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2. Restatement of Previously Issued Consolidated Financial Statement: Restatement to Prior Year Income (Tables)
 12 Months Ended
Oct. 31, 2017
Tables/Schedules  
Restatement to Prior Year Income

 

October 31, 2015

Select Balance Sheet Accounts

As Reported

Adjustments

As Restated

Reference

PASSUR Network, net

 $   5,902,751

 $         (554,088)

 $   5,348,663

2

Capitalized software development costs, net

 $   7,684,603

 $         (786,894)

 $   6,897,709

1

Deferred tax asset, non-current

 $   1,658,557

 $          325,234

 $   1,983,791

1-3

Total stockholders' equity

 $ 11,473,100

 $      (1,015,748)

 $ 10,457,352

1-3

 

The following tables summarize the impact of the Restatement on our previously reported Consolidated Balance Sheets, Consolidated Statements of Income, Consolidated Statements of Cash Flows for the year ending October 31, 2016:

 

October 31, 2016

 

Select Balance Sheet Accounts

As Reported

Period Adjustments

Prior Period Adjustments

As Restated

Reference

PASSUR Network, net

 $ 5,739,753

 $         12,756

 $    (554,088)

 $ 5,198,421

2

Capitalized software development costs, net

 $ 8,263,533

 $       123,399

 $    (786,894)

 $ 7,600,038

1

Deferred tax asset, non-current

 $ 1,250,833

 $      (53,100)

 $       325,234

 $ 1,522,967

1-2

Total stockholders' equity

 $12,327,187

 $         83,055

 $  (1,015,748)

 $11,394,494

1-2

 

October 31, 2016

Select Statement of Operations Accounts

As Reported

Adjustments

As Restated

Reference

Cost of revenues

 $   6,377,104

 $         (136,155)

 $   6,240,949

1-2

Income from operations

 $   1,207,904

 $          136,155

 $   1,344,059

1-2

Income tax expense

 $     589,923

 $            53,100

 $     643,023

1-2

Net income

 $     434,648

 $            83,055

 $     517,703

1-2

Net income per common share - basic

 $          0.06

 $               0.01

 $          0.07

Net income per common share - diluted

 $          0.06

 $               0.01

 $          0.07

October 31, 2016

Select Statement of Cash Flows Accounts

As Reported

Adjustments

As Restated

Reference

Net income

 $     434,648

 $            83,055

 $     517,703

1-2

Depreciation and amortization

 $   3,341,349

 $         (450,808)

 $   2,890,541

1-2

Provision for deferred taxes

 $     540,505

 $            53,100

 $     593,605

Net cash provided by operating activities

 $   4,910,053

 $         (314,653)

 $   4,595,400

1-2

PASSUR Network

 $    (776,138)

 $          154,040

 $    (622,098)

2

Capitalized software development

 $ (2,423,811)

 $          160,613

 $ (2,263,198)

1

Net cash used in investing activities

 $ (3,530,126)

 $          314,653

 $ (3,215,473)

1-2

 

The following tables summarize the impact of the Restatement on our previously reported unaudited Consolidated Balance Sheets, unaudited Consolidated Statements of Operations, and unaudited Consolidated Statements of Cash Flows for each of the quarters of fiscal year 2017:

 

Three months ended January 31, 2017

Select Balance Sheet Accounts

As Reported

Period Adjustments

Prior Period Adjustments

As Restated

Reference

PASSUR Network, net

 $   5,686,154

 $          (18,833)

 $     (541,332)

 $   5,125,989

2

Capitalized software development costs, net

 $   8,419,097

 $            27,068

 $     (663,495)

 $   7,782,670

1

Deferred tax asset, non-current

 $   1,165,039

 $                  -  

 $       272,134

 $   1,437,173

Total stockholders' equity

 $ 12,212,596

 $             8,235

 $     (932,693)

 $ 11,288,138

1-2

Six months ended April 30, 2017

Select Balance Sheet Accounts

As Reported

Period Adjustments

Prior Period Adjustments

As Restated

Reference

PASSUR Network, net

 $   5,918,106

 $          (55,970)

 $     (560,165)

 $   5,301,971

2

Capitalized software development costs, net

 $   8,616,778

 $            22,783

 $     (636,427)

 $   8,003,134

1

Deferred tax asset, non-current

 $   1,358,400

 $                  -  

 $       272,134

 $   1,630,534

Total stockholders' equity

 $ 12,287,185

 $          (33,187)

 $     (924,458)

 $ 11,329,540

1-2

Nine months ended July 31, 2017

Select Balance Sheet Accounts

As Reported

Period Adjustments

Prior Period Adjustments

As Restated

Reference

PASSUR Network, net

 $   6,169,478

 $          (35,256)

 $     (616,135)

 $   5,518,087

2

Capitalized software development costs, net

 $   8,957,601

 $            16,449

 $     (613,644)

