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Stockholders' Equity | 12 Months Ended
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Oct. 31, 2020
Equity [Abstract] |
Stockholders' Equity | NOTE 12 - STOCKHOLDERS’ EQUITY:
| a. | Treasury Stock. The Company utilizes the cost method of accounting for treasury stock. The cost of reissued shares is determined under the last-in, first-out method. The Company did not purchase any shares during the years ended October 31, 2020 and 2019.
| b. | Stock Options. The Company has an incentive stock plan, the 2013 Equity Compensation Plan (the “2013 Plan”), and on April 19, 2019, has granted stock options to employees, officers and non-employee directors from the 2013 Plan. Options granted under the 2013 Plan may be Incentive Stock Options or Nonqualified Stock Options, as determined by the Administrator at the time of grant. As of January 31, 2020, the Board of Directors approved 1,000,000 options.
|  | During the year ended October 31, 2019, the Company granted stock option awards to five board members to purchase an aggregate 59,000 shares of the Company’s common stock at $5.43 per share.
The stock options have an expected term of six years and will vest over a twelve month service period. The stock options have an aggregate grant date fair value of approximately $233,050. The Company also granted stock option awards to certain officers and employees to purchase an aggregate of 941,000 shares of the Company’s common stock at an exercise price of $5.43 per share. The stock options have an expected term of six years and will vest over a three year service period. These stock options have an aggregate grant date fair value of approximately $2,277,220. The following table represents stock option activity for the year ended October 31, 2020:
|  | Stock Options |  |  | Exercise Price |  |  | Contractual Life |  |  | Aggregate Intrinsic |
|  | Outstanding |  |  | Exercisable |  |  | Outstanding |  |  | Exercisable |  |  | (Years) |  |  | Value |
Balance October 31, 2019 |  |  | 1,000,000 |  |  |  | - |  |  | $ | 5.43 |  |  |  | - |  |  |  | 10 |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Cancelled |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balance October 31, 2020 |  |  | 1,000,000 |  |  |  | - |  |  | $ | 5.43 |  |  |  | - |  |  |  | 10 |  |  |  | - |
|  | Stock Options |  |  | Exercise Price |  |  | Contractual Life |  |  | Aggregate Intrinsic |
|  | Outstanding |  |  | Exercisable |  |  | Outstanding |  |  | Exercisable |  |  | (Years) |  |  | Value |
Balance October 31, 2018 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Granted |  |  | 1,000,000 |  |  |  |  |  |  | $ | 5.43 |  |  |  | - |  |  |  | 10 |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Cancelled |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balance October 31, 2019 |  |  | 1,000,000 |  |  |  | - |  |  | $ | 5.43 |  |  |  | - |  |  |  | 10 |  |  |  | - |
The Company recorded $868,477 and $476,899 of stock-based compensation during the years ended October 31, 2020 and 2019, respectively. The unrecognized stock compensation expense as of October 31, 2020 was approximately $1,164,894.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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