LEASE OBLIGATIONS (Tables)
|
3 Months Ended |
Jan. 31, 2026 |
|---|
| Lease Obligations |
|
| SCHEDULE OF BALANCE SHEET RELATED TO LEASES |
The
following table shows the classification and location of the Company’s leases in the Consolidated Balance Sheets:
SCHEDULE OF BALANCE SHEET RELATED TO LEASES
| Leases | |
Balance Sheet Location | |
January 31, 2026 | | |
October 31, 2025 | |
| Assets | |
| |
| | | |
| | |
| Noncurrent: | |
| |
| | | |
| | |
| Operating | |
Right-of-use asset – operating lease | |
$ | 328,015 | | |
$ | 360,681 | |
| Total Lease Assets | |
| |
$ | 328,015 | | |
$ | 360,681 | |
| | |
| |
| | | |
| | |
| Liabilities | |
| |
| | | |
| | |
| Current: | |
| |
| | | |
| | |
| Operating | |
Operating lease liabilities | |
$ | 132,666 | | |
$ | 136,813 | |
| Finance | |
Finance lease liabilities | |
| 2,337 | | |
| 5,043 | |
| Noncurrent: | |
| |
| | | |
| | |
| Operating | |
Operating lease liabilities | |
| 195,349 | | |
| 223,868 | |
| Total Lease Liabilities | |
| |
$ | 330,352 | | |
$ | 365,724 | |
|
| SCHEDULE OF OPERATIONS RELATED TO LEASES |
The
following table shows the classification and location of the Company’s lease costs in the Consolidated Statements of Operations:
SCHEDULE OF OPERATIONS RELATED TO LEASES
| | |
Location | |
2026 | | |
2025 | |
| | |
Statements of Operations | |
Three Months Ended January 31, | |
| | |
Location | |
2026 | | |
2025 | |
| Operating lease expense | |
General and administrative expense | |
$ | 41,501 | | |
$ | 54,944 | |
| Finance lease expense: | |
| |
| | | |
| | |
| Interest on lease liability | |
Interest expense | |
| 70 | | |
| 1,998 | |
| Total Lease expense | |
| |
$ | 41,571 | | |
$ | 56,942 | |
|
| SCHEDULE OF MINIMUM CONTRACTUAL OBLIGATIONS OF LEASES |
Minimum
contractual obligations for the Company’s leases (undiscounted) as of January 31, 2026 were as follows:
SCHEDULE OF MINIMUM CONTRACTUAL OBLIGATIONS OF LEASES
| | |
Operating | | |
Finance | |
| Fiscal year 2026 (nine months remaining) | |
$ | 125,347 | | |
$ | 2,375 | |
| Fiscal year 2027 | |
| 84,609 | | |
| - | |
| Fiscal year 2028 | |
| 67,734 | | |
| - | |
| Fiscal year 2029 | |
| 67,734 | | |
| - | |
| Thereafter | |
| 45,156 | | |
| - | |
| Total Lease Payments | |
$ | 390,580 | | |
$ | 2,375 | |
| Less Imputed interest | |
| (62,565 | ) | |
| (38 | ) |
| Total lease liability | |
$ | 328,015 | | |
$ | 2,337 | |
|
| SCHEDULE OF OTHER INFORMATION RELATED TO LEASES |
The
following table shows the weighted average remaining lease term and the weighted average discount rate for the Company’s leases
as of the dates indicated:
SCHEDULE OF OTHER INFORMATION RELATED TO LEASES
| | |
January 31, 2026 | | |
October 31, 2025 | |
| | |
Operating Leases | | |
Finance Leases | | |
Operating Leases | | |
Finance Leases | |
| Weighted-average remaining lease term (in years) | |
| 3.25 | | |
| 0.38 | | |
| 3.9 | | |
| 0.54 | |
| Weighted-average discount rate (1) | |
| 10.00 | % | |
| 6.78 | % | |
| 10.00 | % | |
| 6.69 | % |
| |
(1) |
The
discount rate used for the operating lease is based on the Company’s incremental borrowing rate at lease commencement and may
be adjusted if modification to lease terms or lease reassessments occur. The discount rate used for finance leases is based on the
rates implicit in the leases. |
|
| SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES |
The
following table includes other quantitative information for the Company’s leases for the periods indicated:
SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES
| | |
2026 | | |
2025 | |
| | |
Three Months Ended January 31, | |
| | |
2026 | | |
2025 | |
| Cash paid for amounts included in measurement of lease liabilities: | |
| | | |
| | |
| Cash payments for operating leases | |
$ | 41,412 | | |
$ | 40,757 | |
| Cash payments for finance leases | |
$ | 2,775 | | |
$ | 4,478 | |
|