 $   8,360,406

1

Deferred tax asset, non-current

 $   1,271,900

 $                  -  

 $       272,134

 $   1,544,034

Total stockholders' equity

 $ 11,861,213

 $          (18,807)

 $     (957,645)

 $ 10,884,761

1-2

 

Three months ended January 31, 2017

Select Statement of Operations Accounts

As Reported

Adjustments

As Restated

Reference

Cost of revenues

 $   1,690,009

 $            (8,235)

 $   1,681,774

1-2

(Loss)/Income from operations

 $    (120,467)

 $              8,235

 $    (112,232)

1-2

(Benefit) provision for income taxes

 $       94,684

 $         (197,749)

 $    (103,065)

3

Net (loss)/income

 $    (256,551)

 $          205,984

 $     (50,567)

Net (loss)/income per common share - basic

 $         (0.03)

 $               0.02

 $         (0.01)

Net (loss)/income per common share - diluted

 $         (0.03)

 $               0.02

 $         (0.01)

Three months ended April 30, 2017

Select Statement of Operations Accounts

As Reported

Adjustments

As Restated

Reference

Cost of revenues

 $   1,534,126

 $            33,187

 $   1,567,313

1-2

(Loss)/Income from operations

 $    (185,166)

 $          (33,187)

 $    (218,353)

1-2

(Benefit) provision for income taxes

 $    (192,325)

 $                  -  

 $    (192,325)

Net (loss)/income

 $     (38,112)

 $          (33,187)

 $     (71,299)

Net (loss)/income per common share - basic

 $          0.00

 $              (0.01)

 $         (0.01)

Net (loss)/income per common share - diluted

 $          0.00

 $              (0.01)

 $         (0.01)

Three months ended July 31, 2017

Select Statement of Operations Accounts

As Reported

Adjustments

As Restated

Reference

Cost of revenues

 $   1,489,703

 $              18,807

 $   1,508,510

1-2

(Loss)/Income from operations

 $    (451,460)

 $           (18,807)

 $    (470,267)

1-2

(Benefit) provision for income taxes

 $        86,500

 $                       -  

 $       86,500

Net (loss)/income

 $    (579,360)

 $          (18,807)

 $    (598,167)

Net (loss)/income per common share - basic

 $         (0.08)

 $                      -  

 $         (0.08)

Net (loss)/income per common share - diluted

 $         (0.08)

 $                      -  

 $         (0.08)

 

Three months ended January 31, 2017

Select Statement of Cash Flows Accounts

As Reported

Adjustments

As Restated

Reference

Net (loss)/income

 $    (256,551)

 $          205,984

 $      (50,567)

1-3

Depreciation and amortization

 $      857,174

 $       (111,256)

 $      745,918

1-2

Provision for deferred taxes

 $        85,794

 $       (197,749)

 $    (111,955)

3

Net cash (used in)/ provided by operating activities

 $    (124,381)

 $       (103,021)

 $    (227,402)

1-3

PASSUR Network

 $    (162,795)

 $            62,658

 $    (100,137)

2

Capitalized software development

 $    (647,432)

 $            40,362

 $    (607,070)

1

Net cash used in investing activities

 $    (896,046)

 $          103,021

 $    (793,025)

1-2

Six months ended April 30, 2017

Select Statement of Cash Flows Accounts

As Reported

Adjustments

As Restated

Reference

Net (loss)/income

 $    (294,663)

 $          172,797

 $    (121,866)

1-3

Depreciation and amortization

 $    1,702,760

 $       (222,512)

 $    1,480,248

1-2

Provision for deferred taxes

 $    (107,567)

 $       (197,749)

 $    (305,316)

3

Net cash (used in)/ provided by operating activities

 $    2,339,774

 $       (247,464)

 $   2,092,310

1-3

PASSUR Network

 $    (596,533)

 $          162,453

 $    (434,080)

2

Capitalized software development

 $ (1,327,848)

 $            85,009

 $ (1,242,839)

1

Net cash used in investing activities

 $ (2,021,324)

 $          247,464

 $ (1,773,860)

1-2

Nine months ended July 31, 2017

Select Statement of Cash Flows Accounts

As Reported

Adjustments

As Restated

Reference

Net (loss)/income

 $    (874,024)

 $          153,990

 $    (720,034)

1-3

Depreciation and amortization

 $    2,519,500

 $       (349,331)

 $   2,170,169

1-2

Provision for deferred taxes

 $      (21,067)

 $       (197,749)

 $    (218,816)

3

Net cash (used in)/ provided by operating activities

 $    2,711,495

 $       (393,090)

 $   2,318,405

1-3

PASSUR Network

 $ (1,023,608)

 $          261,238

 $    (762,370)

2

Capitalized software development

 $ (2,144,555)

 $          131,850

 $ (2,012,705)

1

Net cash used in investing activities

 $ (3,421,958)

 $          393,090

 $ (3,028,868)

1-2