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Note 5 - Other Current Assets

12 Months Ended

Oct. 31, 2022

Notes to Financial Statements

Other Current Assets [Text Block]

Note 5 – Other current assets

Other current assets consist of the following (in thousands):

		2022				2021

Employee retention credit ("ERC")		$	1,636			$	1,774
Prepaid taxes			-				314
Prepaid expense			972				439
Reimbursement for tenant improvments			2,810				-
Other			431				366

Totals		$	5,849			$	2,893

Pursuant to the CARES Act, eligible employers are able to claim an ERC, which is a refundable tax credit against certain employment taxes. If the employer’s employment tax deposits are not sufficient to cover the credit, the employer may get an advance payment from the IRS. The period assessed for eligibility of the ERC is on a calendar year basis. As of October 31, 2022, the remaining portion of the ERC that we have not yet received is included as other receivables in other current assets.