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COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS
 9 Months Ended
Jul. 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 nine months ended July 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 at 0.25% discount to the Bank of England base rate, which at July 31,2025 had a rate of 4.00%. The table below indicates the interest income received and amounts which are held in certified deposit and unrestricted interest-bearing accounts as of July 31, 2025 and 2024, and interest earned in the respective periods :

 

   2025   2024 
        Interest         Interest  
    Deposit    Income    Deposit    Income 
    July 31, 2025    July 31, 2025    July 31, 2024    July 31, 2024 
                     
USA  $17,570,384   $423,828   $17,768,418   $623,861 
UK   3,680,192    61,407    2,461,786    80,391 
Denmark   -    9,378    -    11,765 
                     
   $21,250,576   $494,613   $20,230,204   $716,017 

 

Inventory consisted of the following as of:

 

   July 31,   October 31, 
   2025   2024 
         
Raw materials and other sub-components  $10,560,839   $10,368,350 
Work in progress   435,059    193,062 
Finished goods   2,716,479    3,340,464 
Stock in transit   -    73,653 
Total Inventory  $13,712,377   $13,975,529 

 

Other current assets consisted of the following as of:

 

   July 31,   October 31, 
   2025   2024 
         
Deposits  $12,874   $63,630 
Other Tax Receivables   18,272    240,909 
Employee Retention Credit Receivables   212,300    212,300 
Other Receivables   179,520    321,996 
Total Other Current Assets  $422,966   $838,835 

 

 

CODA OCTOPUS GROUP, INC.

Notes to the Unaudited Consolidated Financial Statements

July 31, 2025 and October 31, 2024

 

NOTE 7 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS (Continued)

 

Fixed Assets consisted of the following as of:

 

   July 31,   October 31, 
   2025   2024 
         
Buildings  $6,011,760   $5,881,237 
Land   200,000    200,000 
Office machinery and equipment   2,573,399    1,872,693 
Rental assets   2,983,030    2,784,921 
Furniture, fixtures and improvements   1,595,443    1,549,965 
Totals   13,363,632    12,288,816 
Less: accumulated depreciation   (6,188,235)   (5,465,826)
           
Total Property and Equipment, net   7,175,397    6,822,990 
           
Right of use assets, net   388,085    413,171 
           
Total Fixed Assets, net  $7,563,482   $7,236,161 

 

Depreciation expense for the three months ended July 31, 2025, and 2024 was $232,036 and $187,982, respectively, and for the nine months ended July 31, 2025, and 2024 was $642,801 and $533,968, respectively.

 

Property and equipment, net, by geographic areas were as follows:

 

   July 31,   October 31, 
   2025   2024 
         
USA  $1,964,741   $1,743,840 
Europe   5,210,656    5,079,150 
           
Total Property and Equipment, net  $7,175,397   $6,822,990 

 

Accrued Expenses and Other Current Liabilities consisted of the following as of:

 

   July 31,   October 31, 
   2025   2024 
         
Accruals  $368,892   $560,986 
Other Tax Payables   1,058,762   924,735 
Commitment and Contingent Liability – PAL Earn Out   158,872    - 
Employee Related   97,232   118,875 
Total Accrued Expenses and Other Current Liabilities  $1,683,758   $1,604,596 

 

Total Other Income, consisted of the following:

 

   Three Months   Three Months   Nine Months   Nine Months 
   Ended   Ended   Ended   Ended 
   July 31,   July 31,   July 31,   July 31, 
   2025   2024   2025   2024 
                 
Grant Income  $-   $-   $100,186   $26,761 
Other   8,922    10,463    19,735    16,086 
Total Other Income  $8,922   $10,463   $119,921   $42,847 
                     
Interest Received   154,848    230,009    494,613    716,017 
                     
Total Other Income, net  163,770   240,472   614,534   758,864