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DEBT (Tables) | 9 Months Ended
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Jul. 31, 2022
DEBT [Abstract] |
Long-term Debt | The tables below provide information on our long-term debt.
As of July 31, 2022 |  | Xiamen Project Loans |  |  | Xiamen Working Capital Loans |  |  | Hefei Equipment Loan |  |  | Finance Leases |  |  | Total |
Principal due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Next 12 months |  | $ | - |  |  | $ | 3,798 |  |  | $ | - |  |  | $ | 6,929 |  |  | $ | 10,727 |
Months 13 – 24 |  | $ | 3,812 |  |  | $ | - |  |  | $ | - |  |  | $ | 6,585 |  |  | $ | 10,397 |
Months 25 – 36 |  |  | 9,390 |  |  |  | - |  |  |  | - |  |  |  | 19,622 |  |  |  | 29,012 |
Months 37 – 48 |  |  | 7,180 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7,180 |
Long-term debt |  | $ | 20,382 |  |  | $ | - |  |  | $ | - |  |  | $ | 26,207 |  |  | $ | 46,589 |
Total debt |  | $ | 20,382 |  |  | $ | 3,798 |  |  | $ | - |  |  | $ | 33,136 |  |  | $ | 57,316 |
Interest rate at balance sheet date |  |  | 4.60 | % |  |  | 4.46 | % |  |  | N/A |  |  |  |  | (3) |  |  |  |
Basis spread on interest rates |  |  | 0.00 |  |  |  | 76.00 |  |  |  | N/A |  |  |  | N/A |  |  |  |  |
Interest rate reset |  | Quarterly |  |  | Monthly/Annually |  |  | N/A |  |  |  | N/A |  |  |  |  |
Maturity date |  | December 2025 |  |  | July 2023 |  |  | Paid July 2022 |  |  |  |  | (3) |  |  |  |
Periodic payment amount |  | Varies as loans mature(1)(2) |  |  | Increases as loans mature |  |  | N/A |  |  |  |  | (3) |  |  |  |
Periodic payment frequency |  | Semiannual, on individual loans |  |  | Semiannual, on individual loans |  |  | N/A |  |  | Monthly |  |  |  |  |
Loan collateral (carrying amount) |  | $ | 79,200 |  |  |  | N/A |  |  |  | N/A |  |  | $ | 38,694 | (4) |  |  |  |
(1) During the three-month period ended July 31, 2022, we repaid 26.0 million RMB (approximately $3.9 million) that was due to be paid in December 2023, and 3.0 million RMB (approximately $0.4 million) that was due to be paid in June 2024. (2) In September 2022, we repaid the entire $3.8 million shown in the table above as due to be paid in months 13-24, and we repaid approximately $2.3 million of the amount shown in the table above as due to be paid in months 25-36. (3) See Note 7 for periodic payment amounts. (4) Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.
As of October 31, 2021 |  | Xiamen Project Loans |  |  | Xiamen Working Capital Loans |  |  | Hefei Equipment Loan |  |  | Finance Leases |  |  | Total |
Principal due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Next 12 months |  | $ | 2,068 |  |  | $ | 8,197 |  |  | $ | 4,694 |  |  | $ | 7,289 |  |  | $ | 22,248 |
Months 13 – 24 |  | $ | 10,071 |  |  | $ | 4,005 |  |  | $ | 4,693 |  |  | $ | 6,512 |  |  | $ | 25,281 |
Months 25 – 36 |  |  | 10,278 |  |  |  | - |  |  |  | 6,257 |  |  |  | 6,610 |  |  |  | 23,145 |
Months 37 – 48 |  |  | 9,902 |  |  |  | - |  |  |  | 5,585 |  |  |  | 17,961 |  |  |  | 33,448 |
Months 49 – 60 |  |  | 7,572 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7,572 |
Long-term debt |  | $ | 37,823 |  |  | $ | 4,005 |  |  | $ | 16,535 |  |  | $ | 31,083 |  |  | $ | 89,446 |
Total |  | $ | 39,891 |  |  | $ | 12,202 |  |  | $ | 21,229 |  |  | $ | 38,372 |  |  | $ | 111,694 |
Interest rate at balance sheet date |  |  | 4.65 | % |  |  | 4.53% - 4.61 | % |  |  | 4.20 | % |  |  |  | (2) |  |  |  |
Basis spread on interest rates |  |  | 0.00 |  |  |  | 67.75 - 76.00 |  |  |  | (45.00 | ) |  |  | N/A |  |  |  |  |
Interest rate reset |  |  | Quarterly |  |  |  | Monthly/Annually |  |  |  | Annually |  |  |  | N/A |  |  |  |  |
Maturity date |  | December 2025 |  |  | July 2023 |  |  | September 2025 |  |  |  |  | (2) |  |  |  |
Periodic payment amount |  | Varies as loans mature |  |  | Increases as loans mature |  |  | Varies(1) |  |  |  |  | (2) |  |  |  |
Periodic payment frequency |  | Semiannual, on individual loans |  |  | Semiannual, on individual loans |  |  | Semiannual(1) |  |  | Monthly |  |  |  |  |
Loan collateral (carrying amount) |  | $ | 90,096 |  |  |  | N/A |  |  | $ | 86,487 |  |  | $ | 40,826 | (3) |  |  |  |
(1) First five semiannual loan repayments were each to be for 7.5 percent of the approved 200 million RMB loan principal; last five installments were each to be for 12.5 percent of the approved loan principal. We repaid our entire outstanding balance on this loan in July 2022, and did not extend our credit agreement with the lender. The collateral associated with this loan has been released. (2) See Note 7 for interest rates on lease liabilities, maturity dates, and periodic payment amounts. (3) Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

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