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Business Acquisition (Tables)

12 Months Ended

Oct. 31, 2019

Business Combinations [Abstract]

Summary of Assets Purchased

The following table summarizes the amounts of assets purchased:

Assets acquired:
Accounts receivable		$	86,442
Inventory			1,116,021
Equipment			221,283
Prepaid expenses			28,913
Non-compete			99,000
Customer lists			245,000
Tradename			668,000
Goodwill			363,396
Less: Liability assumed			10,210
Less: Note payable			140,510
Cash paid		$	2,677,335

Schedule of Pro Forma Results of Operations

This pro forma financial information is not indicative of the results of operations that the Company would have attained had the acquisition occurred at the beginning of the periods presented, nor is the pro forma financial information indicative of the results of operations that may occur in the future:

		Twelve Months Ended October 31,
		2018
Pro forma sales		$	95,900,631
Pro forma net income (loss)		$	940,437
Pro forma basic and diluted earnings per share		$	.17

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- References

No definition available.

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472

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