Coda Octopus (CODA) 10-Q 15 Jun 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Apr. 30, 2020	Jun. 15, 2020
Document And Entity Information
Entity Registrant Name	Coda Octopus Group, Inc.
Entity Central Index Key	0001334325
Document Type	10-Q
Document Period End Date	Apr. 30, 2020
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 Shell Company	false
Entity Common Stock, Shares Outstanding		10,751,881
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Apr. 30, 2020	Oct. 31, 2019
CURRENT ASSETS
Cash	$ 12,808,662	$ 11,721,683
Accounts Receivable, net	3,150,117	4,431,971
Inventory	7,511,958	5,350,514
Unbilled Receivables	2,021,496	2,279,362
Other Current Assets	277,892	298,187
Prepaid Expenses	417,466	198,140
Total Current Assets	26,187,591	24,279,857
FIXED ASSETS
Property and Equipment, net	6,115,862	5,986,812
OTHER ASSETS
Goodwill and Other Intangibles, net	3,640,819	3,612,891
Deferred Tax Asset	594,395	631,684
Total Other Assets	4,235,214	4,244,575
Total Assets	36,538,667	34,511,244
CURRENT LIABILITIES
Accounts Payable	1,085,297	1,273,490
Accrued Expenses and Other Current Liabilities	512,095	576,672
Notes Payable, current	673,835	487,140
Deferred Revenue, current	2,036,612	830,148
Total Current Liabilities	4,307,839	3,167,450
LONG TERM LIABILITIES
Deferred Revenue, long term	230,425	143,587
Notes Payable, long term	671,872	572,434
Total Long Term Liabilities	902,297	716,021
Total Liabilities	5,210,136	3,883,471
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value; 150,000,000 shares authorized, 10,721,881 shares issued and outstanding as of April 30, 2020 and October 31, 2019	10,723	10,723
Additional Paid-in Capital	59,609,964	59,521,665
Accumulated Other Comprehensive Loss	(2,604,642)	(2,135,408)
Accumulated Deficit	(25,687,514)	(26,769,207)
Total Stockholders' Equity	31,328,531	30,627,773
Total Liabilities and Stockholders' Equity	$ 36,538,667	$ 34,511,244

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2020	Oct. 31, 2019
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	10,721,881	10,721,881
Common stock, shares outstanding	10,721,881	10,721,881

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Income Statement [Abstract]
Net Revenues	$ 3,289,218	$ 6,783,272	$ 9,970,197	$ 12,541,780
Cost of Revenues	1,363,804	2,058,610	3,770,343	4,284,046
Gross Profit	1,925,414	4,724,662	6,199,854	8,257,734
OPERATING EXPENSES
Research & Development	713,641	745,227	1,641,906	1,316,553
Selling, General & Administrative	1,533,210	1,696,682	3,424,888	3,315,957
Total Operating Expenses	2,246,851	2,441,909	5,066,794	4,632,510
(LOSS) INCOME FROM OPERATIONS	(321,437)	2,282,753	1,133,060	3,625,224
OTHER INCOME (EXPENSE)
Other (Expense) Income	(311)	26,228	12,513	59,069
Interest Expense	(18,456)	(24,347)	(38,070)	(49,408)
Total Other (Expense) Income	(18,767)	1,881	(25,557)	9,661
NET (LOSS) INCOME BEFORE INCOME TAXES	(340,204)	2,284,634	1,107,503	3,634,885
INCOME TAX BENEFIT (EXPENSE)
Current Tax Benefit	34,826	24	11,479	77,991
Deferred Tax Benefit (Expense)	40,298	(311,164)	(37,289)	(500,369)
Total Income Tax Benefit (Expense)	75,124	(311,140)	(25,810)	(422,378)
NET (LOSS) INCOME	$ (265,080)	$ 1,973,494	$ 1,081,693	$ 3,212,507
NET (LOSS) INCOME PER SHARE:
Basic	$ (0.02)	$ 0.18	$ 0.10	$ 0.3
Diluted	$ (0.02)	$ 0.18	$ 0.10	$ 0.3
WEIGHTED AVERAGE SHARES:
Basic	10,721,881	10,671,443	10,721,881	10,665,970
Diluted	11,276,881	10,671,443	11,276,881	10,665,970
NET (LOSS) INCOME	$ (265,080)	$ 1,973,494	$ 1,081,693	$ 3,212,507
Foreign Currency Translation Adjustment	(553,985)	94,981	(469,234)	392,836
Total Other Comprehensive (Loss) Income	(553,985)	94,981	(469,234)	392,836
COMPREHENSIVE (LOSS) INCOME	$ (819,065)	$ 2,068,475	$ 612,459	$ 3,605,343

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
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					392,836
Net Income (Loss)					3,212,507
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
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 Investors
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
Balance at Oct. 31, 2019	$ 10,723	59,521,665	(2,135,408)	(26,769,207)	30,627,773
Balance, shares at Oct. 31, 2019	10,721,881
Foreign currency translation adjustment			84,751		84,751
Net Income (Loss)				1,346,773	1,346,773
Balance at Jan. 31, 2020	$ 10,723	59,521,665	(2,050,657)	(25,422,434)	32,059,297
Balance, shares at Jan. 31, 2020	10,721,881
Balance at Oct. 31, 2019	$ 10,723	59,521,665	(2,135,408)	(26,769,207)	30,627,773
Balance, shares at Oct. 31, 2019	10,721,881
Foreign currency translation adjustment					(469,234)
Net Income (Loss)					1,081,693
Balance at Apr. 30, 2020	$ 10,723	59,609,964	(2,604,642)	(25,687,514)	31,328,531
Balance, shares at Apr. 30, 2020	10,721,881
Balance at Jan. 31, 2020	$ 10,723	59,521,665	(2,050,657)	(25,422,434)	32,059,297
Balance, shares at Jan. 31, 2020	10,721,881
Stock based compensation		88,299			88,299
Foreign currency translation adjustment			(553,985)		(553,985)
Net Income (Loss)				(265,080)	(265,080)
Balance at Apr. 30, 2020	$ 10,723	$ 59,609,964	$ (2,604,642)	$ (25,687,514)	$ 31,328,531
Balance, shares at Apr. 30, 2020	10,721,881

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 1,081,693	$ 3,212,507
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	333,420	394,412
Stock based compensation	88,299	42,289
Gain on the sale of property and equipment		(33,118)
(Increase) decrease in operating assets:
Accounts receivable	1,281,854	129,720
Inventory	(2,161,444)	(341,846)
Unbilled receivables	257,866	(769,669)
Other current assets	20,295	(60,424)
Prepaid expenses	(219,326)	(55,129)
Deferred tax asset	37,289	500,370
Increase (decrease) in operating liabilities:
Accounts payable and other current liabilities	(252,770)	78,221
Deferred revenue	1,293,302	111,286
Net Cash Provided by Operating Activities	1,760,478	3,208,619
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(445,160)	(2,099,714)
Proceeds from sales of property and equipment		725,000
Purchases of patents	(45,238)
Net Cash Used in Investing Activities	(490,398)	(1,374,714)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of loans	(240,411)	(586,676)
Proceeds from loan	526,544
Issuance of common stock for cash		105,445
Net Cash Provided by (Used in) Financing Activities	286,133	(481,231)
EFFECT OF CURRENCY EXCHANGE RATE ON CHANGES IN CASH	(469,234)	392,836
NET INCREASE IN CASH	1,086,979	1,745,510
CASH AT THE BEGINNING OF THE PERIOD	11,721,683	7,512,422
CASH AT THE END OF THE PERIOD	12,808,662	9,257,932
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	37,853	40,807
Cash paid for taxes		$ 7,840

