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COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS | 6 Months Ended
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Apr. 30, 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 six months ended April 30, 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 at 0.25% discount to the Bank of England base rate, which at April 30,2025 had a rate of 4.25%. The table below indicates the interest income received and amounts which are held in certified deposit and unrestricted interest-bearing accounts as of April 30, 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 |
|  | Deposit |  |  | Interest income |  |  | Deposit |  |  | Interest income |
|  | April 30, 2025 |  |  | April 30, 2025 |  |  | April 30, 2024 |  |  | April 30, 2024 |
USA |  | $ | 15,395,657 |  |  | $ | 289,768 |  |  | $ | 17,614,335 |  |  | $ | 414,062 |
UK |  |  | 2,227,269 |  |  |  | 36,864 |  |  |  | 1,798,616 |  |  |  | 60,160 |
Denmark |  |  | - |  |  |  | 13,133 |  |  |  | - |  |  |  | 11,786 |
|  | $ | 17,622,926 |  |  | $ | 339,765 |  |  | $ | 19,412,951 |  |  | $ | 486,008 |
Inventory consisted of the following as of: SCHEDULE OF COMPONENTS OF INVENTORY
|  | April 30, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
Raw materials and other sub-components |  | $ | 10,169,740 |  |  | $ | 10,368,350 |
Work in progress |  |  | 593,994 |  |  |  | 193,062 |
Finished goods |  |  | 2,764,010 |  |  |  | 3,340,464 |
Stock in transit |  |  | - |  |  |  | 73,653 |
Total Inventory |  | $ | 13,527,744 |  |  | $ | 13,975,529 |
Other current assets consisted of the following as of: SCHEDULE OF OTHER CURRENT ASSETS
|  | April 30, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
Deposits |  | $ | 12,879 |  |  | $ | 63,630 |
Other Tax Receivables |  |  | 28,972 |  |  |  | 240,909 |
Employee Retention Credit Receivables |  |  | 212,300 |  |  |  | 212,300 |
Other Receivables |  |  | 139,122 |  |  |  | 321,996 |
Total Other Current Assets |  | $ | 393,273 |  |  | $ | 838,835 |
Fixed Assets consisted of the following as of: SCHEDULE OF FIXED ASSETS
|  | April 30, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
Buildings |  | $ | 6,038,580 |  |  | $ | 5,881,237 |
Land |  |  | 200,000 |  |  |  | 200,000 |
Office machinery and equipment |  |  | 2,046,903 |  |  |  | 1,872,693 |
Rental assets |  |  | 2,932,125 |  |  |  | 2,784,921 |
Furniture, fixtures and improvements |  |  | 1,597,752 |  |  |  | 1,549,965 |
Totals |  |  | 12,815,360 |  |  |  | 12,288,816 |
Less: accumulated depreciation |  |  | (6,013,774 | ) |  |  | (5,465,826 | )
Total Property and Equipment, net |  |  | 6,801,586 |  |  |  | 6,822,990 |
Right of use assets, net |  |  | 403,228 |  |  |  | 413,171 |
Total Fixed Assets, net |  | $ | 7,204,814 |  |  | $ | 7,236,161 |
Depreciation expense for the three months ended April 30, 2025, and 2024 was $219,092 and $177,490, respectively, and for the six months ended April 30, 2025, and 2024 was $424,738 and $350,782, respectively. CODA OCTOPUS GROUP, INC. Notes to the Unaudited Consolidated Financial Statements April 30, 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
|  | April 30, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
USA |  | $ | 1,706,503 |  |  | $ | 1,743,840 |
Europe |  |  | 5,095,083 |  |  |  | 5,079,150 |
Total Property and Equipment, net |  | $ | 6,801,586 |  |  | $ | 6,822,990 |
Accrued Expenses and Other Current Liabilities consisted of the following as of: SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
|  | April 30, |  |  | October 31, |
|  | 2025 |  |  | 2024 |
Accruals |  | $ | 349,329 |  |  | $ | 560,986 |
Other Tax Payables |  |  | 992,351 |  |  |  | 924,735 |
Employee Related |  |  | 108,893 |  |  |  | 118,875 |
Total Accrued Expenses and Other Current Liabilities |  | $ | 1,450,573 |  |  | $ | 1,604,596 |
Total Other Income, consisted of the following: SCHEDULE OF OTHER INCOME
|  | Three Months |  |  | Three Months |  |  | Six Months |  |  | Six Months |
|  | Ended |  |  | Ended |  |  | Ended |  |  | Ended |
|  | April 30, |  |  | April 30, |  |  | April 30, |  |  | April 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Grant Income |  | $ | 27,365 |  |  | $ | 11,980 |  |  | $ | 100,186 |  |  | $ | 26,694 |
Other |  |  | 4,967 |  |  |  | (14,616 | ) |  |  | 10,813 |  |  |  | 5,690 |
Total Other Income |  | $ | 32,332 |  |  | $ | (2,636 | ) |  | $ | 110,999 |  |  | $ | 32,384 |
Interest Received |  |  | 145,594 |  |  |  | 293,468 |  |  |  | 339,765 |  |  |  | 486,008 |
Total Other Income, net |  | $ | 177,926 |  |  | $ | 290,832 |  |  | $ | 450,764 |  |  | $ | 518,392 |

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