Coda Octopus (CODA) 10-K 28 Jan 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Oct. 31, 2020	Jan. 28, 2021	Apr. 30, 2020
Cover [Abstract]
Entity Registrant Name	Coda Octopus Group, Inc.
Entity Central Index Key	0001334325
Document Type	10-K
Document Period End Date	Oct. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float			$ 27,325,000
Entity Common Stock, Shares Outstanding		10,751,881
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Oct. 31, 2020	Oct. 31, 2019
CURRENT ASSETS
Cash	$ 15,134,289	$ 11,721,683
Accounts Receivable, net	2,014,660	4,431,971
Inventory	9,142,273	5,350,514
Unbilled Receivables	861,300	2,279,362
Other Current Assets	244,171	298,187
Prepaid Expenses	289,204	198,140
Total Current Assets	27,685,897	24,279,857
FIXED ASSETS
Property and Equipment, net	6,059,900	5,986,812
OTHER ASSETS
Goodwill and Other Intangibles, net	3,731,452	3,612,891
Deferred Tax Asset	561,902	631,684
Total Other Assets	4,293,354	4,244,575
Total Assets	38,039,151	34,511,244
CURRENT LIABILITIES
Accounts Payable	1,284,097	1,273,490
Accrued Expenses and Other Current Liabilities	584,202	576,672
Notes Payable	509,769	487,140
Deferred Revenue	1,006,454	830,148
Total Current Liabilities	3,384,522	3,167,450
LONG TERM LIABILITIES
Deferred Revenue, less current portion	195,022	143,587
Notes Payable, less current portion	63,339	572,434
Total Long Term Liabilities	258,361	716,021
Total Liabilities	3,642,883	3,883,471
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value; 150,000,000 shares authorized, 10,751,881 and 10,721,881 shares issued and outstanding as of October 31, 2020 and 2019, respectively	10,753	10,723
Additional Paid-in Capital	60,132,415	59,521,665
Accumulated Other Comprehensive Loss	(2,321,278)	(2,135,408)
Accumulated Deficit	(23,425,622)	(26,769,207)
Total Stockholders' Equity	34,396,268	30,627,773
Total Liabilities and Stockholders' Equity	$ 38,039,151	$ 34,511,244

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 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	10,751,881	10,721,881
Common stock, shares outstanding	10,751,881	10,721,881

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Income Statement [Abstract]
Net Revenues	$ 20,043,810	$ 25,056,934
Cost of Revenues	7,314,362	8,627,615
Gross Profit	12,729,448	16,429,319
OPERATING EXPENSES
Research & Development	3,188,389	2,801,331
Selling, General & Administrative	6,737,294	7,374,551
Total Operating Expenses	9,925,683	10,175,882
INCOME FROM OPERATIONS	2,803,765	6,253,437
OTHER INCOME (EXPENSE)
Other Income	19,374	70,212
Funding from Paycheck Protection Program	648,871
Interest Expense	(70,203)	(91,096)
Total Other Income (Expense)	598,042	(20,884)
NET INCOME BEFORE INCOME TAXES	3,401,807	6,232,553
INCOME TAX BENEFIT (EXPENSE)
Current Tax Benefit	(50,663)	(39,422)
Deferred Tax Expense	(108,885)	(1,046,776)
Total Income Tax Expense	(58,222)	(1,007,354)
NET INCOME	$ 3,343,585	$ 5,225,199
NET INCOME PER SHARE:
Basic	$ 0.31	$ 0.49
Diluted	$ 0.30	$ 0.49
WEIGHTED AVERAGE SHARES:
Basic	10,733,799	10,680,007
Diluted	11,294,799	10,680,007
NET INCOME	$ 3,343,585	$ 5,225,199
Foreign Currency Translation Adjustment	(185,870)	93,255
Total Other Comprehensive Income (Loss)	(185,870)	93,255
COMPREHENSIVE INCOME	$ 3,157,715	$ 5,318,454

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - 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	$ 25	105,421			105,446
Stock Issued to Investors, shares	23,965
Director stock based compensation	$ 32	302,757			302,789
Director stock based compensation, shares	32,143
Employee stock based compensation	$ 5	55,815			55,820
Employee stock based compensation, shares	5,357
Consultant stock based compensation	$ 20	291,780			291,800
Consultant stock based compensation, shares	20,000
Disgorgement of stock sales		166,514			166,514
Foreign currency translation adjustment			93,255		93,255
Net Income				5,225,199	5,225,199
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
Employee stock based compensation		441,280			441,280
Employee stock based compensation, shares
Consultant stock based compensation	$ 30	169,470			169,500
Consultant stock based compensation, shares	30,000
Foreign currency translation adjustment			(185,870)		(185,870)
Net Income				3,343,585	3,343,585
Balance at Oct. 31, 2020	$ 10,753	$ 60,132,415	$ (2,321,278)	$ (23,425,622)	$ 34,396,268
Balance, shares at Oct. 31, 2020	10,751,881

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 3,343,585	$ 5,225,199
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	806,686	833,775
Stock based compensation	610,780	650,409
Deferred tax asset	69,782	1,122,485
Funding from Paycheck Protection Program recognized as income	(648,871)
Loss on the sale of property and equipment		9,215
(Increase) decrease in operating assets:
Accounts receivable	2,417,311	(1,105,349)
Inventory	(3,791,759)	(1,527,271)
Unbilled receivables	1,418,062	733,754
Other current assets	54,016	(78,762)
Prepaid expenses	(91,064)	29,339
Increase (decrease) in operating liabilities:
Accounts payable and other current liabilities	18,137	(176,560)
Deferred revenue	227,741	321,915
Net Cash Provided by Operating Activities	4,434,406	6,391,269
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(835,132)	(2,263,007)
Proceeds from sales of property and equipment		719,077
Purchases of other goodwill and intangible assets	(163,203)	(38,628)
Net Cash Used in Investing Activities	(998,335)	(1,582,558)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of notes	(486,466)	(964,665)
Disgorgement of stock sales		166,514
Proceeds from Paycheck Protection Program	648,871
Issuance of common stock for cash		105,446
Net Cash Provided (Used) in Financing Activities	162,405	(692,705)
EFFECT OF CURRENCY EXCHANGE RATE ON CHANGES IN CASH	(185,870)	93,255
NET INCREASE IN CASH	3,412,606	4,209,261
CASH AT THE BEGINNING OF THE PERIOD	11,721,683	7,512,422
CASH AT THE END OF THE PERIOD	15,134,289	11,721,683
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	70,202	91,097
Cash paid for taxes		$ 7,840

Organization and Description of

Organization and Description of Business	12 Months Ended
	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Coda Octopus Group, Inc. (“Coda,” “the Company,” or “we”) operates two distinct operating business units. These are Marine Technology Business (“Products Business”) and Marine Engineering Business (“Services Business”). The Marine Technology Business sells solutions which it designs, develops and manufactures to the subsea market. Among the solutions it designs and develops its real time volumetric imaging sonar which is a unique and leading product in the subsea/underwater market. The Marine Engineering Business supplies proprietary parts for which it enjoys sole source status to prime defense contractors. These parts are part of a broader sub-system into mission critical defense systems. The consolidated financial statements include the accounts of Coda Octopus Group, Inc. and our domestic and foreign subsidiaries. All significant intercompany transactions and balances have been eliminated in the consolidated financial statements.