Basis of Presentation

Basis of Presentation	6 Months Ended
	Apr. 30, 2020
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, 2019 and 2018 which included all information and notes necessary for such complete presentation as part of its annual report on Form 10-K filed on January 28, 2020, (“the “Form 10-K”). The results of operations for the interim period ended April 30, 2020 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, 2019, 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 April 30, 2020 and the results of operations, comprehensive income and cash flows for the interim periods ended April 30, 2020 and 2019. 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	6 Months Ended
	Apr. 30, 2020
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. Our revenues are earned under formal contracts with our customers and are derived from both sales and rental of underwater technologies and equipment for real time 3D imaging, mapping, defense and survey applications and from the engineering services that we provide broadly to prime defense contractors. 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 additional variable consideration. Our sales do not include a right of return by the customer. With regard to our Marine Technology Business (“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, post-sales technical support 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 either our subscription package offering or rental of our equipment is recognized when performance obligations are met, in particular, on a daily basis during the subscription or 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, 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 and, 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 over time, 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. Deferred Commissions Our incremental direct costs of obtaining a contract, which consists of sales commissions are deferred and amortized over the period of the contract performance. We classify deferred commissions as current or noncurrent based on the timing of when we expect to recognize the expense. The current and noncurrent portions of deferred commissions are included in prepaid expenses and other current assets, and other assets, net, respectively, in our consolidated balance sheets. At April 30, 2020 and October 31, 2019, we had deferred commissions of $1,913 and $0, respectively. Amortization expense related to deferred commissions was $80,973 and $0 in the first quarters of 2020 and 2019, respectively. 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	6 Months Ended
	Apr. 30, 2020
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, accrued expenses and a revolving 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	6 Months Ended
	Apr. 30, 2020
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	6 Months Ended
	Apr. 30, 2020
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: April 30, October 31, Inventory 2020 2019 Raw materials and parts $ 5,866,227 $ 4,379,260 Work in progress 931,125 517,354 Finished goods 714,606 453,900 Total Inventory $ 7,511,958 $ 5,350,514

Fixed Assets

Fixed Assets	6 Months Ended
	Apr. 30, 2020
Property, Plant and Equipment [Abstract]
Fixed Assets	NOTE 6 – FIXED ASSETS Fixed assets consist of the following components: April 30, October 31, 2020 2019 Buildings $ 5,012,099 $ 4,654,029 Land 200,000 200,000 Office machinery and equipment 1,976,556 1,954,938 Rental assets 1,476,977 1,468,124 Furniture, fixtures and improvements 1,145,720 1,158,033 Totals 9,811,352 9,435,124 Less: accumulated depreciation (3,695,490 ) (3,448,312 ) Property and Equipment - Net $ 6,115,862 $ 5,986,812

Other Current Assets

Other Current Assets	6 Months Ended
	Apr. 30, 2020
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: April 30, October 31, Other Current Assets 2020 2019 Deposits $ 219,614 $ 42,932 Tax receivables 58,278 255,255 Total Other Current Assets $ 277,892 $ 298,187

Estimates

Estimates	6 Months Ended
	Apr. 30, 2020
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 and estimated earnings, and 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	6 Months Ended
	Apr. 30, 2020
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 $2,021,496 and $2,279,362 as of April 30, 2020 and October 31, 2019, respectively. Our deferred revenue of $2,267,037 and $973,735 as of April 30, 2020 and October 31, 2019, respectively, consists of billings in excess of costs and estimated earnings and revenues received as part of our subscription package offering, warranty or Through Life Support (“TLS”) obligations upon completing a sale. Revenue received as part of sales of products via our Products Segment includes a provision for subscription package offering, warranty or TLS. Subscription package offering is essentially a rental agreement for a fixed period of twelve months under which we supply full equipment suite including hardware, software and technical support during the subscription period. TLS offers the customer extended post-sales technical support along with software and hardware assurances. These post-sales obligations (subscription package offering, warranty and TLS) are treated as deferred revenue and are amortized over the period when the contractual obligations subsist, which for subscription package offering and 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 $503,210 and $497,819 as of April 30, 2020 and October 31, 2019, respectively.

Concentrations

Concentrations	6 Months Ended
	Apr. 30, 2020
Risks and Uncertainties [Abstract]
Concentrations	NOTE 10 – CONCENTRATIONS Significant Customers During the three months ended April 30, 2020, the Company had two customers from whom it generated sales greater than 10% of net revenues. Revenues from these customers was $1,085,570, or 33% of net revenues during the period. During the three months ended April 30, 2019, the Company had a customer from whom it generated sales greater than 10% of net revenues. Revenue from this customer was $1,460,260, or 22% of net revenues during the period. During the six months ended April 30, 2020, the Company had two customers from whom it generated sales greater than 10% of net revenues. Revenues from these customers was $3,458,537, or 35% of net revenues during the period. During the six months ended April 30, 2019, the Company had a customer from whom it generated sales greater than 10% of net revenues. Revenue from this customer was $3,209,220, or 26% of net revenues during the period.

Notes Payable

Notes Payable	6 Months Ended
	Apr. 30, 2020
Debt Disclosure [Abstract]
Notes Payable	NOTE 11 – NOTES PAYABLE April 30, October 31, Loans and Notes Payable 2020 2019 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). $ 819,163 $ 1,059,574 Unsecured Payroll Protection Program loan from the SBA that carries an interest rate of 1%. Principal payments begin on October 1, 2020 in the amount of $29,252. 526,544 - Total 1,345,707 1,059,574 Less: current portion (673,835 ) (487,140 ) Total Long Term Loan and Note Payable $ 671,872 $ 572,434 The Company entered into a $4,000,000 revolving line of credit with HSBC NA on November 27, 2019, at prime. The outstanding balance on the line of credit was $0 as of April 30, 2020. The credit line expires on November 26, 2020.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Apr. 30, 2020
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 Company adopted ASU No. 2016-02 effective November 1, 2019. We own substantially all of our facilities. Accordingly, the adoption of ASU No. 2016-02 did not have a material impact on our interim consolidated financial statements. 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	6 Months Ended
	Apr. 30, 2020
NET (LOSS) INCOME PER SHARE:
Earnings Per Common Share	NOTE 13 – EARNINGS PER COMMON SHARE Three Months Three Months Six Months Six Months Ended Ended Ended Ended April 30, April 30, April 30, April 30, Fiscal Period 2020 2019 2020 2019 Numerator: Net (Loss) Income $ (265,080 ) $ 1,973,494 $ 1,081,693 $ 3,212,507 Denominator: Basic weighted average common shares outstanding 10,721,881 10,671,443 10,721,881 10,665,970 Options issued 555,000 - 555,000 - Diluted outstanding shares 11,276,881 10,671,443 11,276,881 10,665,970 Basic $ (0.02 ) $ 0.18 $ 0.10 $ 0.30 Diluted $ (0.02 ) $ 0.18 $ 0.10 $ 0.30

