13. STOCKHOLDERS' EQUITY

9 Months Ended

Jul. 31, 2014

Equity [Abstract]

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 purchased 99,815 shares for $660,778 during the three months ended July 31, 2014 and zero during 2013. On January 24, 2014, the Company announced that the Board of Directors approved a share repurchase program pursuant to which the Company may repurchase up to $1 million of the Company’s outstanding common stock (the “Repurchase Program”). The Repurchase Program does not have an expiration date.

b. Dividends:  On December 27, 2012, the Company paid a cash dividend of $387,379 ($0.06 per share) to all stockholders of record as of December 15, 2012.