RECEIVABLE

B. PROMISSORY NOTE RECEIVABLE	12 Months Ended
	Oct. 31, 2020
Debt Disclosure [Abstract]
B. PROMISSORY NOTE RECEIVABLE	On September 17, 2018 (the “Sales Closing Date”), the Company sold substantially all of its Lab business assets (the “Laboratory Assets”). 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 was composed of two tranches: (i) Tranche A for $2 million and secured with lab equipment and (ii) Tranche B for $1 million which was unsecured. The interest rate accrual was 3% for Tranche A and 5% for Tranche B. As of October 31, 2020, pursuant to the terms of the Promissory Note, the Company had collected $1,750,000. The Promissory Note final installment of $1,250,000 from Tranche A was collected on November 2020.

C. LOANS

C. LOANS	12 Months Ended
	Oct. 31, 2020
Notes and Loans, Noncurrent [Abstract]
C. LOANS	On April 23, 2020, Pharma-PR, Pharma-Serv, and Pharma-US (collectively, the “ ”) entered into loan agreements and related promissory notes (the “ ”) to receive U.S. Small Business Administration Loans (the “ ”). These loans were originated pursuant to the Paycheck Protection Program (the “ ”) established under the Coronavirus Aid, Relief, and Economic Security Act (the “ ”), and in the aggregate amount of $1,931,700 (the “ ”). The Borrowers received the Loan Proceeds on April 23, 2020. These SBA Loans terms follow the CARES Act provisions and the corresponding regulations issued by the SBA. Under regulations established by the Small Business Administration, the Company may seek forgiveness of the SBA Loans.

D. PROPERTY AND EQUIPMENT

D. PROPERTY AND EQUIPMENT	12 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
D. PROPERTY AND EQUIPMENT	The balance of property and equipment at October 31, 2020 and 2019 consisted of the following: October 31, Useful life (years) 2020 2019 Vehicles 5 $ 201,623 $ 253,579 Leasehold improvements 5-8 - 84,445 Computers 3 376,160 330,250 Equipment 3-7 139,685 130,110 Furniture and fixtures 10 1,593 1,549 Total 719,061 799,933 Less: Accumulated depreciation and amortization (501,489 ) (509,275 ) Property and equipment, net $ 217,572 $ 290,658

E. INCOME TAXES

E. INCOME TAXES	12 Months Ended
	Oct. 31, 2020
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. The Company elected to pay the Transition Tax liability of approximately $2.7 million over an eight-year period starting with the Company’s fiscal year 2019. In the past, most of these E&Ps’ were not repatriated and, considered to be reinvested indefinitely in the foreign location. Therefore, no US tax liability was incurred with respect to these E&Ps, unless the E&Ps were repatriated as a dividend. After December 31, 2017, the Tax Reform established a 100% tax exemption on the foreign-source portion of dividends which are received attributable to E&Ps, with certain limitations. However, foreign subsidiaries earnings are subject to U.S. tax at a reduced rate of 10.5%. 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 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. 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 37.5% as provided by the 1994 Puerto Rico Internal Revenue Code, as amended. The operations carried out in the United States by the Company’s subsidiaries, are taxed in the United States at a maximum regular federal income tax rate of 21%. The reconciliation between the United States federal statutory rate and our effective tax rate applicable to continuing operations for the years ended October 31, 2020, and 2019 is as follows: October 31, 2020 2019 United States federal statutory rate 21.0 % 21.0 % Puerto Rico tax holiday derived from PRIDCO Grant (11.3 )% (15.0 )% Other, including US loss positions for which the resulting deferred tax asset has been allowed, net 0.7 % 0.1 % Effective tax rate 10.4 % 6.1 % At October 31, 2020, Pharma-Spain has unused operating losses of approximately $1,379,000. These net operating losses are available to offset future taxable income until October 31, 2029, 2030, 2031, 2032, 2034 and 2035 for the aggregate amounts of $237,000, $318,000, $271,000, $5,000, $527,000 and $21,000. After considering various timing differences for income tax purposes, these unused operating losses result in a potential deferred tax asset for Pharma-Spain of approximately $275,000. 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 2016 (2015 for Puerto Rico) through 2019 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, 2020
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 finance leases together with the present value of the net minimum lease payments at October 31, 2020: Twelve months ending October 31, Amount 2021 $ 14,908 2022 14,908 2023 14,908 2024 31,181 Total future minimum lease payments 75,905 Less: Amount of imputed interest (8,826 ) Present value of future minimum lease payments 67,079 Current portion of obligation under finance leases (11,640 ) Long-term portion $ 55,439 Operating facilities In July 2016, with effective date January 1st, 2016, the Company renegotiated a lease agreement with an affiliate of our past 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. In September 2020, Subtenant exercised the second renewal option for the additional five-year term. Accordingly in September 2020, the Company exercised its lease renewal option for an additional five-year term. 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 also has a virtual office in Greensboro, Georgia. The virtual office monthly fee is $750, which is cancellable at the anniversary date of the agreement upon a 6-month notification provision. 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 (net of extinguishable lease payments) having remaining terms in excess of one year as of October 31, 2020 are as follows: Twelve months ending October 31, Amount 2021 $ 187,850 2022 187,850 2023 187,850 2024 187,850 2025 187,850 Thereafter 31,309 Total future minimum operating lease payments 970,559 Less: Amount of imputed interest (177,663 ) Present value of future minimum operating lease payments 792,896 Current operating lease liabilities (162,917 ) Long term operating lease liabilities $ 629,979 Total minimum future rental payments were reduced by approximately $1,168,545 of sublease rentals to be received in the future under non-cancelable subleases. Rent expense for the years ended October 31, 2020 and 2019 was approximately $402,000 and $386,000, respectively. Contingencies -

