| GOODWILL AND IDENTIFIED INTANGIBLE ASSETS |
NOTE
12 – GOODWILL AND IDENTIFIED INTANGIBLE ASSETS
Intangibles
consisted of the following as of:
SCHEDULE OF INTANGIBLE ASSETS
| | |
Average | | |
April 30, 2025 | | |
October 31, 2024 | |
| Finite-lived | |
Life | | |
Gross | | |
Accumulated | | |
| | |
Gross | | |
Accumulated | | |
| |
intangible assets | |
(Years) | | |
Asset | | |
Amortization | | |
Net | | |
Asset | | |
Amortization | | |
Net | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Customer Relationships | |
| 10 | | |
$ | 919,503 | | |
$ | (919,503 | ) | |
$ | - | | |
$ | 919,503 | | |
$ | (919,503 | ) | |
$ | - | |
| Non-Compete Agreements | |
| 4 | | |
| 423,548 | | |
| (227,717 | ) | |
| 195,831 | | |
| 423,548 | | |
| (198,911 | ) | |
| 224,637 | |
| Value of Technology | |
| 7 | | |
| 2,947,155 | | |
| (215,958 | ) | |
| 2,731,197 | | |
| 2,947,155 | | |
| - | | |
| 2,947,155 | |
| Patents | |
| 10 | | |
| 832,339 | | |
| (329,588 | ) | |
| 502,751 | | |
| 820,555 | | |
| (305,313 | ) | |
| 515,242 | |
| Total intangible assets | |
| | | |
$ | 5,122,545 | | |
$ | (1,692,766 | ) | |
$ | 3,429,779 | | |
$ | 5,110,761 | | |
$ | (1,423,727 | ) | |
$ | 3,687,034 | |
Amortization
of intangible assets for the three months ended April 30, 2025 and 2024 was $116,575
and $16,623,
respectively, and for the six months ended April 30, 2025 and 2024 was $244,334 and $33,869, respectively.
Goodwill
consisted of the following as of:
SCHEDULE OF GOODWILL
| | |
April 30, | | |
October 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| *Coda Octopus Engineering, Inc. | |
$ | 2,038,669 | | |
$ | 2,038,669 | |
| Coda Octopus Products, Ltd | |
| 62,315 | | |
| 62,315 | |
| Coda Octopus Martech, Ltd | |
| 1,281,124 | | |
| 1,281,124 | |
| Precision Acoustics Ltd | |
| 257,226 | | |
| 257,226 | |
| | |
| | | |
| | |
| Total Goodwill | |
$ | 3,639,334 | | |
$ | 3,639,334 | |
| * | This business unit changed its name from Coda Octopus Colmek, Inc. to Coda
Octopus Engineering, Inc. with effect from March 17, 2025. |
|