XML 31 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Business Acquistion (Tables)
6 Months Ended
Apr. 30, 2018
Business Combinations [Abstract]  
Summary of Assets Purchased

The following table summarizes the assets purchased:

 

Assets acquired:        
Accounts receivable   $ 86,442  
Inventory     1,140,893  
Equipment     450,000  
Prepaid expenses     62,882  
Non-compete     150,000  
Goodwill     1,000,000  
Assets acquired:   $ 2,890,217  
Purchase of assets funded by:        
Cash paid   $ 2,740,217  
Note payable to seller     150,000  
    $ 2,890,217  

Schedule of Pro Forma Results of Operations

    Six Months Ended
April 30,
    Three Months Ended
April 30,
 
    2018     2017     2018     2017  
                         
Pro forma sales   $ 49,905,031     $ 43,360,087     $ 24,637,939     $ 20,786,149  
Pro forma net income (loss)   $ 973,134     $ 430,107     $ 514,844     $ (23,813 )
Pro forma basic and diluted earnings per share   $ .17     $ .07     $ .09     $ .00