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Note 5 - Other Current Assets
 12 Months Ended
Oct. 31, 2023
Notes to Financial Statements  
Other Current Assets [Text Block]

Note 5 – Other current assets

 

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

 

   

2023

    

2022

  
                 

Employee retention credit ("ERC")

   $ 145     $ 1,636  

Prepaid taxes

     642       -  

Prepaid expense

     953       972  

Reimbursement for tenant improvements

     -       2,810  

Other

     396       431  
                 

Totals

   $ 2,136     $ 5,849  

 

Pursuant to the Coronavirus Aid, Relief, and Economic Security Act, H.R. 748 (“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 Internal Revenue Service. The period assessed for eligibility of the ERC is on a calendar year basis. As of October 31, 2023, the remaining portion of the ERC that we have not yet received is included as other receivables in other current assets.