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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jul. 31, 2020
Oct. 31, 2019
Current assets:    
Cash $ 998,662 $ 537,330
Trade accounts receivable, net of allowance for doubtful accounts of $531,308 at July 31, 2020 and $99,562 at October 31, 2019 6,799,541 10,347,597
Income taxes refundable - current 50,618 25,004
Other receivables 60,467 69,727
Inventories 17,129,461 18,095,627
Prepaid expenses and other assets 259,173 304,713
Total current assets 25,297,922 29,379,998
Property and equipment, net 9,064,679 10,010,223
Income taxes refundable - noncurrent 0 25,003
Intangible assets, net 664,561 659,280
Other assets, net 1,885,924 32,430
Total assets 36,913,086 40,106,934
Current liabilities:    
Note payable, SBA PPP loan - current 2,469,042 0
Current installments of long-term debt 308,979 738,955
Note payable to bank, revolver - current 0 5,650,000
Accounts payable and accrued expenses 3,421,487 5,459,352
Accrued compensation and payroll taxes 1,379,677 1,763,338
Income taxes payable 11,843 15,382
Total current liabilities 7,591,028 13,627,027
Note payable, SBA PPP loan - noncurrent 2,512,358 0
Note payable, revolver - noncurrent 4,577,521 0
Long-term debt, excluding current installments 4,932,239 5,169,668
Other noncurrent liabilities 1,674,301 71,339
Total liabilities 21,287,447 18,868,034
Shareholders’ equity:    
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding 0 0
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 7,537,087 shares at July 31, 2020 and 7,458,981 shares at October 31, 2019 13,961,526 13,853,334
Retained earnings 1,664,113 7,385,566
Total shareholders’ equity 15,625,639 21,238,900
Commitments and contingencies
Total liabilities and shareholders’ equity $ 36,913,086 $ 40,106,934