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Note 5 - Product Warranties

6 Months Ended

Apr. 30, 2015

Notes to Financial Statements

Product Warranty Disclosure [Text Block]

(5) Product Warranties

As of April 30, 2015 and October 31, 2014, the Company’s accrual for estimated product warranty claims totaled $150,000 and $100,000, respectively, and is included in accounts payable and accrued expenses. Warranty claims expense for the three months and six months ended April 30, 2015 totaled $117,336 and $156,415, respectively, and warranty claims expense for the three months and six months ended April 30, 2014 totaled $88,996 and $109,535, respectively.

The following table summarizes the changes in the Company’s accrual for product warranties during the six months ended April 30, 2015 and 2014:

		Six Months Ended
		April 30,
		2015				2014
Balance at beginning of period		$	100,000			$	190,000
Liabilities accrued for warranties issued during the period			185,083				212,255
Warranty claims and costs paid during the period			(106,415	)			(134,535	)
Changes in liability for pre-existing warranties during the period			(28,668	)			(102,720	)
Balance at end of period		$	150,000			$	165,000

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- Definition

The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

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