Coda Octopus (CODA) 10-Q 16 Sep 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jul. 31, 2019	Sep. 16, 2019
Document And Entity Information
Entity Registrant Name	Coda Octopus Group, Inc.
Entity Central Index Key	0001334325
Document Type	10-Q
Document Period End Date	Jul. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Entity Reporting Status Current	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,691,524
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jul. 31, 2019	Oct. 31, 2018
CURRENT ASSETS
Cash	$ 9,803,773	$ 7,512,422
Accounts Receivable, net	3,851,791	3,326,623
Inventory	4,354,820	3,823,243
Unbilled Receivables	4,313,610	3,013,116
Other Current Assets	489,595	219,424
Prepaid Expenses	245,061	227,479
Total Current Assets	23,058,650	18,122,307
FIXED ASSETS
Property and Equipment, net	5,762,339	5,246,183
OTHER ASSETS
Goodwill and Other Intangibles, net	3,619,738	3,613,952
Deferred Tax Asset	903,182	1,754,169
Total Other Assets	4,522,920	5,368,121
Total Assets	33,343,909	28,736,611
CURRENT LIABILITIES
Accounts Payable	1,606,607	988,148
Accrued Expenses and Other Current Liabilities	610,478	685,454
Loans and Note Payable, current	481,633	964,695
Deferred Revenue, current	889,727	602,914
Total Current Liabilities	3,588,445	3,241,211
LONG TERM LIABILITIES
Deferred Revenue, long term	143,587	48,906
Loans and Note Payable, long term	696,164	1,059,544
Total Long Term Liabilities	839,751	1,108,450
Total Liabilities	4,428,196	4,349,661
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value; 150,000,000 shares authorized, 10,691,524 and 10,640,416 shares issued and outstanding as of July 31, 2019 and October 31, 2018, respectively	10,692	10,641
Additional Paid-in Capital	59,205,375	58,599,378
Accumulated Other Comprehensive Loss	(3,294,142)	(2,228,663)
Accumulated Deficit	(27,006,212)	(31,994,406)
Total Stockholders' Equity	28,915,713	24,386,950
Total Liabilities and Stockholders' Equity	$ 33,343,909	$ 28,736,611

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 2019	Oct. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	10,691,524	10,640,416
Common stock, shares outstanding	10,691,524	10,640,416

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Income Statement [Abstract]
Net Revenues	$ 6,668,498	$ 5,778,473	$ 19,210,278	$ 12,355,426
Cost of Revenues	2,120,680	1,584,200	6,404,726	3,471,165
Gross Profit	4,547,818	4,194,273	12,805,552	8,884,261
OPERATING EXPENSES
Research & Development	631,690	530,392	1,948,243	1,841,408
Selling, General & Administrative	1,775,909	1,640,842	5,091,866	5,172,229
Total Operating Expenses	2,407,599	2,171,234	7,040,109	7,013,637
INCOME FROM OPERATIONS	2,140,219	2,023,039	5,765,443	1,870,624
OTHER INCOME (EXPENSE)
Other Income	6,398	3,972	65,467	94,642
Interest Expense	(20,275)	(29,421)	(69,683)	(212,910)
Total Other Income (Expense)	(13,877)	(25,449)	(4,216)	(118,268)
NET INCOME BEFORE INCOME TAXES	2,126,342	1,997,590	5,761,227	1,752,356
INCOME TAX BENEFIT (EXPENSE)
Current Tax Benefit (Expense)	(38)	20	77,954	(10)
Deferred Tax (Expense)	(350,617)		(850,987)
Total Income Tax Benefit (Expense)	(350,655)	20	(773,033)	(10)
NET INCOME	$ 1,775,687	$ 1,997,610	$ 4,988,194	$ 1,752,346
NET INCOME PER SHARE:
Basic	$ 0.17	$ 0.19	$ 0.47	$ 0.18
Diluted	$ 0.17	$ 0.19	$ 0.47	$ 0.17
WEIGHTED AVERAGE SHARES:
Basic	10,679,876	10,415,416	10,670,642	9,976,917
Diluted	10,679,876	10,615,416	10,670,642	10,176,917
NET INCOME	$ 1,775,687	$ 1,997,610	$ 4,988,194	$ 1,752,346
Other Comprehensive (Loss) Income
Foreign Currency Translation Adjustment	(1,458,315)	(270,370)	(1,065,479)	304,566
Total Other Comprehensive (Loss) Income	(1,458,315)	(270,370)	(1,065,479)	304,566
COMPREHENSIVE INCOME	$ 317,372	$ 1,727,240	$ 3,922,715	$ 2,056,912

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock Series C [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
Balance at Oct. 31, 2017	$ 1	$ 9,136	$ 52,839,651	$ (2,038,431)	$ (36,982,937)	$ 13,827,420
Balance, shares at Oct. 31, 2017	1,000	9,136,121
Stock issued to investors		$ 1,126	4,953,054			4,954,180
Stock issued to investors, shares		1,125,950
Foreign currency translation adjustment				955,937		955,937
Net Income (Loss)					(167,939)	(167,939)
Balance at Jan. 31, 2018	$ 1	$ 10,262	57,792,705	(1,082,494)	(37,150,876)	19,569,598
Balance, shares at Jan. 31, 2018	1,000	10,262,071
Balance at Oct. 31, 2017	$ 1	$ 9,136	52,839,651	(2,038,431)	(36,982,937)	13,827,420
Balance, shares at Oct. 31, 2017	1,000	9,136,121
Foreign currency translation adjustment						304,566
Net Income (Loss)						1,752,346
Balance at Jul. 31, 2018	$ 1	$ 10,415	58,485,853	(1,733,865)	(35,230,591)	21,531,813
Balance, shares at Jul. 31, 2018	1,000	10,415,416
Balance at Jan. 31, 2018	$ 1	$ 10,262	57,792,705	(1,082,494)	(37,150,876)	19,569,598
Balance, shares at Jan. 31, 2018	1,000	10,262,071
Stock issued to investors		$ 78	358,474			358,552
Stock issued to investors, shares		77,777
Stock Issued to a Consultant		$ 12	57,238			57,250
Stock Issued to a Consultant, shares		12,500
Stock Issued to Former Officer		$ 63	277,436			277,499
Stock Issued to Former Officer, shares		63,068
Foreign currency translation adjustment				(381,001)		(381,001)
Net Income (Loss)					(77,325)	(77,325)
Balance at Apr. 30, 2018	$ 1	$ 10,415	58,485,853	(1,463,495)	(37,228,201)	19,804,573
Balance, shares at Apr. 30, 2018	1,000	10,415,416
Foreign currency translation adjustment				(270,370)		(270,370)
Net Income (Loss)					1,997,610	1,997,610
Balance at Jul. 31, 2018	$ 1	$ 10,415	58,485,853	(1,733,865)	(35,230,591)	21,531,813
Balance, shares at Jul. 31, 2018	1,000	10,415,416
Balance at Oct. 31, 2018		$ 10,641	58,599,378	(2,228,663)	(31,994,406)	24,386,950
Balance, shares at Oct. 31, 2018		10,640,416
Stock issued to investors		$ 23	105,422			105,445
Stock issued to investors, shares		23,965
Foreign currency translation adjustment				297,855		297,855
Net Income (Loss)					1,239,013	1,239,013
Balance at Jan. 31, 2019		$ 10,664	58,704,800	(1,930,808)	(30,755,393)	26,029,263
Balance, shares at Jan. 31, 2019		10,664,381
Balance at Oct. 31, 2018		$ 10,641	58,599,378	(2,228,663)	(31,994,406)	24,386,950
Balance, shares at Oct. 31, 2018		10,640,416
Foreign currency translation adjustment						(1,065,479)
Net Income (Loss)						4,988,194
Balance at Jul. 31, 2019		$ 10,692	59,205,375	(3,294,142)	(27,006,212)	28,915,713
Balance, shares at Jul. 31, 2019		10,691,524
Balance at Jan. 31, 2019		$ 10,664	58,704,800	(1,930,808)	(30,755,393)	26,029,263
Balance, shares at Jan. 31, 2019		10,664,381
Stock issued to Director		$ 8	42,281			42,289
Stock issued to Director, shares		7,143
Foreign currency translation adjustment				94,981		94,981
Net Income (Loss)					1,973,494	1,973,494
Balance at Apr. 30, 2019		$ 10,672	58,747,081	(1,835,827)	(28,781,899)	28,140,027
Balance, shares at Apr. 30, 2019		10,671,524
Stock Issued to a Consultant		$ 20	291,780			291,800
Stock Issued to a Consultant, shares		20,000
Disgorgement of stock sales			166,514			166,514
Foreign currency translation adjustment				(1,458,315)		(1,458,315)
Net Income (Loss)					1,775,687	1,775,687
Balance at Jul. 31, 2019		$ 10,692	$ 59,205,375	$ (3,294,142)	$ (27,006,212)	$ 28,915,713
Balance, shares at Jul. 31, 2019		10,691,524

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 4,988,194	$ 1,752,346
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	594,606	605,645
Stock compensation	334,089	334,749
Loss on the sale of property and equipment	36,344
(Increase) decrease in operating assets:
Accounts receivable	(525,168)	(2,343,834)
Inventory	(531,577)	(535,657)
Unbilled receivables	(1,300,494)	373,301
Other current assets	(270,171)	206,955
Prepaid expenses	(17,582)	106,812
Deferred tax asset	850,987
Increase (decrease) in operating liabilities:
Accounts payable and other current liabilities	543,483	(47,392)
Deferred revenue	381,494	(126,256)
Net Cash Provided by Operating Activities	5,084,205	326,669
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(1,843,589)	(442,041)
Purchases of other intangible assets	(34,303)
Proceeds from the sale of propety and equipment	725,000
Net Cash (used in) Investing Activities	(1,152,892)	(442,041)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayments - loans and notes payable	(846,442)	(5,642,202)
Disgorgement of stock sales	166,514
Issuance of common stock for cash	105,445	5,312,732
Net Cash (Used) in Financing Activities	(574,483)	(329,470)
EFFECT OF CURRENCY EXCHANGE RATE ON CHANGES IN CASH	(1,065,479)	304,566
NET INCREASE (DECREASE) IN CASH	2,291,351	(140,276)
CASH AT THE BEGINNING OF THE PERIOD	7,512,422	6,851,539
CASH AT THE END OF THE PERIOD	9,803,773	6,711,263
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	69,499	178,785
Cash paid for taxes	$ 7,840

