Stockholders' Equity

6 Months Ended

Apr. 30, 2021

Equity [Abstract]

Stockholders' Equity

NOTE 11 - 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 three and six months ended April 30, 2021 and the year ended October 31, 2020.

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, 2021, the Board of Directors approved 1,000,000 options.

The Company recorded $189,769 and $379,537 of stock-based compensation for the three and six months ended April 30, 2021 and $240,909 and $488,940 for the three and six months ended April 30, 2020, respectively.

The remaining unamortized stock compensation expense as of April 30, 2021 was approximately $785,357, which will be expensed over a weighted average period of one year.