Summary of Accounting Policies

Summary of Accounting Policies	12 Months Ended
	Oct. 31, 2020
Accounting Policies [Abstract]
Summary of Accounting Policies	NOTE 2 - SUMMARY OF ACCOUNTING POLICIES a. Basis of Presentation The Company has adopted the Financial Accounting Standards Board (FASB) Codification (Codification). The Codification is the single official source of authoritative accounting principles generally accepted in the United States of America (U.S. GAAP) recognized by the FASB to be applied by nongovernmental entities, and all of the Codification’s content carries the same level of authority. b. Cash The Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. At times such investments may be in excess of federal deposit insurance limits. c. Trade Accounts Receivable Trade accounts receivable are recorded net of the allowance for doubtful accounts. The Company provides for an allowance for doubtful collections that is based upon a review of outstanding receivables, historical collection information, and existing economic conditions. Balances still outstanding after the Company has used reasonable collection efforts are written off though a charge to the valuation allowance and a credit to trade accounts receivable. The allowance for doubtful accounts was $47,807 as of October 31, 2020 and 2019, respectively. d. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Expenditures for minor replacements, maintenance and repairs which do not increase the useful lives of the property and equipment are charged to operations as incurred. Major additions and improvements are capitalized. Depreciation and amortization are computed using the straight-line method over their estimated useful lives which is typically three to five years for equipment and 30 years for buildings. e. Advertising Coda follows the policy of charging the costs of advertising to expense as incurred, which aggregated $4,884 and $18,271 for the years ended October, 31 2020 and 2019 respectively. f. Inventory Inventory is stated at the lower of cost (Weighted Average method) or net realizable value. Inventory consisted of the following components: October 31, 2020 October 31, 2019 Inventory Raw materials and parts $ 7,322,688 $ 4,379,260 Work in progress 698,756 517,354 Finished goods 1,120,829 453,900 Total Inventory $ 9,142,273 $ 5,350,514 g. Estimates The preparation of consolidated financial statements in conformity with U.S. 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 estimates related to the percentage of completion method used to account for contracts including costs and earnings in excess of billings, billings in excess of costs and estimated earnings and the valuation of goodwill. h. 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 which we provide primarily 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 Business”), 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 offerings 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 distinct to the functionality of the software, we recognize revenue upon delivery of the software. With respect to revenues related to our Services Business, 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 the 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. On a quarterly basis, 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 incremental direct 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. As of October 31, 2020 and 2019, we had deferred commissions of $3,884 and $68,175, respectively. Amortization expense related to deferred commissions was $125,284 and $127,590 in the years ended October 31, 2020 and 2019, respectively. Other Revenue Disclosures See Note 12 – 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. i. Concentrations of Risk Credit losses, if any, have been provided for in the consolidated financial statements and are based on management’s expectations. The Company’s accounts receivables are subject to potential concentrations of credit risk, since a significant part of the Company’s sales are to a small number of companies and, even though these are generally established businesses, market fluctuations such as the price of oil may affect our customers’ ability to meet their obligations to us. Furthermore, Trade disputes may result in impairment or delays in receivables. The Company’s bank deposits are held with financial institutions both in and outside the USA. At times, such amounts may be in excess of applicable government mandated insurance limits. The Company has not experienced any losses in such accounts or lack of access to its cash, and believes it is not exposed to significant risk of loss with respect to cash. j. Contracts in Progress (Unbilled Receivables and Deferred Revenue) 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 balance sheet. These amounts are stated on the consolidated balance sheets as Unbilled Receivables of $861,300 and $2,279,362 as of October 31, 2020 and 2019, respectively. Our Deferred Revenue of $989,588 and $973,735 as of October 31, 2020 and 2019, respectively, consists of billings in excess of costs and revenues received as part of our warranty obligations upon completing a sale, as elaborated further in the last paragraph of this note. Revenue received as part of sales of equipment includes a provision for warranty and is treated as deferred revenue, along with extended warranty sales, which may be purchased by customers. These amounts are amortized over the relevant warranty period (12 months is our standard warranty or 24, 36 or 60 months for extended warranty) from the date of sale. These amounts are stated on the consolidated balance sheets as a component of Deferred Revenue and were $211,888 and $497,819 as of October 31, 2020 and 2019, respectively. k. Income Taxes The Company accounts for income taxes in accordance with Accounting Standards Codification 740, Income Taxes Deferred tax assets and liabilities are the amounts by which the Company’s future income taxes are expected to be impacted by these differences as they reverse. Deferred tax assets are based on differences that are expected to decrease future income taxes as they reverse. Correspondingly, deferred tax liabilities are based on differences that are expected to increase future income taxes as they reverse. Note 7 below discusses the amounts of deferred tax assets and liabilities, and also presents the impact of significant differences between financial reporting income and taxable income. For income tax purposes, the Company uses the percentage of completion method of recognizing revenues on long-term contracts which is consistent with the Company’s financial reporting under U.S. GAAP. l. Goodwill and Intangible Assets Goodwill and Intangible assets consist principally of the excess of cost over the fair value of net assets acquired (or goodwill), customer relationships, non-compete agreements and licenses. Goodwill was allocated to our reporting units based on the original purchase price allocation. Goodwill is not amortized and is evaluated for impairment annually or more often if circumstances indicate impairment may exist. Customer relationships, non-compete agreements, patents and licenses are being amortized on a straight-line basis over periods of 2 to 15 years. The Company amortizes its limited life goodwill and intangible assets using the straight-line method over their estimated period of benefit. We periodically evaluate the recoverability of goodwill and intangible assets and take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists. Step 1 of the goodwill impairment test, used to identify potential impairment, compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value, which is based on future cash flows, exceeds the carrying amount, goodwill is not considered impaired. If the carrying amount exceeds the fair value, the Step 2 must be performed to measure the amount of the impairment loss, if any. The Company has adopted Accounting Standards Codification 2017 – 04, simplifying the Test for Goodwill Impairment, which permits the Company to impair the difference between carrying amounts in excess of the fair value of the reporting unit as the reduction in goodwill. ASC 2017-04 eliminates the requirement in previous GAAP to perform Step 2 of the goodwill impairment test. At the end of each year, we evaluate goodwill on a separate reporting unit basis to assess recoverability, and impairments, if any, are recognized in earnings. An impairment loss would be recognized in an amount equal to the excess of the carrying amount of the reporting unit over the fair value of the reporting unit. There were no impairment charges recognized during the years ended October 31, 2020 and 2019. m. Fair Value of Financial Instruments The Company’s financial instruments include cash, accounts receivable, accounts payable, accrued expenses and notes payable. The carrying amounts of cash, accounts receivable, accounts payable and accrued expenses approximate fair values because of the short-term nature of these instruments. The aggregate carrying amount of the notes payable approximates fair value as they bear interest at a market interest rate based on their term and maturity. The fair value of the Company’s long-term debt approximates its carrying amount based on the fact that the Company believes it could obtain similar terms and conditions for similar debt. n. Foreign Currency Translation Assets and liabilities are translated at the prevailing exchange rates at the balance sheet dates. Related revenues and expenses are translated at weighted average exchange rates in effect during the period. Stockholders’ equity, fixed assets and long-term investments are recorded at historical exchange rates. Resulting translation adjustments are recorded as a separate component in stockholders’ equity as part of accumulated other comprehensive income or (loss) as may be appropriate. Foreign currency transaction gains and losses are included in the consolidated statements of income and comprehensive income. o. Long-Lived Assets Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The carrying amount of a long-lived asset is not recoverable if its carrying amount exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposal of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. No impairment loss was recognized during the years ended October 31, 2020 and 2019, respectively. p. Research and Development Research and development costs consist of expenditures for the development of present and future patents and technology, which are not capitalizable. Under current legislation, we are eligible for UK tax credits related to our qualified research and development expenditures. Tax credits are classified as a reduction of research and development expense. During the years ended October 31, 2020 and 2019, we had $0 and $0, respectively. q. Stock Based Compensation In accordance with the accounting rules for stock compensation, for time based awards, the Company is accruing a stock compensation expense and increase to additional paid in capital based on the market value of the common stock as of the grant date throughout the vesting period. The vesting period for the awards is three years and is based on the employee’s continuous service to the Company. Prior to vesting, the awards are subject to forfeiture in whole or in part under certain circumstances. We use the Black-Scholes method for equity instruments granted to employees. r. Comprehensive Income Comprehensive income is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Comprehensive income includes gains and losses on foreign currency translation adjustments and is included as a component of stockholders’ equity. s. Earnings per Share We compute basic earnings per share by dividing the income attributable to common shareholders by the weighted average number of common shares outstanding in the reporting period. Following is a reconciliation of earnings from continuing operations and weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share: Year Year Ended Ended October 31, October 31, Fiscal Period 2020 2019 Numerator: Net Income (Loss) $ 3,343,585 $ 5,225,199 Denominator: Basic weighted average common shares outstanding 10,733,799 10,680,007 Options issued 561,000 - Diluted outstanding shares 11,294,799 10,680,007 Earnings (Loss) from continuing operations Basic $ 0.31 $ 0.49 Diluted $ 0.30 $ 0.49 t. 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. u. Recent Accounting Pronouncements There have been no new accounting pronouncements not yet effective that have significance, or potential significance, to our Consolidated Financial Statements.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Oct. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	NOTE 3 – GOODWILL AND INTANGIBLE ASSETS Goodwill and Other Intangible Assets are evaluated on an annual basis. If there is reason to believe that their values have been diminished or impaired, those write-downs will be included in results from operations. The identifiable goodwill and intangible assets acquired and their carrying value as of October 31, 2020 and 2019, are as follows: Amortization of patents, customer relationships, non-compete agreements and licenses included as a charge to income amounted to $44,642 and $39,689 for the years ended October 31, 2020 and 2019, respectively. Goodwill is not being amortized. October 31, 2020 October 31, 2019 Customer relationships (weighted average life of 10 years) $ 720,592 $ 720,592 Non-compete agreements (weighted average life of 3 years) 198,911 198,911 Patents and other (weighted average life of 10 years) 472,173 381,785 Total identifiable intangible assets - gross carrying value 1,391,676 1,301,288 Less: accumulated amortization (1,042,332 ) (1,070,505 ) Total intangible assets, net $ 349,344 $ 230,783 Future estimated annual amortization expenses as of October 31, 2020 as follows: Years Ending October 31, Amount 2021 46,338 2022 46,317 2023 43,978 2024 33,000 2025 19,409 Thereafter 160,302 Totals $ 349,344 As a result of the acquisitions of Coda Octopus Martech, Ltd., Coda Octopus Colmek, Inc. and Coda Octopus Products, Ltd., the Company has goodwill in the amount of $3,382,108 as of October 31, 2020 and 2019, respectively. We enlisted the assistance of an independent valuation consultant to determine the values of our goodwill and intangible assets at the dates of acquisition and by management for the dates thereafter. The carrying amount of goodwill as of October 31, 2020 and 2019, respectively, are recorded below: October 31, 2020 October 31, 2019 Breakout of Goodwill: Coda Octopus Colmek, Inc. $ 2,038,669 $ 2,038,669 Coda Octopus Products, Ltd 62,315 62,315 Coda Octopus Martech, Ltd 1,281,124 1,281,124 Total Goodwill $ 3,382,108 $ 3,382,108 Considerable management judgment is necessary to estimate the fair value of goodwill. Based on various market factors and projections used by management, actual results could vary significantly from management’s estimates. The Company’s policy is to test its goodwill balances for impairment on an annual basis, in the fourth quarter of each year, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Based on these evaluations, the fair value of reporting unit exceeds its carrying value. As such no impairment was recorded by management.

Property and Equipment

Property and Equipment	12 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following as of: October 31, 2020 October 31, 2019 Buildings $ 5,103,324 $ 4,654,029 Land 200,000 200,000 Office machinery and equipment 2,044,405 1,954,938 Rental Assets 1,531,351 1,468,124 Furniture, fixtures and improvements 1,187,927 1,158,033 Totals 10,067,007 9,435,124 Less: accumulated depreciation (4,007,107 ) (3,448,312 ) Property and Equipment – Net $ 6,059,900 $ 5,986,812 Depreciation expense for the years ended October 31, 2020 and 2019 was $758,297 and $794,086 respectively. We own substantially all of our facilities and believe that the effect of adopting the FASB’s lease accounting standard has been immaterial.

Other Current Assets

Other Current Assets	12 Months Ended
	Oct. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	NOTE 5 - OTHER CURRENT ASSETS Other current assets consisted of the following at: October 31, 2020 October 31, 2019 Other Current Assets Deposits $ 112,984 $ 42,932 Tax receivables 131,187 255,255 Total Other Current Assets $ 244,171 $ 298,187

Capital Stock

Capital Stock	12 Months Ended
	Oct. 31, 2020
Equity [Abstract]
Capital Stock	NOTE 6 – CAPITAL STOCK Common Stock On November 16, 2018, the Company issued 23,965 shares to one investor pursuant to their pre-emption rights under the terms of the private placement effected on or around January 29, 2018 for a purchase price of $105,446. On February 3, 2019, the Company issued a total of 7,143 shares to one of its directors for services rendered. These shares had a fair value of $42,289. On June 24, 2019, the Company issued 20,000 shares of common stock to consultants for services rendered. These shares had a fair value of $291,800. On September 16, 2019, the Company issued 25,000 shares of common stock pursuant to the terms of the Company’s Stock Incentive Plan 2017 to a director of one of our foreign subsidiaries for services rendered. These shares had a fair value of $260,500. On September 16, 2019, the Company issued a total of 5,357 of common stock pursuant to the terms of the Company’s Stock Incentive Plan 2017 to one of its employees for services rendered. These shares had a fair value of $55,820. On June 9, 2020, the Company issued 30,000 shares of common stock to consultants for services rendered. These shares had a fair value of $169,500. During the fiscal year ended October 31, 2020, the Company granted options to purchase an aggregate of 561,000 shares of common stock pursuant to the terms of the Plan to various eligible individuals. As a result, as of October 31, 2020, there were 352,612 shares available under the Plan. The following table presents stock option activity for the years ended October 31, 2020 and 2019. Stock Options Total Weighted Average Exercise Price Exercisable Weighted Average Exercise Price Non-Vested Weighted Average Exercise Price Outstanding at October 31, 2018 - $ - - $ - - $ - Granted - - - - - - Vested - - - - - - Exercises - - - - - - Forfeited or cancelled - - - - - - Outstanding at October 31, 2019 - $ - - $ - - $ - Granted 564,000 $ 4.65 - - 564,000 $ 4.65 Vested - - - - - - Exercises - - - - - - Forfeited or cancelled (3,000 ) $ 4.65 - - (3,000 ) $ 4.65 Outstanding at October 31, 2020 561,000 $ 4.65 - - 561,000 $ 4.65 Aggregate Intrinsic Value October 31, 2019 $ - $ - $ - Aggregate Intrinsic Value October 31, 2020 $ 491,280 $ - $ - The intrinsic value as of October 31, 2020 was $491,280 and $0 for October 31, 2019. The total expense recognized by the Company during the year ended October 31, 2020 was $441,280. The expense in future years is $815,880. Preferred Stock Series A and Series C Preferred Stock The Company is authorized to issue 5,000,000 shares of preferred stock with a par value of $0.001 per share. We had previously designated 50,000 preferred shares as Series A preferred stock and 50,000 preferred shares as Series C preferred stock. Both series have since been eliminated and as of October 31, 2020 there were no Series A or Series C Preferred Stock issued or outstanding.