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jul. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 1 – BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements have been prepared based upon U.S. Securities and Exchange Commission rules that permit reduced disclosure for interim periods. Therefore, they do not include all information and footnote disclosures necessary for a complete presentation of Coda Octopus Group, Inc.’s financial position, results of operations and cash flows, in conformity with generally accepted accounting principles. Coda Octopus Group, Inc. (the “Company”, “Coda Octopus,” “we,” or “us”) filed audited consolidated financial statements as of and for the fiscal years ended October 31, 2018 and 2017 which included all information and notes necessary for such complete presentation in conjunction with its annual report on Form 10-K filed on February 1, 2019 (as amended on February 7, 2019 and April 23, 2019), (“the Form 10-K”). The results of operations for the interim period ended July 31, 2019 are not necessarily indicative of the results to be expected for any future period or the entire fiscal year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended October 31, 2018, which are contained in the Form 10-K. The accompanying unaudited interim consolidated financial statements contain all adjustments (consisting of normal recurring items) which are, in the opinion of management, necessary for a fair statement of the Company’s financial position as of July 31, 2019 and the results of operations, comprehensive income and cash flows for the interim periods ended July 31, 2019 and 2018. The unaudited interim consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The Company uses the US dollar as the reporting currency for financial reporting. The financial position and results of operations of the Company’s UK-based operations are measured using the British Pound Sterling, Australian based operations are measured using Australian Dollars and Danish based operations are measured using Danish Kroner as the functional currencies. Foreign currency translation gains and losses are recorded as a change in other comprehensive income. Transaction gains and losses generated from the remeasurement of assets and liabilities denominated in currencies other than the functional currency of our foreign operations are also included in other comprehensive income.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Jul. 31, 2019
Revenue Recognition [Abstract]
Revenue Recognition	NOTE 2 – REVENUE RECOGNITION Beginning on November 1, 2018, the Company adopted the Financial Accounting Standards Board’s Topic 606, Revenue from Contracts with Customers Revenue Recognition. Topic 606 has established a five-step process to determine the amount of revenue to record from contracts with customers. The five steps are: ● Determine if we have a contract with a customer; ● Determine the performance obligations in that contract; ● Determine the transaction price; ● Allocate the transaction price to the performance obligations; and ● Determine when to recognize revenue. All of our revenues are earned under formal contracts with our customers and are derived from both sales and rental of underwater technologies and equipment for imaging, mapping, defense and survey applications and from the engineering services that we provide. Our contracts do not include the possibility for additional contingent consideration so that our determination of the contract price does not involve having to consider potential variable additional consideration. Our product sales do not include a right of return by the customer. With regard to our Products Segment, all of our products are sold on a stand-alone basis and those market prices are evidence of the value of the products. To the extent that we also provide services (e.g., installation, training, etc.), those services are either included as part of the product or are subject to written contracts based on the stand-alone value of those services. Revenue from the sale of services is recognized when those services have been provided to the customer and evidence of the provision of those services exist. Revenue derived from rental of our equipment is recognized when performance obligations are met, in particular, on a daily basis during the rental period. For arrangements with multiple performance obligations, we recognize product revenue by allocating the transaction revenue to each performance obligation based on the relative fair value of each deliverable and recognize revenue when performance obligations are met including when equipment is delivered, and for rental of equipment, when installation and other services are performed. Our contracts sometimes require customer payments in advance of revenue recognition and are recognized as revenue when the Company has fulfilled its obligations under the respective contracts. Until such time, we recognize this prepayment as deferred revenue. For software license sales for which any services rendered are not considered essential to the functionality of the software, we recognize revenue upon delivery of the software. With respect to revenues related to our Services Segment that are generated, there are contracts in place that specify the fixed hourly rate and other reimbursable costs to be billed based on material and direct labor hours incurred, revenue is recognized on these contracts based on material and direct labor hours incurred. Revenues from fixed-price contracts are recognized on the percentage-of-completion method, measured by the percentage of costs incurred (materials and direct labor hours) to date to estimated total services (materials and direct labor hours) for each contract. This method is used as we consider expenditures for direct materials and labor hours to be the best available measure of progress on these contracts. Quarterly, we examine all of our fixed-price contracts to determine if there are any losses to be recognized during the period. Any such loss is recorded in the quarter in which the loss first becomes apparent based upon costs incurred to date and the estimated costs to complete as determined by experience from similar contracts. Variations from estimated contract performance could result in adjustments to operating results. Recoverability of Deferred Costs In accordance with Topic 606, we defer costs on projects for service revenue. Deferred costs consist primarily of direct and incremental costs to customize and install systems, as defined in individual customer contracts, including costs to acquire hardware and software from third parties and payroll costs for our employees and other third parties. The pricing of these service contracts is intended to provide for the recovery of these types of deferred costs over the life of the contract. We recognize such costs in accordance with our revenue recognition policy by contract. For revenue recognized under the percentage of completion method, costs are recognized as products are delivered or services are provided in accordance with the percentage of completion calculation. For revenue recognized ratably over the term of the contract, costs are recognized ratably over the term of the contract, commencing on the date of revenue recognition. At each quarterly balance sheet date, we review deferred costs, to ensure they are ultimately recoverable. Any anticipated losses on uncompleted contracts are recognized when evidence indicates the estimated total cost of a contract exceeds its estimated total revenue. Other Revenue Disclosures See Note 14 – Segment Analysis for a breakdown of revenues from external customers and cost of those revenues between our Product Segment and Services Segment including information on the split of revenues by geography.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Jul. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 3 – FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s short term financial instruments consist of cash, receivables, accounts payable and the line of credit. The Company adjusts the carrying value of financial assets and liabilities denominated in other currencies such as cash, receivables, accounts payable and the lines of credit using the appropriate exchange rates at the balance sheet date. The Company believes that the carrying values of these short term financial instruments approximate their estimated fair values.

Foreign Currency Translation

Foreign Currency Translation	9 Months Ended
	Jul. 31, 2019
Foreign Currency [Abstract]
Foreign Currency Translation	NOTE 4 – FOREIGN CURRENCY TRANSLATION The financial position and results of operations of the Company’s foreign subsidiaries are measured using the local currency in the jurisdiction in which the subsidiary operates as the functional currency. Assets and liabilities of operations denominated in foreign currencies are translated into US dollars at exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted average exchange rates during the reporting period. The resulting translation gains and/or losses on assets and liabilities are recorded in accumulated other comprehensive income (loss), and are excluded from net income (loss) until realized through a sale or liquidation of the investment.

Inventory

Inventory	9 Months Ended
	Jul. 31, 2019
Inventory Disclosure [Abstract]
Inventory	NOTE 5 - INVENTORY Inventory is stated at the lower of cost (weighted average method) or net realizable value. Inventory consisted of the following components: July 31, 2019 October 31, 2018 Raw materials and parts $ 3,251,696 $ 2,887,505 Work in progress 603,343 472,204 Finished goods 499,781 463,534 Total Inventory $ 4,354,820 $ 3,823,243

Fixed Assets

Fixed Assets	9 Months Ended
	Jul. 31, 2019
Property, Plant and Equipment [Abstract]
Fixed Assets	NOTE 6 – FIXED ASSETS Fixed assets (without foreign currency adjustments) consist of the following components: October 31, July 31, 2019 2018 Acquisitions Disposals Balance Buildings $ 3,996,860 $ 1,226,209 $ (730,000 ) $ 4,493,069 Land 200,000 - - 200,000 Office machinery and equipment 2,875,443 592,371 (81,192 ) 3,386,622 Furniture, fixtures and improvements 1,109,225 25,009 - 1,134,234 Totals 8,181,528 1,843,589 (811,192 ) 9,213,925 Less: accumulated depreciation (2,935,345 ) (566,089 ) 49,848 (3,451,586 ) Property and Equipment - net $ 5,246,183 $ 1,277,500 $ (761,344 ) $ 5,762,339 October 31, October 31, 2018 2017 Acquisitions Disposals Balance Buildings $ 4,082,346 $ - (85,486 ) $ 3,996,860 Land 200,000 - - 200,000 Office machinery and equipment 2,064,449 853,796 (42,802 ) 2,875,443 Furniture, fixtures and improvements 1,165,897 38,344 (95,016 ) 1,109,225 Totals 7,512,692 892,140 (223,304 ) 8,181,528 Less: accumulated depreciation (2,299,411 ) (758,408 ) 122,474 (2,935,345 ) Property and Equipment - net $ 5,213,281 $ 133,732 $ (100,830 ) $ 5,246,183

Other Current Assets

Other Current Assets	9 Months Ended
	Jul. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	NOTE 7 – OTHER CURRENT ASSETS Other current assets consisted of the following components: July 31, 2019 October 31, 2018 Deposits $ 131,020 $ 21,007 Other receivables 76,995 141,294 Alternative minium tax receivable 75,004 - VAT tax receivables 206,576 57,123 Total Other Current Assets $ 489,595 $ 219,424

Estimates

Estimates	9 Months Ended
	Jul. 31, 2019
Accounting Policies [Abstract]
Estimates	NOTE 8 – ESTIMATES The preparation of consolidated financial statements in conformity with US Generally Accepted Accounting Principles (“US GAAP”) 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 financial statements and the reported amounts of revenues including unbilled and deferred revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include costs and estimated earnings in excess of billings, billings in excess of costs, estimated earnings, valuation of accounts receivable, valuation of fixed assets, valuation of inventory, valuation of deferred tax assets and the valuation of goodwill.

Contracts in Progress

Contracts in Progress	9 Months Ended
	Jul. 31, 2019
Revenue from Contract with Customer [Abstract]
Contracts in Progress	NOTE 9 – CONTRACTS IN PROGRESS Costs and estimated earnings in excess of billings on uncompleted contracts represent accumulated project expenses and fees which have not been invoiced to customers as of the date of the consolidated balance sheets. These amounts are stated on the consolidated balance sheets as unbilled receivables of $4,313,610 and $3,013,116 as of July 31, 2019 and October 31, 2018, respectively. Our deferred revenue of $1,033,314 and $651,820 as of July 31, 2019 and October 31, 2018, respectively, consists of billings in excess of costs and estimated earnings and revenues received as part of our warranty or Through Life Support (“TLS”) obligations upon completing a sale – elaborated further in the last paragraph of this note. Billings in excess of costs and estimated earnings on uncompleted contracts represent project invoices billed to customers that have not been earned as of the date of the consolidated balance sheets. These amounts are stated on the consolidated balance sheets as a component of deferred revenue of $84,776 and $0 as of July 31, 2019 and October 31, 2018, respectively. Revenue received as part of sales of products via our Products Segment includes a provision for warranty or TLS. TLS offers the customer extended post-sales technical support along with software and hardware assurances. These post-sales obligations (warranty and TLS) are treated as deferred revenue and are amortized over the period when the contractual obligations subsist, which for warranty is 12 months and TLS varies between 36 and 60 months depending on the package purchased by the customer. These amounts are stated on the consolidated balance sheets as a component of deferred revenue of $948,538 and $651,820 as of July 31, 2019 and October 31, 2018, respectively.

