Stockholders’ Equity

3 Months Ended

Jan. 31, 2025

Statement of Stockholders' Equity [Abstract]

Stockholders’ Equity

Note 12 - 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 months ended January 31, 2025 and the year ended October 31, 2024.

Stock Options

The Company has an incentive stock plan, the 2013 Equity Compensation Plan (the “2013 Plan”), and has granted stock options for an aggregate of 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 months ended January 31, 2025 or for the year ended October 31, 2024.

The Company recorded no stock-based compensation expense for the three months ended January 31, 2025 and 2024, as all stock option awards were fully vested as of the beginning of the reporting period.