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Segment Analysis (Tables) | 12 Months Ended
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Oct. 31, 2018
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Information concerning principal geographic areas is presented below according to the area where the activity has taken place for the years ended October 31, 2018 and 2017 respectively:
|  | Marine Technology Business (Products) |  |  | Marine Engineering Business (Services) |  |  | Overhead |  |  | Total |
Year Ended October 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from External Customers |  | $ | 11,449,416 |  |  | $ | 6,570,013 |  |  | $ | - |  |  | $ | 18,019,429 |
Cost of Revenues |  |  | 1,894,808 |  |  |  | 3,462,259 |  |  |  | - |  |  |  | 5,357,067 |
Gross Profit |  |  | 9,554,608 |  |  |  | 3,107,754 |  |  |  | - |  |  |  | 12,662,362 |
Research & Development |  |  | 2,048,285 |  |  |  | 523,429 |  |  |  | - |  |  |  | 2,571,714 |
Selling, General & Administrative |  |  | 2,882,049 |  |  |  | 2,366,226 |  |  |  | 1,531,606 |  |  |  | 6,779,881 |
Total Operating Expenses |  |  | 4,930,334 |  |  |  | 2,889,655 |  |  |  | 1,531,606 |  |  |  | 9,351,595 |
Income (Loss) from Operations |  |  | 4,624,274 |  |  |  | 218,099 |  |  |  | (1,531,606 | ) |  |  | 3,310,767 |
Other Income (Expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Income |  |  | 39,122 |  |  |  | 2,100 |  |  |  | - |  |  |  | 41,222 |
Interest (Expense) Income |  |  | (12,154 | ) |  |  | (59,599 | ) |  |  | (177,337 | ) |  |  | (249,090 | )
Total Other Income (Expense) |  |  | 26,968 |  |  |  | (57,499 | ) |  |  | (177,337 | ) |  |  | (207,868 | )
Net Income (Loss) before income taxes |  |  | 4,651,242 |  |  |  | 160,600 |  |  |  | (1,708,943 | ) |  |  | 3,102,899 |
Current income benefit (expense) |  |  | 133,419 |  |  |  | - |  |  |  | (1,956 | ) |  |  | (131,463 | )
Deferred tax benefit |  |  | - |  |  |  | - |  |  |  | 1,754,169 |  |  |  | 1,754,169 |
Income benefit (expense) |  |  | 133,419 |  |  |  | - |  |  |  | 1,752,213 |  |  |  | 1,885,632 |
Net Income (Loss) |  | $ | 4,784,661 |  |  | $ | 160,600 |  |  | $ | 43,270 |  |  | $ | 4,988,531 |
Supplemental Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Assets |  | $ | 15,061,693 |  |  | $ | 11,674,640 |  |  | $ | 2,000,278 |  |  | $ | 28,736,611 |
Total Liabilities |  | $ | 1,142,661 |  |  | $ | 1,498,828 |  |  | $ | 1,708,172 |  |  | $ | 4,349,661 |
Revenues from Intercompany Sales - eliminated from sales above |  | $ | 1,176,438 |  |  | $ | 437,387 |  |  | $ | 3,100,000 |  |  | $ | 4,713,825 |
Depreciation and Amortization |  | $ | 461,429 |  |  | $ | 282,836 |  |  | $ | 14,143 |  |  | $ | 758,408 |
Purchases of Long-lived Assets |  | $ | 499,262 |  |  | $ | 61,329 |  |  | $ | 76,561 |  |  | $ | 637,152 |
|  | 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 |
Income (Loss) from Operations |  |  | 4,598,889 |  |  |  | 53,766 |  |  |  | (834,638 | ) |  |  | 3,818,017 |
Other Income (Expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Income |  |  | 117,106 |  |  |  | 4,172 |  |  |  | - |  |  |  | 121,278 |
Interest Expense |  |  | (709,763 | ) |  |  | (56,697 | ) |  |  | 169,449 |  |  |  | (597,011 | )
Total Other Income (Expense) |  |  | (592,657 | ) |  |  | (52,525 | ) |  |  | 169,449 |  |  |  | (475,733 | )
Net Income (Loss) before income taxes |  |  | 4,006,233 |  |  |  | 1,241 |  |  |  | (665,189 | ) |  |  | 3,342,284 |
Income refund (expense) |  |  | 22,578 |  |  |  | - |  |  |  | (25,199 | ) |  |  | (2,621 | )
Net Income |  | $ | 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 |  | $ | 2,419,092 |  |  | $ | 129,989 |  |  | $ | 12,470 |  |  | $ | 2,561,551 |
|  | USA |  |  | Europe |  |  | Australia |  |  | Total |
External Revenues by Geographic Locations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year Ended October 31, 2018 |  | $ | 7,617,891 |  |  | $ | 10,029,806 |  |  | $ | 371,732 |  |  | $ | 18,019,429 |
Year Ended October 31, 2017 |  | $ | 7,499,900 |  |  | $ | 9,056,589 |  |  | $ | 1,468,684 |  |  | $ | 18,025,173 |

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