Concentrations

Concentrations	9 Months Ended
	Jul. 31, 2019
Risks and Uncertainties [Abstract]
Concentrations	NOTE 10 - CONCENTRATIONS Significant Customers During the three months ended July 31, 2019, the Company had one customer from whom it generated sales greater than 10% of net revenues. Revenue from this customer was $2,136,570, or 32% of net revenues during the period. Total accounts receivable from this customer at July 31, 2019 was $820,642 or 21% of accounts receivable. During the three months ended July 31, 2018, the Company had one customer from whom it generated sales greater than 10% of net revenues. Revenue from this customer was $1,113,389, or 19% of net revenues during the period. During the nine months ended July 31, 2019, the Company had one customer from whom it generated sales greater than 10% of net revenues. Revenue from this customer was $5,345,790, or 28% of net revenues during the period. Total accounts receivable from this customer at July 31, 2019 was $820,642 or 21% of accounts receivable. During the nine months ended July 31, 2018, the Company had one customer from whom it generated sales greater than 10% of net revenues. Revenues from this customer was $2,138,815, or 17% of net revenues during the period. The Services Segment business model is such that it works with a small number of Prime Defense Contractors and therefore the concentrations discussed above are a consequence of this and typical in this type of business.

Loans and Notes Payable

Loans and Notes Payable	9 Months Ended
	Jul. 31, 2019
Debt Disclosure [Abstract]
Loans and Notes Payable	NOTE 11 – LOANS AND NOTES PAYABLE July 31, 2019 October 31, 2018 Secured note payable to HSBC NA with interest payable on the 28th day of each month at 4.56% per annum. Our monthly repayment obligation under this loan is $43,777 (comprising both principal and interest repayment). $ 1,177,797 $ 1,524,239 One of the subsidiaries had an unsecured working capital loan from the CEO of the Group. The note was repaid in full in December 2018 and carried an interest rate of 4.5%. - 500,000 Total 1,177,797 2,024,239 Less: current portion (481,633 ) (964,695 ) Total Long Term Loans and Notes Payable $ 696,164 $ 1,059,544

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Jul. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	NOTE 12 – RECENT ACCOUNTING PRONOUNCEMENTS On February 24, 2016, the FASB issued ASU No. 2016-02, Leases, requiring lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. For lessees, leases will continue to be classified as either operating or finance leases in the balance sheet. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model. Lessors will continue to classify leases as operating, direct financing or sales-type leases. The effective date of the new standard for public companies is for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The new standard must be adopted using a modified retrospective transition and requires application of the new guidance at the beginning of the earliest comparative period presented. We own substantially all of our facilities and believe that the effect of adopting this standard will be immaterial. With the exception of the updated standards discussed above, there have been no new accounting pronouncements not yet effective that have significance, or potential significance, to our consolidated financial statements.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Jul. 31, 2019
NET INCOME PER SHARE:
Earnings Per Common Share	NOTE 13 – EARNINGS PER COMMON SHARE Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended Fiscal Period July 31, 2019 July 31, 2018 July 31, 2019 July 31, 2018 Numerator: Net Income (Loss) $ 1,775,687 $ 1,997,610 $ 4,988,194 $ 1,752,346 Denominator: Basic weighted average common shares outstanding 10,679,876 10,415,416 10,670,642 9,976,917 Conversion of Series C Preferred Stock - 200,000 - 200,000 Diluted outstanding shares 10,679,876 10,615,416 10,670,642 10,176,917 Earnings from continuing operations Basic $ 0.17 $ 0.19 $ 0.47 $ 0.18 Diluted $ 0.17 $ 0.19 $ 0.47 $ 0.17