Income Taxes

Income Taxes	12 Months Ended
	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 7 - INCOME TAXES The Company provides for income taxes and the related accounts under the asset and liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates expected to be in effect during the year in which the basis differences reverse. Valuation allowances are established when management determines it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. The provision (benefit) for income taxes comprises: October 31, 2020 October 31, 2019 Current federal benefit $ (12,502 ) $ (75,004 ) Foreign tax (benefit) expense (38,161 ) 35,582 Total Current Tax Benefit (50,663 ) (39,422 ) Deferred federal expense 305,125 1,046,776 Deferred foreign benefit (196,240 ) - Deferred Tax Expense 108,885 1,046,776 Total Income Tax Expense $ 58,222 $ 1,007,354 The expense for income taxes differed from the U.S. statutory rate due to the following: October 31, 2020 October 31, 2019 Statutory tax rate 21.0 % 21.0 % Change in deferred taxes (17.1 )% (4.2 )% Alternative Minimum Tax (refund) (1.1 )% (1.2 )% Foreign tax expense (1.1 )% 0.5 % Total 1.7 % 16.1 % Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows: October 31, 2020 October 31, 2019 Noncurrent deferred tax assets U.S. NOL carryforwards $ 272,993 $ 670,787 Other - (39,103 ) Stock option compensation 92,669 - Foreign R&D refunds 196,240 - Total $ 561,902 $ 631,684 As of October 31, 2020, we had U.S. federal net operating loss (NOL) carryforwards of $1,299,969, which expire in 2029.

Notes Payable

Notes Payable	12 Months Ended
	Oct. 31, 2020
Debt Disclosure [Abstract]
Notes Payable	NOTE 8 - NOTES PAYABLE Notes payable consisted of the following at: October 31, 2020 October 31, 2019 Secured note payable to HSBC NA with interest payable on the 28 th $ 573,108 $ 1,059,574 Total 573,108 1,059,574 Less: current portion (509,769 ) (487,140 ) Total Long Term Notes Payable $ 63,339 $ 572,434 Years Ending October 31, Amount 2021 509,769 2022 63,339 Totals $ 573,108 The HSBC loan is secured by a blanket lien on all of the Company’s US subsidiaries. The foreign subsidiaries are each guarantors of the obligations undertaken in the loan agreement. The Company concluded a $4,000,000 revolving line of credit facility with HSBC NA on November 27, 2019, with the interest rate established as the applicable prime rate. The outstanding balance on the line of credit was $0 as of October 31, 2020. This revolving credit line which is subject to renewal will expire on November 26, 2021.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Oct. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	NOTE 9 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) consists of foreign currency translation adjustments. Total other comprehensive income (loss) was ($185,870) and $93,255 for the years ended October 31, 2020 and 2019, respectively. A reconciliation of the other comprehensive income (loss) in the stockholders’ equity section of the consolidated balance sheets is as follows: October 31, 2020 October 31, 2019 Balance, beginning of year $ (2,135,408 ) $ (2,228,663 ) Total other comprehensive income for the year - foreign currency translation adjustment (185,870 ) 93,255 Balance, end of period $ (2,321,278 ) $ (2,135,408 )

Concentrations

Concentrations	12 Months Ended
	Oct. 31, 2020
Risks and Uncertainties [Abstract]
Concentrations	NOTE 10 – CONCENTRATIONS Significant Customers During the year ended October 31, 2020, the Company had one customer from whom it generated sales greater than 10% of net revenues. Revenue from this customer was $4,273,702, or 21% of net revenues during the period. Total accounts receivable from this customer at October 31, 2020 was $214,747 or 11% of accounts receivable. During the year ended October 31, 2019, the Company had one customer from whom it generated sales greater than 10% of net revenues. Revenues from this customer was $6,764,199, or 27% of net revenues during the year. Total accounts receivable from this customer at October 31, 2019 was $898,584 or 20% of accounts receivable.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Oct. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	NOTE 11 - EMPLOYEE BENEFIT PLANS The Company’s U.S. subsidiaries maintain a 401(k) retirement plan. The plan allows the Company to make matching contributions of 4% of employee compensation, subject to IRS contribution limits. U.S. employees who have at least six months of service with the Company are eligible. In addition, the Company’s UK subsidiaries operate statutory pension schemes which provide for the payment of certain contribution by the Company and the Employee. These schemes in the UK operate on a defined contribution money purchase basis and the contributions are charged to operations as they arise. Finally, the Company is obligated to provide pension funding according the laws in which it operates including in both Denmark and Australia. The Company has an arrangement that fulfills this requirement. Employee benefit costs for the years ended October 31, 2020 and 2019 were $140,271 and $59,927, respectively.

Segment Analysis

Segment Analysis	12 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Segment Analysis	NOTE 12 -SEGMENT ANALYSIS Based on the fundamental difference in the types of offering products versus services, we operate two distinct reportable segments which are managed separately. Coda Octopus Products (“Marine Technology Business” or “Products Segment”) operations are comprised primarily of sale of underwater technology sonar solutions, products for underwater operations including hardware and software; and rental of solutions and products to the underwater market. Coda Octopus Martech and Coda Octopus Colmek (“Marine Engineering Business” or “Services Segment”) provides engineering services primarily as sub-contractors to prime defense contractors. 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. 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 years ended October 31, 2020 and 2019, respectively. The Company’s reportable business segments sell their goods and services in four geographic locations: ● Americas ● Europe ● Australia/Asia ● Middle East/Africa Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Year Ended October 31, 2020 Revenues from External Customers $ 11,278,181 $ 8,765,629 $ - $ 20,043,810 Cost of Revenues 2,254,008 5,060,354 - 7,314,362 Gross Profit 9,024,173 3,705,275 - 12,729,448 Research & Development 1,955,364 1,042,243 190,782 3,188,389 Selling, General & Administrative 2,779,662 2,260,849 1,696,783 6,737,294 Total Operating Expenses 4,735,026 3,303,092 1,887,565 9,925,683 Income (Loss) from Operations 4,289,147 402,183 (1,887,565 ) 2,803,765 Other Income (Expense) Other Income 19,184 190 - 19,374 Funding from Paycheck Protection Program 122,327 526,544 - 648,871 Interest (Expense) (10,612 ) (15,672 ) (43,919 ) (70,203 ) Total Other Income (Expense) 130,899 511,062 (43,919 ) 598,042 Net Income (Loss) before Income Taxes 4,420,046 913,245 (1,931,484 ) 3,401,807 Income Tax Benefit (Expense) Current Tax Benefit (Expense) 63,590 - (12,927 ) 50,663 Deferred Tax (Expense) Benefit (196,664 ) 273,666 (185,887 ) (108,885 ) Total Income Tax (Expense) Benefit (133,074 ) 273,666 (198,814 ) (58,222 ) Net Income (Loss) $ 4,286,972 $ 1,186,911 $ (2,130,298 ) $ 3,343,585 Supplemental Disclosures Total Assets $ 22,200,123 $ 14,347,827 $ 1,491,201 $ 38,039,151 Total Liabilities $ 1,572,314 $ 1,321,011 $ 749,558 $ 3,642,883 Revenues from Intercompany Sales - eliminated from sales above $ 997,150 $ 354,373 $ 2,700,000 $ 4,051,523 Depreciation and Amortization $ 678,449 $ 105,775 $ 22,462 $ 806,686 Purchases of Long-lived Assets $ 811,352 $ 19,660 $ 167,323 $ 998,335 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Year Ended October 31, 2019 Revenues from External Customers $ 12,908,110 $ 12,148,824 $ - $ 25,056,934 Cost of Revenues 2,519,768 6,107,847 - 8,627,615 Gross Profit 10,388,342 6,040,977 - 16,429,319 Research & Development 2,208,749 146,061 446,521 2,801,331 Selling, General & Administrative 3,080,134 2,492,410 1,802,007 7,374,551 Total Operating Expenses 5,288,883 2,638,471 2,248,528 10,175,882 Income (Loss) from Operations 5,099,459 3,402,506 (2,248,528 ) 6,253,437 Other Income (Expense) Other Income 70,186 26 - 70,212 Interest Expense (10,564 ) (14,820 ) (65,712 ) (91,096 ) Total Other Income (Expense) 59,622 (14,794 ) (65,712 ) (20,884 ) Net Income (Loss) before Income Taxes 5,159,081 3,387,712 (2,314,240 ) 6,232,553 Current Tax Benefit (9,391 ) 33,454 15,359 39,422 Deferred Tax (Expense) (336,101 ) (496,318 ) (214,357 ) (1,046,776 ) Total Income Tax Expense (345,492 ) (462,864 ) (198,998 ) (1,007,354 ) Net Income (Loss) $ 4,813,589 $ 2,924,848 $ (2,513,238 ) $ 5,225,199 Supplemental Disclosures Total Assets $ 19,386,652 $ 14,165,120 $ 959,472 $ 34,511,244 Total Liabilities $ 1,753,823 $ 962,641 $ 1,167,007 $ 3,883,471 Revenues from Intercompany Sales - eliminated from sales above $ 1,590,548 $ 145,150 $ 2,700,000 $ 4,435,698 Depreciation and Amortization $ 581,942 $ 236,092 $ 15,741 $ 833,775 Purchases of Long-lived Assets $ 2,183,009 $ 81,446 $ 37,180 $ 2,301,635 For the Year Ended October 31, 2020 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 1,368,113 $ - $ 1,368,113 Equipment Rentals 175,282 - 175,282 Software Sales 35,635 - 35,635 Engineering Parts - 4,546,391 4,546,391 Services 1,422,830 1,230,283 2,653,113 Europe Equipment Sales 583,006 230,060 813,066 Equipment Rentals 697,638 - 697,638 Software Sales 113,860 - 113,860 Engineering Parts - 2,753,488 2,753,488 Services 485,954 5,407 491,361 Australia/Asia Equipment Sales 5,165,905 - 5,165,905 Equipment Rentals 487,639 - 487,639 Software Sales 304,143 - 304,143 Services 297,823 - 297,823 Middle East & Africa Equipment Sales 66,556 - 66,556 Equipment Rentals 592 - 592 Software Sales - - - Services 73,205 - 73,205 Total Net Sales $ 11,278,181 $ 8,765,629 $ 20,043,810 For the Year Ended October 31, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 3,001,860 $ 5,776,674 $ 8,778,534 Europe 1,880,458 2,988,955 4,869,413 Australia/Asia 6,255,510 - 6,255,510 Middle East & Africa 140,353 - 140,353 Total Net Sales $ 11,278,181 $ 8,765,629 $ 20,043,810 For the Year Ended October 31, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 7,183,580 $ 230,060 $ 7,413,640 Equipment Rentals 1,361,151 - 1,361,151 Software Sales 453,638 - 453,638 Engineering Parts - 7,299,879 7,299,879 Services 2,279,812 1,235,690 3,515,502 Total Net Sales $ 11,278,181 $ 8,765,629 $ 20,043,810 For the Year Ended October 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 744,604 $ 57,497 $ 802,101 Equipment Rentals 639,055 - 639,055 Software Sales 53,540 - 53,540 Engineering Parts - 9,117,338 9,117,338 Services 1,187,873 1,744,577 2,932,450 Europe Equipment Sales 1,626,052 145,933 1,771,985 Equipment Rentals 1,137,244 - 1,137,244 Software Sales 167,903 - 167,903 Engineering Parts - 1,023,822 1,023,822 Services 726,050 59,657 785,707 Australia/Asia Equipment Sales 4,259,093 - 4,259,093 Equipment Rentals 876,141 - 876,141 Software Sales 324,222 - 324,222 Services 627,615 - 627,615 Middle East & Africa Equipment Sales 301,165 - 301,165 Equipment Rentals 36,130 - 36,130 Software Sales 58,826 - 58,826 Services 142,597 - 142,597 Total Net Sales $ 12,908,110 $ 12,148,824 $ 25,056,934 For the Year Ended October 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 2,625,072 $ 10,919,412 $ 13,544,484 Europe 3,657,249 1,229,412 4,886,661 Australia/Asia 6,087,071 - 6,087,071 Middle East & Africa 538,718 - 538,718 Total Net Sales $ 12,908,110 $ 12,148,824 $ 25,056,934 For the Year Ended October 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 6,930,914 $ 203,430 $ 7,134,344 Equipment Rentals 2,688,570 - 2,688,570 Software Sales 604,491 - 604,491 Engineering Parts - 10,141,160 10,141,160 Services 2,684,135 1,804,234 4,488,369 Total Net Sales $ 12,908,110 $ 12,148,824 $ 25,056,934

