Note 10 - Intangible Assets

6 Months Ended

Apr. 30, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note 10 – Intangible assets

Intangible assets consist of the following as of April 30, 2024 and October 31, 2023 (in thousands): 

	April 30, 2024			October 31, 2023
Amortizable intangible assets:
Non-compete agreement (estimated life 5 years)	$	423		$	423
Accumulated amortization		(400	)		(378	)
		23			45
Customer relationships (estimated lives 7 - 15 years)		6,058			6,058
Accumulated amortization		(3,654	)		(3,461	)
		2,404			2,597
Backlog (estimated life 1 - 2 years)		327			327
Accumulated amortization		(327	)		(327	)
		-			-
Patents (estimated life 10 - 14 years)		368			368
Accumulated amortization		(192	)		(176	)
		176			192
Tradename (estimated life 15 years)		1,700			1,700
Accumulated amortization		(247	)		(189	)
		1,453			1,511
Proprietary Technology (estimated life 10 years)		11,100			11,100
Accumulated amortization		(2,405	)		(1,850	)
		8,695			9,250
Totals	$	12,751		$	13,595
Non-amortizable intangible assets:
Trademarks	$	1,174		$	1,174

Amortization expense for the six months ended April 30, 2024 and the year ended October 31, 2023 was $844,000 and $1,701,000, respectively. As of April 30, 2024, the weighted-average amortization period for the amortizable intangible assets is 8.08 years.