Segment Analysis

Segment Analysis	9 Months Ended
	Jul. 31, 2019
Segment Reporting [Abstract]
Segment Analysis	NOTE 14 – SEGMENT ANALYSIS We operate in two reportable segments, which are managed separately based upon fundamental differences in their operations. Coda Octopus Martech and Coda Octopus Colmek (together “Marine Engineering Business” or “Service Segments”) operate as contractors and Coda Octopus Products operations are comprised primarily of product sales, rental of equipment and/or software and associated services (“Marine Technology Business” or “Products Segment”). Segment operating income is total segment revenue reduced by operating expenses identifiable with the business segment. Corporate includes general corporate administrative costs (“Overheads”). The Company evaluates performance and allocates resources based upon segment operating income. The accounting policies of the reportable segments are the same as those described in the summary of accounting policies in our Consolidated Financial Statements of October 31, 2018. There are inter-segment sales which have been eliminated in our financial statements but are disclosed in the tables below for information purposes. The following table summarizes segment asset and operating balances by reportable segment as of and for the three and nine months ended July 31, 2019 and 2018, respectively. The Company’s reportable business segments operate in four geographic locations: ● Americas ● Europe ● Australia/Asia ● Middle East/Africa Information concerning principal geographic areas is presented below according to the area where the activity has taken place for the three and nine months ended July 31, 2019 and 2018 respectively: Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Three Months Ended July 31, 2019 Revenues from External Customers $ 3,231,510 $ 3,436,988 $ - $ 6,668,498 Cost of Revenues 592,585 1,528,095 - 2,120,680 Gross Profit 2,638,925 1,908,893 - 4,547,818 Research & Development 503,540 32,991 95,159 631,690 Selling, General & Administrative 590,981 659,398 525,530 1,775,909 Total Operating Expenses 1,094,521 692,389 620,689 2,407,599 Income (Loss) from Operations 1,544,404 1,216,504 (620,689 ) 2,140,219 Other Income (Expense) Other Income 6,398 - - 6,398 Interest Expense (2,197 ) (2,150 ) (15,928 ) (20,275 ) Total Other Income (Expense) 4,201 (2,150 ) (15,928 ) (13,877 ) Net Income (Loss) before Income Taxes 1,548,605 1,214,354 (636,617 ) 2,126,342 Income Tax Benefit (Expense) Current Tax Benefit (Expense) (5,172 ) 4,460 674 (38 ) Deferred Tax (Expense) (47,768 ) (214,144 ) (88,705 ) (350,617 ) Total Income Tax (Expense) (52,940 ) (209,684 ) (88,031 ) (350,655 ) Net Income (Loss) $ 1,495,665 $ 1,004,670 $ (724,648 ) $ 1,775,687 Supplemental Disclosures Total Assets $ 18,200,970 $ 13,876,685 $ 1,266,254 $ 33,343,909 Total Liabilities $ 2,169,195 $ 870,492 $ 1,388,509 $ 4,428,196 Revenues from Intercompany Sales - eliminated from sales above $ 136,128 $ 75,729 $ 675,000 $ 886,857 Depreciation and Amortization $ 132,392 $ 63,724 $ 4,078 $ 200,194 (Sales) Purchases of Long-lived Assets $ (262,062 ) $ 5,937 $ 34,303 $ (221,822 ) Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Three Months Ended July 31, 2018 Revenues from External Customers $ 3,926,491 $ 1,851,982 $ - $ 5,778,473 Cost of Revenues 650,669 933,531 - 1,584,200 Gross Profit 3,275,822 918,451 - 4,194,273 Research & Development 440,202 90,190 - 530,392 Selling, General & Administrative 723,155 566,692 350,995 1,640,842 Total Operating Expenses 1,163,357 656,882 350,995 2,171,234 Income (Loss) from Operations 2,112,465 261,569 (350,995 ) 2,023,039 Other Income (Expense) Other Income 3,941 31 - 3,972 Interest Expense (2,480 ) (15,802 ) (11,139 ) (29,421 ) Total Other Income (Expense) 1,461 (15,771 ) (11,139 ) (25,449 ) Net Income (Loss) before Income Taxes 2,113,926 245,798 (362,134 ) 1,997,590 Current Tax Benefit - - 20 20 Net Income (Loss) $ 2,113,926 $ 245,798 $ (362,114 ) $ 1,997,610 Supplemental Disclosures Total Assets $ 14,016,131 $ 11,378,558 $ 553,927 $ 25,948,616 Total Liabilities $ 865,138 $ 1,660,291 $ 1,891,374 $ 4,416,803 Revenues from Intercompany Sales - eliminated from sales above $ 44,180 $ 183,800 $ 675,000 $ 902,980 Depreciation and Amortization $ 137,426 $ 66,435 $ 5,728 $ 209,589 Purchases of Long-lived Assets $ 232,575 $ (6,122 ) $ 30,667 $ 257,120 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Nine Months Ended July 31, 2019 Revenues from External Customers $ 9,481,229 $ 9,729,049 $ - $ 19,210,278 Cost of Revenues 1,798,800 4,605,926 - 6,404,726 Gross Profit 7,682,429 5,123,123 - 12,805,552 Research & Development 1,533,544 130,205 284,494 1,948,243 Selling, General & Administrative 2,089,442 1,864,503 1,137,921 5,091,866 Total Operating Expenses 3,622,986 1,994,708 1,422,415 7,040,109 Income (Loss) from Operations 4,059,443 3,128,415 (1,422,415 ) 5,765,443 Other Income (Expense) Other Income 65,467 - - 65,467 Interest (Expense) (8,063 ) (11,849 ) (49,771 ) (69,683 ) Total Other Income (Expense) 57,404 (11,849 ) (49,771 ) (4,216 ) Net Income (Loss) before Income Taxes 4,116,847 3,116,566 (1,472,186 ) 5,761,227 Income Tax Benefit (Expense) Current Tax Benefit 20,496 39,445 18,013 77,954 Deferred Tax (Expense) (199,073 ) (447,540 ) (204,374 ) (850,987 ) Total Income Tax (Expense) (178,577 ) (408,095 ) (186,361 ) (773,033 ) Net Income (Loss) $ 3,938,270 $ 2,708,471 $ (1,658,547 ) $ 4,988,194 Supplemental Disclosures Total Assets $ 18,200,970 $ 13,876,685 $ 1,266,254 $ 33,343,909 Total Liabilities $ 2,169,195 $ 870,492 $ 1,388,509 $ 4,428,196 Revenues from Intercompany Sales - eliminated from sales above $ 1,044,595 $ 304,658 $ 2,025,000 $ 3,374,253 Depreciation and Amortization $ 391,516 $ 191,402 $ 11,688 $ 594,606 Purchases of Long-lived Assets $ 1,803,206 $ 40,383 $ 34,303 $ 1,877,892 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Nine Months Ended July 31, 2018 Revenues from External Customers $ 8,142,724 $ 4,212,702 $ - $ 12,355,426 Cost of Revenues 1,298,022 2,173,143 - 3,471,165 Gross Profit 6,844,702 2,039,559 - 8,884,261 Research & Development 1,385,994 455,414 - 1,841,408 Selling, General & Administrative 2,150,168 1,813,357 1,208,704 5,172,229 Total Operating Expenses 3,536,162 2,268,771 1,208,704 7,013,637 Income (Loss) from Operations 3,308,540 (229,212 ) (1,208,704 ) 1,870,624 Other Income (Expense) Other Income 92,514 2,128 - 94,642 Interest Expense (9,289 ) (45,503 ) (158,118 ) (212,910 ) Total Other Income (Expense) 83,225 (43,375 ) (158,118 ) (118,268 ) Net Income (Loss) before Income Taxes 3,391,765 (272,587 ) (1,366,822 ) 1,752,356 Current Tax Benefit (Expense) (6,596 ) - 6,586 (10 ) Net Income (Loss) $ 3,385,169 $ (272,587 ) $ (1,360,236 ) $ 1,752,346 Supplemental Disclosures Total Assets $ 14,016,131 $ 11,378,558 $ 553,927 $ 25,948,616 Total Liabilities $ 865,138 $ 1,660,291 $ 1,891,374 $ 4,416,803 Revenues from Intercompany Sales - eliminated from sales above $ 831,352 $ 196,103 $ 2,025,000 $ 3,052,455 Depreciation and Amortization $ 374,076 $ 218,649 $ 12,920 $ 605,645 Purchases of Long-lived Assets $ 486,604 $ 43,839 $ 55,452 $ 585,895 For the Three Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 493,261 $ - $ 493,261 Equipment Rentals 221,567 - 221,567 Software Sales - - - Engineering Parts - 2,259,717 2,259,717 Services 95,698 767,024 862,722 Europe Equipment Sales 418,557 3,235 421,792 Equipment Rentals 322,887 - 322,887 Software Sales 19,259 - 19,259 Engineering Parts - 347,459 347,459 Services 150,216 59,553 209,769 Australia/Asia Equipment Sales 648,640 - 648,640 Equipment Rentals 260,474 - 260,474 Software Sales 81,541 - 81,541 Services 204,273 - 204,273 Middle East & Africa Equipment Sales 290,386 - 290,386 Equipment Rentals - - - Software Sales 21,261 - 21,261 Services 3,490 - 3,490 Total Net Sales $ 3,231,510 $ 3,436,988 $ 6,668,498 For the Three Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 810,526 $ 3,026,741 $ 3,837,267 Europe 910,919 410,247 1,321,166 Australia/Asia 1,194,928 - 1,194,928 Middle East & Africa 315,137 - 315,137 Total Net Sales $ 3,231,510 $ 3,436,988 $ 6,668,498 For the Three Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 1,850,844 $ 3,235 $ 1,854,079 Equipment Rentals 804,928 - 804,928 Software Sales 122,061 - 122,061 Engineering Parts - 2,607,176 2,607,176 Services 453,677 826,577 1,280,254 Total Net Sales $ 3,231,510 $ 3,436,988 $ 6,668,498 For the Three Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 118,488 $ - $ 118,488 Equipment Rentals 323,763 - 323,763 Software Sales 18,625 - 18,625 Engineering Parts - 1,456,962 1,456,962 Services 134,870 7,496 142,366 Europe Equipment Sales 109,410 - 109,410 Equipment Rentals 737,126 - 737,126 Software Sales 29,256 - 29,256 Engineering Parts - 387,524 387,524 Services 323,022 - 323,022 Australia/Asia Equipment Sales 1,175,276 - 1,175,276 Equipment Rentals (3,245 ) - (3,245 ) Software Sales 211,193 - 211,193 Services 136,395 - 136,395 Middle East & Africa Equipment Sales 584,417 - 584,417 Equipment Rentals - - - Software Sales 14,223 - 14,223 Services 13,672 - 13,672 Total Net Sales $ 3,926,491 $ 1,851,982 $ 5,778,473 For the Three Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 595,746 $ 1,464,458 $ 2,060,204 Europe 1,198,814 387,524 1,586,338 Australia/Asia 1,519,619 - 1,519,619 Middle East & Africa 612,312 - 612,312 Total Net Sales $ 3,926,491 $ 1,851,982 $ 5,778,473 For the Three Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 1,987,591 $ - $ 1,987,591 Equipment Rentals 1,057,644 - 1,057,644 Software Sales 273,297 - 273,297 Engineering Parts - 1,844,486 1,844,486 Services 607,959 7,496 615,455 Total Net Sales $ 3,926,491 $ 1,851,982 $ 5,778,473 For the Nine Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 560,339 $ 57,545 $ 617,884 Equipment Rentals 446,594 - 446,594 Software Sales 7,250 - 7,250 Engineering Parts - 6,827,221 6,827,221 Services 915,837 1,646,694 2,562,531 Europe Equipment Sales 1,189,162 114,214 1,303,376 Equipment Rentals 974,394 - 974,394 Software Sales 167,903 - 167,903 Engineering Parts - 1,023,822 1,023,822 Services 628,235 59,553 687,788 Australia/Asia Equipment Sales 2,707,978 - 2,707,978 Equipment Rentals 518,392 - 518,392 Software Sales 283,419 - 283,419 Services 543,314 - 543,314 Middle East & Africa Equipment Sales 300,859 - 300,859 Equipment Rentals 36,130 - 36,130 Software Sales 58,826 - 58,826 Services 142,597 - 142,597 Total Net Sales $ 9,481,229 $ 9,729,049 $ 19,210,278 For the Nine Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 1,930,020 $ 8,531,460 $ 10,461,480 Europe 2,959,694 1,197,589 4,157,283 Australia/Asia 4,053,103 - 4,053,103 Middle East & Africa 538,412 - 538,412 Total Net Sales $ 9,481,229 $ 9,729,049 $ 19,210,278 For the Nine Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 4,758,338 $ 171,759 $ 4,930,097 Equipment Rentals 1,975,510 - 1,975,510 Software Sales 517,398 - 517,398 Engineering Parts - 7,851,043 7,851,043 Services 2,229,983 1,706,247 3,936,230 Total Net Sales $ 9,481,229 $ 9,729,049 $ 19,210,278 For the Nine Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 712,945 $ - $ 712,945 Equipment Rentals 457,690 - 457,690 Software Sales 52,145 - 52,145 Engineering Parts - 2,826,029 2,826,029 Services 730,453 95,082 825,535 Europe Equipment Sales 1,030,167 192,078 1,222,245 Equipment Rentals 1,065,417 - 1,065,417 Software Sales 176,657 - 176,657 Engineering Parts - 1,099,513 1,099,513 Services 611,154 - 611,154 Australia/Asia Equipment Sales 1,590,510 - 1,590,510 Equipment Rentals 69,019 - 69,019 Software Sales 369,167 - 369,167 Services 221,940 - 221,940 Middle East & Africa Equipment Sales 905,933 - 905,933 Equipment Rentals 11,444 - 11,444 Software Sales 75,519 - 75,519 Services 62,564 - 62,564 Total Net Sales $ 8,142,724 $ 4,212,702 $ 12,355,426 For the Nine Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 1,953,233 $ 2,921,111 $ 4,874,344 Europe 2,883,395 1,291,591 4,174,986 Australia/Asia 2,250,636 - 2,250,636 Middle East & Africa 1,055,460 - 1,055,460 Total Net Sales $ 8,142,724 $ 4,212,702 $ 12,355,426 For the Nine Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 4,239,555 $ 192,078 $ 4,431,633 Equipment Rentals 1,603,570 - 1,603,570 Software Sales 673,488 - 673,488 Engineering Parts - 3,925,542 3,925,542 Services 1,626,111 95,082 1,721,193 Total Net Sales $ 8,142,724 $ 4,212,702 $ 12,355,426

Income Taxes

Income Taxes	9 Months Ended
	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 15 – INCOME TAXES The Company files federal income tax returns in the U.S. and state income tax returns in the applicable states on a consolidated basis. The Company’s subsidiaries also file the equivalent returns in the appropriate foreign jurisdictions, as applicable, most notably the United Kingdom. The Company is required to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. There are no material uncertain tax positions included in the accompanying unaudited consolidated financial statements at July 31, 2019 and the audited consolidated financial statements at October 31, 2018. The Company uses an asset and liability approach to financial accounting and reporting for income taxes. The difference between the financial statement and tax bases of assets and liabilities is determined annually. Deferred income tax assets and liabilities are computed for those differences that have future tax consequences using the currently enacted tax laws and rates that apply to the periods in which they are expected to affect taxable income. Valuation allowances are established, if necessary, to reduce the deferred tax asset to the amount that will more likely than not be realized. Income tax expense is the current income tax payable or refundable for the period plus or minus the net change in the deferred tax assets and liabilities. We have federal tax Net Operating Loss (“NOL”) carryforwards of $8,353,186 as of October 31, 2018 which will expire at various dates in the next 20 years. Such NOL carryforwards expire as follows: 2028 $ 2,707,158 2029 5,646,028 Total $ 8,353,186 We believe that it is more likely than not that the benefit from certain federal NOL carryforwards will be realized. The federal NOL carryforwards in the income tax returns filed included unrecognized tax benefits taken in prior years. A portion of the carryforwards may expire before being applied to reduce future income tax liabilities. The deferred tax asset related to the U.S. tax carryforward is $903,182 and was $1,754,169 as of July 31, 2019 and October 31, 2018 respectively. For the nine months ended July 31, 2019 the Company had an Alternative Minimum Tax refund of $77,754 and for the year ended October 31, 2018 had an Alternative Minimum Tax of $7,840. Components of deferred tax assets as of July 31, 2019 and October 31, 2018 are as follows: July 31, 2019 October 31, 2018 Net operating loss carry-forward benefit $ 903,182 $ 1,754,169 Net deferred tax asset $ 903,182 $ 1,754,169 The Company did not incur any regular income tax but did incur an Alternative Minimum Tax expense in the U.S. for the year ended October 31, 2018. For financial purposes in its U.S. entities and other foreign entities not included above, the Company has been able to use net operating loss carryforwards and other timing differences during the current and prior year to offset any tax liabilities in the various tax jurisdictions. The Company’s income tax returns are subject to audit by taxing authorities for the years ending October 31, 2016.