G. WARRANTS

G. WARRANTS	12 Months Ended
	Oct. 31, 2020
Share-based Payment Arrangement [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, 2020
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 “Repurchase Program”). The timing, manner, price and amount of any repurchases under the Repurchase Program 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 Repurchase 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. No shares will be repurchased under the Repurchase Program directly from directors or officers of the Company. As of October 31, 2020 and 2019, a total of 341,154 and 338,854 shares of the Company’s common stock were purchased under the Repurchase Program for an aggregate amount of $331,306 and $329,607, 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. During April 2020, the Company suspended purchases under the Repurchase Program to conserve cash due to the economic uncertainty caused by the coronavirus pandemic. On October 23, 2019 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. Accordingly, an aggregate dividend payment of $1,725,295 was paid on November 15, 2019.

I. EARNINGS PER SHARE

I. EARNINGS PER SHARE	12 Months Ended
	Oct. 31, 2020
Earnings Per Share [Abstract]
I. EARNINGS PER SHARE	The computation of basic earnings per share is based on the weighted-average number of our common shares outstanding. The computation of diluted earnings 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 Years ended October 31, 2020 2019 Net income available to common equity holders - used to compute basic and diluted earnings per share $ 2,050,922 $ 2,087,256 Weighted average number of common shares - used to compute basic earnings per share 23,003,327 23,054,653 Effect of warrants to purchase common stock - - Effect of restricted stock units to issue common stock - - Effect of options to purchase common stock 36,748 59,204 Weighted average number of shares - used to compute diluted earnings per share 23,040,075 23,113,857 For the year ended October 31, 2020, options for the purchase of 160,000 shares of common stock were not included in computing earnings per share because their effect were antidilutive. Also, for the year ended on 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 diluted earnings per share because their effect were also antidilutive.

