STOCKHOLDERS’ EQUITY

12 Months Ended

Oct. 31, 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 years ended October 31, 2021 and 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 1,000,000 stock options to employees, officers and non-employee directors from the 2013 Plan each with an exercise price of $5.43. 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. No options were granted, forfeited or expired during the years ended October 31, 2021 and 2020. As of October 31, 2021, 666,383 options are exercisable.
	The Company recorded $759,073 and $868,477 of stock-based compensation during the years ended October 31, 2021 and 2020, respectively. The weighted average remaining contractual life of the outstanding options as of October 31, 2021 is 0.5 years.
	The unrecognized stock compensation expense as of October 31, 2021 was approximately $405,821.
c.	Common Stock. Our common stock is traded on the Nasdaq Capital Market. As of October 31, 2021 we had 30,000,000 shares of our $0.001 par value common stock authorized, with 6,633,930 and 5,708,599 shares issued and outstanding, respectively.
d.	Preferred Stock. We are authorized to issue up to 10,000,000 shares of preferred stock, par value $0.001 per share, with such designations, rights, and preferences as may be determined from time to time by our board of directors. As of October 31, 2021, no shares of our preferred stock were outstanding.