Segment Analysis

Segment Analysis	6 Months Ended
	Apr. 30, 2020
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 (“Overhead”). 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, 2019. 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 six months ended April 30, 2020 and 2019, 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 six months ended April 30, 2020 and 2019 respectively: Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Three Months Ended April 30, 2020 Revenues from External Customers $ 1,691,199 $ 1,598,019 $ - $ 3,289,218 Cost of Revenues 406,853 956,951 - 1,363,804 Gross Profit 1,284,346 641,068 - 1,925,414 Research & Development 442,696 270,945 - 713,641 Selling, General & Administrative 692,177 527,039 313,994 1,533,210 Total Operating Expenses 1,134,873 797,984 313,994 2,246,851 Income (Loss) from Operations 149,473 (156,916 ) (313,994 ) (321,437 ) Other Expense (Income) Other (Expense) Income (327 ) 16 - (311 ) Interest Expense (2,395 ) (3,959 ) (12,102 ) (18,456 ) Total Other Income (Expense) (2,722 ) (3,943 ) (12,102 ) (18,767 ) Net Income (Loss) before Income Taxes 146,751 (160,859 ) (326,096 ) (340,204 ) Income Tax Benefit (Expense) Current Tax Benefit (Expense) (6,397 ) (4,045 ) 45,268 34,826 Deferred Tax (Expense) (1,354 ) 142,793 (101,141 ) 40,298 Total Income Tax (Expense) (7,751 ) 138,748 (55,873 ) 75,124 Net Income (Loss) $ 139,000 $ (22,111 ) $ (381,969 ) $ (265,080 ) Supplemental Disclosures Total Assets $ 21,256,131 $ 14,231,702 $ 1,050,834 $ 36,538,667 Total Liabilities $ 2,907,719 $ 1,380,925 $ 921,492 $ 5,210,136 Revenues from Intercompany Sales - eliminated from sales above $ 277,658 $ 4,687 $ 675,000 $ 957,345 Depreciation and Amortization $ 94,599 $ 2,745 $ 4,112 $ 101,456 (Sales) Purchases of Long-lived Assets $ (158,874 ) $ (8,441 ) $ 14,554 $ (152,761 ) Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Three Months Ended April 30, 2019 Revenues from External Customers $ 3,420,183 $ 3,363,089 $ - $ 6,783,272 Cost of Revenues 488,909 1,569,701 - 2,058,610 Gross Profit 2,931,274 1,793,388 - 4,724,662 Research & Development 558,579 64,665 121,983 745,227 Selling, General & Administrative 743,801 611,059 341,822 1,696,682 Total Operating Expenses 1,302,380 675,724 463,805 2,441,909 Income (Loss) from Operations 1,628,894 1,117,664 (463,805 ) 2,282,753 Other Income (Expense) Other Income 26,228 - - 26,228 Interest Expense (3,392 ) (5,118 ) (15,837 ) (24,347 ) Total Other Income (Expense) 22,836 (5,118 ) (15,837 ) 1,881 Net Income (Loss) before Income Taxes 1,651,730 1,112,546 (479,642 ) 2,284,634 Current Tax Benefit 18,375 (9,939 ) (8,412 ) 24 Deferred tax (Expense) (144,381 ) (117,529 ) (49,254 ) (311,164 ) Income benefit (expense) (126,006 ) (127,468 ) (57,666 ) (311,140 ) Net Income (Loss) $ 1,525,724 $ 985,078 $ (537,308 ) $ 1,973,494 Supplemental Disclosures Total Assets $ 17,403,981 $ 12,980,885 $ 1,564,066 $ 31,948,932 Total Liabilities $ 1,357,163 $ 923,248 $ 1,528,494 $ 3,808,905 Revenues from Intercompany Sales - eliminated from sales above $ 361,604 $ 173,723 $ 675,000 $ 1,210,327 Depreciation and Amortization $ 134,516 $ 61,388 $ 3,790 $ 199,694 Purchases of Long-lived Assets $ 1,149,245 $ 31,334 $ - $ 1,180,579 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Six Months Ended April 30, 2020 Revenues from External Customers $ 5,324,011 $ 4,646,186 $ - $ 9,970,197 Cost of Revenues 1,062,530 2,707,813 - 3,770,343 Gross Profit 4,261,481 1,938,373 - 6,199,854 Research & Development 999,425 477,383 165,098 1,641,906 Selling, General & Administrative 1,560,175 1,163,335 701,378 3,424,888 Total Operating Expenses 2,559,600 1,640,718 866,476 5,066,794 Income (Loss) from Operations 1,701,881 297,655 (866,476 ) 1,133,060 Other Income (Expense) Other Income 12,497 16 - 12,513 Interest (Expense) (5,627 ) (7,641 ) (24,802 ) (38,070 ) Total Other Income (Expense) 6,870 (7,625 ) (24,802 ) (25,557 ) Net Income (Loss) before Income Taxes 1,708,751 290,030 (891,278 ) 1,107,503 Income Tax Benefit (Expense) Current Tax Benefit (Expense) 19,436 - (7,957 ) 11,479 Deferred Tax (Expense) (79,493 ) 130,558 (88,354 ) (37,289 ) Total Income Tax (Expense) (60,057 ) 130,558 (96,311 ) (25,810 ) Net Income (Loss) $ 1,648,694 $ 420,588 $ (987,589 ) $ 1,081,693 Supplemental Disclosures Total Assets $ 21,256,131 $ 14,231,702 $ 1,050,834 $ 36,538,667 Total Liabilities $ 2,907,719 $ 1,380,925 $ 921,492 $ 5,210,136 Revenues from Intercompany Sales - eliminated from sales above $ 580,480 $ 105,216 $ 1,350,000 $ 2,035,696 Depreciation and Amortization $ 277,592 $ 46,425 $ 9,403 $ 333,420 Purchases of Long-lived Assets $ 440,727 $ 1,152 $ 48,519 $ 490,398 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Six Months Ended April 30, 2019 Revenues from External Customers $ 6,249,719 $ 6,292,061 $ - $ 12,541,780 Cost of Revenues 1,206,215 3,077,831 - 4,284,046 Gross Profit 5,043,504 3,214,230 - 8,257,734 Research & Development 1,030,004 97,214 189,335 1,316,553 Selling, General & Administrative 1,498,461 1,205,105 612,391 3,315,957 Total Operating Expenses 2,528,465 1,302,319 801,726 4,632,510 Income (Loss) from Operations 2,515,039 1,911,911 (801,726 ) 3,625,224 Other Income (Expense) Other Income 59,069 - - 59,069 Interest Expense (5,866 ) (9,699 ) (33,843 ) (49,408 ) Total Other Income (Expense) 53,203 (9,699 ) (33,843 ) 9,661 Net Income (Loss) before Income Taxes 2,568,242 1,902,212 (835,569 ) 3,634,885 Current Tax Benefit 25,668 34,985 17,338 77,991 Deferred tax (Expense) (151,305 ) (233,396 ) (115,668 ) (500,369 ) Income benefit (expense) (125,637 ) (198,411 ) (98,330 ) (422,378 ) Net Income (Loss) $ 2,442,605 $ 1,703,801 $ (933,899 ) $ 3,212,507 Supplemental Disclosures Total Assets $ 17,403,981 $ 12,980,885 $ 1,564,066 $ 31,948,932 Total Liabilities $ 1,357,163 $ 923,248 $ 1,528,494 $ 3,808,905 Revenues from Intercompany Sales - eliminated from sales above $ 908,467 $ 228,929 $ 1,350,000 $ 2,487,396 Depreciation and Amortization $ 259,124 $ 127,678 $ 7,610 $ 394,412 Purchases of Long-lived Assets $ 2,065,268 $ 34,446 $ - $ 2,099,714 For the Three Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 86,787 $ - $ 86,787 Equipment Rentals 36,269 - 36,269 Software Sales - - - Engineering Parts - 847,224 847,224 Services 390,582 162,885 553,467 Europe Equipment Sales 69,563 - 69,563 Equipment Rentals 292,839 - 292,839 Software Sales 7,155 - 7,155 Engineering Parts - 587,910 587,910 Services 150,433 - 150,433 Australia/Asia Equipment Sales 310,338 - 310,338 Equipment Rentals 175,219 - 175,219 Software Sales 8,591 - 8,591 Services 126,238 - 126,238 Middle East & Africa Equipment Sales 16,170 - 16,170 Equipment Rentals 592 - 592 Software Sales - - - Services 20,423 - 20,423 Total Net Sales $ 1,691,199 $ 1,598,019 $ 3,289,218 For the Three Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 513,638 $ 1,010,109 $ 1,523,747 Europe 519,990 587,910 1,107,900 Australia/Asia 620,386 - 620,386 Middle East & Africa 37,185 - 37,185 Total Net Sales $ 1,691,199 $ 1,598,019 $ 3,289,218 For the Three Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 482,858 $ - $ 482,858 Equipment Rentals 504,919 - 504,919 Software Sales 15,746 - 15,746 Engineering Parts - 1,435,134 1,435,134 Services 687,676 162,885 850,561 Total Net Sales $ 1,691,199 $ 1,598,019 $ 3,289,218 For the Three Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 19,528 $ 54,536 $ 74,064 Equipment Rentals 171,544 - 171,544 Software Sales 7,250 - 7,250 Engineering Parts - 2,377,313 2,377,313 Services 736,612 563,518 1,300,130 Europe Equipment Sales 446,896 13,302 460,198 Equipment Rentals 491,118 - 491,118 Software Sales 59,069 - 59,069 Engineering Parts - 354,421 354,421 Services 337,467 - 337,467 Australia/Asia Equipment Sales 867,019 - 867,019 Equipment Rentals - - - Software Sales 58,289 - 58,289 Services 115,666 - 115,666 Middle East & Africa Equipment Sales - - - Equipment Rentals - - - Software Sales 16,578 - 16,578 Services 93,147 - 93,147 Total Net Sales $ 3,420,183 $ 3,363,089 $ 6,783,272 For the Three Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 934,934 $ 2,995,366 $ 3,930,300 Europe 1,334,551 367,723 1,702,273 Australia/Asia 1,040,974 - 1,040,974 Middle East & Africa 109,724 - 109,724 Total Net Sales $ 3,420,183 $ 3,363,089 $ 6,783,272 For the Three Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 1,333,444 $ 67,838 $ 1,401,281 Equipment Rentals 662,662 - 662,662 Software Sales 141,185 - 141,185 Engineering Parts - 2,731,734 2,731,734 Services 1,282,892 563,518 1,846,410 Total Net Sales $ 3,420,183 $ 3,363,089 $ 6,783,272 For the Six Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 421,175 $ - $ 421,175 Equipment Rentals 81,338 - 81,338 Software Sales 7,250 - 7,250 Engineering Parts - 2,493,597 2,493,597 Services 545,207 652,416 1,197,623 Europe Equipment Sales 407,710 - 407,710 Equipment Rentals 345,483 - 345,483 Software Sales 109,681 - 109,681 Engineering Parts - 1,494,765 1,494,765 Services 276,133 5,407 281,540 Australia/Asia Equipment Sales 2,338,648 - 2,338,648 Equipment Rentals 401,151 - 401,151 Software Sales 128,590 - 128,590 Services 173,357 - 173,357 Middle East & Africa Equipment Sales 38,244 - 38,244 Equipment Rentals 592 - 592 Software Sales - - - Services 49,452 - 49,452 Total Net Sales $ 5,324,011 $ 4,646,186 $ 9,970,197 For the Six Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 1,054,970 $ 3,146,013 $ 4,200,983 Europe 1,139,007 1,500,172 2,639,179 Australia/Asia 3,041,746 - 3,041,746 Middle East & Africa 88,288 - 88,288 Total Net Sales $ 5,324,011 $ 4,646,186 $ 9,970,197 For the Six Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 3,205,777 $ - $ 3,205,777 Equipment Rentals 828,564 - 828,564 Software Sales 245,521 - 245,521 Engineering Parts - 3,988,363 3,988,363 Services 1,044,149 657,823 1,701,972 Total Net Sales $ 5,324,011 $ 4,646,186 $ 9,970,197 For the Six Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 67,078 $ 57,545 $ 124,623 Equipment Rentals 225,027 - 225,027 Software Sales 7,250 - 7,250 Engineering Parts - 4,567,505 4,567,505 Services 820,139 879,670 1,699,809 Europe Equipment Sales 770,605 110,979 881,584 Equipment Rentals 651,507 - 651,507 Software Sales 148,644 - 148,644 Engineering Parts - 676,363 676,363 Services 478,019 - 478,019 Australia/Asia Equipment Sales 2,059,338 - 2,059,338 Equipment Rentals 257,918 - 257,918 Software Sales 201,878 - 201,878 Services 339,041 - 339,041 Middle East & Africa Equipment Sales 10,473 - 10,473 Equipment Rentals 36,130 - 36,130 Software Sales 37,565 - 37,565 Services 139,107 - 139,107 Total Net Sales $ 6,249,719 $ 6,292,061 $ 12,541,780 For the Six Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 1,119,494 $ 5,504,719 $ 6,624,213 Europe 2,048,776 787,342 2,836,117 Australia/Asia 2,858,175 - 2,858,175 Middle East & Africa 223,274 - 223,274 Total Net Sales $ 6,249,719 $ 6,292,061 $ 12,541,780 For the Six Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 2,907,495 $ 168,524 $ 3,076,018 Equipment Rentals 1,170,582 - 1,170,582 Software Sales 395,336 - 395,336 Engineering Parts - 5,243,868 5,243,868 Services 1,776,306 879,670 2,655,976 Total Net Sales $ 6,249,719 $ 6,292,061 $ 12,541,780

