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Note 7 - Fair Value Measurements
9 Months Ended
Jul. 31, 2019
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

(7)

Fair Value Measurements

 

The carrying amounts reported in the condensed consolidated balance sheets as of July 31, 2019 and October 31, 2018 for cash, trade accounts receivable, other receivables, notes payable to bank - current and accounts payable and accrued expenses, including accrued compensation and payroll taxes, approximate fair value because of the short maturity of these instruments. The carrying values of the Company’s note payable to bank - noncurrent and long-term debt approximate fair value based on similar long-term debt issues available to the Company as of July 31, 2019 and October 31, 2018. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.