Capital Stock

Capital Stock	9 Months Ended
	Jul. 31, 2019
Equity [Abstract]
Capital Stock	NOTE 16 – CAPITAL STOCK On or around November 16, 2018, the Company issued an aggregate of 23,965 shares of its common stock at a value of $4.40 for each share for a total of $105,446 in cash. The stock was issued pursuant to an anti-dilutive agreement for the private place in January 2018. On or around February 3, 2019, the Company issued an aggregate of 7,143 shares of its common stock at a value of $5.92 for each share to a director pursuant to the terms of his appointment. On or around June 24, 2019, the Company issued an aggregate of 20,000 shares of its common stock at a value of $14.59 for each share to a consultant for services rendered. Disgorgement Proceeds During March 2019, the Company became aware of possible short swing profits triggered by the sale of common stock by a beneficial owner pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended. Following discussions with the stockholder for the purpose of recovering such profits, on May 17, 2019, the Company received a payment of $166,514 representing the entire amount of short swing profits. The Company recognized these proceeds as a capital contribution from stockholders with a corresponding increase to additional paid-in capital.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Jul. 31, 2019
Inventory Disclosure [Abstract]
Components of Inventory	Inventory is stated at the lower of cost (weighted average method) or net realizable value. Inventory consisted of the following components: July 31, 2019 October 31, 2018 Raw materials and parts $ 3,251,696 $ 2,887,505 Work in progress 603,343 472,204 Finished goods 499,781 463,534 Total Inventory $ 4,354,820 $ 3,823,243

Fixed Assets (Tables)

Fixed Assets (Tables)	9 Months Ended
	Jul. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of Fixed Assets	Fixed assets (without foreign currency adjustments) consist of the following components: October 31, July 31, 2019 2018 Acquisitions Disposals Balance Buildings $ 3,996,860 $ 1,226,209 $ (730,000 ) $ 4,493,069 Land 200,000 - - 200,000 Office machinery and equipment 2,875,443 592,371 (81,192 ) 3,386,622 Furniture, fixtures and improvements 1,109,225 25,009 - 1,134,234 Totals 8,181,528 1,843,589 (811,192 ) 9,213,925 Less: accumulated depreciation (2,935,345 ) (566,089 ) 49,848 (3,451,586 ) Property and Equipment - net $ 5,246,183 $ 1,277,500 $ (761,344 ) $ 5,762,339 October 31, October 31, 2018 2017 Acquisitions Disposals Balance Buildings $ 4,082,346 $ - (85,486 ) $ 3,996,860 Land 200,000 - - 200,000 Office machinery and equipment 2,064,449 853,796 (42,802 ) 2,875,443 Furniture, fixtures and improvements 1,165,897 38,344 (95,016 ) 1,109,225 Totals 7,512,692 892,140 (223,304 ) 8,181,528 Less: accumulated depreciation (2,299,411 ) (758,408 ) 122,474 (2,935,345 ) Property and Equipment - net $ 5,213,281 $ 133,732 $ (100,830 ) $ 5,246,183

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Jul. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Other Current Assets	Other current assets consisted of the following components: July 31, 2019 October 31, 2018 Deposits $ 131,020 $ 21,007 Other receivables 76,995 141,294 Alternative minium tax receivable 75,004 - VAT tax receivables 206,576 57,123 Total Other Current Assets $ 489,595 $ 219,424

Loans and Notes Payable (Tables

Loans and Notes Payable (Tables)	9 Months Ended
	Jul. 31, 2019
Debt Disclosure [Abstract]
Schedule of Loans and Notes Payable	July 31, 2019 October 31, 2018 Secured note payable to HSBC NA with interest payable on the 28th day of each month at 4.56% per annum. Our monthly repayment obligation under this loan is $43,777 (comprising both principal and interest repayment). $ 1,177,797 $ 1,524,239 One of the subsidiaries had an unsecured working capital loan from the CEO of the Group. The note was repaid in full in December 2018 and carried an interest rate of 4.5%. - 500,000 Total 1,177,797 2,024,239 Less: current portion (481,633 ) (964,695 ) Total Long Term Loans and Notes Payable $ 696,164 $ 1,059,544

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Jul. 31, 2019
NET INCOME PER SHARE:
Schedule of Earnings Per Share Basic and Diluted	Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended Fiscal Period July 31, 2019 July 31, 2018 July 31, 2019 July 31, 2018 Numerator: Net Income (Loss) $ 1,775,687 $ 1,997,610 $ 4,988,194 $ 1,752,346 Denominator: Basic weighted average common shares outstanding 10,679,876 10,415,416 10,670,642 9,976,917 Conversion of Series C Preferred Stock - 200,000 - 200,000 Diluted outstanding shares 10,679,876 10,615,416 10,670,642 10,176,917 Earnings from continuing operations Basic $ 0.17 $ 0.19 $ 0.47 $ 0.18 Diluted $ 0.17 $ 0.19 $ 0.47 $ 0.17

Segment Analysis (Tables)