J. STOCK OPTIONS AND STOCK BASE

J. STOCK OPTIONS AND STOCK BASED COMPENSATION	12 Months Ended
	Oct. 31, 2020
Share-based Payment Arrangement [Abstract]
J. STOCK OPTIONS 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, 2020 and 2019 was as follows: Year ended October 31, 2020 2019 Number of Shares Weighted-Average Option Exercise Price Number of Shares Weighted-Average Option Exercise Price Outstanding at beginning of year 80,000 $ 1.2800 160,000 $ 1.6650 Granted - $ - - $ - Exercised - $ - - $ - Expired and/or forfeited (80,000) $ 1.2800 (80,000) $ 2.0500 Total outstanding at end of year - $ - 80,000 $ 1.2800 Outstanding exercisable stock options at end of year - $ - 80,000 $ 1.2800 October 31, 2020 October 31, 2019 Weighted average remaining years in contractual life for: Total outstanding options - 0.2 years Outstanding exercisable options - 0.2 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, 2020 and 2019 was as follows: Year ended October 31, 2020 2019 Number of Shares Weighted-Average Option Exercise Price Number of Shares Weighted-Average Option Exercise Price Outstanding at beginning of year 410,000 $ 0.8615 329,600 $ 0.8238 Granted 80,000 $ 0.7600 180,000 $ 0.9333 Exercised (20,000 ) $ 0.5200 (99,600 ) $ 0.8666 Expired and/or forfeited - $ - - $ - Total outstanding at end of year 470,000 $ 0.8587 410,000 $ 0.8615 Outstanding exercisable stock options at end of year 363,300 $ 0.8657 270,000 $ 0.8341 October 31, 2020 October 31, 2019 Weighted average remaining years in contractual life for: Total outstanding options 2.6 years 3.2 years Outstanding exercisable options 2.1 years 2.5 years Shares of common stock available for issuance pursuant to future stock option grants 1,500,000 1,580,000 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, 2020 and 2019: Year ended October 31, 2020 2019 Expected dividend yield 0.0 % 0.0 % Expected stock price volatility 82.0 % 78.9 % Risk free interest rate 1.6 % 1.9 % Expected life of options 3.2 years 3.4 years Weighted average fair value of options granted $ 0.4152 $ 0.5076 As of October 31, 2020, 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 $38,620 will be recognized in a weighted average period of approximately 1.2 years. As of October 31, 2020 and 2019, the aggregate intrinsic value of options outstanding under the 2014 Plan were approximately $202,700 and $25,200, respectively. As of October 31, 2019 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, 2020 2019 Stock-based compensation expense: Cost of services $ - $ - Selling, general and administrative 42,878 34,120 Stock-based compensation before tax 42,878 34,120 Income tax benefit - - Net stock-based compensation expense $ 42,878 $ 34,120 Effect on earnings per share: Basic earnings per share $ (0.002 ) $ (0.001 ) Diluted earnings per share $ (0.002 ) $ (0.001 )

K. CONCENTRATIONS OF RISKS

K. CONCENTRATIONS OF RISKS	12 Months Ended
	Oct. 31, 2020
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 allowance 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, 2020 or 2019. During the year ended October 31, 2020, revenues from these customers were 16.2%, 14.2%, 11.6%, 10.5% and 9.5%, or a total of 62.0%, as compared to the same period last year for 0.0%, 10.2%, 10.4%, 11.7%, and 25.3%, or a total of 57.6%, respectively. At October 31, 2020 and 2019, amounts due from these customers represented 80.4% and 79.9% 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, 2020 or 2019. During the year ended October 31, 2020, aggregate revenues from these global groups of affiliated companies were 16.2%, 14.3%, 13.8%, 10.5% and 9.5%, or a total of 64.3%, as compared to the same period last year for 0.0%, 10.2%, 13.7%, 11.7%, and 25.3%, or a total of 60.9%, respectively. At October 31, 2020 and 2019, amounts due from these global groups of affiliated companies represented 88.2% and 81.4% of total accounts receivable balance, respectively. As of October 31, 2020, one of the Company’s customers (representing 9.5% of revenues during the year ended October 31, 2020) owes the Company approximately $5.8 million (including $1.25 million from a Promissory Note), which represents approximately 23.5% of the Company’s total working capital. A significant portion of the customer’s funding comes from different financing sources. 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, 2020, the Company collected approximately $1.4 million from this customer.

L. OTHER INCOME

L. OTHER INCOME	12 Months Ended
	Oct. 31, 2020
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 $200,000. 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.