Income Taxes

Income Taxes	6 Months Ended
	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 15 – INCOME TAXES The Company’s effective tax rate for the three months ended April 30, 2020 and 2019 was 12.6% and 17.8%, respectively. The decrease in the effective tax rate for the six months ended April, 2020, as compared to April 30, 2019 was an increase in our AMT tax refund percentage from 5.2% in 2019 to 8.4% in 2020. As of April 30, 2020, we had U.S. federal net operating losses (NOL) carryforwards of $3,011,790, which expire at various dates as follows: 2029 $ 2,707,158 2028 304,632 Total $ 3,011,790

Reclassification of Prior Year

Reclassification of Prior Year Presentation	6 Months Ended
	Apr. 30, 2020
Notes to Financial Statements
Reclassification of Prior Year Presentation	NOTE 16 – RECLASSIFICATION OF PRIOR YEAR PRESENTATION Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. An adjustment has been made to the Consolidated Balance Sheet and Consolidated Statements of Cash Flows for the fiscal year ended October 31, 2019, to reclassify the Value Added Tax (VAT) receivable.

Subsequent Event

Subsequent Event	6 Months Ended
	Apr. 30, 2020
Subsequent Events [Abstract]
Subsequent Event	NOTE 17 – SUBSEQUENT EVENT On May 5, 2020, one of the subsidiaries received an unsecured Payroll Protection Program loan from the SBA in the amount of $122,327, which carries an interest rate of 1%. That portion of the loan, which is not forgiven, will be paid back in eighteen equal installments starting in November 2020. Maturity date is May 5, 2022.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Apr. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Components of Inventory	Inventory is stated at the lower of cost (weighted average method) or net realizable value. Inventory consisted of the following components: April 30, October 31, Inventory 2020 2019 Raw materials and parts $ 5,866,227 $ 4,379,260 Work in progress 931,125 517,354 Finished goods 714,606 453,900 Total Inventory $ 7,511,958 $ 5,350,514

Fixed Assets (Tables)

Fixed Assets (Tables)	6 Months Ended
	Apr. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Fixed Assets	Fixed assets consist of the following components: April 30, October 31, 2020 2019 Buildings $ 5,012,099 $ 4,654,029 Land 200,000 200,000 Office machinery and equipment 1,976,556 1,954,938 Rental assets 1,476,977 1,468,124 Furniture, fixtures and improvements 1,145,720 1,158,033 Totals 9,811,352 9,435,124 Less: accumulated depreciation (3,695,490 ) (3,448,312 ) Property and Equipment - Net $ 6,115,862 $ 5,986,812

Other Current Assets (Tables)

Other Current Assets (Tables)	6 Months Ended
	Apr. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Other Current Assets	Other current assets consisted of the following components: April 30, October 31, Other Current Assets 2020 2019 Deposits $ 219,614 $ 42,932 Tax receivables 58,278 255,255 Total Other Current Assets $ 277,892 $ 298,187

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Apr. 30, 2020
Debt Disclosure [Abstract]
Schedule of Note Payable	Loans and Notes Payable 2020 2019 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). $ 819,163 $ 1,059,574 Unsecured Payroll Protection Program loan from the SBA that carries an interest rate of 1%. Principal payments begin on October 1, 2020 in the amount of $29,252. 526,544 - Total 1,345,707 1,059,574 Less: current portion (673,835 ) (487,140 ) Total Long Term Loan and Note Payable $ 671,872 $ 572,434

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Apr. 30, 2020
NET (LOSS) INCOME PER SHARE:
Schedule of Earnings Per Share Basic and Diluted	Three Months Three Months Six Months Six Months Ended Ended Ended Ended April 30, April 30, April 30, April 30, Fiscal Period 2020 2019 2020 2019 Numerator: Net (Loss) Income $ (265,080 ) $ 1,973,494 $ 1,081,693 $ 3,212,507 Denominator: Basic weighted average common shares outstanding 10,721,881 10,671,443 10,721,881 10,665,970 Options issued 555,000 - 555,000 - Diluted outstanding shares 11,276,881 10,671,443 11,276,881 10,665,970 Basic $ (0.02 ) $ 0.18 $ 0.10 $ 0.30 Diluted $ (0.02 ) $ 0.18 $ 0.10 $ 0.30

Segment Analysis (Tables)