Segment Analysis (Tables)	9 Months Ended
	Jul. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Information concerning principal geographic areas is presented below according to the area where the activity has taken place for the three and nine months ended July 31, 2019 and 2018 respectively: Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Three Months Ended July 31, 2019 Revenues from External Customers $ 3,231,510 $ 3,436,988 $ - $ 6,668,498 Cost of Revenues 592,585 1,528,095 - 2,120,680 Gross Profit 2,638,925 1,908,893 - 4,547,818 Research & Development 503,540 32,991 95,159 631,690 Selling, General & Administrative 590,981 659,398 525,530 1,775,909 Total Operating Expenses 1,094,521 692,389 620,689 2,407,599 Income (Loss) from Operations 1,544,404 1,216,504 (620,689 ) 2,140,219 Other Income (Expense) Other Income 6,398 - - 6,398 Interest Expense (2,197 ) (2,150 ) (15,928 ) (20,275 ) Total Other Income (Expense) 4,201 (2,150 ) (15,928 ) (13,877 ) Net Income (Loss) before Income Taxes 1,548,605 1,214,354 (636,617 ) 2,126,342 Income Tax Benefit (Expense) Current Tax Benefit (Expense) (5,172 ) 4,460 674 (38 ) Deferred Tax (Expense) (47,768 ) (214,144 ) (88,705 ) (350,617 ) Total Income Tax (Expense) (52,940 ) (209,684 ) (88,031 ) (350,655 ) Net Income (Loss) $ 1,495,665 $ 1,004,670 $ (724,648 ) $ 1,775,687 Supplemental Disclosures Total Assets $ 18,200,970 $ 13,876,685 $ 1,266,254 $ 33,343,909 Total Liabilities $ 2,169,195 $ 870,492 $ 1,388,509 $ 4,428,196 Revenues from Intercompany Sales - eliminated from sales above $ 136,128 $ 75,729 $ 675,000 $ 886,857 Depreciation and Amortization $ 132,392 $ 63,724 $ 4,078 $ 200,194 (Sales) Purchases of Long-lived Assets $ (262,062 ) $ 5,937 $ 34,303 $ (221,822 ) Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Three Months Ended July 31, 2018 Revenues from External Customers $ 3,926,491 $ 1,851,982 $ - $ 5,778,473 Cost of Revenues 650,669 933,531 - 1,584,200 Gross Profit 3,275,822 918,451 - 4,194,273 Research & Development 440,202 90,190 - 530,392 Selling, General & Administrative 723,155 566,692 350,995 1,640,842 Total Operating Expenses 1,163,357 656,882 350,995 2,171,234 Income (Loss) from Operations 2,112,465 261,569 (350,995 ) 2,023,039 Other Income (Expense) Other Income 3,941 31 - 3,972 Interest Expense (2,480 ) (15,802 ) (11,139 ) (29,421 ) Total Other Income (Expense) 1,461 (15,771 ) (11,139 ) (25,449 ) Net Income (Loss) before Income Taxes 2,113,926 245,798 (362,134 ) 1,997,590 Current Tax Benefit - - 20 20 Net Income (Loss) $ 2,113,926 $ 245,798 $ (362,114 ) $ 1,997,610 Supplemental Disclosures Total Assets $ 14,016,131 $ 11,378,558 $ 553,927 $ 25,948,616 Total Liabilities $ 865,138 $ 1,660,291 $ 1,891,374 $ 4,416,803 Revenues from Intercompany Sales - eliminated from sales above $ 44,180 $ 183,800 $ 675,000 $ 902,980 Depreciation and Amortization $ 137,426 $ 66,435 $ 5,728 $ 209,589 Purchases of Long-lived Assets $ 232,575 $ (6,122 ) $ 30,667 $ 257,120 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Nine Months Ended July 31, 2019 Revenues from External Customers $ 9,481,229 $ 9,729,049 $ - $ 19,210,278 Cost of Revenues 1,798,800 4,605,926 - 6,404,726 Gross Profit 7,682,429 5,123,123 - 12,805,552 Research & Development 1,533,544 130,205 284,494 1,948,243 Selling, General & Administrative 2,089,442 1,864,503 1,137,921 5,091,866 Total Operating Expenses 3,622,986 1,994,708 1,422,415 7,040,109 Income (Loss) from Operations 4,059,443 3,128,415 (1,422,415 ) 5,765,443 Other Income (Expense) Other Income 65,467 - - 65,467 Interest (Expense) (8,063 ) (11,849 ) (49,771 ) (69,683 ) Total Other Income (Expense) 57,404 (11,849 ) (49,771 ) (4,216 ) Net Income (Loss) before Income Taxes 4,116,847 3,116,566 (1,472,186 ) 5,761,227 Income Tax Benefit (Expense) Current Tax Benefit 20,496 39,445 18,013 77,954 Deferred Tax (Expense) (199,073 ) (447,540 ) (204,374 ) (850,987 ) Total Income Tax (Expense) (178,577 ) (408,095 ) (186,361 ) (773,033 ) Net Income (Loss) $ 3,938,270 $ 2,708,471 $ (1,658,547 ) $ 4,988,194 Supplemental Disclosures Total Assets $ 18,200,970 $ 13,876,685 $ 1,266,254 $ 33,343,909 Total Liabilities $ 2,169,195 $ 870,492 $ 1,388,509 $ 4,428,196 Revenues from Intercompany Sales - eliminated from sales above $ 1,044,595 $ 304,658 $ 2,025,000 $ 3,374,253 Depreciation and Amortization $ 391,516 $ 191,402 $ 11,688 $ 594,606 Purchases of Long-lived Assets $ 1,803,206 $ 40,383 $ 34,303 $ 1,877,892 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Nine Months Ended July 31, 2018 Revenues from External Customers $ 8,142,724 $ 4,212,702 $ - $ 12,355,426 Cost of Revenues 1,298,022 2,173,143 - 3,471,165 Gross Profit 6,844,702 2,039,559 - 8,884,261 Research & Development 1,385,994 455,414 - 1,841,408 Selling, General & Administrative 2,150,168 1,813,357 1,208,704 5,172,229 Total Operating Expenses 3,536,162 2,268,771 1,208,704 7,013,637 Income (Loss) from Operations 3,308,540 (229,212 ) (1,208,704 ) 1,870,624 Other Income (Expense) Other Income 92,514 2,128 - 94,642 Interest Expense (9,289 ) (45,503 ) (158,118 ) (212,910 ) Total Other Income (Expense) 83,225 (43,375 ) (158,118 ) (118,268 ) Net Income (Loss) before Income Taxes 3,391,765 (272,587 ) (1,366,822 ) 1,752,356 Current Tax Benefit (Expense) (6,596 ) - 6,586 (10 ) Net Income (Loss) $ 3,385,169 $ (272,587 ) $ (1,360,236 ) $ 1,752,346 Supplemental Disclosures Total Assets $ 14,016,131 $ 11,378,558 $ 553,927 $ 25,948,616 Total Liabilities $ 865,138 $ 1,660,291 $ 1,891,374 $ 4,416,803 Revenues from Intercompany Sales - eliminated from sales above $ 831,352 $ 196,103 $ 2,025,000 $ 3,052,455 Depreciation and Amortization $ 374,076 $ 218,649 $ 12,920 $ 605,645 Purchases of Long-lived Assets $ 486,604 $ 43,839 $ 55,452 $ 585,895
Schedule of Disaggregate of Revenue from Contracts for Sale with Customers by Geographic Location	For the Three Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 493,261 $ - $ 493,261 Equipment Rentals 221,567 - 221,567 Software Sales - - - Engineering Parts - 2,259,717 2,259,717 Services 95,698 767,024 862,722 Europe Equipment Sales 418,557 3,235 421,792 Equipment Rentals 322,887 - 322,887 Software Sales 19,259 - 19,259 Engineering Parts - 347,459 347,459 Services 150,216 59,553 209,769 Australia/Asia Equipment Sales 648,640 - 648,640 Equipment Rentals 260,474 - 260,474 Software Sales 81,541 - 81,541 Services 204,273 - 204,273 Middle East & Africa Equipment Sales 290,386 - 290,386 Equipment Rentals - - - Software Sales 21,261 - 21,261 Services 3,490 - 3,490 Total Net Sales $ 3,231,510 $ 3,436,988 $ 6,668,498 For the Three Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 810,526 $ 3,026,741 $ 3,837,267 Europe 910,919 410,247 1,321,166 Australia/Asia 1,194,928 - 1,194,928 Middle East & Africa 315,137 - 315,137 Total Net Sales $ 3,231,510 $ 3,436,988 $ 6,668,498 For the Three Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 1,850,844 $ 3,235 $ 1,854,079 Equipment Rentals 804,928 - 804,928 Software Sales 122,061 - 122,061 Engineering Parts - 2,607,176 2,607,176 Services 453,677 826,577 1,280,254 Total Net Sales $ 3,231,510 $ 3,436,988 $ 6,668,498 For the Three Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 118,488 $ - $ 118,488 Equipment Rentals 323,763 - 323,763 Software Sales 18,625 - 18,625 Engineering Parts - 1,456,962 1,456,962 Services 134,870 7,496 142,366 Europe Equipment Sales 109,410 - 109,410 Equipment Rentals 737,126 - 737,126 Software Sales 29,256 - 29,256 Engineering Parts - 387,524 387,524 Services 323,022 - 323,022 Australia/Asia Equipment Sales 1,175,276 - 1,175,276 Equipment Rentals (3,245 ) - (3,245 ) Software Sales 211,193 - 211,193 Services 136,395 - 136,395 Middle East & Africa Equipment Sales 584,417 - 584,417 Equipment Rentals - - - Software Sales 14,223 - 14,223 Services 13,672 - 13,672 Total Net Sales $ 3,926,491 $ 1,851,982 $ 5,778,473 For the Three Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 595,746 $ 1,464,458 $ 2,060,204 Europe 1,198,814 387,524 1,586,338 Australia/Asia 1,519,619 - 1,519,619 Middle East & Africa 612,312 - 612,312 Total Net Sales $ 3,926,491 $ 1,851,982 $ 5,778,473 For the Three Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 1,987,591 $ - $ 1,987,591 Equipment Rentals 1,057,644 - 1,057,644 Software Sales 273,297 - 273,297 Engineering Parts - 1,844,486 1,844,486 Services 607,959 7,496 615,455 Total Net Sales $ 3,926,491 $ 1,851,982 $ 5,778,473 For the Nine Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 560,339 $ 57,545 $ 617,884 Equipment Rentals 446,594 - 446,594 Software Sales 7,250 - 7,250 Engineering Parts - 6,827,221 6,827,221 Services 915,837 1,646,694 2,562,531 Europe Equipment Sales 1,189,162 114,214 1,303,376 Equipment Rentals 974,394 - 974,394 Software Sales 167,903 - 167,903 Engineering Parts - 1,023,822 1,023,822 Services 628,235 59,553 687,788 Australia/Asia Equipment Sales 2,707,978 - 2,707,978 Equipment Rentals 518,392 - 518,392 Software Sales 283,419 - 283,419 Services 543,314 - 543,314 Middle East & Africa Equipment Sales 300,859 - 300,859 Equipment Rentals 36,130 - 36,130 Software Sales 58,826 - 58,826 Services 142,597 - 142,597 Total Net Sales $ 9,481,229 $ 9,729,049 $ 19,210,278 For the Nine Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 1,930,020 $ 8,531,460 $ 10,461,480 Europe 2,959,694 1,197,589 4,157,283 Australia/Asia 4,053,103 - 4,053,103 Middle East & Africa 538,412 - 538,412 Total Net Sales $ 9,481,229 $ 9,729,049 $ 19,210,278 For the Nine Months Ended July 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 4,758,338 $ 171,759 $ 4,930,097 Equipment Rentals 1,975,510 - 1,975,510 Software Sales 517,398 - 517,398 Engineering Parts - 7,851,043 7,851,043 Services 2,229,983 1,706,247 3,936,230 Total Net Sales $ 9,481,229 $ 9,729,049 $ 19,210,278 For the Nine Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 712,945 $ - $ 712,945 Equipment Rentals 457,690 - 457,690 Software Sales 52,145 - 52,145 Engineering Parts - 2,826,029 2,826,029 Services 730,453 95,082 825,535 Europe Equipment Sales 1,030,167 192,078 1,222,245 Equipment Rentals 1,065,417 - 1,065,417 Software Sales 176,657 - 176,657 Engineering Parts - 1,099,513 1,099,513 Services 611,154 - 611,154 Australia/Asia Equipment Sales 1,590,510 - 1,590,510 Equipment Rentals 69,019 - 69,019 Software Sales 369,167 - 369,167 Services 221,940 - 221,940 Middle East & Africa Equipment Sales 905,933 - 905,933 Equipment Rentals 11,444 - 11,444 Software Sales 75,519 - 75,519 Services 62,564 - 62,564 Total Net Sales $ 8,142,724 $ 4,212,702 $ 12,355,426 For the Nine Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 1,953,233 $ 2,921,111 $ 4,874,344 Europe 2,883,395 1,291,591 4,174,986 Australia/Asia 2,250,636 - 2,250,636 Middle East & Africa 1,055,460 - 1,055,460 Total Net Sales $ 8,142,724 $ 4,212,702 $ 12,355,426 For the Nine Months Ended July 31, 2018 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 4,239,555 $ 192,078 $ 4,431,633 Equipment Rentals 1,603,570 - 1,603,570 Software Sales 673,488 - 673,488 Engineering Parts - 3,925,542 3,925,542 Services 1,626,111 95,082 1,721,193 Total Net Sales $ 8,142,724 $ 4,212,702 $ 12,355,426

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Net Operating Loss Carryforwards	Such NOL carryforwards expire as follows: 2028 $ 2,707,158 2029 5,646,028 Total $ 8,353,186
Schedule of Components of Deferred Tax Assets	Components of deferred tax assets as of July 31, 2019 and October 31, 2018 are as follows: July 31, 2019 October 31, 2018 Net operating loss carry-forward benefit $ 903,182 $ 1,754,169 Net deferred tax asset $ 903,182 $ 1,754,169

Inventory - Components of Inven

Inventory - Components of Inventory (Details) - USD ($)	Jul. 31, 2019	Oct. 31, 2018
Inventory, Net [Abstract]
Raw materials and parts	$ 3,251,696	$ 2,887,505
Work in progress	603,343	472,204
Finished goods	499,781	463,534
Total Inventory	$ 4,354,820	$ 3,823,243

Fixed Assets - Schedule of Fix

Fixed Assets - Schedule of Fixed Assets (Details) - USD ($)	Jul. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Property and Equipment - Totals	$ 9,213,925	$ 8,181,528	$ 7,512,692
Less: accumulated depreciation	(3,451,586)	(2,935,345)	(2,299,411)
Property and Equipment - net	5,762,339	5,246,183	5,213,281
Acquisitions [Member]
Property and Equipment - Totals	1,843,589	892,140
Less: accumulated depreciation	(566,089)	(758,408)
Property and Equipment - net	1,277,500	133,732
Disposals [Member]
Property and Equipment - Totals	(811,192)	(223,304)
Less: accumulated depreciation	49,848	122,474
Property and Equipment - net	(761,344)	(100,830)
Buildings [Member]
Property and Equipment - Totals	4,493,069	3,996,860	4,082,346
Buildings [Member] | Acquisitions [Member]
Property and Equipment - Totals	1,226,209
Buildings [Member] | Disposals [Member]
Property and Equipment - Totals	(730,000)	(85,486)
Land [Member]
Property and Equipment - Totals	200,000	200,000	200,000
Land [Member] | Acquisitions [Member]
Property and Equipment - Totals
Land [Member] | Disposals [Member]
Property and Equipment - Totals
Office Machinery and Equipment [Member]
Property and Equipment - Totals	3,386,622	2,875,443	2,064,449
Office Machinery and Equipment [Member] | Acquisitions [Member]
Property and Equipment - Totals	592,371	853,796
Office Machinery and Equipment [Member] | Disposals [Member]
Property and Equipment - Totals	(81,192)	(42,802)
Furniture, Fixtures and Improvements [Member]
Property and Equipment - Totals	1,134,234	1,109,225	$ 1,165,897
Furniture, Fixtures and Improvements [Member] | Acquisitions [Member]
Property and Equipment - Totals	25,009	38,344
Furniture, Fixtures and Improvements [Member] | Disposals [Member]
Property and Equipment - Totals		$ (95,016)