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 13 – COMMITMENTS AND CONTINGENCIES Employment Agreements Annmarie Gayle Pursuant to the terms of an employment agreement dated March 16, 2017, the Company employs Ms. Gayle as its Chief Executive Officer on a full-time basis and a member of its Board of Directors. With effect from July 1, 2019, Ms. Gayle’s annual salary was increased from $230,000 to $305,000 payable on a monthly basis. Ms. Gayle is also entitled to an annual performance bonus of up to $100,000, upon achieving certain targets that are to be defined on an annual basis. The agreement provides for 30 days of paid holidays in addition to public holidays observed in Scotland. The agreement has no definitive term and may be terminated only upon twelve months’ prior written notice by Ms. Gayle. In the event that the Company terminates her at any time without cause, she is entitled to a payment equal to her annual salary as well as a separation bonus of $150,000. The Company may terminate the agreement for cause, immediately and without notice. Among others, “for cause” includes gross misconduct, a serious or repeated breach of the agreement and negligence and incompetence as reasonably determined by the Company’s Board. The agreement includes a 12-month non-compete and non-solicitation provision. Blair Cunningham Under the terms of an employment contract dated January 1, 2013, our wholly owned subsidiary Coda Octopus Products, Inc. employs Blair Cunningham as its Chief Executive Officer and President of Technology. He is being paid an annual base salary of $200,000 with effect from January 1, 2020, subject to review by the Company’s Chief Executive Officer. Mr. Cunningham is entitled to 25 vacation days in addition to any public holiday. The agreement may be terminated only upon twelve-month prior written notice without cause. The Company may terminate the agreement for cause, immediately and without notice. Among others, “for cause” includes gross misconduct, a serious or repeated breach of the agreement and negligence and incompetence as reasonably determined by the Company’s Board. The agreement includes an 18-month non-compete and non-solicitation provision. Michael Midgley Pursuant to the terms of an employment agreement dated June 1, 2011, Mike Midgley was appointed the Chief Executive Officer of our wholly owned subsidiary Coda Octopus Colmek, Inc. and our Chief Financial Officer. He is being paid an annual salary of $210,000 subject to an annual review by Colmek’s Board of Directors and the Company’s Chief Executive Officer. Mr. Midgley is entitled to 20 vacation days in addition to any public holiday. The agreement may be terminated at any time upon 4-month prior written notice. The Company may terminate the agreement for cause, immediately and without notice. Among others, “for cause” includes gross misconduct, a serious or repeated breach of the agreement and negligence and incompetence as reasonably determined by the Company’s Board. The agreement includes a 12-month non-compete and non-solicitation provision. On December 6, 2017, the board of directors of the Company appointed Mr. Midgley to be the Company’s Chief Financial Officer. In connection with this appointment, all rights and obligations under Mr. Midgley’s employment agreement with Colmek were transferred to and have been assumed by Coda Octopus Group, Inc. Litigation Currently there is no litigation.

Payroll Protection Program

Payroll Protection Program	12 Months Ended
	Oct. 31, 2020
Payroll Protection Program
Payroll Protection Program	NOTE 14 – PAYROLL PROTECTION PROGRAM In the 2020 FY certain of our US companies, received a total of $648,871 in Pandemic relief under the US Government Payroll Protection Program (“PPP”). The proceeds from the PPP were used to offset US employees’ salaries during the Pandemic. This amount has now been forgiven under the Program and is recorded in our accounts as “Other Income”. These amounts were received by our US companies in April and May of 2020. The companies applied for forgiveness of the loans in September 2020 and the loans were forgiven in November 2020.

COVID-19

COVID-19	12 Months Ended
	Oct. 31, 2020
Covid-19
COVID-19	NOTE 15 – COVID-19 The Company faces various risks related to the global outbreak of coronavirus disease 2019 (“COVID-19”). The Engineering Services Business is dependent on its workforce to deliver its products and services primarily to the U.S. and U.K. Governments. If significant portions of the Engineering Services Business’s workforce are unable to work effectively, or if the U.S. or UK. Government and/or other customers’ operations are curtailed due to illness, quarantines, government actions, facility closures, or other restrictions in connection with the COVID-19 Pandemic, the Engineering Services Business’s operations is likely be severely impacted. The Engineering Services Business may be unable to perform fully on its contracts and costs may increase as a result of the COVID-19 outbreak. These cost increases may not be fully recoverable either from our customers or under existing insurance policies. At this time, the Company’s management cannot predict with any precision the full extent of the impact which COVID-19 Pandemic will have on the Company, but management continues to mitigate where it can and monitor the situation, to assess further possible implications to operations, the supply chain, and customers, and to take actions in an effort to mitigate adverse consequences. Further, the Pandemic may have a material adverse effect on the Company’s results of operations, financial position, and liquidity in fiscal year 2021. The Marine Technology Business is dependent on its workforce and/or distributors/resellers to sell and deliver its products and services. Developments such as social distancing, shelter -in- place directives and travel restrictions introduced by governments have impacted the Marine Products Business’s ability to deploy its workforce effectively. These same developments may affect the operations of the Company’s suppliers, Customers and distributors/resellers, as their own workforces and operations are disrupted by efforts to curtail the spread of this virus. The Company, being a manufacturing company, in large part is unable to work remotely. The Company’s activities are performed in certain international locations that are also impacted by the COVID-19 outbreak. While expected to be temporary, these disruptions will negatively impact the Marine Technology Business’s sales, its ongoing development projects, its results of operations, financial condition, and liquidity in 2021.

Related Party Transaction

Related Party Transaction	12 Months Ended
	Oct. 31, 2020
Related Party Transactions [Abstract]
Related Party Transaction	NOTE 16 – RELATED PARTY TRANSACTION During the fiscal year ended October 31, 2019, the Company sold our Orlando property to Blair Cunningham an Officer for $705,000 cash. It was determined that this was a fair value for the property based on review of comparable sales. The proceeds of sale were used to purchase the current office/manufacturing facility in Orlando.

Subsequent Events

Subsequent Events	12 Months Ended
	Oct. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 17 – SUBSEQUENT EVENTS The Company has evaluated subsequent events occurring through the date that the financial statements were issued, for events requiring, recording or disclosure in the October 31, 2020 consolidated financial statements. Besides the ongoing Pandemic which continues to impact our business, particularly curtailment of our business operations, there are no other material events or transactions occurring during this period requiring recognition or disclosure.