Segment Analysis (Tables)	6 Months Ended
	Apr. 30, 2020
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 six months ended April 30, 2020 and 2019 respectively: Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Three Months Ended April 30, 2020 Revenues from External Customers $ 1,691,199 $ 1,598,019 $ - $ 3,289,218 Cost of Revenues 406,853 956,951 - 1,363,804 Gross Profit 1,284,346 641,068 - 1,925,414 Research & Development 442,696 270,945 - 713,641 Selling, General & Administrative 692,177 527,039 313,994 1,533,210 Total Operating Expenses 1,134,873 797,984 313,994 2,246,851 Income (Loss) from Operations 149,473 (156,916 ) (313,994 ) (321,437 ) Other Expense (Income) Other (Expense) Income (327 ) 16 - (311 ) Interest Expense (2,395 ) (3,959 ) (12,102 ) (18,456 ) Total Other Income (Expense) (2,722 ) (3,943 ) (12,102 ) (18,767 ) Net Income (Loss) before Income Taxes 146,751 (160,859 ) (326,096 ) (340,204 ) Income Tax Benefit (Expense) Current Tax Benefit (Expense) (6,397 ) (4,045 ) 45,268 34,826 Deferred Tax (Expense) (1,354 ) 142,793 (101,141 ) 40,298 Total Income Tax (Expense) (7,751 ) 138,748 (55,873 ) 75,124 Net Income (Loss) $ 139,000 $ (22,111 ) $ (381,969 ) $ (265,080 ) Supplemental Disclosures Total Assets $ 21,256,131 $ 14,231,702 $ 1,050,834 $ 36,538,667 Total Liabilities $ 2,907,719 $ 1,380,925 $ 921,492 $ 5,210,136 Revenues from Intercompany Sales - eliminated from sales above $ 277,658 $ 4,687 $ 675,000 $ 957,345 Depreciation and Amortization $ 94,599 $ 2,745 $ 4,112 $ 101,456 (Sales) Purchases of Long-lived Assets $ (158,874 ) $ (8,441 ) $ 14,554 $ (152,761 ) Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Three Months Ended April 30, 2019 Revenues from External Customers $ 3,420,183 $ 3,363,089 $ - $ 6,783,272 Cost of Revenues 488,909 1,569,701 - 2,058,610 Gross Profit 2,931,274 1,793,388 - 4,724,662 Research & Development 558,579 64,665 121,983 745,227 Selling, General & Administrative 743,801 611,059 341,822 1,696,682 Total Operating Expenses 1,302,380 675,724 463,805 2,441,909 Income (Loss) from Operations 1,628,894 1,117,664 (463,805 ) 2,282,753 Other Income (Expense) Other Income 26,228 - - 26,228 Interest Expense (3,392 ) (5,118 ) (15,837 ) (24,347 ) Total Other Income (Expense) 22,836 (5,118 ) (15,837 ) 1,881 Net Income (Loss) before Income Taxes 1,651,730 1,112,546 (479,642 ) 2,284,634 Current Tax Benefit 18,375 (9,939 ) (8,412 ) 24 Deferred tax (Expense) (144,381 ) (117,529 ) (49,254 ) (311,164 ) Income benefit (expense) (126,006 ) (127,468 ) (57,666 ) (311,140 ) Net Income (Loss) $ 1,525,724 $ 985,078 $ (537,308 ) $ 1,973,494 Supplemental Disclosures Total Assets $ 17,403,981 $ 12,980,885 $ 1,564,066 $ 31,948,932 Total Liabilities $ 1,357,163 $ 923,248 $ 1,528,494 $ 3,808,905 Revenues from Intercompany Sales - eliminated from sales above $ 361,604 $ 173,723 $ 675,000 $ 1,210,327 Depreciation and Amortization $ 134,516 $ 61,388 $ 3,790 $ 199,694 Purchases of Long-lived Assets $ 1,149,245 $ 31,334 $ - $ 1,180,579 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Six Months Ended April 30, 2020 Revenues from External Customers $ 5,324,011 $ 4,646,186 $ - $ 9,970,197 Cost of Revenues 1,062,530 2,707,813 - 3,770,343 Gross Profit 4,261,481 1,938,373 - 6,199,854 Research & Development 999,425 477,383 165,098 1,641,906 Selling, General & Administrative 1,560,175 1,163,335 701,378 3,424,888 Total Operating Expenses 2,559,600 1,640,718 866,476 5,066,794 Income (Loss) from Operations 1,701,881 297,655 (866,476 ) 1,133,060 Other Income (Expense) Other Income 12,497 16 - 12,513 Interest (Expense) (5,627 ) (7,641 ) (24,802 ) (38,070 ) Total Other Income (Expense) 6,870 (7,625 ) (24,802 ) (25,557 ) Net Income (Loss) before Income Taxes 1,708,751 290,030 (891,278 ) 1,107,503 Income Tax Benefit (Expense) Current Tax Benefit (Expense) 19,436 - (7,957 ) 11,479 Deferred Tax (Expense) (79,493 ) 130,558 (88,354 ) (37,289 ) Total Income Tax (Expense) (60,057 ) 130,558 (96,311 ) (25,810 ) Net Income (Loss) $ 1,648,694 $ 420,588 $ (987,589 ) $ 1,081,693 Supplemental Disclosures Total Assets $ 21,256,131 $ 14,231,702 $ 1,050,834 $ 36,538,667 Total Liabilities $ 2,907,719 $ 1,380,925 $ 921,492 $ 5,210,136 Revenues from Intercompany Sales - eliminated from sales above $ 580,480 $ 105,216 $ 1,350,000 $ 2,035,696 Depreciation and Amortization $ 277,592 $ 46,425 $ 9,403 $ 333,420 Purchases of Long-lived Assets $ 440,727 $ 1,152 $ 48,519 $ 490,398 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Six Months Ended April 30, 2019 Revenues from External Customers $ 6,249,719 $ 6,292,061 $ - $ 12,541,780 Cost of Revenues 1,206,215 3,077,831 - 4,284,046 Gross Profit 5,043,504 3,214,230 - 8,257,734 Research & Development 1,030,004 97,214 189,335 1,316,553 Selling, General & Administrative 1,498,461 1,205,105 612,391 3,315,957 Total Operating Expenses 2,528,465 1,302,319 801,726 4,632,510 Income (Loss) from Operations 2,515,039 1,911,911 (801,726 ) 3,625,224 Other Income (Expense) Other Income 59,069 - - 59,069 Interest Expense (5,866 ) (9,699 ) (33,843 ) (49,408 ) Total Other Income (Expense) 53,203 (9,699 ) (33,843 ) 9,661 Net Income (Loss) before Income Taxes 2,568,242 1,902,212 (835,569 ) 3,634,885 Current Tax Benefit 25,668 34,985 17,338 77,991 Deferred tax (Expense) (151,305 ) (233,396 ) (115,668 ) (500,369 ) Income benefit (expense) (125,637 ) (198,411 ) (98,330 ) (422,378 ) Net Income (Loss) $ 2,442,605 $ 1,703,801 $ (933,899 ) $ 3,212,507 Supplemental Disclosures Total Assets $ 17,403,981 $ 12,980,885 $ 1,564,066 $ 31,948,932 Total Liabilities $ 1,357,163 $ 923,248 $ 1,528,494 $ 3,808,905 Revenues from Intercompany Sales - eliminated from sales above $ 908,467 $ 228,929 $ 1,350,000 $ 2,487,396 Depreciation and Amortization $ 259,124 $ 127,678 $ 7,610 $ 394,412 Purchases of Long-lived Assets $ 2,065,268 $ 34,446 $ - $ 2,099,714
Schedule of Disaggregate of Revenue from Contracts for Sale with Customers by Geographic Location	For the Three Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 86,787 $ - $ 86,787 Equipment Rentals 36,269 - 36,269 Software Sales - - - Engineering Parts - 847,224 847,224 Services 390,582 162,885 553,467 Europe Equipment Sales 69,563 - 69,563 Equipment Rentals 292,839 - 292,839 Software Sales 7,155 - 7,155 Engineering Parts - 587,910 587,910 Services 150,433 - 150,433 Australia/Asia Equipment Sales 310,338 - 310,338 Equipment Rentals 175,219 - 175,219 Software Sales 8,591 - 8,591 Services 126,238 - 126,238 Middle East & Africa Equipment Sales 16,170 - 16,170 Equipment Rentals 592 - 592 Software Sales - - - Services 20,423 - 20,423 Total Net Sales $ 1,691,199 $ 1,598,019 $ 3,289,218 For the Three Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 513,638 $ 1,010,109 $ 1,523,747 Europe 519,990 587,910 1,107,900 Australia/Asia 620,386 - 620,386 Middle East & Africa 37,185 - 37,185 Total Net Sales $ 1,691,199 $ 1,598,019 $ 3,289,218 For the Three Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 482,858 $ - $ 482,858 Equipment Rentals 504,919 - 504,919 Software Sales 15,746 - 15,746 Engineering Parts - 1,435,134 1,435,134 Services 687,676 162,885 850,561 Total Net Sales $ 1,691,199 $ 1,598,019 $ 3,289,218 For the Three Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 19,528 $ 54,536 $ 74,064 Equipment Rentals 171,544 - 171,544 Software Sales 7,250 - 7,250 Engineering Parts - 2,377,313 2,377,313 Services 736,612 563,518 1,300,130 Europe Equipment Sales 446,896 13,302 460,198 Equipment Rentals 491,118 - 491,118 Software Sales 59,069 - 59,069 Engineering Parts - 354,421 354,421 Services 337,467 - 337,467 Australia/Asia Equipment Sales 867,019 - 867,019 Equipment Rentals - - - Software Sales 58,289 - 58,289 Services 115,666 - 115,666 Middle East & Africa Equipment Sales - - - Equipment Rentals - - - Software Sales 16,578 - 16,578 Services 93,147 - 93,147 Total Net Sales $ 3,420,183 $ 3,363,089 $ 6,783,272 For the Three Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 934,934 $ 2,995,366 $ 3,930,300 Europe 1,334,551 367,723 1,702,273 Australia/Asia 1,040,974 - 1,040,974 Middle East & Africa 109,724 - 109,724 Total Net Sales $ 3,420,183 $ 3,363,089 $ 6,783,272 For the Three Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 1,333,444 $ 67,838 $ 1,401,281 Equipment Rentals 662,662 - 662,662 Software Sales 141,185 - 141,185 Engineering Parts - 2,731,734 2,731,734 Services 1,282,892 563,518 1,846,410 Total Net Sales $ 3,420,183 $ 3,363,089 $ 6,783,272 For the Six Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 421,175 $ - $ 421,175 Equipment Rentals 81,338 - 81,338 Software Sales 7,250 - 7,250 Engineering Parts - 2,493,597 2,493,597 Services 545,207 652,416 1,197,623 Europe Equipment Sales 407,710 - 407,710 Equipment Rentals 345,483 - 345,483 Software Sales 109,681 - 109,681 Engineering Parts - 1,494,765 1,494,765 Services 276,133 5,407 281,540 Australia/Asia Equipment Sales 2,338,648 - 2,338,648 Equipment Rentals 401,151 - 401,151 Software Sales 128,590 - 128,590 Services 173,357 - 173,357 Middle East & Africa Equipment Sales 38,244 - 38,244 Equipment Rentals 592 - 592 Software Sales - - - Services 49,452 - 49,452 Total Net Sales $ 5,324,011 $ 4,646,186 $ 9,970,197 For the Six Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 1,054,970 $ 3,146,013 $ 4,200,983 Europe 1,139,007 1,500,172 2,639,179 Australia/Asia 3,041,746 - 3,041,746 Middle East & Africa 88,288 - 88,288 Total Net Sales $ 5,324,011 $ 4,646,186 $ 9,970,197 For the Six Months Ended April 30, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 3,205,777 $ - $ 3,205,777 Equipment Rentals 828,564 - 828,564 Software Sales 245,521 - 245,521 Engineering Parts - 3,988,363 3,988,363 Services 1,044,149 657,823 1,701,972 Total Net Sales $ 5,324,011 $ 4,646,186 $ 9,970,197 For the Six Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 67,078 $ 57,545 $ 124,623 Equipment Rentals 225,027 - 225,027 Software Sales 7,250 - 7,250 Engineering Parts - 4,567,505 4,567,505 Services 820,139 879,670 1,699,809 Europe Equipment Sales 770,605 110,979 881,584 Equipment Rentals 651,507 - 651,507 Software Sales 148,644 - 148,644 Engineering Parts - 676,363 676,363 Services 478,019 - 478,019 Australia/Asia Equipment Sales 2,059,338 - 2,059,338 Equipment Rentals 257,918 - 257,918 Software Sales 201,878 - 201,878 Services 339,041 - 339,041 Middle East & Africa Equipment Sales 10,473 - 10,473 Equipment Rentals 36,130 - 36,130 Software Sales 37,565 - 37,565 Services 139,107 - 139,107 Total Net Sales $ 6,249,719 $ 6,292,061 $ 12,541,780 For the Six Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 1,119,494 $ 5,504,719 $ 6,624,213 Europe 2,048,776 787,342 2,836,117 Australia/Asia 2,858,175 - 2,858,175 Middle East & Africa 223,274 - 223,274 Total Net Sales $ 6,249,719 $ 6,292,061 $ 12,541,780 For the Six Months Ended April 30, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 2,907,495 $ 168,524 $ 3,076,018 Equipment Rentals 1,170,582 - 1,170,582 Software Sales 395,336 - 395,336 Engineering Parts - 5,243,868 5,243,868 Services 1,776,306 879,670 2,655,976 Total Net Sales $ 6,249,719 $ 6,292,061 $ 12,541,780

