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Segment Analysis (Tables) | 12 Months Ended
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Oct. 31, 2017
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The Company evaluates performance and allocates resources based upon 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 removed upon consolidation and for the purposes of the information shown below.
|  | Marine Technology Business (Products) |  |  | Marine Engineering Business (Services) |  |  | Overhead |  |  | Total |
Year Ended October 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from External Customers |  | $ | 10,986,268 |  |  | $ | 7,038,905 |  |  | $ | - |  |  | $ | 18,025,173 |
Cost of Revenues |  |  | 2,246,881 |  |  |  | 3,810,567 |  |  |  | - |  |  |  | 6,057,448 |
Gross Profit |  |  | 8,739,387 |  |  |  | 3,228,338 |  |  |  | - |  |  |  | 11,967,725 |
Research & Development |  |  | 919,863 |  |  |  | 460,518 |  |  |  | - |  |  |  | 1,380,381 |
Selling, General & Administrative |  |  | 3,220,635 |  |  |  | 2,714,054 |  |  |  | 834,638 |  |  |  | 6,769,327 |
Total Operating Expenses |  |  | 4,140,498 |  |  |  | 3,174,572 |  |  |  | 834,638 |  |  |  | 8,149,708 |
Operating Income (Loss) |  |  | 4,598,889 |  |  |  | 53,766 |  |  |  | (834,638 | ) |  |  | 3,818,017 |
Other Income (Expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Income |  |  | 117,106 |  |  |  | 4,172 |  |  |  | - |  |  |  | 121,278 |
Interest (Expense) Income |  |  | (709,763 | ) |  |  | (56,697 | ) |  |  | 169,449 |  |  |  | (597,011 | )
Total other income (expense) |  |  | (592,657 | ) |  |  | (52,525 | ) |  |  | 169,449 |  |  |  | (475,733 | )
Income (Loss) before income taxes |  |  | 4,006,232 |  |  |  | 1,241 |  |  |  | (665,189 | ) |  |  | 3,342,284 |
Income tax benefit (expense) |  |  | 22,578 |  |  |  | - |  |  |  | (25,199 | ) |  |  | (2,621 | )
Net Income (Loss) |  | $ | 4,028,810 |  |  | $ | 1,241 |  |  | $ | (690,388 | ) |  | $ | 3,339,663 |
Supplemental Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Assets |  | $ | 12,374,214 |  |  | $ | 11,479,953 |  |  | $ | 205,906 |  |  | $ | 24,060,073 |
Total Liabilities |  |  | 1,109,003 |  |  |  | 1,475,442 |  |  |  | 7,648,208 |  |  |  | 10,232,653 |
Revenues from Intercompany Sales - eliminated from sales above |  |  | 1,895,015 |  |  |  | 387,142 |  |  |  | 1,797,775 |  |  |  | 4,079,932 |
Depreciation and Amortization |  |  | 528,667 |  |  |  | 412,220 |  |  |  | 12,739 |  |  |  | 953,626 |
Purchases of Long-lived Assets |  |  | 2,419,093 |  |  |  | 129,989 |  |  |  | 12,470 |  |  |  | 2,561,552 |
|  | Marine Technology Business (Products) |  |  | Marine Engineering Business (Services) |  |  | Overhead |  |  | Total |
Year Ended October 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from External Customers |  | $ | 10,584,141 |  |  | $ | 10,534,178 |  |  | $ | - |  |  | $ | 21,118,319 |
Cost of Revenues |  |  | 3,081,892 |  |  |  | 5,383,430 |  |  |  | - |  |  |  | 8,465,322 |
Gross Profit |  |  | 7,502,249 |  |  |  | 5,150,748 |  |  |  | - |  |  |  | 12,652,997 |
Research & Development |  |  | 1,013,125 |  |  |  | - |  |  |  | - |  |  |  | 1,013,125 |
Selling, General & Administrative |  |  | 2,848,809 |  |  |  | 2,785,195 |  |  |  | 467,223 |  |  |  | 6,101,227 |
Total Operating Expenses |  |  | 3,861,934 |  |  |  | 2,785,195 |  |  |  | 467,223 |  |  |  | 7,114,352 |
Operating Income (Loss) |  |  | 3,640,315 |  |  |  | 2,365,553 |  |  |  | (467,223 | ) |  |  | 5,538,645 |
Other Income (Expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Income |  |  | 166,449 |  |  |  | 5,641 |  |  |  | - |  |  |  | 172,090 |
Interest Expense |  |  | (813,402 | ) |  |  | (277,875 | ) |  |  | 234,845 |  |  |  | (856,432 | )
Total other income (expense) |  |  | (646,953 | ) |  |  | (272,234 | ) |  |  | 234,845 |  |  |  | (684,342 | )
Income (Loss) before income taxes |  |  | 2,993,362 |  |  |  | 2,093,319 |  |  |  | (232,378 | ) |  |  | 4,854,303 |
Income tax benefit (expense) |  |  | 139,619 |  |  |  | (39,783 | ) |  |  | (23,591 | ) |  |  | 76,245 |
Net Income (Loss) |  | $ | 3,132,981 |  |  | $ | 2,053,536 |  |  | $ | (255,969 | ) |  | $ | 4,930,548 |
Supplemental Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Assets |  | $ | 11,649,606 |  |  | $ | 10,883,182 |  |  | $ | 302,732 |  |  | $ | 22,835,520 |
Total Liabilities |  |  | 1,381,048 |  |  |  | 1,019,074 |  |  |  | 10,280,885 |  |  |  | 12,681,007 |
Revenues from Intercompany Sales - eliminated from sales above |  |  | 1,871,801 |  |  |  | 330,098 |  |  |  | 1,164,250 |  |  |  | 3,366,149 |
Depreciation and Amortization |  |  | 503,327 |  |  |  | 293,219 |  |  |  | 12,831 |  |  |  | 809,377 |
Purchases of Long-lived Assets |  |  | 604,607 |  |  |  | (2,857 | ) |  |  | 12,470 |  |  |  | 614,220 |
Information concerning principal geographic areas is presented below according to the area where the activity has taken place for the years ended October 31, 2017 and 2016, respectively:
|  | USA |  |  | Europe |  |  | Australia |  |  | Total |
External Revenues by Geographic Locations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year Ended October 31, 2017 |  | $ | 7,499,900 |  |  | $ | 9,056,589 |  |  | $ | 1,468,684 |  |  | $ | 18,025,173 |
Year Ended October 31, 2016 |  | $ | 11,116,336 |  |  | $ | 8,398,768 |  |  | $ | 1,603,215 |  |  | $ | 21,118,319 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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