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	12 Months Ended
	Oct. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	a. Basis of Presentation The Company has adopted the Financial Accounting Standards Board (FASB) Codification (Codification). The Codification is the single official source of authoritative accounting principles generally accepted in the United States of America (U.S. GAAP) recognized by the FASB to be applied by nongovernmental entities, and all of the Codification’s content carries the same level of authority.
Cash	b. Cash The Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. At times such investments may be in excess of federal deposit insurance limits.
Trade Accounts Receivable	c. Trade Accounts Receivable Trade accounts receivable are recorded net of the allowance for doubtful accounts. The Company provides for an allowance for doubtful collections that is based upon a review of outstanding receivables, historical collection information, and existing economic conditions. Balances still outstanding after the Company has used reasonable collection efforts are written off though a charge to the valuation allowance and a credit to trade accounts receivable. The allowance for doubtful accounts was $47,807 as of October 31, 2020 and 2019, respectively.
Property and Equipment	d. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Expenditures for minor replacements, maintenance and repairs which do not increase the useful lives of the property and equipment are charged to operations as incurred. Major additions and improvements are capitalized. Depreciation and amortization are computed using the straight-line method over their estimated useful lives which is typically three to five years for equipment and 30 years for buildings.
Advertising	e. Advertising Coda follows the policy of charging the costs of advertising to expense as incurred, which aggregated $4,884 and $18,271 for the years ended October, 31 2020 and 2019 respectively.
Inventory	f. Inventory Inventory is stated at the lower of cost (Weighted Average method) or net realizable value. Inventory consisted of the following components: October 31, 2020 October 31, 2019 Inventory Raw materials and parts $ 7,322,688 $ 4,379,260 Work in progress 698,756 517,354 Finished goods 1,120,829 453,900 Total Inventory $ 9,142,273 $ 5,350,514
Estimates	g. Estimates The preparation of consolidated financial statements in conformity with U.S. 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 estimates related to the percentage of completion method used to account for contracts including costs and earnings in excess of billings, billings in excess of costs and estimated earnings and the valuation of goodwill.
Revenue Recognition	h. 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 which we provide primarily 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 Business”), 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 offerings 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 distinct to the functionality of the software, we recognize revenue upon delivery of the software. With respect to revenues related to our Services Business, 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 the 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. On a quarterly basis, 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 incremental direct 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. As of October 31, 2020 and 2019, we had deferred commissions of $3,884 and $68,175, respectively. Amortization expense related to deferred commissions was $125,284 and $127,590 in the years ended October 31, 2020 and 2019, respectively. Other Revenue Disclosures See Note 12 – 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.
Concentration of Risk	i. Concentrations of Risk Credit losses, if any, have been provided for in the consolidated financial statements and are based on management’s expectations. The Company’s accounts receivables are subject to potential concentrations of credit risk, since a significant part of the Company’s sales are to a small number of companies and, even though these are generally established businesses, market fluctuations such as the price of oil may affect our customers’ ability to meet their obligations to us. Furthermore, Trade disputes may result in impairment or delays in receivables. The Company’s bank deposits are held with financial institutions both in and outside the USA. At times, such amounts may be in excess of applicable government mandated insurance limits. The Company has not experienced any losses in such accounts or lack of access to its cash, and believes it is not exposed to significant risk of loss with respect to cash.
Contracts in Progress (Unbilled Receivables and Deferred Revenue)	j. Contracts in Progress (Unbilled Receivables and Deferred Revenue) 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 balance sheet. These amounts are stated on the consolidated balance sheets as Unbilled Receivables of $861,300 and $2,279,362 as of October 31, 2020 and 2019, respectively. Our Deferred Revenue of $989,588 and $973,735 as of October 31, 2020 and 2019, respectively, consists of billings in excess of costs and revenues received as part of our warranty obligations upon completing a sale, as elaborated further in the last paragraph of this note. Revenue received as part of sales of equipment includes a provision for warranty and is treated as deferred revenue, along with extended warranty sales, which may be purchased by customers. These amounts are amortized over the relevant warranty period (12 months is our standard warranty or 24, 36 or 60 months for extended warranty) from the date of sale. These amounts are stated on the consolidated balance sheets as a component of Deferred Revenue and were $211,888 and $497,819 as of October 31, 2020 and 2019, respectively.
Income Taxes	k. Income Taxes The Company accounts for income taxes in accordance with Accounting Standards Codification 740, Income Taxes Deferred tax assets and liabilities are the amounts by which the Company’s future income taxes are expected to be impacted by these differences as they reverse. Deferred tax assets are based on differences that are expected to decrease future income taxes as they reverse. Correspondingly, deferred tax liabilities are based on differences that are expected to increase future income taxes as they reverse. Note 7 below discusses the amounts of deferred tax assets and liabilities, and also presents the impact of significant differences between financial reporting income and taxable income. For income tax purposes, the Company uses the percentage of completion method of recognizing revenues on long-term contracts which is consistent with the Company’s financial reporting under U.S. GAAP.
Goodwill and Intangible Assets	l. Goodwill and Intangible Assets Goodwill and Intangible assets consist principally of the excess of cost over the fair value of net assets acquired (or goodwill), customer relationships, non-compete agreements and licenses. Goodwill was allocated to our reporting units based on the original purchase price allocation. Goodwill is not amortized and is evaluated for impairment annually or more often if circumstances indicate impairment may exist. Customer relationships, non-compete agreements, patents and licenses are being amortized on a straight-line basis over periods of 2 to 15 years. The Company amortizes its limited life goodwill and intangible assets using the straight-line method over their estimated period of benefit. We periodically evaluate the recoverability of goodwill and intangible assets and take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists. Step 1 of the goodwill impairment test, used to identify potential impairment, compares the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value, which is based on future cash flows, exceeds the carrying amount, goodwill is not considered impaired. If the carrying amount exceeds the fair value, the Step 2 must be performed to measure the amount of the impairment loss, if any. The Company has adopted Accounting Standards Codification 2017 – 04, simplifying the Test for Goodwill Impairment, which permits the Company to impair the difference between carrying amounts in excess of the fair value of the reporting unit as the reduction in goodwill. ASC 2017-04 eliminates the requirement in previous GAAP to perform Step 2 of the goodwill impairment test. At the end of each year, we evaluate goodwill on a separate reporting unit basis to assess recoverability, and impairments, if any, are recognized in earnings. An impairment loss would be recognized in an amount equal to the excess of the carrying amount of the reporting unit over the fair value of the reporting unit. There were no impairment charges recognized during the years ended October 31, 2020 and 2019.
Fair Value of Financial Instruments	m. Fair Value of Financial Instruments The Company’s financial instruments include cash, accounts receivable, accounts payable, accrued expenses and notes payable. The carrying amounts of cash, accounts receivable, accounts payable and accrued expenses approximate fair values because of the short-term nature of these instruments. The aggregate carrying amount of the notes payable approximates fair value as they bear interest at a market interest rate based on their term and maturity. The fair value of the Company’s long-term debt approximates its carrying amount based on the fact that the Company believes it could obtain similar terms and conditions for similar debt.
Foreign Currency Translation	n. Foreign Currency Translation Assets and liabilities are translated at the prevailing exchange rates at the balance sheet dates. Related revenues and expenses are translated at weighted average exchange rates in effect during the period. Stockholders’ equity, fixed assets and long-term investments are recorded at historical exchange rates. Resulting translation adjustments are recorded as a separate component in stockholders’ equity as part of accumulated other comprehensive income or (loss) as may be appropriate. Foreign currency transaction gains and losses are included in the consolidated statements of income and comprehensive income.
Long-Lived Assets	o. Long-Lived Assets Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The carrying amount of a long-lived asset is not recoverable if its carrying amount exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposal of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. No impairment loss was recognized during the years ended October 31, 2020 and 2019, respectively.
Research and Development	p. Research and Development Research and development costs consist of expenditures for the development of present and future patents and technology, which are not capitalizable. Under current legislation, we are eligible for UK tax credits related to our qualified research and development expenditures. Tax credits are classified as a reduction of research and development expense. During the years ended October 31, 2020 and 2019, we had $0 and $0, respectively.
Stock Based Compensation	q. Stock Based Compensation In accordance with the accounting rules for stock compensation, for time based awards, the Company is accruing a stock compensation expense and increase to additional paid in capital based on the market value of the common stock as of the grant date throughout the vesting period. The vesting period for the awards is three years and is based on the employee’s continuous service to the Company. Prior to vesting, the awards are subject to forfeiture in whole or in part under certain circumstances. We use the Black-Scholes method for equity instruments granted to employees.
Comprehensive Income	r. Comprehensive Income Comprehensive income is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Comprehensive income includes gains and losses on foreign currency translation adjustments and is included as a component of stockholders’ equity.
Earnings Per Share	s. Earnings per Share We compute basic earnings per share by dividing the income attributable to common shareholders by the weighted average number of common shares outstanding in the reporting period. Following is a reconciliation of earnings from continuing operations and weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share: Year Year Ended Ended October 31, October 31, Fiscal Period 2020 2019 Numerator: Net Income (Loss) $ 3,343,585 $ 5,225,199 Denominator: Basic weighted average common shares outstanding 10,733,799 10,680,007 Options issued 561,000 - Diluted outstanding shares 11,294,799 10,680,007 Earnings (Loss) from continuing operations Basic $ 0.31 $ 0.49 Diluted $ 0.30 $ 0.49
Reclassification of Prior Year Presentation	t. 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.
Recent Accounting Pronouncements	u. Recent Accounting Pronouncements There have been no new accounting pronouncements not yet effective that have significance, or potential significance, to our Consolidated Financial Statements.

Summary of Accounting Policie_2

Summary of Accounting Policies (Tables)	12 Months Ended
	Oct. 31, 2020
Accounting Policies [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: October 31, 2020 October 31, 2019 Inventory Raw materials and parts $ 7,322,688 $ 4,379,260 Work in progress 698,756 517,354 Finished goods 1,120,829 453,900 Total Inventory $ 9,142,273 $ 5,350,514
Schedule of Earnings Per Share Basic and Diluted	Following is a reconciliation of earnings from continuing operations and weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share: Year Year Ended Ended October 31, October 31, Fiscal Period 2020 2019 Numerator: Net Income (Loss) $ 3,343,585 $ 5,225,199 Denominator: Basic weighted average common shares outstanding 10,733,799 10,680,007 Options issued 561,000 - Diluted outstanding shares 11,294,799 10,680,007 Earnings (Loss) from continuing operations Basic $ 0.31 $ 0.49 Diluted $ 0.30 $ 0.49

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Oct. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Value of Identifiable Goodwill and Intangible Assets	Amortization of patents, customer relationships, non-compete agreements and licenses included as a charge to income amounted to $44,642 and $39,689 for the years ended October 31, 2020 and 2019, respectively. Goodwill is not being amortized. October 31, 2020 October 31, 2019 Customer relationships (weighted average life of 10 years) $ 720,592 $ 720,592 Non-compete agreements (weighted average life of 3 years) 198,911 198,911 Patents and other (weighted average life of 10 years) 472,173 381,785 Total identifiable intangible assets - gross carrying value 1,391,676 1,301,288 Less: accumulated amortization (1,042,332 ) (1,070,505 ) Total intangible assets, net $ 349,344 $ 230,783
Schedule of Estimated Future Amortization Expenses	Future estimated annual amortization expenses as of October 31, 2020 as follows: Years Ending October 31, Amount 2021 46,338 2022 46,317 2023 43,978 2024 33,000 2025 19,409 Thereafter 160,302 Totals $ 349,344
Schedule of Goodwill	The carrying amount of goodwill as of October 31, 2020 and 2019, respectively, are recorded below: October 31, 2020 October 31, 2019 Breakout of Goodwill: Coda Octopus Colmek, Inc. $ 2,038,669 $ 2,038,669 Coda Octopus Products, Ltd 62,315 62,315 Coda Octopus Martech, Ltd 1,281,124 1,281,124 Total Goodwill $ 3,382,108 $ 3,382,108

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of: October 31, 2020 October 31, 2019 Buildings $ 5,103,324 $ 4,654,029 Land 200,000 200,000 Office machinery and equipment 2,044,405 1,954,938 Rental Assets 1,531,351 1,468,124 Furniture, fixtures and improvements 1,187,927 1,158,033 Totals 10,067,007 9,435,124 Less: accumulated depreciation (4,007,107 ) (3,448,312 ) Property and Equipment – Net $ 6,059,900 $ 5,986,812

Other Current Assets (Tables)

Other Current Assets (Tables)	12 Months Ended
	Oct. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Other Current Assets	Other current assets consisted of the following at: October 31, 2020 October 31, 2019 Other Current Assets Deposits $ 112,984 $ 42,932 Tax receivables 131,187 255,255 Total Other Current Assets $ 244,171 $ 298,187