Other Current Assets - Summary

Other Current Assets - Summary of Other Current Assets (Details) - USD ($)	Jul. 31, 2019	Oct. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deposits	$ 131,020	$ 21,007
Other receivables	76,995	141,294
Alternative minimum tax receivable	75,004
VAT tax receivables	206,576	57,123
Total Other Current Assets	$ 489,595	$ 219,424

Contracts in Progress (Details

Contracts in Progress (Details Narrative) - USD ($)	9 Months Ended
	Jul. 31, 2019	Oct. 31, 2018
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 4,313,610	$ 3,013,116
Deferred revenue	1,033,314	651,820
Billings in excess component of deferred revenue	$ 84,776	0
Product warrant description	Revenue received as part of sales of products via our Products Segment includes a provision for warranty or TLS. TLS offers the customer extended post-sales technical support along with software and hardware assurances. These post-sales obligations (warranty and TLS) are treated as deferred revenue and are amortized over the period when the contractual obligations subsist, which for warranty is 12 months and TLS varies between 36 and 60 months depending on the package purchased by the customer.
Component of deferred revenue	$ 948,538	$ 651,820

Concentrations (Details Narrati

Concentrations (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018	Oct. 31, 2018
Percentage of sales from customers	10.00%		10.00%
Accounts receivable from customer	$ 3,851,791		$ 3,851,791		$ 3,326,623
One Customer [Member]
Percentage of sales from customers		10.00%	10.00%
Revenue [Member] | Customer Concentration Risk [Member]
Percentage of sales from customers	32.00%		28.00%
Total net sales	$ 2,136,570		$ 5,345,790
Revenue [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Percentage of sales from customers		19.00%		17.00%
Total net sales		$ 1,113,389		$ 2,138,815
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer [Member]
Percentage of sales from customers	21.00%
Accounts receivable from customer	$ 820,642		$ 820,642

Loans and Notes Payable - Sched

Loans and Notes Payable - Schedule of Loans and Notes Payable (Details) - USD ($)	Jul. 31, 2019	Oct. 31, 2018
Total	$ 1,177,797	$ 2,024,239
Less: current portion	(481,633)	(964,695)
Total Long Term Loans and Notes Payable	696,164	1,059,544
Secured Debt [Member]
Total	1,177,797	1,524,239
Unsecured Debt [Member]
Total		$ 500,000

Loans and Notes Payable - Sch_2

Loans and Notes Payable - Schedule of Loans and Notes Payable (Details) (Parenthetical) - USD ($)	9 Months Ended	12 Months Ended
	Jul. 31, 2019	Oct. 31, 2018
Secured Debt [Member]
Loan, annual interest rate	4.56%	4.56%
Loan interest payment, description	Secured note payable to HSBC NA with interest payable on the 28th day of each month at 4.56% per annum.	Secured note payable to HSBC NA with interest payable on the 28th day of each month at 4.56% per annum.
Principal and interest payment	$ 43,777	$ 43,777
Unsecured Debt [Member]
Debt, interest rate	4.50%	4.50%
Secured debenture, maturity date	Dec. 31, 2018	Dec. 31, 2018

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($)	3 Months Ended						9 Months Ended
	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
NET INCOME PER SHARE:
Net Income (Loss)	$ 1,775,687	$ 1,973,494	$ 1,239,013	$ 1,997,610	$ (77,325)	$ (167,939)	$ 4,988,194	$ 1,752,346
Basic weighted average common shares outstanding	10,679,876			10,415,416			10,670,642	9,976,917
Conversion of Series C Preferred Stock				200,000				200,000
Diluted outstanding shares	10,679,876			10,615,416			10,670,642	10,176,917
Earnings from continuing operations, Basic	$ 0.17			$ 0.19			$ 0.47	$ 0.18
Earnings from continuing operations, Diluted	$ 0.17			$ 0.19			$ 0.47	$ 0.17

Segment Analysis (Details Narra

Segment Analysis (Details Narrative)	9 Months Ended
	Jul. 31, 2019Integer
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Analysis - Schedule of

Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)	3 Months Ended						9 Months Ended
	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Jul. 31, 2019	Jul. 31, 2018	Oct. 31, 2018
Revenues from External Customers	$ 6,668,498			$ 5,778,473			$ 19,210,278	$ 12,355,426
Cost of Revenues	2,120,680			1,584,200			6,404,726	3,471,165
Gross Profit	4,547,818			4,194,273			12,805,552	8,884,261
Research & Development	631,690			530,392			1,948,243	1,841,408
Selling, General & Administrative	1,775,909			1,640,842			5,091,866	5,172,229
Total Operating Expenses	2,407,599			2,171,234			7,040,109	7,013,637
Income (Loss) from Operations	2,140,219			2,023,039			5,765,443	1,870,624
Other Income	6,398			3,972			65,467	94,642
Interest Expense	(20,275)			(29,421)			(69,683)	(212,910)
Total Other Income (Expense)	(13,877)			(25,449)			(4,216)	(118,268)
Net Income (Loss) before Income Taxes	2,126,342			1,997,590			5,761,227	1,752,356
Current Tax Benefit (Expense)	(38)			20			77,954	(10)
Deferred Tax (Expense)	(350,617)						(850,987)
Total Income Tax (Expense)	(350,655)			20			(773,033)	(10)
Net Income (Loss)	1,775,687	$ 1,973,494	$ 1,239,013	1,997,610	$ (77,325)	$ (167,939)	4,988,194	1,752,346
Total Assets	33,343,909			25,948,616			33,343,909	25,948,616	$ 28,736,611
Total Liabilities	4,428,196			4,416,803			4,428,196	4,416,803	$ 4,349,661
Revenues from Intercompany Sales - eliminated from sales above	886,857			902,980			3,374,253	3,052,455
Depreciation and Amortization	200,194			209,589			594,606	605,645
(Sales) Purchases of Long-lived Assets	(221,822)			257,120			1,843,589	442,041
Marine Technology Business (Products) [Member]
Revenues from External Customers	3,231,510			3,926,491			9,481,229	8,142,724
Cost of Revenues	592,585			650,669			1,798,800	1,298,022
Gross Profit	2,638,925			3,275,822			7,682,429	6,844,702
Research & Development	503,540			440,202			1,533,544	1,385,994
Selling, General & Administrative	590,981			723,155			2,089,442	2,150,168
Total Operating Expenses	1,094,521			1,163,357			3,622,986	3,536,162
Income (Loss) from Operations	1,544,404			2,112,465			4,059,443	3,308,540
Other Income	6,398			3,941			65,467	92,514
Interest Expense	(2,197)			(2,480)			(8,063)	(9,289)
Total Other Income (Expense)	4,201			1,461			57,404	83,225
Net Income (Loss) before Income Taxes	1,548,605			2,113,926			4,116,847	3,391,765
Current Tax Benefit (Expense)	(5,172)						20,496	(6,596)
Deferred Tax (Expense)	(47,768)						(199,073)
Total Income Tax (Expense)	(52,940)						(178,577)
Net Income (Loss)	1,495,665			2,113,926			3,938,270	3,385,169
Total Assets	18,200,970			14,016,131			18,200,970	14,016,131
Total Liabilities	2,169,195			865,138			2,169,195	865,138
Revenues from Intercompany Sales - eliminated from sales above	136,128			44,180			1,044,595	831,352
Depreciation and Amortization	132,392			137,426			391,516	374,076
(Sales) Purchases of Long-lived Assets	(262,062)			232,575			1,803,206	486,604
Marine Engineering Business (Services) [Member]
Revenues from External Customers	3,436,988			1,851,982			9,729,049	4,212,702
Cost of Revenues	1,528,095			933,531			4,605,926	2,173,143
Gross Profit	1,908,893			918,451			5,123,123	2,039,559
Research & Development	32,991			90,190			130,205	455,414
Selling, General & Administrative	659,398			566,692			1,864,503	1,813,357
Total Operating Expenses	692,389			656,882			1,994,708	2,268,771
Income (Loss) from Operations	1,216,504			261,569			3,128,415	(229,212)
Other Income				31				2,128
Interest Expense	(2,150)			(15,802)			(11,849)	(45,503)
Total Other Income (Expense)	(2,150)			(15,771)			(11,849)	(43,375)
Net Income (Loss) before Income Taxes	1,214,354			245,798			3,116,566	(272,587)
Current Tax Benefit (Expense)	4,460						39,445
Deferred Tax (Expense)	(214,144)						(447,540)
Total Income Tax (Expense)	(209,684)						(408,095)
Net Income (Loss)	1,004,670			245,798			2,708,471	(272,587)
Total Assets	13,876,685			11,378,558			13,876,685	11,378,558
Total Liabilities	870,492			1,660,291			870,492	1,660,291
Revenues from Intercompany Sales - eliminated from sales above	75,729			183,800			304,658	196,103
Depreciation and Amortization	63,724			66,435			191,402	218,649
(Sales) Purchases of Long-lived Assets	5,937			(6,122)			40,383	43,839
Overhead [Member]
Revenues from External Customers
Cost of Revenues
Gross Profit
Research & Development	95,159						284,494
Selling, General & Administrative	525,530			350,995			1,137,921	1,208,704
Total Operating Expenses	620,689			350,995			1,422,415	1,208,704
Income (Loss) from Operations	(620,689)			(350,995)			(1,422,415)	(1,208,704)
Other Income
Interest Expense	(15,928)			(11,139)			(49,771)	(158,118)
Total Other Income (Expense)	(15,928)			(11,139)			(49,771)	(158,118)
Net Income (Loss) before Income Taxes	(636,617)			(362,134)			(1,472,186)	(1,366,822)
Current Tax Benefit (Expense)	674			20			18,013	6,586
Deferred Tax (Expense)	(88,705)						(204,374)
Total Income Tax (Expense)	(88,031)						(186,361)
Net Income (Loss)	(724,648)			(362,114)			(1,658,547)	(1,360,236)
Total Assets	1,266,254			553,927			1,266,254	553,927
Total Liabilities	1,388,509			1,891,374			1,388,509	1,891,374
Revenues from Intercompany Sales - eliminated from sales above	675,000			675,000			2,025,000	2,025,000
Depreciation and Amortization	4,078			5,728			11,688	12,920
(Sales) Purchases of Long-lived Assets	$ 34,303			$ 30,667			$ 34,303	$ 55,452

