Note 15 - Subsequent Events

6 Months Ended

Apr. 30, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

Note

1

5

–

Subsequent event

On

May 5, 2020,

as part of the Paycheck Protection Program (“PPP”) of the CARES Act, we received PPP loans in the aggregate totaling approximately

$2.8

million (“PPP Loan”).  The funds from the PPP Loan will be used to retain employees, maintain payroll and benefits, and make lease and utility payments during the

eight

-week period following the receipt of the loan, which amounts are intended to be eligible for forgiveness, subject to the provisions of the CARES Act. To the extent

not

forgiven, the loan has a

two

-year term, a fixed interest rate of

1%,

and principal and interest payments are deferred for

six

months.