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Stockholders' Equity
6 Months Ended
Apr. 30, 2018
Equity [Abstract]  
Stockholders' Equity

NOTE 14 - STOCKHOLDERS’ EQUITY:

 

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 103,593 shares for $438,791 during the six months ended April 30, 2018. The Company purchased 57,367 shares for $247,382 during the year ended October 31, 2017.

 

Share Repurchase Program. On September 29, 2015, the Company announced that the Board of Directors had approved a share repurchase program (the “2015 Share Repurchase Program”) pursuant to which the Company may repurchase up to $2 million of its outstanding shares of common stock from time to time on the open market and in privately negotiated transactions subject to market conditions, share price and other factors. The timing and amount of any shares repurchased will be determined based on the Company’s evaluation of market conditions and other factors. The 2015 Share Repurchase Program may be discontinued or suspended at any time. Pursuant to the terms of the 2015 Share Repurchase Program, the Company purchased 3,384 and 337,269 shares respectively for $15,829 and $1,754,878, respectively during the year ended October 31, 2017 and 2016. On September 10, 2017, the Company announced that the Board of Directors had approved a share repurchase program (the “2017 Share Repurchase Program”) pursuant to which the Company may repurchase up to $2 million of its outstanding shares of common stock from time to time on the open market and in privately negotiated transactions subject to market conditions, share price and other factors. The timing and amount of any shares repurchased will be determined based on the Company’s evaluation of market conditions and other factors

  

The 2017 Share Repurchase Program may be discontinued or suspended at any time. Pursuant to the terms of the 2017 Share Repurchase Program, the Company purchased 103,593 and 53,983 shares for $438,791 and $239,091 during the six months ended April 30, 2018 and for the year ended October 31, 2017, respectively.