PRIOR PERIOD ADJUSTMENTS

12 Months Ended

Oct. 31, 2021

Prior Period Adjustments

PRIOR PERIOD ADJUSTMENTS

16. PRIOR PERIOD ADJUSTMENTS

During 2021, management discovered financial statement errors that caused an overstatement of October 31, 2020 previously reported other assets of $57,330. The error was related to deposit on inventory that was previously received and should have been recorded against cost of sales for the year ended October 31, 2018. Therefore, the cost of sales were understated in the financial statements for the year ended October 31, 2018 by $57,330.

Additionally, management corrected and restated Note 5 – Borrowings, for amounts reported Due from Stockholders to reflect the correct amount due on each note payable. No material changes where made to the Stockholders loan amounts.

The following summarizes the prior period adjustment referred to above:

Balance of Accumulated Deficit at October 31, 2019	$	(9,449,285	)
Prior period adjustment for:
Deposit on Inventory not reflected in Cost of Sales		(57,330	)
Balance of Accumulated Deficit at October 31, 2019, restated	$	(9,506,615	)