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Net Operating Loss Carryforwards	As of April 30, 2020, we had U.S. federal net operating losses (NOL) carryforwards of $3,011,790, which expire at various dates as follows: 2029 $ 2,707,158 2028 304,632 Total $ 3,011,790

Revenue Recognition (Details Na

Revenue Recognition (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Apr. 30, 2020	Oct. 31, 2019
Revenue Recognition [Abstract]
Deferred commissions	$ 1,913	$ 0
Amortization expense related to deferred commissions	$ 80,973	$ 0

Inventory - Schedule of Compone

Inventory - Schedule of Components of Inventory (Details) - USD ($)	Apr. 30, 2020	Oct. 31, 2019
Inventory, Net [Abstract]
Raw materials and parts	$ 5,866,227	$ 4,379,260
Work in progress	931,125	517,354
Finished goods	714,606	453,900
Total Inventory	$ 7,511,958	$ 5,350,514

Fixed Assets - Schedule of Fixe

Fixed Assets - Schedule of Fixed Assets (Details) - USD ($)	Apr. 30, 2020	Oct. 31, 2019
Totals	$ 9,811,352	$ 9,435,124
Less: accumulated depreciation	(3,695,490)	(3,448,312)
Property and Equipment - Net	6,115,862	5,986,812
Buildings [Member]
Totals	5,012,099	4,654,029
Land [Member]
Totals	200,000	200,000
Office Machinery and Equipment [Member]
Totals	1,976,556	1,954,938
Rental Assets [Member]
Totals	1,476,977	1,468,124
Furniture, Fixtures and Improvements [Member]
Totals	$ 1,145,720	$ 1,158,033

Other Current Assets - Summary

Other Current Assets - Summary of Other Current Assets (Details) - USD ($)	Apr. 30, 2020	Oct. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deposits	$ 219,614	$ 42,932
Tax receivables	58,278	255,255
Total Other Current Assets	$ 277,892	$ 298,187

Contracts in Progress (Details

Contracts in Progress (Details Narrative) - USD ($)	Apr. 30, 2020	Oct. 31, 2019
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 2,021,496	$ 2,279,362
Deferred revenue	2,267,037	973,735
Component of deferred revenue	$ 503,210	$ 497,819

Concentrations (Details Narrati

Concentrations (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Two Customers [Member]
Percentage of sales from customers	10.00%		10.00%
Two Customers [Member] | Revenue [Member]
Percentage of sales from customers	33.00%		35.00%
Total net sales	$ 1,085,570		$ 3,458,537
Customer [Member]
Percentage of sales from customers		10.00%		10.00%
Customer [Member] | Revenue [Member]
Percentage of sales from customers		22.00%		26.00%
Total net sales		$ 1,460,260		$ 3,209,220

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - HSBC NA [Member] - USD ($)	Nov. 27, 2019	Apr. 30, 2020
Revolving line of credit	$ 4,000,000	$ 0
Credit line expires date	Nov. 26, 2020

