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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.

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