Note 11 - Intangible Assets

9 Months Ended

Jul. 31, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note 11 – Intangible assets

Intangible assets consist of the following (in thousands):

	July 31, 2022			October 31, 2021
Amortizable intangible assets:
Non-compete agreement (estimated life 5 years)	$	423		$	423
Accumulated amortization		(322	)		(289	)
		101			134
Customer relationships (estimated lives 7 - 15 years)		6,058			5,058
Accumulated amortization		(2,978	)		(2,711	)
		3,080			2,347
Backlog (estimated life 1 - 2 years)		327			287
Accumulated amortization		(303	)		(287	)
		24			-
Patents (estimated life 10 - 14 years)		368			368
Accumulated amortization		(135	)		(110	)
		233			258
Tradename (estimated life 15 years)		1,700			-
Accumulated amortization		(47	)		-
		1,653			-
Proprietary Technology (estimated life 10 years)		11,100			-
Accumulated amortization		(463	)		-
		10,637			-
Totals	$	15,728		$	2,739
Non-amortizable intangible assets:
Trademarks	$	1,174		$	1,174

Amortization expense for the nine months ended July 31, 2022 and the year ended October 31, 2021 was $850,000 and $442,000, respectively. As of July 31, 2022, the weighted-average amortization period for the amortizable intangible assets is 9.72 years.