XML 54 R33.htm IDEA: XBRL DOCUMENT
v3.22.0.1

SEGMENT ANALYSIS (Tables) | 12 Months Ended
--- | ---
Oct. 31, 2021
Segment Reporting [Abstract] |
SCHEDULE OF SEGMENT REPORTING INFORMATION | SCHEDULE OF SEGMENT REPORTING INFORMATION
|  | Marine Technology Business (Products) |  |  | Marine Engineering Business (Services) |  |  | Overhead |  |  | Total |
Year Ended October 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from External Customers |  | $ | 15,804,222 |  |  | $ | 5,527,305 |  |  | $ | - |  |  | $ | 21,331,527 |
Cost of Revenues |  |  | 3,169,835 |  |  |  | 3,391,974 |  |  |  | - |  |  |  | 6,561,809 |
Gross Profit |  |  | 12,634,387 |  |  |  | 2,135,331 |  |  |  | - |  |  |  | 14,769,718 |
Research & Development |  |  | 2,509,107 |  |  |  | 473,569 |  |  |  | - |  |  |  | 2,982,676 |
Selling, General & Administrative |  |  | 3,220,883 |  |  |  | 2,284,997 |  |  |  | 2,409,695 |  |  |  | 7,915,575 |
Total Operating Expenses |  |  | 5,729,990 |  |  |  | 2,758,566 |  |  |  | 2,409,695 |  |  |  | 10,898,251 |
Income (Loss) from Operations |  |  | 6,904,397 |  |  |  | (623,235 | ) |  |  | (2,409,695 | ) |  |  | 3,871,467 |
Other Income (Expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Income |  |  | 354,373 |  |  |  | 1,079,374 |  |  |  | 1,635 |  |  |  | 1,435,382 |
Interest Expense |  |  | (12,588 | ) |  |  | (19,668 | ) |  |  | (21,349 | ) |  |  | (53,605 | )
Total Other Income (Expense) |  |  | 341,785 |  |  |  | 1,059,706 |  |  |  | (19,714 | ) |  |  | 1,381,777 |
Income (Loss) before Income Taxes |  |  | 7,246,182 |  |  |  | 436,471 |  |  |  | (2,429,409 | ) |  |  | 5,253,244 |
Income Tax (Expense) Benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Tax Benefit (Expense) |  |  | 35,032 |  |  |  | (51,624 | ) |  |  | - |  |  |  | (16,592 | )
Deferred Tax (Expense) Benefit |  |  | (418,338 | ) |  |  | 409,205 |  |  |  | (279,754 | ) |  |  | (288,887 | )
Total Income Tax (Expense) Benefit |  |  | (383,306 | ) |  |  | 357,581 |  |  |  | (279,754 | ) |  |  | (305,479 | )
Net Income (Loss) |  | $ | 6,862,876 |  |  | $ | 794,052 |  |  | $ | (2,709,163 | ) |  | $ | 4,947,765 |
Supplemental Disclosures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Assets |  | $ | 30,631,442 |  |  | $ | 14,117,747 |  |  | $ | 716,230 |  |  | $ | 45,465,419 |
Total Liabilities |  | $ | 3,166,999 |  |  | $ | 849,306 |  |  | $ | 400,041 |  |  | $ | 4,416,346 |
Revenues from Intercompany Sales - eliminated from sales above |  | $ | 2,075,387 |  |  | $ | 355,608 |  |  | $ | 3,470,000 |  |  | $ | 5,900,995 |
Depreciation and Amortization |  | $ | 780,434 |  |  | $ | 114,022 |  |  | $ | 29,617 |  |  | $ | 924,073 |
Purchases of Long-lived Assets |  | $ | 793,995 |  |  | $ | 51,907 |  |  | $ | 118,302 |  |  | $ | 964,204 |
CODA OCTOPUS GROUP, INC. Notes to the Consolidated Financial Statements October 31, 2021 and 2020 NOTE 12 -SEGMENT ANALYSIS (Continued)
|  | 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 |  |  | 141,511 |  |  |  | 526,734 |  |  |  | - |  |  |  | 668,245 |
Interest (Expense) |  |  | (10,612 | ) |  |  | (15,672 | ) |  |  | (43,919 | ) |  |  | (70,203 | )
Total Other Income (Expense) |  |  | 130,899 |  |  |  | 511,062 |  |  |  | (43,919 | ) |  |  | 598,042 |
Income (Loss) before Income Taxes |  |  | 4,420,046 |  |  |  | 913,245 |  |  |  | (1,931,484 | ) |  |  | 3,401,807 |
Income Tax (Expense) Benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 |

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration