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Basis of Presentation and Significant Accounting Policy (Tables)

6 Months Ended

Apr. 30, 2020

Accounting Policies [Abstract]

Summary of Black Scholes Assumptions

The following assumptions were used as inputs to the Black Scholes option pricing model to estimate the fair value of option granted during the quarter ended July 31 2019 which are currently being expensed over the requisite service period:

Expected Life		10 years
Risk free interest rate		2.42% ˗ 2.57		%
Expected volatility		43.0% ˗ 64.2		%
Expected dividend yield			0	%
Forfeiture rate			0	%

Schedule of Operating Leases

The following summarizes the Company’s operating leases:

		April 30, 2020
Right-of-use operating lease assets		$	2,296,687
Current lease liability		$	476,754
Non-current lease liability		$	1,992,123

		April 30, 2020
Average remaining lease term			3.9
Discount rate			4.75	%

Schedule of Operating Lease Maturities

Maturities of lease liabilities by year for our operating leases are as follows:

2020		$	299,311
2021			547,788
2022			529,320
2023			531,807
2024			316,477
Thereafter			603,034
Total lease payments		$	2,827,737
Less: imputed interest			(358,860	)
Present value of operating lease liabilities		$	2,468,877

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

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Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

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