XML 51 R16.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Members' Equity
12 Months Ended
Oct. 31, 2019
Members' Equity [Abstract]  
Members' Equity
MEMBERS' EQUITY

The Company has one class of membership units, and is authorized to issue up to 10,000 units, which include certain transfer restrictions as specified in the operating agreement and pursuant to applicable tax and securities law, with each unit representing a pro rata ownership in the Company’s capital, profits, losses and distributions. Income and losses are allocated to all members based upon their respective percentage of units held.

Unit Repurchases

During the second quarter of our fiscal year ended October 31, 2019, the Company repurchased 4 of its membership units at a price of $8,000 per unit for a total purchase price of $32,000. During the fourth quarter of our fiscal year ended October 31, 2019, the Company repurchased 1 of its membership units at a price of $7,200 per unit for a total purchase price of $7,200. During the fourth quarter of our fiscal year ended October 31, 2018, the Company repurchased 2 of its membership units at a price of $8,000 per unit for a total purchase price of $16,000.