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
	Oct. 31, 2020
Equity [Abstract]
Schedule of Stock Option Activity	The following table presents stock option activity for the years ended October 31, 2020 and 2019. Stock Options Total Weighted Average Exercise Price Exercisable Weighted Average Exercise Price Non-Vested Weighted Average Exercise Price Outstanding at October 31, 2018 - $ - - $ - - $ - Granted - - - - - - Vested - - - - - - Exercises - - - - - - Forfeited or cancelled - - - - - - Outstanding at October 31, 2019 - $ - - $ - - $ - Granted 564,000 $ 4.65 - - 564,000 $ 4.65 Vested - - - - - - Exercises - - - - - - Forfeited or cancelled (3,000 ) $ 4.65 - - (3,000 ) $ 4.65 Outstanding at October 31, 2020 561,000 $ 4.65 - - 561,000 $ 4.65 Aggregate Intrinsic Value October 31, 2019 $ - $ - $ - Aggregate Intrinsic Value October 31, 2020 $ 491,280 $ - $ -

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Provision (Benefit) for Income Taxes	The provision (benefit) for income taxes comprises: October 31, 2020 October 31, 2019 Current federal benefit $ (12,502 ) $ (75,004 ) Foreign tax (benefit) expense (38,161 ) 35,582 Total Current Tax Benefit (50,663 ) (39,422 ) Deferred federal expense 305,125 1,046,776 Deferred foreign benefit (196,240 ) - Deferred Tax Expense 108,885 1,046,776 Total Income Tax Expense $ 58,222 $ 1,007,354
Schedule of Reconciliation of Income Tax Benefit	The expense for income taxes differed from the U.S. statutory rate due to the following: October 31, 2020 October 31, 2019 Statutory tax rate 21.0 % 21.0 % Change in deferred taxes (17.1 )% (4.2 )% Alternative Minimum Tax (refund) (1.1 )% (1.2 )% Foreign tax expense (1.1 )% 0.5 % Total 1.7 % 16.1 %
Schedule of Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities are as follows: October 31, 2020 October 31, 2019 Noncurrent deferred tax assets U.S. NOL carryforwards $ 272,993 $ 670,787 Other - (39,103 ) Stock option compensation 92,669 - Foreign R&D refunds 196,240 - Total $ 561,902 $ 631,684

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Oct. 31, 2020
Debt Disclosure [Abstract]
Schedule of Notes Payable	Notes payable consisted of the following at: October 31, 2020 October 31, 2019 Secured note payable to HSBC NA with interest payable on the 28 th $ 573,108 $ 1,059,574 Total 573,108 1,059,574 Less: current portion (509,769 ) (487,140 ) Total Long Term Notes Payable $ 63,339 $ 572,434
Schedule of Principal Maturities of Notes Payable	Years Ending October 31, Amount 2021 509,769 2022 63,339 Totals $ 573,108

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Oct. 31, 2020
Equity [Abstract]
Schedule of Other Comprehensive Income (Loss)	A reconciliation of the other comprehensive income (loss) in the stockholders’ equity section of the consolidated balance sheets is as follows: October 31, 2020 October 31, 2019 Balance, beginning of year $ (2,135,408 ) $ (2,228,663 ) Total other comprehensive income for the year - foreign currency translation adjustment (185,870 ) 93,255 Balance, end of period $ (2,321,278 ) $ (2,135,408 )

Segment Analysis (Tables)

Segment Analysis (Tables)	12 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Year Ended October 31, 2020 Revenues from External Customers $ 11,278,181 $ 8,765,629 $ - $ 20,043,810 Cost of Revenues 2,254,008 5,060,354 - 7,314,362 Gross Profit 9,024,173 3,705,275 - 12,729,448 Research & Development 1,955,364 1,042,243 190,782 3,188,389 Selling, General & Administrative 2,779,662 2,260,849 1,696,783 6,737,294 Total Operating Expenses 4,735,026 3,303,092 1,887,565 9,925,683 Income (Loss) from Operations 4,289,147 402,183 (1,887,565 ) 2,803,765 Other Income (Expense) Other Income 19,184 190 - 19,374 Funding from Paycheck Protection Program 122,327 526,544 - 648,871 Interest (Expense) (10,612 ) (15,672 ) (43,919 ) (70,203 ) Total Other Income (Expense) 130,899 511,062 (43,919 ) 598,042 Net Income (Loss) before Income Taxes 4,420,046 913,245 (1,931,484 ) 3,401,807 Income Tax Benefit (Expense) Current Tax Benefit (Expense) 63,590 - (12,927 ) 50,663 Deferred Tax (Expense) Benefit (196,664 ) 273,666 (185,887 ) (108,885 ) Total Income Tax (Expense) Benefit (133,074 ) 273,666 (198,814 ) (58,222 ) Net Income (Loss) $ 4,286,972 $ 1,186,911 $ (2,130,298 ) $ 3,343,585 Supplemental Disclosures Total Assets $ 22,200,123 $ 14,347,827 $ 1,491,201 $ 38,039,151 Total Liabilities $ 1,572,314 $ 1,321,011 $ 749,558 $ 3,642,883 Revenues from Intercompany Sales - eliminated from sales above $ 997,150 $ 354,373 $ 2,700,000 $ 4,051,523 Depreciation and Amortization $ 678,449 $ 105,775 $ 22,462 $ 806,686 Purchases of Long-lived Assets $ 811,352 $ 19,660 $ 167,323 $ 998,335 Marine Technology Business (Products) Marine Engineering Business (Services) Overhead Total Year Ended October 31, 2019 Revenues from External Customers $ 12,908,110 $ 12,148,824 $ - $ 25,056,934 Cost of Revenues 2,519,768 6,107,847 - 8,627,615 Gross Profit 10,388,342 6,040,977 - 16,429,319 Research & Development 2,208,749 146,061 446,521 2,801,331 Selling, General & Administrative 3,080,134 2,492,410 1,802,007 7,374,551 Total Operating Expenses 5,288,883 2,638,471 2,248,528 10,175,882 Income (Loss) from Operations 5,099,459 3,402,506 (2,248,528 ) 6,253,437 Other Income (Expense) Other Income 70,186 26 - 70,212 Interest Expense (10,564 ) (14,820 ) (65,712 ) (91,096 ) Total Other Income (Expense) 59,622 (14,794 ) (65,712 ) (20,884 ) Net Income (Loss) before Income Taxes 5,159,081 3,387,712 (2,314,240 ) 6,232,553 Current Tax Benefit (9,391 ) 33,454 15,359 39,422 Deferred Tax (Expense) (336,101 ) (496,318 ) (214,357 ) (1,046,776 ) Total Income Tax Expense (345,492 ) (462,864 ) (198,998 ) (1,007,354 ) Net Income (Loss) $ 4,813,589 $ 2,924,848 $ (2,513,238 ) $ 5,225,199 Supplemental Disclosures Total Assets $ 19,386,652 $ 14,165,120 $ 959,472 $ 34,511,244 Total Liabilities $ 1,753,823 $ 962,641 $ 1,167,007 $ 3,883,471 Revenues from Intercompany Sales - eliminated from sales above $ 1,590,548 $ 145,150 $ 2,700,000 $ 4,435,698 Depreciation and Amortization $ 581,942 $ 236,092 $ 15,741 $ 833,775 Purchases of Long-lived Assets $ 2,183,009 $ 81,446 $ 37,180 $ 2,301,635
Schedule of Disaggregate of Revenue from Contracts for Sale with Customers by Geographic Location	For the Year Ended October 31, 2020 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 1,368,113 $ - $ 1,368,113 Equipment Rentals 175,282 - 175,282 Software Sales 35,635 - 35,635 Engineering Parts - 4,546,391 4,546,391 Services 1,422,830 1,230,283 2,653,113 Europe Equipment Sales 583,006 230,060 813,066 Equipment Rentals 697,638 - 697,638 Software Sales 113,860 - 113,860 Engineering Parts - 2,753,488 2,753,488 Services 485,954 5,407 491,361 Australia/Asia Equipment Sales 5,165,905 - 5,165,905 Equipment Rentals 487,639 - 487,639 Software Sales 304,143 - 304,143 Services 297,823 - 297,823 Middle East & Africa Equipment Sales 66,556 - 66,556 Equipment Rentals 592 - 592 Software Sales - - - Services 73,205 - 73,205 Total Net Sales $ 11,278,181 $ 8,765,629 $ 20,043,810 For the Year Ended October 31, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 3,001,860 $ 5,776,674 $ 8,778,534 Europe 1,880,458 2,988,955 4,869,413 Australia/Asia 6,255,510 - 6,255,510 Middle East & Africa 140,353 - 140,353 Total Net Sales $ 11,278,181 $ 8,765,629 $ 20,043,810 For the Year Ended October 31, 2020 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 7,183,580 $ 230,060 $ 7,413,640 Equipment Rentals 1,361,151 - 1,361,151 Software Sales 453,638 - 453,638 Engineering Parts - 7,299,879 7,299,879 Services 2,279,812 1,235,690 3,515,502 Total Net Sales $ 11,278,181 $ 8,765,629 $ 20,043,810 For the Year Ended October 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Disaggregation of Total Net Sales Americas Equipment Sales $ 744,604 $ 57,497 $ 802,101 Equipment Rentals 639,055 - 639,055 Software Sales 53,540 - 53,540 Engineering Parts - 9,117,338 9,117,338 Services 1,187,873 1,744,577 2,932,450 Europe Equipment Sales 1,626,052 145,933 1,771,985 Equipment Rentals 1,137,244 - 1,137,244 Software Sales 167,903 - 167,903 Engineering Parts - 1,023,822 1,023,822 Services 726,050 59,657 785,707 Australia/Asia Equipment Sales 4,259,093 - 4,259,093 Equipment Rentals 876,141 - 876,141 Software Sales 324,222 - 324,222 Services 627,615 - 627,615 Middle East & Africa Equipment Sales 301,165 - 301,165 Equipment Rentals 36,130 - 36,130 Software Sales 58,826 - 58,826 Services 142,597 - 142,597 Total Net Sales $ 12,908,110 $ 12,148,824 $ 25,056,934 For the Year Ended October 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Geographic Area Americas $ 2,625,072 $ 10,919,412 $ 13,544,484 Europe 3,657,249 1,229,412 4,886,661 Australia/Asia 6,087,071 - 6,087,071 Middle East & Africa 538,718 - 538,718 Total Net Sales $ 12,908,110 $ 12,148,824 $ 25,056,934 For the Year Ended October 31, 2019 Marine Marine Technology Engineering Grand Business Business Total Total Net Sales by Product Line Equipment Sales $ 6,930,914 $ 203,430 $ 7,134,344 Equipment Rentals 2,688,570 - 2,688,570 Software Sales 604,491 - 604,491 Engineering Parts - 10,141,160 10,141,160 Services 2,684,135 1,804,234 4,488,369 Total Net Sales $ 12,908,110 $ 12,148,824 $ 25,056,934

