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ACQUISITION OF PRECISION ACOUSTICS LIMITED (Tables)

12 Months Ended

Oct. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

SCHEDULE OF POTENTIAL EARNOUT PROVISION AMOUNTS

SCHEDULE OF POTENTIAL EARNOUT PROVISION AMOUNTS

Earn Out		2025 FY				2026 FY				2027 FY
Revenue Target		$	5,334,584			$	5,867,914			$	6,454,962
Pre-Tax Profit Target		$	1,046,476			$	1,295,597			$	1,573,133
Earn Out Amount Payable based on Targets		$	208,472			$	418,223			$	652,275

SCHEDULE OF PROFORMA INFORMATION

 SCHEDULE OF PROFORMA INFORMATION

		October 31,				October 31,
		2024				2023
Net Revenue
Coda Octopus Group		$	20,316,161			$	19,352,088
Precision Acoustics			4,942,389				3,777,057
Combined Net Revenue			25,258,550				23,129,145
Net Revenue			25,258,550				23,129,145
Net Income
Amortization of acquired intangible assets, pro forma		$	(477,181)			$	(477,181)
Coda Octopus Group			3,645,996				3,124,149
Precision Acoustics			483,776				113,793
Combined Net Income		$	3,652,591			$	2,760,761
Net Income		$	3,652,591			$	2,760,761

SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED IN ACQUISITION

The table below shows the fair value of the assets acquired and liabilities assumed in connection with the PAL acquisition.

 SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED IN ACQUISITION

Description		Amount
Tangible assets and liabilities acquired
Cash (including excess cash amount purchased of $1,337,415)		$	1,933,284
Accounts receivable			698,595
Inventory			980,594
Property, plant and equipment			509,337
Right of Use Asset (Lease)			417,881
Accounts payable			(362,305	)
Lease liability			(417,881	)
Deferred revenues			(498,422	)
Accruals and other liabilities			(151,532	)
Intangible assets and liabilities at fair value
Fair value of noncompete agreement			224,637
Value of technology			2,947,155
Expected value of earn out provision			-
Goodwill			257,226
Total purchase price		$	6,538,569
Acquisition, net of acquired cash		$	4,605,285

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

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-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
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Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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