2. Property and Equipment, net

12 Months Ended

Oct. 31, 2021

Notes

2. Property and Equipment, net

2. Property and Equipment, net

Property and equipment consist of the following as of October 31, 2021 and 2020:

	Estimated useful lives	2021	2020
Leasehold improvements	3-5 years	$ 4,000	$ 4,000
Equipment	5-10 years	4,851,000	4,789,000
Furniture and fixtures	5-10 years	5,000	29,000
		4,860,000	4,822,000
Less: accumulated depreciation		4,767,000	4,564,000
Total		$ 93,000	$ 258,000

The Company recorded depreciation expense on the assets included in property and equipment of $219,000 and $279,000 for the years ended October 31, 2021 and 2020, respectively. In connection with the closing of certain office facilities during fiscal 2020, the Company disposed of certain assets associated with these locations and recorded a loss on disposal of $23,000 for the year ended October 31, 2020.