Summary of Accounting Policie_3

Summary of Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Allowance for doubtful accounts receivable	$ 47,807	$ 47,807
Advertising expenses	4,884	18,271
Deferred commissions	3,884	68,175
Amortization expense	125,284	127,590
Unbilled receivables	861,300	2,279,362
Deferred revenue	989,588	973,735
Component of deferred revenue	$ 211,888	497,819
Finite lived intangible asset amortization period	Customer relationships, non-compete agreements, patents and licenses are being amortized on a straight-line basis over periods of 2 to 15 years.
Impairment charges on goodwill and intangible assets
Impairment loss on long lived asset
Reduction on research and development expenses	$ 0	$ 0
Vesting period	3 years
Equipment [Member] | Minimum [Member]
Estimated useful lives of property and equipment	3 years
Equipment [Member] | Maximum [Member]
Estimated useful lives of property and equipment	5 years
Buildings [Member]
Estimated useful lives of property and equipment	30 years

Summary of Accounting Policie_4

Summary of Accounting Policies - Schedule of Components of Inventory (Details) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Accounting Policies [Abstract]
Raw materials and parts	$ 7,322,688	$ 4,379,260
Work in progress	698,756	517,354
Finished goods	1,120,829	453,900
Total Inventory	$ 9,142,273	$ 5,350,514

Summary of Accounting Policie_5

Summary of Accounting Policies - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Accounting Policies [Abstract]
Net income	$ 3,343,585	$ 5,225,199
Denominator: Basic weighted average common shares outstanding	10,733,799	10,680,007
Denominator: Options issued	561,000
Denominator: Diluted outstanding shares	11,294,799	10,680,007
Earnings (Loss) from continuing operations, Basic	$ 0.31	$ 0.49
Earnings (Loss) from continuing operations, Diluted	$ 0.30	$ 0.49

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Amortization of intangible assets	$ 44,642	$ 39,689
Goodwill	3,382,108	3,382,108
Coda Octopus Martech Ltd., Coda Octopus Colmek Inc. and Coda Octopus Products Ltd. [Member]
Goodwill	$ 3,382,108	$ 3,382,108

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Carrying Value of Identifiable Goodwill and Intangible Assets (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Total identifiable intangible assets - gross carrying value	$ 1,391,676	$ 1,301,288
Less: accumulated amortization	(1,042,332)	(1,070,505)
Total intangible assets, net	349,344	230,783
Customer Relationships [Member]
Total identifiable intangible assets - gross carrying value	$ 720,592	720,592
Weighted average lives of intangible assets	10 years
Non-Compete Agreements [Member]
Total identifiable intangible assets - gross carrying value	$ 198,911	198,911
Weighted average lives of intangible assets	3 years
Patents and Other [Member]
Total identifiable intangible assets - gross carrying value	$ 472,173	$ 381,785
Weighted average lives of intangible assets	10 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expenses (Details)	Oct. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 46,338
2022	46,317
2023	43,978
2024	33,000
2025	19,409
Thereafter	160,302
Totals	$ 349,344

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Total Goodwill	$ 3,382,108	$ 3,382,108
Coda Octopus Colmek, Inc. [Member]
Total Goodwill	2,038,669	2,038,669
Coda Octopus Products, Ltd [Member]
Total Goodwill	62,315	62,315
Coda Octopus Martech, Ltd [Member]
Total Goodwill	$ 1,281,124	$ 1,281,124

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 758,297	$ 794,086

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Property, plant and equipment, gross	$ 10,067,007	$ 9,435,124
Less: accumulated depreciation	(4,007,107)	(3,448,312)
Property and Equipment - Net	6,059,900	5,986,812
Buildings [Member]
Property, plant and equipment, gross	5,103,324	4,654,029
Land [Member]
Property, plant and equipment, gross	200,000	200,000
Office Machinery and Equipment [Member]
Property, plant and equipment, gross	2,044,405	1,954,938
Rental Assets [Member]
Property, plant and equipment, gross	1,531,351	1,468,124
Furniture, Fixtures and Improvements [Member]
Property, plant and equipment, gross	$ 1,187,927	$ 1,158,033

Other Current Assets - Summary

Other Current Assets - Summary of Other Current Assets (Details) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deposits	$ 112,984	$ 42,932
Tax receivables	131,187	255,255
Total Other Current Assets	$ 244,171	$ 298,187

Capital Stock (Details Narrativ

Capital Stock (Details Narrative) - USD ($)	Jun. 09, 2020	Sep. 16, 2019	Jun. 24, 2019	Feb. 03, 2019	Nov. 16, 2018	Oct. 31, 2020	Oct. 31, 2019
Number of shares issued, value							$ 105,446
Number of options granted						561,000
Shares available under the plan						352,612
Intrinsic value						$ 491,280	$ 0
Expense recognized						$ 441,280
Preferred stock, shares authorized						5,000,000
Preferred stock, par value						$ 0.001
Future Years [Member]
Expense recognized						$ 815,880
Series A Preferred Stock [Member]
Preferred stock, shares designated						50,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Series C Preferred Stock [Member]
Preferred stock, shares designated						50,000
Preferred stock, shares issued
Preferred stock, shares outstanding
One Investor [Member] | Private Placement [Member]
Number of shares issued					23,965
Number of shares issued, value					$ 105,446
Directors [Member]
Number of shares issued for services				7,143
Number of shares issued for services, value				$ 42,289
Consultants [Member]
Number of shares issued for services	30,000		20,000
Number of shares issued for services, value	$ 169,500		$ 291,800
Director of Foreign Subsidiaries [Member] | Stock Incentive Plan 2017 [Member]
Number of shares issued for services		25,000
Number of shares issued for services, value		$ 260,500
Employees [Member] | Stock Incentive Plan 2017 [Member]
Number of shares issued for services		5,357
Number of shares issued for services, value		$ 55,820

Capital Stock - Schedule of Sto

Capital Stock - Schedule of Stock Option Activity (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Equity [Abstract]
Number of stock options, outstanding
Number of stock options, granted	564,000
Number of shares options, vested
Number of stock options, exercises
Number of stock options, forfeited or cancelled	(3,000)
Number of stock options, outstanding	561,000
Weighted average exercise price of options, outstanding
Weighted average exercise price of options, granted	4.65
Weighted average exercise price of options, vested
Weighted average exercise price of options, exercises
Weighted average exercise price of options, forfeited or cancelled	4.65
Weighted average exercise price of options, outstanding	$ 4.65
Aggregate intrinsic value outstanding	$ 491,280	$ 0
Number of stock options, exercisable
Weighted average exercise price of options, exercisable
Aggregate intrinsic value of options exercisable
Number of nonvested stock options, outstanding
Number of nonvested stock options, granted	564,000
Number of nonvested stock options, vested
Number of nonvested stock options, exercises
Number of nonvested stock options, forfeited or cancelled	(3,000)
Number of nonvested stock options, outstanding	561,000
Weighted average exercise price of nonvested options, outstanding
Weighted average exercise price of nonvested options, granted	4.65
Weighted average exercise price of nonvested options, vested
Weighted average exercise price of nonvested options, exercises
Weighted average exercise price of nonvested options, forfeited or cancelled	4.65
Weighted average exercise price of nonvested options, outstanding	$ 4.65
Aggregate intrinsic value of nonvested options outstanding

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	12 Months Ended
	Oct. 31, 2020USD ($)
Income Tax Disclosure [Abstract]
Net operating loss	$ 1,299,969
Operating loss expiration description	Expire in 2029

Income Taxes - Schedule of Fede

Income Taxes - Schedule of Federal and Foreign Income Taxes (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Income Tax Disclosure [Abstract]
Current federal benefit	$ (12,502)	$ (75,004)
Foreign tax (benefit) expense	(38,161)	35,582
Total Current Tax Benefit	(50,663)	(39,422)
Deferred federal expense	305,125	1,046,776
Deferred foreign benefit	(196,240)
Deferred Tax Expense	(108,885)	(1,046,776)
Total Income Tax Expense	$ 58,222	$ 1,007,354

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Income Tax Benefit (Details)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Income Tax Disclosure [Abstract]
Statutory tax rate	21.00%	21.00%
Change in deferred taxes	(17.10%)	(4.20%)
Alternative Minimum Tax (refund)	(1.10%)	(1.20%)
Foreign tax expense	(1.10%)	0.50%
Total	1.70%	16.10%

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Income Tax Disclosure [Abstract]
U.S. NOL carryforwards	$ 272,993	$ 670,787
Other		(39,103)
Stock option compensation	92,669
Foreign R&D refunds	196,240
Total	$ 561,902	$ 631,684

Notes Payable (Details Narrativ

Notes Payable (Details Narrative)	12 Months Ended
	Oct. 31, 2020USD ($)
Debt Disclosure [Abstract]
Revolving line of credit facility	$ 4,000,000
Line of credit outstanding, balance	$ 0
Renewal expired date	Nov. 26, 2021

Notes Payable - Schedule of Not

Notes Payable - Schedule of Notes Payable (Details) - USD ($)	Oct. 31, 2020	Oct. 31, 2019
Total	$ 573,108	$ 1,059,574
Less: current portion	(509,769)	(487,140)
Total Long Term Notes Payable	63,339	572,434
Secured Note Payable [Member]
Total	$ 573,108
Secured Note Payable [Member]
Total		$ 1,059,574

Notes Payable - Schedule of N_2

Notes Payable - Schedule of Notes Payable (Details) (Parenthetical) - Secured Debt [Member] - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
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
Debt instrument, maturity date	Dec. 28, 2021	Dec. 28, 2021

Notes Payable - Schedule of Pri

Notes Payable - Schedule of Principal Maturities of Notes Payable (Details)	Oct. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 509,769
2022	63,339
Totals	$ 573,108

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Equity [Abstract]
Other comprehensive income (loss)	$ (185,870)	$ 93,255

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Schedule of Other Comprehensive Income (Loss) (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Equity [Abstract]
Balance, beginning of year	$ (2,135,408)	$ (2,228,663)
Total other comprehensive income for the year - foreign currency translation adjustment	(185,870)	93,255
Balance, end of period	$ (2,321,278)	$ (2,135,408)

Concentrations (Details Narrati

Concentrations (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Accounts receivable from customer	$ 2,014,660	$ 4,431,971
One Customer [Member]
Percentage of sales from customers	10.00%	10.00%
One Customer [Member] | Revenue [Member]
Percentage of sales from customers	21.00%	27.00%
Revenue from customer	$ 4,273,702	$ 6,764,199
One Customer [Member] | Accounts Receivable [Member]
Percentage of sales from customers	11.00%	20.00%
Accounts receivable from customer	$ 214,747	$ 898,584

Employee Benefit Plans (Details

Employee Benefit Plans (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Retirement Benefits [Abstract]
Employee compensation percentage	4.00%
Employee benefit costs	$ 140,271	$ 59,927

Segment Analysis (Details Narra

Segment Analysis (Details Narrative)	12 Months Ended
	Oct. 31, 2020Integer
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Analysis - Schedule of