Segment Analysis - Schedule o_2

Segment Analysis - Schedule of Disaggregate of Revenue from Contracts for Sale with Customers by Geographic Location (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Total Net Sales	$ 6,668,498	$ 5,778,473	$ 19,210,278	$ 12,355,426
Equipment Sales [Member]
Total Net Sales	1,854,079	1,987,591	4,930,097	4,431,633
Equipment Rentals [Member]
Total Net Sales	122,061	1,057,644	1,975,510	1,603,570
Software Sales [Member]
Total Net Sales	804,928	273,297	517,398	673,488
Engineering Parts [Member]
Total Net Sales	2,607,176	1,844,486	7,851,043	3,925,542
Services [Member]
Total Net Sales	1,280,254	615,455	3,936,230	1,721,193
Americas [Member]
Total Net Sales	3,837,267	2,060,204	10,461,480	4,874,344
Americas [Member] | Equipment Sales [Member]
Total Net Sales	493,261	118,488	617,884	712,945
Americas [Member] | Equipment Rentals [Member]
Total Net Sales	221,567	323,763	446,594	457,690
Americas [Member] | Software Sales [Member]
Total Net Sales		18,625	7,250	52,145
Americas [Member] | Engineering Parts [Member]
Total Net Sales	2,259,717	1,456,962	6,827,221	2,826,029
Americas [Member] | Services [Member]
Total Net Sales	862,722	142,366	2,562,531	825,535
Europe [Member]
Total Net Sales	1,321,166	1,586,338	4,157,283	4,174,986
Europe [Member] | Equipment Sales [Member]
Total Net Sales	421,792	109,410	1,303,376	1,222,245
Europe [Member] | Equipment Rentals [Member]
Total Net Sales	322,887	737,126	974,394	1,065,417
Europe [Member] | Software Sales [Member]
Total Net Sales	19,259	29,256	167,903	176,657
Europe [Member] | Engineering Parts [Member]
Total Net Sales	347,459	387,524	1,023,822	1,099,513
Europe [Member] | Services [Member]
Total Net Sales	209,769	323,022	687,788	611,154
Australia/Asia [Member]
Total Net Sales	1,194,928	1,519,619		2,250,636
Australia/Asia [Member]
Total Net Sales			4,053,103
Australia/Asia [Member] | Equipment Sales [Member]
Total Net Sales	648,640	1,175,276	2,707,978	1,590,510
Australia/Asia [Member] | Equipment Rentals [Member]
Total Net Sales	260,474	(3,245)	518,392	69,019
Australia/Asia [Member] | Software Sales [Member]
Total Net Sales	81,541	211,193	283,419	369,167
Australia/Asia [Member] | Services [Member]
Total Net Sales	204,273	136,395	543,314	221,940
Middle East & Africa [Member]
Total Net Sales	315,137	612,312	538,412	1,055,460
Middle East & Africa [Member] | Equipment Sales [Member]
Total Net Sales	290,386	584,417	300,859	905,933
Middle East & Africa [Member] | Equipment Rentals [Member]
Total Net Sales			36,130	11,444
Middle East & Africa [Member] | Software Sales [Member]
Total Net Sales	21,261	14,223	58,826	75,519
Middle East & Africa [Member] | Services [Member]
Total Net Sales	3,490	13,672	142,597	62,564
Marine Technology Business (Products) [Member]
Total Net Sales	3,231,510	3,926,491	9,481,229	8,142,724
Marine Technology Business (Products) [Member] | Equipment Sales [Member]
Total Net Sales	1,850,844	1,987,591	4,758,338	4,239,555
Marine Technology Business (Products) [Member] | Equipment Rentals [Member]
Total Net Sales	804,928	1,057,644	1,975,510	1,603,570
Marine Technology Business (Products) [Member] | Software Sales [Member]
Total Net Sales	122,061	273,297	517,398	673,488
Marine Technology Business (Products) [Member] | Engineering Parts [Member]
Total Net Sales
Marine Technology Business (Products) [Member] | Services [Member]
Total Net Sales	453,677	607,959	2,229,983	1,626,111
Marine Technology Business (Products) [Member] | Americas [Member]
Total Net Sales	810,526	595,746	1,930,020	1,953,233
Marine Technology Business (Products) [Member] | Americas [Member] | Equipment Sales [Member]
Total Net Sales	493,261	118,488	560,339	712,945
Marine Technology Business (Products) [Member] | Americas [Member] | Equipment Rentals [Member]
Total Net Sales	221,567	323,763	446,594	457,690
Marine Technology Business (Products) [Member] | Americas [Member] | Software Sales [Member]
Total Net Sales		18,625	7,250	52,145
Marine Technology Business (Products) [Member] | Americas [Member] | Engineering Parts [Member]
Total Net Sales
Marine Technology Business (Products) [Member] | Americas [Member] | Services [Member]
Total Net Sales	95,698	134,870	915,837	730,453
Marine Technology Business (Products) [Member] | Europe [Member]
Total Net Sales	910,919	1,198,814	2,959,694	2,883,395
Marine Technology Business (Products) [Member] | Europe [Member] | Equipment Sales [Member]
Total Net Sales	418,557	109,410	1,189,162	1,030,167
Marine Technology Business (Products) [Member] | Europe [Member] | Equipment Rentals [Member]
Total Net Sales	322,887	737,126	974,394	1,065,417
Marine Technology Business (Products) [Member] | Europe [Member] | Software Sales [Member]
Total Net Sales	19,259	29,256	167,903	176,657
Marine Technology Business (Products) [Member] | Europe [Member] | Engineering Parts [Member]
Total Net Sales
Marine Technology Business (Products) [Member] | Europe [Member] | Services [Member]
Total Net Sales	150,216	323,022	628,235	611,154
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Equipment Sales [Member]
Total Net Sales	648,640	1,175,276		1,590,510
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Services [Member]
Total Net Sales	204,273	136,395		221,940
Marine Technology Business (Products) [Member] | Australia/Asia [Member]
Total Net Sales	1,194,928	1,519,619	4,053,103	2,250,636
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Equipment Sales [Member]
Total Net Sales			2,707,978
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Equipment Rentals [Member]
Total Net Sales	260,474	(3,245)	518,392	69,019
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Software Sales [Member]
Total Net Sales	81,541	211,193	283,419	369,167
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Services [Member]
Total Net Sales			543,314
Marine Technology Business (Products) [Member] | Middle East & Africa [Member]
Total Net Sales	315,137	612,312	538,412	1,055,460
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Equipment Sales [Member]
Total Net Sales	290,386	584,417	300,859	905,933
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Equipment Rentals [Member]
Total Net Sales			36,130	11,444
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Software Sales [Member]
Total Net Sales	21,261	14,223	58,826	75,519
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Services [Member]
Total Net Sales	3,490	13,672	142,597	62,564
Marine Engineering Business (Services) [Member]
Total Net Sales	3,436,988	1,851,982	9,729,049	4,212,702
Marine Engineering Business (Services) [Member] | Equipment Sales [Member]
Total Net Sales	3,235		171,759	192,078
Marine Engineering Business (Services) [Member] | Equipment Rentals [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Software Sales [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Engineering Parts [Member]
Total Net Sales	2,607,176	1,844,486	7,851,043	3,925,542
Marine Engineering Business (Services) [Member] | Services [Member]
Total Net Sales	826,577	7,496	1,706,247	95,082
Marine Engineering Business (Services) [Member] | Americas [Member]
Total Net Sales	3,026,741	1,464,458	8,531,460	2,921,111
Marine Engineering Business (Services) [Member] | Americas [Member] | Equipment Sales [Member]
Total Net Sales			57,545
Marine Engineering Business (Services) [Member] | Americas [Member] | Equipment Rentals [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Americas [Member] | Software Sales [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Americas [Member] | Engineering Parts [Member]
Total Net Sales	2,259,717	1,456,962	6,827,221	2,826,029
Marine Engineering Business (Services) [Member] | Americas [Member] | Services [Member]
Total Net Sales	767,024	7,496	1,646,694	95,082
Marine Engineering Business (Services) [Member] | Europe [Member]
Total Net Sales	410,247	387,524	1,197,589	1,291,591
Marine Engineering Business (Services) [Member] | Europe [Member] | Equipment Sales [Member]
Total Net Sales	3,235		114,214	192,078
Marine Engineering Business (Services) [Member] | Europe [Member] | Equipment Rentals [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Europe [Member] | Software Sales [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Europe [Member] | Engineering Parts [Member]
Total Net Sales	347,459	387,524	1,023,822	1,099,513
Marine Engineering Business (Services) [Member] | Europe [Member] | Services [Member]
Total Net Sales	59,553		59,553
Marine Engineering Business (Services) [Member] | Australia/Asia [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Australia/Asia [Member] | Services [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Australia/Asia [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Australia/Asia [Member] | Equipment Sales [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Australia/Asia [Member] | Equipment Rentals [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Australia/Asia [Member] | Software Sales [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Australia/Asia [Member] | Services [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Middle East & Africa [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Middle East & Africa [Member] | Equipment Sales [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Middle East & Africa [Member] | Equipment Rentals [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Middle East & Africa [Member] | Software Sales [Member]
Total Net Sales
Marine Engineering Business (Services) [Member] | Middle East & Africa [Member] | Services [Member]
Total Net Sales

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2018	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Net operating loss	$ 8,353,186
Net operating loss, expiration year	20 years
Net operating loss carry-forward	$ 1,754,169	$ 903,182
Alternative minimum tax refund	$ 7,840	$ 77,754

Income Taxes - Schedule of Net

Income Taxes - Schedule of Net Operating Loss Carryforwards (Details)	Oct. 31, 2018USD ($)
NOL carryforwards	$ 8,353,186
2028 [Member]
NOL carryforwards	2,707,158
2029 [Member]
NOL carryforwards	$ 5,646,028

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Deferred Tax Assets (Details) - USD ($)	Jul. 31, 2019	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Net operating loss carry-forward benefit	$ 903,182	$ 1,754,169
Net deferred tax asset	$ 903,182	$ 1,754,169

Capital Stock (Details Narrativ

Capital Stock (Details Narrative) - USD ($)	Jun. 24, 2019	May 17, 2019	Feb. 03, 2019	Nov. 16, 2018
Number of shares issued during the period				23,965
Share price				$ 4.40
Number of shares issued during the period, value				$ 105,446
Proceeds from disgorgement representing short swing profits		$ 166,514
Director [Member]
Number of shares issued during the period			7,143
Share price			$ 5.92
Consultant [Member]
Share price	$ 14.59
Number of shares issued for services during the period	20,000