Note 11 - Intangible Assets

6 Months Ended

Apr. 30, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note 11 – Intangible assets

Intangible assets consist of the following (in thousands):

	April 30, 2022			October 31, 2021
Amortizable intangible assets:
Non-compete agreement (estimated life 5 years)	$	423		$	423
Accumulated amortization		(311	)		(289	)
		112			134
Customer relationships (estimated lives 7 - 15 years)		6,058			5,058
Accumulated amortization		(2,877	)		(2,711	)
		3,181			2,347
Backlog (estimated life 1 - 2 years)		327			287
Accumulated amortization		(290	)		(287	)
		37			-
Patents (estimated life 10 - 14 years)		368			368
Accumulated amortization		(127	)		(110	)
		241			258
Proprietary Techology (estimated life 10 years)		11,100			-
Accumulated amortization		(215	)		-
		10,885			-
Totals	$	14,456		$	2,739
Non-amortizable intangible assets:
Trademarks	$	2,874		$	1,174

Amortization expense for the six months ended April 30, 2022 and the year ended October 31, 2022 was $423,000 and $442,000, respectively. As of April 30, 2022, the weighted-average amortization period for the amortizable intangible assets is 9.39 years.