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4. FORMATION OF SUBSIDIARY (Tables)
 9 Months Ended
Jul. 31, 2016
Formation Of Subsidiary Tables  
Summary of assets purchased and liabilities assumed

The following table summarizes the assets purchased and liabilities assumed:

 

      
Assets acquired:      
Accounts receivable   $ 84,142  
Inventory     306,905  
Equipment     40,000  
Customer list     120,000  
Goodwill     577,905  
Less: liabilities assumed     (72,045 )
Net assets acquired:   $ 1,056,907  
Purchase of assets funded by:        
Cash paid   $ 856,904  
Common stock, par value $.001 per share, 38,364 shares     38  
Additional paid-in capital     199,965  
    $ 1,056,907  
Pro forma results of operations
                    Nine Months Ended July 31,                     Three Months Ended July 31,  
            2016       2015             2016           2015  
Pro forma sales   $ 62,751,256     $ 96,910,164     $ 17,689,710     $ 27,456,352  
Pro forma net income (loss)   $ 2,103,684     $ (1,960,479 )   $ 775,650     $ 202,569  
Pro forma basic and diluted earnings per share   $ .34     $ (.32 )   $ .13     $ .03