Intangible Assets |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | Note 4 – Intangible Assets
The Company’s intangible assets include patents and technology that were acquired pursuant to the GoFire Asset Purchase Agreement (“GoFire APA”). The cost and accumulated amortization of the intangible assets amounted to $11,795,975 and $1,507,268 as of April 30, 2025, respectively and $11,795,975 and $1,114,064 as of October 31, 2024, respectively. Amortizable patents and technology have a useful life of 15.0 years with a weighted average remaining useful life of 12.9 years and 13.7 years as of April 30, 2025 and October 31, 2024, respectively.
The Company recognized amortization expenses of $393,204 and $393,199 for the six months ended April 30, 2025, and 2024, respectively. Amortization expense is included under general and administrative expenses in the unaudited interim consolidated statements of operations.
Future amortization expense of intangible assets is as follows:
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