Notes Payable - Schedule of Not

Notes Payable - Schedule of Note Payable (Details) - USD ($)	Apr. 30, 2020	Oct. 31, 2019
Total	$ 1,345,707	$ 1,059,574
Less: current portion	(673,835)	(487,140)
Total Long Term Loan and Note Payable	671,872	572,434
Secured Debt [Member] | HSBC NA [Member]
Total	819,163	1,059,574
Payroll Protection Program Loan [Member] | SBA [Member]
Total	$ 526,544

Notes Payable - Schedule of N_2

Notes Payable - Schedule of Note Payable (Details) (Parenthetical) - USD ($)	6 Months Ended	12 Months Ended
	Apr. 30, 2020	Oct. 31, 2019	Oct. 01, 2020
Secured Debt [Member] | HSBC NA [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
Payroll Protection Program Loan [Member] | SBA [Member]
Loan, annual interest rate	1.00%	1.00%
Payroll Protection Program Loan [Member] | SBA [Member] | Subsequent Event [Member]
Debt instrument principal			$ 29,252

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($)	3 Months Ended				6 Months Ended
	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019	Jan. 31, 2019	Apr. 30, 2020	Apr. 30, 2019
NET (LOSS) INCOME PER SHARE:
NET (LOSS) INCOME	$ (265,080)	$ 1,346,773	$ 1,973,494	$ 1,239,013	$ 1,081,693	$ 3,212,507
Basic weighted average common shares outstanding	10,721,881		10,671,443		10,721,881	10,665,970
Options issued	555,000				555,000
Diluted outstanding shares	11,276,881		10,671,443		11,276,881	10,665,970
Basic	$ (0.02)		$ 0.18		$ 0.10	$ 0.3
Diluted	$ (0.02)		$ 0.18		$ 0.10	$ 0.3

Segment Analysis (Details Narra

Segment Analysis (Details Narrative)	6 Months Ended
	Apr. 30, 2020Integer
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Analysis - Schedule of

Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)	3 Months Ended				6 Months Ended
	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019	Jan. 31, 2019	Apr. 30, 2020	Apr. 30, 2019	Oct. 31, 2019
Revenues from External Customers	$ 3,289,218		$ 6,783,272		$ 9,970,197	$ 12,541,780
Cost of Revenues	1,363,804		2,058,610		3,770,343	4,284,046
Gross Profit	1,925,414		4,724,662		6,199,854	8,257,734
Research & Development	713,641		745,227		1,641,906	1,316,553
Selling, General & Administrative	1,533,210		1,696,682		3,424,888	3,315,957
Total Operating Expenses	2,246,851		2,441,909		5,066,794	4,632,510
Income (Loss) from Operations	(321,437)		2,282,753		1,133,060	3,625,224
Other Expense (Income)	(311)		26,228		12,513	59,069
Interest Expense	(18,456)		(24,347)		(38,070)	(49,408)
Total Other Income (Expense)	(18,767)		1,881		(25,557)	9,661
Net Income (Loss) before Income Taxes	(340,204)		2,284,634		1,107,503	3,634,885
Current Tax Benefit (Expense)	34,826		24		11,479	77,991
Deferred Tax (Expense)	40,298		(311,164)		(37,289)	(500,369)
Total Income Tax (Expense)	75,124		(311,140)		(25,810)	(422,378)
NET (LOSS) INCOME	(265,080)	$ 1,346,773	1,973,494	$ 1,239,013	1,081,693	3,212,507
Total Assets	36,538,667		31,948,932		36,538,667	31,948,932	$ 34,511,244
Total Liabilities	5,210,136		3,808,905		5,210,136	3,808,905	$ 3,883,471
Revenues from Intercompany Sales - eliminated from sales above	957,345		1,210,327		2,035,696	2,487,396
Depreciation and Amortization	101,456		199,694		333,420	394,412
(Sales) Purchases of Long-lived Assets	(152,761)		1,180,579		490,398	2,099,714
Marine Technology Business (Products) [Member]
Revenues from External Customers	1,691,199		3,420,183		5,324,011	6,249,719
Cost of Revenues	406,853		488,909		1,062,530	1,206,215
Gross Profit	1,284,346		2,931,274		4,261,481	5,043,504
Research & Development	442,696		558,579		999,425	1,030,004
Selling, General & Administrative	692,177		743,801		1,560,175	1,498,461
Total Operating Expenses	1,134,873		1,302,380		2,559,600	2,528,465
Income (Loss) from Operations	149,473		1,628,894		1,701,881	2,515,039
Other Expense (Income)	(327)		26,228		12,497	59,069
Interest Expense	(2,395)		(3,392)		(5,627)	(5,866)
Total Other Income (Expense)	(2,722)		22,836		6,870	53,203
Net Income (Loss) before Income Taxes	146,751		1,651,730		1,708,751	2,568,242
Current Tax Benefit (Expense)	(6,397)		18,375		19,436	25,668
Deferred Tax (Expense)	(1,354)		(144,381)		(79,493)	(151,305)
Total Income Tax (Expense)	(7,751)		(126,006)		(60,057)	(125,637)
NET (LOSS) INCOME	139,000		1,525,724		1,648,694	2,442,605
Total Assets	21,256,131		17,403,981		21,256,131	17,403,981
Total Liabilities	2,907,719		1,357,163		2,907,719	1,357,163
Revenues from Intercompany Sales - eliminated from sales above	277,658		361,604		580,480	908,467
Depreciation and Amortization	94,599		134,516		277,592	259,124
(Sales) Purchases of Long-lived Assets	(158,874)		1,149,245		440,727	2,065,268
Marine Engineering Business (Services) [Member]
Revenues from External Customers	1,598,019		3,363,089		4,646,186	6,292,061
Cost of Revenues	956,951		1,569,701		2,707,813	3,077,831
Gross Profit	641,068		1,793,388		1,938,373	3,214,230
Research & Development	270,945		64,665		477,383	97,214
Selling, General & Administrative	527,039		611,059		1,163,335	1,205,105
Total Operating Expenses	797,984		675,724		1,640,718	1,302,319
Income (Loss) from Operations	(156,916)		1,117,664		297,655	1,911,911
Other Expense (Income)	16				16
Interest Expense	(3,959)		(5,118)		(7,641)	(9,699)
Total Other Income (Expense)	(3,943)		(5,118)		(7,625)	(9,699)
Net Income (Loss) before Income Taxes	(160,859)		1,112,546		290,030	1,902,212
Current Tax Benefit (Expense)	(4,045)		(9,939)			34,985
Deferred Tax (Expense)	142,793		(117,529)		130,558	(233,396)
Total Income Tax (Expense)	138,748		(127,468)		130,558	(198,411)
NET (LOSS) INCOME	(22,111)		985,078		420,588	1,703,801
Total Assets	14,231,702		12,980,885		14,231,702	12,980,885
Total Liabilities	1,380,925		923,248		1,380,925	923,248
Revenues from Intercompany Sales - eliminated from sales above	4,687		173,723		105,216	228,929
Depreciation and Amortization	2,745		61,388		46,425	127,678
(Sales) Purchases of Long-lived Assets	(8,441)		31,334		1,152	34,446
Overhead [Member]
Revenues from External Customers
Cost of Revenues
Gross Profit
Research & Development			121,983		165,098	189,335
Selling, General & Administrative	313,994		341,822		701,378	612,391
Total Operating Expenses	313,994		463,805		866,476	801,726
Income (Loss) from Operations	(313,994)		(463,805)		(866,476)	(801,726)
Other Expense (Income)
Interest Expense	(12,102)		(15,837)		(24,802)	(33,843)
Total Other Income (Expense)	(12,102)		(15,837)		(24,802)	(33,843)
Net Income (Loss) before Income Taxes	(326,096)		(479,642)		(891,278)	(835,569)
Current Tax Benefit (Expense)	45,268		(8,412)		(7,957)	17,338
Deferred Tax (Expense)	(101,141)		(49,254)		(88,354)	(115,668)
Total Income Tax (Expense)	(55,873)		(57,666)		(96,311)	(98,330)
NET (LOSS) INCOME	(381,969)		(537,308)		(987,589)	(933,899)
Total Assets	1,050,834		1,564,066		1,050,834	1,564,066
Total Liabilities	921,492		1,528,494		921,492	1,528,494
Revenues from Intercompany Sales - eliminated from sales above	675,000		675,000		1,350,000	1,350,000
Depreciation and Amortization	4,112		3,790		9,403	7,610
(Sales) Purchases of Long-lived Assets	$ 14,554				$ 48,519

