Note 11 - Intangible Assets

6 Months Ended

Apr. 30, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note 11 – Intangible assets

Intangible assets consist of the following (in thousands):

	April 30, 2023			October 31, 2022
Amortizable intangible assets:
Non-compete agreement (estimated life 5 years)	$	423		$	423
Accumulated amortization		(356	)		(334	)
		67			89
Customer relationships (estimated lives 7 - 15 years)		6,058			6,058
Accumulated amortization		(3,267	)		(3,074	)
		2,791			2,984
Backlog (estimated life 1 - 2 years)		327			327
Accumulated amortization		(327	)		(313	)
		-			14
Patents (estimated life 10 - 14 years)		368			368
Accumulated amortization		(160	)		(143	)
		208			225
Tradename (estimated life 15 years)		1,700			1,700
Accumulated amortization		(132	)		(76	)
		1,568			1,624
Proprietary Technology (estimated life 10 years)		11,100			11,100
Accumulated amortization		(1,295	)		(740	)
		9,805			10,360
Totals	$	14,439		$	15,296
Non-amortizable intangible assets:
Trademarks	$	1,174		$	1,174

Amortization expense for the six months ended April 30, 2023 and the year ended October 31, 2022 was $857,000 and $1,282,000, respectively. As of April 30, 2023, the weighted-average amortization period for the amortizable intangible assets is 9.02 years.