Stockholders’ Equity

9 Months Ended

Jul. 31, 2024

Equity [Abstract]

Stockholders’ Equity

Note 11 - 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 did not purchase any shares during the three and nine months ended July 31, 2024 and the year ended October 31, 2023.

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 for 1,000,000 shares to employees, officers and non-employee directors from the 2013 Plan 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 three and nine months ended July 31, 2024 or for the year ended October 31, 2023.

The Company recorded no stock-based compensation expense for the three and nine months ended July 31, 2024 and 2023, as all stock option awards were fully vested as of the beginning of the reporting period.