M. SEGMENT DISCLOSURES

M. SEGMENT DISCLOSURES	12 Months Ended
	Oct. 31, 2020
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, 2020 and 2019. 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, 2020 2019 REVENUES: Puerto Rico consulting $ 18,214,656 $ 16,797,783 United States consulting 2,283,370 2,188,276 Europe consulting 829,170 315,329 Brazil consulting 237,164 205,523 Total consolidated revenues $ 21,564,360 $ 19,506,911 INCOME (LOSS) BEFORE TAXES: Puerto Rico consulting $ 2,332,052 $ 2,574,222 United States consulting (80,635 ) (78,471 ) Europe consulting (9,661 ) (238,420 ) Brazil consulting 48,254 (34,081 ) Total consolidated income before taxes $ 2,290,010 $ 2,223,250 During fiscal year 2020, the Company modified certain allocations among the segments, therefore, the fiscal 2019 figures were modified accordingly. This had no impact over consolidated revenues or earnings, nor it had a significant impact on the overall segment reporting. Long lived assets (property and equipment) and related depreciation and amortization expense for the years ended October 31, 2020 and 2019, 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, 2020
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. During the years ended October 31, 2020 and 2019 the Company

O. RELATED PARTY TRANSACTIONS

O. RELATED PARTY TRANSACTIONS	12 Months Ended
	Oct. 31, 2020
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 former Chairman and our former Chairman, effective as of January 1, 2014. Pursuant to the Consulting Agreement as amended, the Consultant provided consulting services for the Board regarding the Company’s strategic initiatives, company services, management, operations and other matters as may have been requested from time to time by the Board. The Chairman received the use of 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 the compensation structure remained unchanged. Pursuant to the Consulting Agreement the Company compensated the Consultant a monthly retainer of $33,700 during the Extension Term. In addition, in the event the Company achieved at least eighty percent (80%) of its budget for the year, the Consultant received a payment in the amount of $100,000 (the “Incentive Fee”). If the Company achieved one hundred percent (100%) or more of its budget for the year, the Incentive Fee would be $120,000. The Consulting Agreement ended pursuant to its terms on December 31, 2020. As more fully disclosed in Note F to the consolidated financial statements, the Company leases its headquarters facilities in Dorado, Puerto Rico, from an affiliate of our past Chairman of the Board.

P. SUBSEQUENT EVENTS

P. SUBSEQUENT EVENTS	12 Months Ended
	Oct. 31, 2020
Subsequent Events [Abstract]
P. SUBSEQUENT EVENTS	On January 5, 2021, the Board of Directors of the Company declared a cash dividend of $0.075 per common share. The dividend is payable on or about February 5, 2021 to shareholders of record as of the close of business on January 25, 2021.

