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Note 12 - Income Taxes (Tables)

12 Months Ended

Oct. 31, 2018

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Fiscal year ended October 31, 2018		Current				Deferred				Total
U.S. Federal		$	14,163			$	(49,281	)		$	(35,118	)
State			18,467				—				18,467
Totals		$	32,630			$	(49,281	)		$	(16,651	)

Fiscal year ended October 31, 2017		Current				Deferred				Total
U.S. Federal		$	—			$	—			$	—
State			(5,438	)			—				(5,438	)
Totals		$	(5,438	)		$	—			$	(5,438	)

Fiscal year ended October 31, 2016		Current				Deferred				Total
U.S. Federal		$	35,118			$	—			$	35,118
State			(29,219	)			—				(29,219	)
Totals		$	5,899			$	—			$	5,899

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Years ended October 31,
		2018				2017				2016
“Expected” income taxes (benefit)		$	243,772			$	(593,031	)		$	(610,332	)
Increase (reduction) in income tax expense (benefit) resulting from:
Remeasurement of deferred taxes related to the Tax Act			1,272,517				—				—
State income taxes, net of federal benefit			2,641				(29,422	)			(79,386	)
Meals and Entertainment			24,661				32,119				29,783
Provision to return reconciliation adjustment			(57,118	)			18,064				8,760
Other differences, net			964				4,503				12,084
Change in valulation allowance			(1,504,088	)			562,329				644,990
Reported income tax expense (benefit)		$	(16,651	)		$	(5,438	)		$	5,899

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		October 31,
		2018				2017
Deferred tax assets:
Accounts receivable, due to allowances for doubtful accounts and sales returns		$	36,779			$	71,085
Inventories, due to allowance for damaged and slow-moving inventories and additional costs inventoried for tax purposes pursuant to the Tax Reform Act of 1986			780,446				1,088,631
Liabilities recorded for accrued expenses, deductible for tax purposes when paid			472,641				114,713
Share-based compensation expense			474,163				265,027
Net operating loss carryforwards			528,939				2,099,195
AMT credit carryforwards			49,281				—
Other			59,219				118,119
Total gross deferred tax assets			2,401,468				3,756,770
Valuation allowance			(2,118,487	)			(3,622,575	)
Net deferred tax assets			282,981				134,195
Deferred tax liabilities:
Plant and equipment, due to differences in depreciation and capital gain recognition			(231,672	)			(130,626	)
Other receivables, due to accrual for financial reporting purposes			(2,028	)			(3,569	)
Total gross deferred tax liabilities			(233,700	)			(134,195	)
Net deferred tax asset		$	49,281			$	—

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		October 31,
		2018				2017
Unrecognized tax benefits balance at beginning of year		$	65,549			$	78,322
Gross decreases for tax positions of prior years			(7,708	)			(12,773	)
Gross increases for current year tax positions			2,306				—
Unrecognized tax benefits balance at end of year		$	60,147			$	65,549

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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