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COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS
 12 Months Ended
Oct. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS

NOTE 6 – COMPOSITION OF CERTAIN FINANCIAL STATEMENT CAPTIONS

 

Certified Deposit Interest Bearing Accounts

 

The Company established certified deposit interest-bearing accounts with its current bankers HSBC NA and Jyske Bank in February 2023. These interest-bearing accounts are for rolling fixed short-term periods not exceeding 3 months and are classified in our financial statements as “cash equivalents”. The Company also maintains an interest-bearing deposit account in the UK that tracks the Bank of England base rate, which has no restrictions on access and has a current rate of 3.75%. The table below indicates the amounts which, at the date hereof, are held in certified deposit and unrestricted interest-bearing accounts, and interest earned in the period:

 

   Deposit   Interest   Deposit   Interest 
Country  October 31, 2025   October 31, 2025   October 31, 2024   October 31, 2024 
                 
USA  $18,693,053   $616,437   $15,156,719   $823,816 
UK   3,416,612    82,126    764,659    103,144 
*Denmark   -    9,534    -    11,815 
                     
   $22,109,665   $708,097   $15,921,378   $938,775 

 

*This amount relates to interest earned on our Jyske bank current account which is not part of our Certified Deposit arrangement

 

Inventory consisted of the following as of:

 

   October 31,   October 31, 
   2025   2024 
         
Raw materials and parts  $10,622,753   $10,368,350 
Work in progress   565,147    193,062 
Finished goods   2,448,612    3,340,464 
Stock in transit   -    73,653 
Total Inventory  $13,636,512   $13,975,529 

 

 

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

October 31, 2025 and 2024

 

Other current assets consisted of the following as of:

 

   October 31,   October 31, 
   2025   2024 
         
Deposits and other assets  $59,715   $63,630 
Other Tax Receivables   -    240,909 
Employee Retention Credit Receivables   212,300    212,300 
Other Foreign Tax Receivables   259,454    321,996 
Total Other Current Assets  $531,469   $838,835 

 

Fixed assets consisted of the following as of:

 

   October 31,   October 31, 
   2025   2024 
         
Buildings  $5,979,758   $5,881,237 
Land   200,000    200,000 
Office machinery and equipment   2,194,151    1,872,693 
Software   364,923    - 
Rental assets   

2,874,192

    2,784,921 
Furniture, fixtures and improvements   1,611,168    1,549,965 
Totals   

13,224,192

    12,288,816 
Less: accumulated depreciation   

(5,928,401

)   (5,465,826)
Total Property and Equipment, net   

7,295,791

    6,822,990 
           
Right of Use Asset (Operating Lease), net   372,647    413,171 
           
Total Fixed Assets, net  $

7,668,438

   $7,236,161 

 

Depreciation expense for the years ended October 31, 2025 and 2024 were $861,292 and $710,059, respectively.

 

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

 

   October 31,   October 31, 
   2025   2024 
         
USA  $1,990,372   $1,743,840 
Europe   

5,305,419

    5,079,150 
           
Total Property and Equipment, net  $7,295,791   $6,822,990 

 

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

 

   October 31,   October 31, 
   2025   2024 
         
Accruals  $

759,323

   $560,986 
Other Tax Accrued or Payable   1,664,590    924,735 
Employee Related   52,039    118,875 
Total Accrued Expenses and Other Current Liabilities  $2,475,952   $1,604,596 

 

 

 

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

October 31, 2025 and 2024

 

Total Other Income, net consisted of the following for the year ended:

 

   October 31,   October 31, 
   2025   2024 
         
Grant Income  $194,761   $34,422 
Other   73,331    53,960 
Total Other Income   268,092    88,382 
           
Interest  $708,097   $938,775 
           
Total Other Income, net  $976,189   $1,027,157