Segment Analysis - Schedule of Segment Reporting Information (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Revenues from External Customers	$ 20,043,810	$ 25,056,934
Cost of Revenues	7,314,362	8,627,615
Gross Profit	12,729,448	16,429,319
Research & Development	3,188,389	2,801,331
Selling, General & Administrative	6,737,294	7,374,551
Total Operating Expenses	9,925,683	10,175,882
Income (Loss) from Operations	2,803,765	6,253,437
Other Income	19,374	70,212
Funding from Paycheck Protection Program	648,871
Interest (Expense)	(70,203)	(91,096)
Total Other Income (Expense)	598,042	(20,884)
Net Income (Loss) before Income Taxes	3,401,807	6,232,553
Current Tax Benefit (Expense)	(50,663)	(39,422)
Deferred Tax (Expense) Benefit	(108,885)	(1,046,776)
Total Income Tax (Expense) Benefit	(58,222)	(1,007,354)
NET INCOME	3,343,585	5,225,199
Total Assets	38,039,151	34,511,244
Total Liabilities	3,642,883	3,883,471
Revenues from Intercompany Sales - eliminated from sales above	4,051,523	4,435,698
Depreciation and Amortization	806,686	833,775
Purchases of Long-lived Assets	998,335	2,301,635
Marine Technology Business (Products) [Member]
Revenues from External Customers	11,278,181	12,908,110
Cost of Revenues	2,254,008	2,519,768
Gross Profit	9,024,173	10,388,342
Research & Development	1,955,364	2,208,749
Selling, General & Administrative	2,779,662	3,080,134
Total Operating Expenses	4,735,026	5,288,883
Income (Loss) from Operations	4,289,147	5,099,459
Other Income	19,184	70,186
Funding from Paycheck Protection Program	122,327
Interest (Expense)	(10,612)	(10,564)
Total Other Income (Expense)	130,899	59,622
Net Income (Loss) before Income Taxes	4,420,046	5,159,081
Current Tax Benefit (Expense)	63,590	(9,391)
Deferred Tax (Expense) Benefit	(196,664)	(336,101)
Total Income Tax (Expense) Benefit	(133,074)	(345,492)
NET INCOME	4,286,972	4,813,589
Total Assets	22,200,123	19,386,652
Total Liabilities	1,572,314	1,753,823
Revenues from Intercompany Sales - eliminated from sales above	997,150	1,590,548
Depreciation and Amortization	678,449	581,942
Purchases of Long-lived Assets	811,352	2,183,009
Marine Engineering Business (Services) [Member]
Revenues from External Customers	8,765,629	12,148,824
Cost of Revenues	5,060,354	6,107,847
Gross Profit	3,705,275	6,040,977
Research & Development	1,042,243	146,061
Selling, General & Administrative	2,260,849	2,492,410
Total Operating Expenses	3,303,092	2,638,471
Income (Loss) from Operations	402,183	3,402,506
Other Income	190	26
Funding from Paycheck Protection Program	526,544
Interest (Expense)	(15,672)	(14,820)
Total Other Income (Expense)	511,062	(14,794)
Net Income (Loss) before Income Taxes	913,245	3,387,712
Current Tax Benefit (Expense)		33,454
Deferred Tax (Expense) Benefit	273,666	(496,318)
Total Income Tax (Expense) Benefit	273,666	(462,864)
NET INCOME	1,186,911	2,924,848
Total Assets	14,347,827	14,165,120
Total Liabilities	1,321,011	962,641
Revenues from Intercompany Sales - eliminated from sales above	354,373	145,150
Depreciation and Amortization	105,775	236,092
Purchases of Long-lived Assets	19,660	81,446
Overhead [Member]
Revenues from External Customers
Cost of Revenues
Gross Profit
Research & Development	190,782	446,521
Selling, General & Administrative	1,696,783	1,802,007
Total Operating Expenses	1,887,565	2,248,528
Income (Loss) from Operations	(1,887,565)	(2,248,528)
Other Income
Funding from Paycheck Protection Program
Interest (Expense)	(43,919)	(65,712)
Total Other Income (Expense)	(43,919)	(65,712)
Net Income (Loss) before Income Taxes	(1,931,484)	(2,314,240)
Current Tax Benefit (Expense)	(12,927)	15,359
Deferred Tax (Expense) Benefit	(185,887)	(214,357)
Total Income Tax (Expense) Benefit	(198,814)	(198,998)
NET INCOME	(2,130,298)	(2,513,238)
Total Assets	1,491,201	959,472
Total Liabilities	749,558	1,167,007
Revenues from Intercompany Sales - eliminated from sales above	2,700,000	2,700,000
Depreciation and Amortization	22,462	15,741
Purchases of Long-lived Assets	$ 167,323	$ 37,180

Segment Analysis - Schedule o_2

Segment Analysis - Schedule of Disaggregate of Revenue from Contracts for Sale with Customers by Geographic Location (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Total net sales	$ 20,043,810	$ 25,056,934
Equipment Sales [Member]
Total net sales	7,413,640	7,134,344
Equipment Rentals [Member]
Total net sales	1,361,151	2,688,570
Software Sales [Member]
Total net sales	453,638	604,491
Engineering Parts [Member]
Total net sales	7,299,879	10,141,160
Services [Member]
Total net sales	3,515,502	4,488,369
Americas [Member]
Total net sales	8,778,534	13,544,484
Americas [Member] | Equipment Sales [Member]
Total net sales	1,368,113	802,101
Americas [Member] | Equipment Rentals [Member]
Total net sales	175,282	639,055
Americas [Member] | Software Sales [Member]
Total net sales	35,635	53,540
Americas [Member] | Engineering Parts [Member]
Total net sales	4,546,391	9,117,338
Americas [Member] | Services [Member]
Total net sales	2,653,113	2,932,450
Europe [Member]
Total net sales	4,869,413	4,886,661
Europe [Member] | Equipment Sales [Member]
Total net sales	813,066	1,771,985
Europe [Member] | Equipment Rentals [Member]
Total net sales	697,638	1,137,244
Europe [Member] | Software Sales [Member]
Total net sales	113,860	167,903
Europe [Member] | Engineering Parts [Member]
Total net sales	2,753,488	1,023,822
Europe [Member] | Services [Member]
Total net sales	491,361	785,707
Australia/Asia [Member]
Total net sales	6,255,510	6,087,071
Australia/Asia [Member] | Equipment Sales [Member]
Total net sales	5,165,905	4,259,093
Australia/Asia [Member] | Equipment Rentals [Member]
Total net sales	487,639	876,141
Australia/Asia [Member] | Software Sales [Member]
Total net sales	304,143	324,222
Australia/Asia [Member] | Services [Member]
Total net sales	297,823	627,615
Middle East & Africa [Member]
Total net sales	140,353	538,718
Middle East & Africa [Member] | Equipment Sales [Member]
Total net sales	66,556	301,165
Middle East & Africa [Member] | Equipment Rentals [Member]
Total net sales	592	36,130
Middle East & Africa [Member] | Software Sales [Member]
Total net sales		58,826
Middle East & Africa [Member] | Services [Member]
Total net sales	73,205	142,597
Marine Technology Business (Products) [Member]
Total net sales	11,278,181	12,908,110
Marine Technology Business (Products) [Member] | Equipment Sales [Member]
Total net sales	7,183,580	6,930,914
Marine Technology Business (Products) [Member] | Equipment Rentals [Member]
Total net sales	1,361,151	2,688,570
Marine Technology Business (Products) [Member] | Software Sales [Member]
Total net sales	453,638	604,491
Marine Technology Business (Products) [Member] | Engineering Parts [Member]
Total net sales
Marine Technology Business (Products) [Member] | Services [Member]
Total net sales	2,279,812	2,684,135
Marine Technology Business (Products) [Member] | Americas [Member]
Total net sales	3,001,860	2,625,072
Marine Technology Business (Products) [Member] | Americas [Member] | Equipment Sales [Member]
Total net sales	1,368,113	744,604
Marine Technology Business (Products) [Member] | Americas [Member] | Equipment Rentals [Member]
Total net sales	175,282	639,055
Marine Technology Business (Products) [Member] | Americas [Member] | Software Sales [Member]
Total net sales	35,635	53,540
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	1,422,830	1,187,873
Marine Technology Business (Products) [Member] | Europe [Member]
Total net sales	1,880,458	3,657,249
Marine Technology Business (Products) [Member] | Europe [Member] | Equipment Sales [Member]
Total net sales	583,006	1,626,052
Marine Technology Business (Products) [Member] | Europe [Member] | Equipment Rentals [Member]
Total net sales	697,638	1,137,244
Marine Technology Business (Products) [Member] | Europe [Member] | Software Sales [Member]
Total net sales	113,860	167,903
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	485,954	726,050
Marine Technology Business (Products) [Member] | Australia/Asia [Member]
Total net sales	6,255,510	6,087,071
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Equipment Sales [Member]
Total net sales	5,165,905	4,259,093
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Equipment Rentals [Member]
Total net sales	487,639	876,141
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Software Sales [Member]
Total net sales	304,143	324,222
Marine Technology Business (Products) [Member] | Australia/Asia [Member] | Services [Member]
Total net sales	297,823	627,615
Marine Technology Business (Products) [Member] | Middle East & Africa [Member]
Total net sales	140,353	538,718
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Equipment Sales [Member]
Total net sales	66,556	301,165
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Equipment Rentals [Member]
Total net sales	592	36,130
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Software Sales [Member]
Total net sales		58,826
Marine Technology Business (Products) [Member] | Middle East & Africa [Member] | Services [Member]
Total net sales	73,205	142,597
Marine Engineering Business (Services) [Member]
Total net sales	8,765,629	12,148,824
Marine Engineering Business (Services) [Member] | Equipment Sales [Member]
Total net sales	230,060	203,430
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	7,299,879	10,141,160
Marine Engineering Business (Services) [Member] | Services [Member]
Total net sales	1,235,690	1,804,234
Marine Engineering Business (Services) [Member] | Americas [Member]
Total net sales	5,776,674	10,919,412
Marine Engineering Business (Services) [Member] | Americas [Member] | Equipment Sales [Member]
Total net sales		57,497
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	4,546,391	9,117,338
Marine Engineering Business (Services) [Member] | Americas [Member] | Services [Member]
Total net sales	1,230,283	1,744,577
Marine Engineering Business (Services) [Member] | Europe [Member]
Total net sales	2,988,955	1,229,412
Marine Engineering Business (Services) [Member] | Europe [Member] | Equipment Sales [Member]
Total net sales	230,060	145,933
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	2,753,488	1,023,822
Marine Engineering Business (Services) [Member] | Europe [Member] | Services [Member]
Total net sales	5,407	59,657
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

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - Employment Agreements [Member] - USD ($)	Jul. 01, 2019	Oct. 31, 2020
Annmarie Gayle [Member]
Annual base salary	$ 230,000	$ 305,000
Annual performance bonus		100,000
Annual salary, separation bonus		150,000
Blair Cunningham [Member]
Annual base salary		200,000
Michael Midgley [Member]
Annual base salary		$ 210,000

Payroll Protection Program (Det

Payroll Protection Program (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Other income	$ 19,374	$ 70,212
Payroll Protection Program [Member]
Other income	$ 648,871

Related Party Transaction (Deta

Related Party Transaction (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Proceeds from sale of property		$ 719,077
Orlando Property [Member] | Blair Cunningham [Member]
Proceeds from sale of property		$ 705,000