DEBT (Tables)

9 Months Ended

Jul. 31, 2022

DEBT [Abstract]

Long-term Debt

The tables below provide information on our long-term debt.

As of July 31, 2022	Xiamen Project Loans			Xiamen Working Capital Loans			Hefei Equipment Loan		Finance Leases			Total
Principal due:
Next 12 months	$	-		$	3,798		$	-	$	6,929		$	10,727
Months 13 – 24	$	3,812		$	-		$	-	$	6,585		$	10,397
Months 25 – 36		9,390			-			-		19,622			29,012
Months 37 – 48		7,180			-			-		-			7,180
Long-term debt	$	20,382		$	-		$	-	$	26,207		$	46,589
Total debt	$	20,382		$	3,798		$	-	$	33,136		$	57,316
Interest rate at balance sheet date		4.60	%		4.46	%		N/A			(3)
Basis spread on interest rates		0.00			76.00			N/A		N/A
Interest rate reset	Quarterly			Monthly/Annually			N/A			N/A
Maturity date	December 2025			July 2023			Paid July 2022				(3)
Periodic payment amount	Varies as loans mature(1)(2)			Increases as loans mature			N/A				(3)
Periodic payment frequency	Semiannual, on individual loans			Semiannual, on individual loans			N/A		Monthly
Loan collateral (carrying amount)	$	79,200			N/A			N/A	$	38,694	(4)

⁽¹⁾ During the three-month period ended July 31, 2022, we repaid 26.0 million RMB (approximately $3.9 million) that was due to be paid in December 2023, and 3.0 million RMB (approximately $0.4 million) that was due to be paid in June 2024.

⁽²⁾ In September 2022, we repaid the entire $3.8 million shown in the table above as due to be paid in months 13-24, and we repaid approximately $2.3 million of the amount shown in the table above as due to be paid in months 25-36.

⁽³⁾ See Note 7 for periodic payment amounts.

⁽⁴⁾ Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.

As of October 31, 2021	Xiamen Project Loans			Xiamen Working Capital Loans			Hefei Equipment Loan			Finance Leases			Total
Principal due:
Next 12 months	$	2,068		$	8,197		$	4,694		$	7,289		$	22,248
Months 13 – 24	$	10,071		$	4,005		$	4,693		$	6,512		$	25,281
Months 25 – 36		10,278			-			6,257			6,610			23,145
Months 37 – 48		9,902			-			5,585			17,961			33,448
Months 49 – 60		7,572			-			-			-			7,572
Long-term debt	$	37,823		$	4,005		$	16,535		$	31,083		$	89,446
Total	$	39,891		$	12,202		$	21,229		$	38,372		$	111,694
Interest rate at balance sheet date		4.65	%		4.53% - 4.61	%		4.20	%			(2)
Basis spread on interest rates		0.00			67.75 - 76.00			(45.00	)		N/A
Interest rate reset		Quarterly			Monthly/Annually			Annually			N/A
Maturity date	December 2025			July 2023			September 2025					(2)
Periodic payment amount	Varies as loans mature			Increases as loans mature			Varies(1)					(2)
Periodic payment frequency	Semiannual, on individual loans			Semiannual, on individual loans			Semiannual(1)			Monthly
Loan collateral (carrying amount)	$	90,096			N/A		$	86,487		$	40,826	(3)

⁽¹⁾ First five semiannual loan repayments were each to be for 7.5 percent of the approved 200 million RMB loan principal; last five installments were each to be for 12.5 percent of the approved loan principal. We repaid our entire outstanding balance on this loan in July 2022, and did not extend our credit agreement with the lender. The collateral associated with this loan has been released.

⁽²⁾ See Note 7 for interest rates on lease liabilities, maturity dates, and periodic payment amounts.

⁽³⁾ Represents the carrying amount at the balance sheet date of the related ROU assets, in which the lessors have secured interests.