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RELATED PARTY TRANSACTIONS:
12 Months Ended
Oct. 31, 2023
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS:

NOTE 10 - RELATED PARTY TRANSACTIONS:

 

The Company has engaged its 40% partner in Generation Coffee Company, LLC as an outside contractor (the “Partner”). Included in contract labor expense, which is a component of cost of sales, are expenses incurred from the Partner during the years ended October 31, 2023 and 2022 of $210,961 and $285,696, respectively.

 

In January 2005, the Company established the “Coffee Holding Co., Inc. Non-Qualified Deferred Compensation Plan.” Currently, there is only one participant in the plan: Andrew Gordon, the CEO. The deferred compensation payable represents the liability due to this employee of the Company upon his retirement. The deferred compensation liability at October 31, 2023 and 2022 was $120,523 and $243,238, respectively. Deferred compensation expenses included in officers’ salaries were $0 during the years ended October 31, 2023 and 2022, respectively as no amounts were contributed to this plan during the years ended October 31, 2023 and 2022.