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		6 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Total net sales	$ 3,289,218	$ 6,783,272	$ 9,970,197	$ 12,541,780
Equipment Sales [Member]
Total net sales	482,858	1,401,281	3,205,777	3,076,018
Equipment Rentals [Member]
Total net sales	504,919	662,662	828,564	1,170,582
Software Sales [Member]
Total net sales	15,746	141,185	245,521	395,336
Engineering Parts [Member]
Total net sales	1,435,134	2,731,734	3,988,363	5,243,868
Services [Member]
Total net sales	850,561	1,846,410	1,701,972	2,655,976
Americas [Member]
Total net sales	1,523,747	3,930,300	4,200,983	6,624,213
Americas [Member] | Equipment Sales [Member]
Total net sales	86,787	74,064	421,175	124,623
Americas [Member] | Equipment Rentals [Member]
Total net sales	36,269	171,544	81,338	225,027
Americas [Member] | Software Sales [Member]
Total net sales		7,250	7,250	7,250
Americas [Member] | Engineering Parts [Member]
Total net sales	847,224	2,377,313	2,493,597	4,567,505
Americas [Member] | Services [Member]
Total net sales	553,467	1,300,130	1,197,623	1,699,809
Europe [Member]
Total net sales	1,107,900	1,702,273	2,639,179	2,836,117
Europe [Member] | Equipment Sales [Member]
Total net sales	69,563	460,198	407,710	881,584
Europe [Member] | Equipment Rentals [Member]
Total net sales	292,839	491,118	345,483	651,507
Europe [Member] | Software Sales [Member]
Total net sales	7,155	59,069	109,681	148,644
Europe [Member] | Engineering Parts [Member]
Total net sales	587,910	354,421	1,494,765	676,363
Europe [Member] | Services [Member]
Total net sales	150,433	337,467	281,540	478,019
Australia/Asia [Member]
Total net sales	620,386	1,040,974	3,041,746	2,858,175
Australia/Asia [Member] | Equipment Sales [Member]
Total net sales	310,338	867,019	2,338,648	2,059,338
Australia/Asia [Member] | Equipment Rentals [Member]
Total net sales	175,219		401,151	257,918
Australia/Asia [Member] | Software Sales [Member]
Total net sales	8,591	58,289	128,590	201,878
Australia/Asia [Member] | Services [Member]
Total net sales	126,238	115,666	173,357	339,041
Middle East & Africa [Member]
Total net sales	37,185	109,724	88,288	223,274
Middle East & Africa [Member] | Equipment Sales [Member]
Total net sales	16,170		38,244	10,473
Middle East & Africa [Member] | Equipment Rentals [Member]
Total net sales	592		592	36,130
Middle East & Africa [Member] | Software Sales [Member]
Total net sales		16,578		37,565
Middle East & Africa [Member] | Services [Member]
Total net sales	20,423	93,147	49,452	139,107
Marine Technology Business (Products) [Member]
Total net sales	1,691,199	3,420,183	5,324,011	6,249,719
Marine Technology Business (Products) [Member] | Equipment Sales [Member]
Total net sales	482,858	1,333,444	3,205,777	2,907,495
Marine Technology Business (Products) [Member] | Equipment Rentals [Member]
Total net sales	504,919	662,662	828,564	1,170,582
Marine Technology Business (Products) [Member] | Software Sales [Member]
Total net sales	15,746	141,185	245,521	395,336
Marine Technology Business (Products) [Member] | Engineering Parts [Member]
Total net sales
Marine Technology Business (Products) [Member] | Services [Member]
Total net sales	687,676	1,282,892	1,044,149	1,776,306
Marine Technology Business (Products) [Member] | Americas [Member]
Total net sales	513,638	934,934	1,054,970	1,119,494
Marine Technology Business (Products) [Member] | Americas [Member] | Equipment Sales [Member]
Total net sales	86,787	19,528	421,175	67,078
Marine Technology Business (Products) [Member] | Americas [Member] | Equipment Rentals [Member]
Total net sales	36,269	171,544	81,338	225,027
Marine Technology Business (Products) [Member] | Americas [Member] | Software Sales [Member]
Total net sales		7,250	7,250	7,250
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	390,582	736,612	545,207	820,139
Marine Technology Business (Products) [Member] | Europe [Member]
Total net sales	519,990	1,334,551	1,139,007	2,048,776
Marine Technology Business (Products) [Member] | Europe [Member] | Equipment Sales [Member]
Total net sales	69,563	446,896	407,710	770,605
Marine Technology Business (Products) [Member] | Europe [Member] | Equipment Rentals [Member]
Total net sales	292,839	491,118	345,483	651,507
Marine Technology Business (Products) [Member] | Europe [Member] | Software Sales [Member]
Total net sales	7,155	59,069	109,681	148,644
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	150,433	337,467	276,133	478,019
Marine Technology Business (Products) [Member] | Australia/Asia [Member]
Total net sales	620,386	1,040,974	3,041,746	2,858,175
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Equipment Sales [Member]
Total net sales	310,338	867,019	2,338,648	2,059,338
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Equipment Rentals [Member]
Total net sales	175,219		401,151	257,918
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Software Sales [Member]
Total net sales	8,591	58,289	128,590	201,878
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Services [Member]
Total net sales	126,238	115,666	173,357	339,041
Marine Technology Business (Products) [Member] | Middle East & Africa [Member]
Total net sales	37,185	109,724	88,288	223,274
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Equipment Sales [Member]
Total net sales	16,170		38,244	10,473
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Equipment Rentals [Member]
Total net sales	592		592	36,130
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Software Sales [Member]
Total net sales		16,578		37,565
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Services [Member]
Total net sales	20,423	93,147	49,452	139,107
Marine Engineering Business (Services) [Member]
Total net sales	1,598,019	3,363,089	4,646,186	6,292,061
Marine Engineering Business (Services) [Member] | Equipment Sales [Member]
Total net sales		67,838		168,524
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	1,435,134	2,731,734	3,988,363	5,243,868
Marine Engineering Business (Services) [Member] | Services [Member]
Total net sales	162,885	563,518	657,823	879,670
Marine Engineering Business (Services) [Member] | Americas [Member]
Total net sales	1,010,109	2,995,366	3,146,013	5,504,719
Marine Engineering Business (Services) [Member] | Americas [Member] | Equipment Sales [Member]
Total net sales		54,536		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	847,224	2,377,313	2,493,597	4,567,505
Marine Engineering Business (Services) [Member] | Americas [Member] | Services [Member]
Total net sales	162,885	563,518	652,416	879,670
Marine Engineering Business (Services) [Member] | Europe [Member]
Total net sales	587,910	367,723	1,500,172	787,342
Marine Engineering Business (Services) [Member] | Europe [Member] | Equipment Sales [Member]
Total net sales		13,302		110,979
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	587,910	354,421	1,494,765	676,363
Marine Engineering Business (Services) [Member] | Europe [Member] | Services [Member]
Total net sales			5,407
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 ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	12.60%	17.80%
AMT tax refund percentage			8.40%	5.20%
Net operating loss	$ 3,011,790		$ 3,011,790

Income Taxes - Schedule of Net

Income Taxes - Schedule of Net Operating Loss Carryforwards (Details)	Apr. 30, 2020USD ($)
NOL carryforwards	$ 3,011,790
2029 [Member]
NOL carryforwards	2,707,158
2028 [Member]
NOL carryforwards	$ 304,632

Subsequent Event (Details Narra

Subsequent Event (Details Narrative) - Subsequent Event [Member] - Unsecured Payroll Protection Program Loan [Member]	May 05, 2020USD ($)
Proceed from loan	$ 122,327
Loan interest rate	1.00%
Loan, description	That portion of the loan, which is not forgiven, will be paid back in eighteen equal installments starting in November, 2020.
Loan, maturity date	May 5, 2022