SHORTTERM DEPOSITS	3 Months Ended
Jan. 31, 2023
SHORTTERM DEPOSITS
SHORT-TERM DEPOSITS	NOTE 5 – SHORT-TERM DEPOSITS Office Lease deposit Short-term deposits represent a deposit required for a new office lease in Australia. On June 1, 2021, the Company (through GTG) entered into a three-year term lease agreement for office space and two parking spaces which commenced on June 1, 2021. The Company has the option to renew for a period of three years. The current rent is $113,110 ($167,338 AUD) per year (subject to a 4% annual increase) plus goods and services tax charged at 10% based on Australian Taxation Law. Under the terms of the lease, the Company is required to provide a bank guarantee and has entered into a $57,630 ($81,896 AUD) Term Deposit at St. George Bank (with lessor as beneficiary) as collateral for the bank guarantee (from St. George Bank) to the benefit of the lessor. The Term Deposit was opened on June 1, 2021, had a one-year maturity and earned 0.25% interest per year. On June 1, 2022, the Term Deposit was automatically reinvested at St. George Bank for an additional one-year term, under the same terms as the original Term Deposit of June 1, 2021; the interest rate on renewal is 0.25%. As of January 31, 2023 and October 31, 2022, the operating lease right-of-use asset is $140,153 and $150,653, respectively, and there was also a current operating lease liability of $107,050 and $95,085, respectively and a non-current operating lease liability of $37,733 and $59,778, respectively.

SHORTTERM DEPOSITS

3 Months Ended

Jan. 31, 2023

NOTE 5 – SHORT-TERM DEPOSITS

Office Lease deposit

Short-term deposits represent a deposit required for a new office lease in Australia. On June 1, 2021, the Company (through GTG) entered into a three-year term lease agreement for office space and two parking spaces which commenced on June 1, 2021. The Company has the option to renew for a period of three years. The current rent is $113,110 ($167,338 AUD) per year (subject to a 4% annual increase) plus goods and services tax charged at 10% based on Australian Taxation Law.

Under the terms of the lease, the Company is required to provide a bank guarantee and has entered into a $57,630 ($81,896 AUD) Term Deposit at St. George Bank (with lessor as beneficiary) as collateral for the bank guarantee (from St. George Bank) to the benefit of the lessor. The Term Deposit was opened on June 1, 2021, had a one-year maturity and earned 0.25% interest per year. On June 1, 2022, the Term Deposit was automatically reinvested at St. George Bank for an additional one-year term, under the same terms as the original Term Deposit of June 1, 2021; the interest rate on renewal is 0.25%.

As of January 31, 2023 and October 31, 2022, the operating lease right-of-use asset is $140,153 and $150,653, respectively, and there was also a current operating lease liability of $107,050 and $95,085, respectively and a non-current operating lease liability of $37,733 and $59,778, respectively.