Intangible Assets

3 Months Ended

Jan. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 4 – Intangible Assets

The Company’s intangible assets include patents and technology. The cost and accumulated amortization of the intangible assets amounted to $11,795,975 and $524,265 as of January 31, 2024, respectively and $11,795,975 and $327,666 as of October 31, 2023, respectively. Amortizable patents and technology have a useful life of 15.0 years with a weighted average remaining useful life of 14.3 years and 14.6 years as of January 31, 2024, and October 31, 2023; respectively.

The Company recognized amortization expense of $196,599 and none for the three months ended January 31, 2024, and 2023, respectively. Amortization expense is included under general and administrative expenses in the consolidated statement of operations.

Future amortization expense of intangible assets is as follows:

2024	$	589,799
2025		786,398
2026		786,398
2027		786,398
2028		786,398
Thereafter		7,536,319
Total	$	11,271,710