Related Party Transactions

3 Months Ended

Jan. 31, 2022

Related Party Transactions [Abstract]

Related Party Transactions

5. Related Party Transactions:

Avis Industrial Corporation (“Avis”) owns 80% of the outstanding shares of the Company. Avis owns 100% of The American Baler Company, a competitor of the Company. On January 1, 2014, Avis acquired The Harris Waste Management Group, Inc. (“Harris”), also a competitor of the Company. On July 31, 2014, Harris acquired the assets of IPS Balers, Inc. in Baxley, Georgia, another competitor of the Company. The Company operates independently and does not transact business with these related entities. Avis owns 100% of Peninsular Cylinder Co., Inc (“Peninsular”), a company that manufactures cylinders. The Company purchased $56,665 in the first quarter ended January 31, 2022 and $120 of cylinders from Peninsular in the first quarter of fiscal 2021.