A. ORGANIZATION AND SUMMARY O_2

A. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Oct. 31, 2020
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	The Company 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.
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 obligations under finance 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 finance 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 the amounts that would have been reported under the prior standard. The Company records revenue under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers. We evaluate our revenue contracts with customers based on the five-step model under ASC 606: (i) Identify the contract with the customer; (ii) Identify the performance obligations in the contract; (iii) Determine the transaction price; (iv) Allocate the transaction price to separate performance obligations; and (v) Recognize revenue when (or as) each performance obligation is satisfied. Revenue is primarily derived from: (1) time and material contracts (representing approximately 99% of total revenues), which are typically based on the number of hours worked at contractually agreed upon rates. These service contracts relate to work which have no alternative use and for which the Company has an enforceable right to payment for the work completed to date. As a result, revenue is recognized over time when or as the Company transfers control of the promised products or services (known as performance obligations) to its customers. (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 are stated at cost. Vehicles under finance 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 of owned assets are provided for, when placed in service, in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives, using straight-line basis. Assets under finance leases are amortized over the lease term. While expenditures for repairs and maintenance are expensed when incurred.
Impairment of Long-Lived Assets	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. Based on management estimates, no impairment of the long-lived assets was present as of October 31, 2020 and 2019.
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 Per Share of Common Stock	Basic earnings per share of common stock is calculated by dividing net income by the weighted average number of shares of common stock outstanding. Diluted earnings 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 are their 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, 2021. 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, 2019 consolidated financial statements to conform them to the October 31, 2020 consolidated financial statements presentation. Such reclassifications do not have an effect on net income as previously reported.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 is intended to increase transparency and comparability of accounting for lease transactions. For all leases with terms greater than twelve months, the new guidance will require lessees to recognize right-of-use assets and corresponding lease liabilities on the balance sheet and to disclose qualitative and quantitative information about lease transactions. The new standard maintains a distinction between finance leases and operating leases. As a result, the effect of leases in the statement of operations and statement of cash flows is largely unchanged. In July 2018, the FASB issued ASU 2018-11, Leases - Targeted Improvements, to allow a company to elect an optional modified retrospective transition method that applies the new lease requirements through a cumulative-effect adjustment in the period of adoption. Effective November 1, 2019, the Company adopted the new lease accounting standard using the modified retrospective transition option of applying the new standard at the adoption date. We categorize leases at their inception as either operating or finance leases. The Company leases include an operational lease for office space and a finance lease agreement for a vehicle. The adoption of the new standard resulted in the operating lease being included in operating lease right-of-use assets, current operating lease liabilities, and long-term operating lease liabilities in our consolidated balance sheets, but did not have an impact on the Company’s beginning balance of retained earnings, consolidated statement of operations or statement of cash flows. Finance leases are included in net property and equipment, current installments of long-term debt, and long-term debt in our consolidated balance sheets. The most significant impact was the recognition of right-of-use assets and lease liabilities on account of the Company’s operating leases. The Company recognized $941,009 of right-of-use assets and $911,922 in operating lease liabilities at November 1, 2019. As of October 31, 2020, the total right-of-use assets related to the Company’s operating leases was $846,714 and operating lease liabilities current and non-current were approximately $162,917 and $629,979, respectively. Recent Accounting Pronouncements Recent accounting pronouncements pending adoption not discussed above, are either not applicable, or will not have or are not expected to have a material impact on us.

D. PROPERTY AND EQUIPMENT (Tabl

D. PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
Summary of property and equipment	October 31, Useful life (years) 2020 2019 Vehicles 5 $ 201,623 $ 253,579 Leasehold improvements 5-8 - 84,445 Computers 3 376,160 330,250 Equipment 3-7 139,685 130,110 Furniture and fixtures 10 1,593 1,549 Total 719,061 799,933 Less: Accumulated depreciation and amortization (501,489 ) (509,275 ) Property and equipment, net $ 217,572 $ 290,658

E. INCOME TAXES (Tables)

E. INCOME TAXES (Tables)	12 Months Ended
	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of reconciliation between federal statutory rate and effective tax rate	October 31, 2020 2019 United States federal statutory rate 21.0 % 21.0 % Puerto Rico tax holiday derived from PRIDCO Grant (11.3 )% (15.0 )% Other, including US loss positions for which the resulting deferred tax asset has been allowed, net 0.7 % 0.1 % Effective tax rate 10.4 % 6.1 %

F. COMMITMENTS AND CONTINGENC_2

F. COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease payments for finance leases	Twelve months ending October 31, Amount 2021 $ 14,908 2022 14,908 2023 14,908 2024 31,181 Total future minimum lease payments 75,905 Less: Amount of imputed interest (8,826 ) Present value of future minimum lease payments 67,079 Current portion of obligation under finance leases (11,640 ) Long-term portion $ 55,439
Schedule of future minimum rental payments for operating leases	Twelve months ending October 31, Amount 2021 $ 187,850 2022 187,850 2023 187,850 2024 187,850 2025 187,850 Thereafter 31,309 Total future minimum operating lease payments 970,559 Less: Amount of imputed interest (177,663 ) Present value of future minimum operating lease payments 792,896 Current operating lease liabilities (162,917 ) Long term operating lease liabilities $ 629,979

I. EARNINGS PER SHARE (Tables)

I. EARNINGS PER SHARE (Tables)	12 Months Ended
	Oct. 31, 2020
Earnings Per Share [Abstract]
Schedule of calculations of basic and diluted earnings per share	Years ended October 31, 2020 2019 Net income available to common equity holders - used to compute basic and diluted earnings per share $ 2,050,922 $ 2,087,256 Weighted average number of common shares - used to compute basic earnings per share 23,003,327 23,054,653 Effect of warrants to purchase common stock - - Effect of restricted stock units to issue common stock - - Effect of options to purchase common stock 36,748 59,204 Weighted average number of shares - used to compute diluted earnings per share 23,040,075 23,113,857

