Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v3.10.0.1
INCOME TAXES (Tables)
12 Months Ended
Oct. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
 

Year Ended October 31,

 

2018

 

 2017

Federal:

 

 

 

 

 

Current

$

-  

$

-

Deferred

 

(1,784,000)

 

 

12,534,000

State:

 

 

     

Current

 

-

 

 

-

Deferred

 

(1,206,000)

   

4,351,000

Adjustment to valuation allowance related

    to net deferred tax assets

 

2,990,000

 

 

(16,885,000)

 

$

-  

$

-

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
 

2018

 

 2017

Long-term deferred tax assets:

 

 

 

 

 

Federal and state NOL and tax credit carryforwards

$

19,282,000

 

$

18,961,000

Deferred compensation

 

6,176,000

 

 

3,718,000

Intangibles

 

754,000

   

543,000

Other

 

205,000

 

 

205,000

Subtotal

 

26,417,000

   

23,427,000

Less: valuation allowance

 

(26,417,000)

 

 

(23,427,000)

Deferred tax asset, net

$

-

 

$

-

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
 

Year Ended October 31,

 

2018

 

 2017

Income tax benefit at U.S.

   Federal statutory income tax rate

$

(3,276,000)

 

(23.0)%

 

$

(1,703,000)

 

(34.0)%

State income taxes

 

(1,259,000)

 

(8.84)%

   

(443,000)

 

(8.84)%

Permanent differences

 

14,000

 

0.10%

 

 

(10,000)

 

(0.20)%

Expiring net operating 

   losses, credits and other

 

1,246,000

 

9.12%

   

-

 

-

Rate changes

 

285,000

 

2.00%

 

 

19,041,000

 

380.13%

Change in valuation

   allowance

 

2,990,000

 

20.62%

 

 

(16,885,000)

 

(337.09)%

Income tax provision

$

-

 

0.0%

 

$

-

 

0.0%