DEBT (Tables)

6 Months Ended

Apr. 30, 2023

Due to the Q2 FY23 payoff of the Xiamen Project loans, as of April 30, 2023, the Current portion of long-term debt and the Long-term debt balances were comprised of finance leases as described below:

As of April 30, 2023	Xiamen Project Loans			Finance Leases			Total
Principal due:
Next 12 months	$	-		$	7,017		$	7,017
Months 13 – 24	$	-		$	21,290		$	21,290
Months 25 – 36		-			12			12
Months 37 – 48		-			12			12
Months 49 – 60		-			8			8
Long-term debt		-			21,322			21,322
Total debt	$	-		$	28,339		$	28,339

Interest rate at balance sheet date		N/A	%		N/A
Basis spread on interest rates		0.00			N/A
Interest rate reset	Quarterly				N/A
Maturity date	December 2025				N/A
Periodic payment amount	Varies as loans mature⁽¹⁾			Varies as leases mature
Periodic payment frequency	Semiannual, on individual loans			Monthly
Loan collateral (carrying amount)	$	N/A		$	36,611	⁽²⁾

⁽¹⁾

During the three-month period ended April 30, 2023, we repaid the entire balance of 26.4 million RMB (approximately $3.9 million) remaining on the loan, of which, 2.0 million RMB was due to be paid in June 2025 and 24.4 million RMB was due to be paid in December 2025.

⁽²⁾

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

The table below provides information on our long-term debt as of October 31, 2022.

As of October 31, 2022	Xiamen Project Loans			Xiamen Working Capital Loans			Finance Leases			Total
Principal due:
Next 12 months	$	-		$	3,512		$	6,512		$	10,024
Months 13 – 24	$	-		$	-		$	6,610		$	6,610
Months 25 – 36		1,098			-			17,961			19,059
Months 37 – 48		6,641			-			-			6,641
Long-term debt	$	7,739		$	-		$	24,571		$	32,310

Interest rate at balance sheet date		4.30% - 4.45	%		4.46	%		N/A
Basis spread on interest rates		0.00			76			N/A
Interest rate reset	Quarterly			Monthly/Annually				N/A
Maturity date	December 2025			July 2023				N/A
Periodic payment amount	Varies as loans mature ⁽¹⁾			Increases as loans mature			Varies as leases mature
Periodic payment frequency	Semiannual, on individual loans			Semiannual, on individual loans			Monthly
Loan collateral (carrying amount)	$	70,705			N/A		$	37,976	⁽²⁾

⁽¹⁾

During the three-month period ended October 31, 2022, we repaid 81.0 million RMB (approximately $11.5 million) that had contractual maturity dates ranging from December 2023 through June 2025.

⁽²⁾

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