J. STOCK OPTIONS AND STOCK BA_2

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Oct. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock options activity	The 2005 Plan stock options activity and status for the years ended October 31, 2020 and 2019 was as follows: Year ended October 31, 2020 2019 Number of Shares Weighted-Average Option Exercise Price Number of Shares Weighted-Average Option Exercise Price Outstanding at beginning of year 80,000 $ 1.2800 160,000 $ 1.6650 Granted - $ - - $ - Exercised - $ - - $ - Expired and/or forfeited (80,000) $ 1.2800 (80,000) $ 2.0500 Total outstanding at end of year - $ - 80,000 $ 1.2800 Outstanding exercisable stock options at end of year - $ - 80,000 $ 1.2800 October 31, 2020 October 31, 2019 Weighted average remaining years in contractual life for: Total outstanding options - 0.2 years Outstanding exercisable options - 0.2 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, 2020 and 2019 was as follows: Year ended October 31, 2020 2019 Number of Shares Weighted-Average Option Exercise Price Number of Shares Weighted-Average Option Exercise Price Outstanding at beginning of year 410,000 $ 0.8615 329,600 $ 0.8238 Granted 80,000 $ 0.7600 180,000 $ 0.9333 Exercised (20,000 ) $ 0.5200 (99,600 ) $ 0.8666 Expired and/or forfeited - $ - - $ - Total outstanding at end of year 470,000 $ 0.8587 410,000 $ 0.8615 Outstanding exercisable stock options at end of year 363,300 $ 0.8657 270,000 $ 0.8341 October 31, 2020 October 31, 2019 Weighted average remaining years in contractual life for: Total outstanding options 2.6 years 3.2 years Outstanding exercisable options 2.1 years 2.5 years Shares of common stock available for issuance pursuant to future stock option grants 1,500,000 1,580,000
Assumptions used to estimate the fair value of stock options	Year ended October 31, 2020 2019 Expected dividend yield 0.0 % 0.0 % Expected stock price volatility 82.0 % 78.9 % Risk free interest rate 1.6 % 1.9 % Expected life of options 3.2 years 3.4 years Weighted average fair value of options granted $ 0.4152 $ 0.5076
Stock-based compensation	Year ended October 31, 2020 2019 Stock-based compensation expense: Cost of services $ - $ - Selling, general and administrative 42,878 34,120 Stock-based compensation before tax 42,878 34,120 Income tax benefit - - Net stock-based compensation expense $ 42,878 $ 34,120 Effect on earnings per share: Basic earnings per share $ (0.002 ) $ (0.001 ) Diluted earnings per share $ (0.002 ) $ (0.001 )

M. SEGMENT DISCLOSURES (Tables)

M. SEGMENT DISCLOSURES (Tables)	12 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Schedule of segment reporting information	Year ended October 31, 2020 2019 REVENUES: Puerto Rico consulting $ 18,214,656 $ 16,797,783 United States consulting 2,283,370 2,188,276 Europe consulting 829,170 315,329 Brazil consulting 237,164 205,523 Total consolidated revenues $ 21,564,360 $ 19,506,911 INCOME (LOSS) BEFORE TAXES: Puerto Rico consulting $ 2,332,052 $ 2,574,222 United States consulting (80,635 ) (78,471 ) Europe consulting (9,661 ) (238,420 ) Brazil consulting 48,254 (34,081 ) Total consolidated income before taxes $ 2,290,010 $ 2,223,250

D. PROPERTY AND EQUIPMENT (Deta

D. PROPERTY AND EQUIPMENT (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Property and equipment, gross	$ 719,061	$ 799,933
Less: accumulated depreciation and amortization	(501,489)	(509,275)
Property and equipment, net	$ 217,572	290,658
Vehicles
Useful life (years)	5 years
Property and equipment, gross	$ 201,623	253,579
Leasehold Improvements
Useful life (years)	5-8 years
Property and equipment, gross	$ 0	84,445
Computers
Useful life (years)	3 years
Property and equipment, gross	$ 376,160	330,250
Equipment
Useful life (years)	3-7 years
Property and equipment, gross	$ 139,685	130,110
Furniture and Fixtures
Useful life (years)	10 years
Property and equipment, gross	$ 1,593	$ 1,549

