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Condensed Consolidated Balance Sheets - USD ($)
Apr. 30, 2025
Oct. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 1,832,162 $ 1,381,023
Accounts receivable, net of allowances for credit losses of $144,000 for 2025 and 2024 10,146,393 9,367,338
Inventories 17,215,904 15,705,984
Due from broker 2,688,024 1,466,059
Prepaid expenses and other current assets 439,129 167,207
Prepaid and refundable income taxes 285,439
TOTAL CURRENT ASSETS 32,321,612 28,373,050
Building, machinery, and equipment, net 3,111,793 3,221,865
Customer list and relationships, net of accumulated amortization of $301,000 and $285,750 for 2025 and 2024, respectively 139,000 154,250
Trademarks and tradenames 327,000 327,000
Equity method investments 39,651 39,651
Right-of-use asset 2,894,746 1,166,537
Deferred income tax assets, net 366,858 592,398
Deposits and other assets 528,324 135,937
TOTAL ASSETS 39,728,984 34,010,688
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 5,212,257 5,743,899
Due to broker 484,048 794,804
Lease liabilities - current portion 793,729 307,364
TOTAL CURRENT LIABILITIES 6,490,034 6,846,067
Line of credit 3,000,000
Lease liabilities – long term 2,135,691 865,668
Deferred compensation payable 128,381 121,386
TOTAL LIABILITIES 11,754,106 7,833,121
Commitments and Contingencies (Note 9)
STOCKHOLDERS’ EQUITY:    
Preferred stock, par value $.001 per share; 10,000,000 shares authorized; none issued
Common stock, par value $.001 per share; 30,000,000 shares authorized, 6,633,930 shares issued for April 30, 2025 and October 31, 2024; 5,708,599 shares outstanding for April 30, 2025 and October 31, 2024 6,634 6,634
Additional paid in capital 19,094,618 19,094,618
Retained earnings 13,507,186 11,709,875
Less: common stock held in treasury, at cost; 925,331 shares for April 30, 2025 and October 31, 2024 (4,633,560) (4,633,560)
TOTAL STOCKHOLDERS’ EQUITY 27,974,878 26,177,567
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 39,728,984 $ 34,010,688