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COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS | 3 Months Ended
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Jan. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS | NOTE 7 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS Certified Deposit Interest Bearing Accounts for the three months ended January 31, 2025 and 2024. The Company has certified deposit interest-bearing accounts with its current bankers HSBC NA. These interest-bearing accounts are for rolling fixed short-term periods not exceeding 3 months and are classified in our financial statements as “cash equivalent”. In addition, we have an interest-bearing deposit account with HSBC UK which has no access restrictions and tracks the Bank of England base rate, which has a current rate of 4.75%. The table below indicates the applicable interest rates and amounts which are held in certified deposit and unrestricted interest-bearing accounts as of January 31, 2025 and 2024, and interest earned in the respective periods: SCHEDULE OF INTEREST RATES AND AMOUNT HELD IN CERTIFIED DEPOSIT AND INTEREST BEARING ACCOUNTS
|  | 2025 |  |  | 2024 |
|  | Amount |  |  | Interest |  |  | Amount |  |  | Interest |
Country |  | January 31, 2025 |  |  | January 31, 2025 |  |  | January 31, 2024 |  |  | January 31, 2024 |
USA |  | $ | 15,315,906 |  |  | $ | 144,901 |  |  | $ | 17,405,227 |  |  | $ | 148,204 |
UK |  |  | 1,387,369 |  |  |  | 40,309 |  |  |  | 1,889,567 |  |  |  | 32,550 |
Denmark |  |  | - |  |  |  | 8,961 |  |  |  | - |  |  |  | 11,786 |
|  | $ | 16,703,275 |  |  | $ | 194,171 |  |  | $ | 19,294,794 |  |  | $ | 192,540 |
Inventory consisted of the following as of: SCHEDULE OF COMPONENTS OF INVENTORY
|  | January 31, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
Raw materials and parts |  | $ | 10,057,541 |  |  | $ | 10,368,350 |
Work in progress |  |  | 275,542 |  |  |  | 193,062 |
Finished goods |  |  | 3,100,478 |  |  |  | 3,340,464 |
Stock in transit |  |  | - |  |  |  | 73,653 |
Total Inventory |  | $ | 13,433,561 |  |  | $ | 13,975,529 |
Other current assets consisted of the following as of: SUMMARY OF OTHER CURRENT ASSETS
|  | January 31, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
Deposits |  | $ | 12,825 |  |  | $ | 63,630 |
Other Tax Receivables |  |  | 32,139 |  |  |  | 240,909 |
Employee Retention Credit Receivables |  |  | 212,300 |  |  |  | 212,300 |
Other Receivables |  |  | 143,591 |  |  |  | 321,996 |
Total Other Current Assets |  | $ | 400,855 |  |  | $ | 838,835 |
Fixed Assets consisted of the following as of: SCHEDULE OF FIXED ASSETS
|  | January 31, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
Buildings |  | $ | 5,747,116 |  |  | $ | 5,881,237 |
Land |  |  | 200,000 |  |  |  | 200,000 |
Office machinery and equipment |  |  | 1,956,733 |  |  |  | 1,872,693 |
Rental assets |  |  | 2,730,276 |  |  |  | 2,784,921 |
Furniture, fixtures and improvements |  |  | 1,514,240 |  |  |  | 1,549,965 |
Totals |  |  | 12,148,365 |  |  |  | 12,288,816 |
Less: accumulated depreciation |  |  | (5,565,207 | ) |  |  | (5,465,826 | )
Total Property and Equipment, net |  |  | 6,583,158 |  |  |  | 6,822,990 |
Right of use assets, net |  |  | 388,060 |  |  |  | 413,171 |
Total Fixed Assets, net |  | $ | 6,971,218 |  |  | $ | 7,236,161 |
Depreciation expense for the three months ended January 31, 2025, and 2024 was $205,646 and $173,292 respectively. CODA OCTOPUS GROUP, INC. Notes to the Consolidated Financial Statements January 31, 2025 and October 31, 2024 NOTE 7 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS (Continued) Property and equipment, net, by geographic areas were as follows: SCHEDULE OF PROPERTY AND EQUIPMENT, NET, BY GEOGRAPHIC AREAS
|  | January 31, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
USA |  | $ | 1,711,932 |  |  | $ | 1,743,840 |
Europe |  |  | 4,871,226 |  |  |  | 5,079,150 |
Total Property and Equipment, net |  | $ | 6,583,158 |  |  | $ | 6,822,990 |
Accrued Expenses and Other Current Liabilities consisted of the following as of: SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
|  | January 31, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
Accruals |  | $ | 348,450 |  |  | $ | 560,986 |
Other Tax Payables |  |  | 732,159 |  |  |  | 924,735 |
Employee Related |  |  | 145,812 |  |  |  | 118,875 |
Total Accrued Expenses and Other Current Liabilities |  | $ | 1,226,421 |  |  | $ | 1,604,596 |
Total Other Income, net consisted of the following: SCHEDULE OF OTHER INCOME
|  | Three Months |  |  | Three Months |
|  | Ended |  |  | Ended |
|  | January 31, |  |  | January 31, |
|  | 2025 |  |  | 2024 |
Grant Income |  | $ | 72,821 |  |  | $ | 14,714 |
Other |  |  | 5,846 |  |  |  | 20,306 |
Total Other Income |  | $ | 78,667 |  |  | $ | 35,020 |
Interest Received |  | $ | 194,171 |  |  | $ | 192,540 |
Total Other Income, net |  | $ | 272,838 |  |  | $ | 227,560 |

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