E. INCOME TAXES (Details)

E. INCOME TAXES (Details)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Income Tax Disclosure [Abstract]
United States federal statutory rate	21.00%	21.00%
Puerto Rico tax holiday derived from PRIDCO Grant	(11.30%)	(15.00%)
Other, including United States loss position for which the resulting deferred tax asset has been allowed, net	0.70%	0.10%
Effective tax rate	10.40%	6.10%

E. INCOME TAXES (Details Narrat

E. INCOME TAXES (Details Narrative) - Pharma-Spain	Oct. 31, 2020USD ($)
Unused operating losses	$ 1,379,000
Potential deferred tax asset which has been allowed	$ 275,000

F. COMMITMENTS AND CONTINGENC_3

F. COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Twelve months ending October 31,
2021	$ 14,908
2022	14,908
2023	14,908
2024	31,181
Total future minimum lease payments	75,905
Less: amount of imputed interest	(8,826)
Present value of future minimum lease payments	67,079
Current portion of obligation under finance leases	(11,640)	$ (11,030)
Long-term portion	$ 55,439	$ 67,079

F. COMMITMENTS AND CONTINGENC_4

F. COMMITMENTS AND CONTINGENCIES (Details 1) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
2021	$ 187,850
2022	187,850
2023	187,850
2024	187,850
2025	187,850
Thereafter	31,309
Total future minimum operating lease payments	970,559
Less: amount of imputed interest	(177,663)
Present value of future minimum operating lease payments	792,896
Current operating lease liabilities	(162,917)	$ 0
Long term operating lease liabilities	$ 629,979	$ 0

F. COMMITMENTS AND CONTINGENC_5

F. COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Rent expense	$ 402,000	$ 386,000
Vehicles
Leased vehicles under non-cancelable capital lease agreements	86,000	86,000
Accumulated amortization leased vehicles	28,667	11,467
Amortization expense	$ 17,200	$ 11,467

H. EQUITY TRANSACTIONS (Details

H. EQUITY TRANSACTIONS (Details Narrative) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Stockholders' equity:
Shares purchased under Repurchase Program, shares	341,154	338,854
Shares purchased under Repurchase Program, amount	$ 331,306	$ 329,607

I. EARNINGS PER SHARE (Details)

I. EARNINGS PER SHARE (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Earnings Per Share [Abstract]
Net income available to common equity holders - used to compute basic and diluted earnings per share	$ 2,050,922	$ 2,087,256
Weighted average number of common shares - used to compute basic earnings per share	23,003,327	23,054,653
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	36,748	59,204
Weighted average number of shares - used to compute diluted earnings per share	23,040,075	23,113,857

J. STOCK OPTIONS AND STOCK BA_3

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Details) - $ / shares	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
2005 Plan
Stock Option Activity
Options outstanding, beginning	80,000	160,000
Options granted	0	0
Options exercised	0	0
Options expired and/or forfeited	(80,000)	(80,000)
Options outstanding, ending	0	80,000
Options exercisable, ending	0	80,000
Weighted Average Option Exercise Price
Options outstanding, beginning	$ 1.2800	$ 1.6650
Options granted	.0000	.0000
Options exercised	.0000	.0000
Options expired and or forfeited	1.2800	2.0500
Options outstanding, ending	.0000	1.2800
Options exercisable, ending	$ .0000	$ 1.2800
Weighted average remaining years in contractual life for: total outstanding options	0 years	2 months 12 days
Weighted average remaining years in contractual life for: outstanding exercisable options	0 years	2 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	410,000	329,600
Options granted	80,000	180,000
Options exercised	(20,000)	(99,600)
Options expired and/or forfeited	0	0
Options outstanding, ending	470,000	410,000
Options exercisable, ending	363,300	270,000
Weighted Average Option Exercise Price
Options outstanding, beginning	$ 0.8615	$ 0.8238
Options granted	.7600	0.9333
Options exercised	.5200	0.8666
Options expired and or forfeited	.0000	.0000
Options outstanding, ending	.8587	0.8615
Options exercisable, ending	$ .8657	$ 0.8341
Weighted average remaining years in contractual life for: total outstanding options	2 years 7 months 6 days	3 years 2 months 12 days
Weighted average remaining years in contractual life for: outstanding exercisable options	2 years 1 month 6 days	2 years 6 months
Shares of common stock available for issuance pursuant to future stock option grants	1,500,000	1,580,000

