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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Oct. 31, 2023
Oct. 31, 2022
Oct. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (2,453,982) $ (4,684,189) $ (1,944,577)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation expense and amortization of intangible assets 1,631 22,853 27,447
Amortization of right-of-use assets 78,126 185,421 227,661
Impairment loss 0 123,646 696
Stock-based compensation and service expense 1,450,000 2,888,787 0
Bad debt provision 7,338 0 0
Loss on disposal of property and equipment 848 0 0
Changes in operating assets and liabilities:      
Accounts receivable 25,983 254,109 969,374
Security deposit 6,726 37,853 (43,750)
Interest receivable 262,192 (149,178) (113,014)
Due from related party 1,417 (1,511) 0
Other assets 91,348 495,668 (74,120)
Taxes payable 163,500 36,553 (78,932)
Salary payable 347,567 349,436 0
Accrued liabilities and other payables 99,649 304,576 (123,052)
Due to related parties 992,277 126,228 12,025
Operating lease liabilities - related party 0 0 (29,355)
Operating lease liabilities (80,316) (189,012) (194,341)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 994,304 (198,760) (1,363,938)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment 0 (2,346) (3,411)
Investment in note receivable (7,800,000) 0 (7,500,000)
Proceeds from note receivable 7,500,000 0 0
Purchase of short-term investments (27,779,231) (29,011,783) 0
Proceeds from sale of short-term investments 27,086,514 116,663 0
NET CASH USED IN INVESTING ACTIVITIES (992,717) (28,897,466) (7,503,411)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from note payable 0 0 75,581
Repayment of note payable 0 0 (75,581)
Proceeds from related parties' borrowings 9,535 225,171 1,893,932
Repayments of related parties' borrowings (9,818) (225,171) (2,272,145)
Proceeds from initial public offering 0 0 12,300,000
Disbursements for initial public offering costs 0 0 (1,489,388)
Proceeds from the June 2021 public offering 0 0 24,562,500
Disbursements for the June 2021 public offering costs 0 0 (2,352,418)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (283) 0 32,642,481
EFFECT OF EXCHANGE RATE ON CASH AND RESTRICTED CASH (1,471) (1,052,173) 145,014
NET (DECREASE) INCREASE IN CASH AND RESTRICTED CASH (167) (30,148,399) 23,920,146
Total cash and restricted cash at beginning of year 695,242 30,843,641 6,923,495
Total cash and restricted cash at end of year 695,075 695,242 30,843,641
Cash paid for:      
Interest 0 22 725
Income taxes 807 0 2,251
NON-CASH INVESTING AND FINANCING ACTIVITIES      
Reissuance of treasury stock 25,000 0 0
Payments made by related parties on the Company's behalf 1,068,700 0 119,886
RECONCILIATION OF CASH AND RESTRICTED CASH      
Cash at beginning of year 2,508 30,024,372 6,137,689
Restricted cash at beginning of year 692,734 819,269 785,806
Total cash and restricted cash at beginning of year 695,242 30,843,641 6,923,495
Cash at end of year 2,383 2,508 30,024,372
Restricted cash at end of year 692,692 692,734 819,269
Total cash and restricted cash at end of year $ 695,075 $ 695,242 $ 30,843,641