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Employee Benefit Plan
2 Months Ended
Dec. 31, 2018
Defined Benefit Plan [Abstract]  
Employee Benefit Plan

13. EMPLOYEE BENEFIT PLAN

 

The Company’s 401(k) Plan is a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Under the 401(k) Plan, participating employees (full-time employees with the company for one year) may defer a portion of their pre-tax earnings, up to the IRS annual contribution limit ($18,500 for calendar year 2018). The Company contributes 3% of employee’s eligible earnings. We recorded contribution expense related to our 401(k) Plan of $35,000 for the two months ended December 31, 2018, $120,000 for the fiscal year ended October 31, 2018, and $55,000 for the fiscal year ended October 31, 2017.