J. STOCK OPTIONS AND STOCK BA_4

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Details 1) - 2014 Plan - $ / shares	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Expected dividend yield	0.00%	0.00%
Expected stock price volatility	82.00%	78.90%
Risk free interest rate	1.60%	1.90%
Expected life of options	3 years 2 months 12 days	3 years 4 months 24 days
Weighted average fair value of options granted	$ .4152	$ 0.5076

J. STOCK OPTIONS AND STOCK BA_5

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Details 2) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Stock-based compensation before tax	$ 42,878	$ 34,120
Income tax benefit	0	0
Net stock-based compensation expense	$ 42,878	$ 34,120
Effect on earnings per share: basic earnings per share	$ (.002)	$ (0.001)
Effect on earnings per share: diluted earnings per share	$ (0.002)	$ (0.001)
Cost of Services
Stock-based compensation before tax	$ 0	$ 0
Selling, General and Administrative
Stock-based compensation before tax	$ 42,878	$ 34,120

J. STOCK OPTIONS AND STOCK BA_6

J. STOCK OPTIONS AND STOCK BASED COMPENSATION (Details Narrative) - 2014 Plan - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Estimated stock based compensation expense to be recognized in future periods	$ 38,620
Period of recognition	1 year 2 months 12 days
Aggregate intrinsic value of options outstanding	$ 202,700	$ 25,200

K. CONCENTRATION OF RISKS (Deta

K. CONCENTRATION OF RISKS (Details Narrative)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Major Customer A
Revenue from major customers	16.20%	0.00%
Major Customer B
Revenue from major customers	14.20%	10.20%
Major Customer C
Revenue from major customers	11.60%	10.40%
Major Customer D
Revenue from major customers	10.50%	11.70%
Major Customer E
Revenue from major customers	9.50%	25.30%
Major Customer Total
Revenue from major customers	62.00%	57.60%
Amount due from major customers as percentage of accounts receivable	80.40%	79.90%
Global Customer A
Revenue from major customers	16.20%	0.00%
Global Customer B
Revenue from major customers	14.30%	10.20%
Global Customer C
Revenue from major customers	13.80%	13.70%
Global Customer D
Revenue from major customers	10.50%	11.70%
Global Customer E
Revenue from major customers	9.50%	25.30%
Global Customer Total
Revenue from major customers	64.30%	60.90%
Amount due from major customers as percentage of accounts receivable	88.20%	81.40%

M. SEGMENT DISCLOSURES (Details

M. SEGMENT DISCLOSURES (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
REVENUES	$ 21,564,360	$ 19,506,911
INCOME (LOSS) BEFORE TAXES	2,290,010	2,223,250
Puerto Rico Consulting
REVENUES	18,214,656	16,797,783
INCOME (LOSS) BEFORE TAXES	2,332,052	2,574,222
United States Consulting
REVENUES	2,283,370	2,188,276
INCOME (LOSS) BEFORE TAXES	(80,635)	(78,471)
Europe Consulting
REVENUES	829,170	315,329
INCOME (LOSS) BEFORE TAXES	(9,661)	(238,420)
Brazil Consulting
REVENUES	237,164	205,523
INCOME (LOSS) BEFORE TAXES	$ 48,254	$ (34,081)

N. RETIREMENT PLAN (Details Nar

N. RETIREMENT PLAN (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Retirement Benefits [Abstract]
Contributions made to retirement plan	$ 153,200	$ 67,900