| ACCOUNTS RECEIVABLE, NET |
| 4. |
ACCOUNTS RECEIVABLE, NET |
Accounts receivable as of
April 30, 2026 and October 31, 2025 are as follows:
| | |
April 30,
2026 | | |
October 31,
2025 | |
| Accounts receivable | |
$ | 23,739,661 | | |
$ | 13,978,454 | |
| Less: Allowance for credit losses | |
| (2,469,626 | ) | |
| (1,595,831 | ) |
| Totals | |
$ | 21,270,035 | | |
$ | 12,382,623 | |
Accounts receivable by aging
bucket are as follows:
| | |
Balance
as of
April 30,
2026 | | |
Subsequent
collection | | |
% of
Subsequent
collection | |
| Less than half year | |
$ | 14,017,391 | | |
$ | 1,063,781 | | |
| 7.6 | |
| half year to 1 year | |
| 8,220,210 | | |
| 2,193,400 | | |
| 26.7 | |
| 1 year to 1.5 years | |
| 697,611 | | |
| 124,163 | | |
| 17.8 | |
| 1.5 years to 2 years | |
| 636,752 | | |
| 636,752 | | |
| 100.0 | |
| 2 years to 2.5 years | |
| — | | |
| — | | |
| — | |
| 2.5 year to 3 years | |
| — | | |
| — | | |
| — | |
| over 3 years | |
| 167,697 | | |
| — | | |
| — | |
| Total gross accounts receivable | |
$ | 23,739,661 | | |
| 4,018,096 | | |
| 16.9 | |
| Less: Allowance for accounts receivable | |
| (2,469,626 | ) | |
| | | |
| | |
| Accounts receivable, net | |
$ | 21,270,035 | | |
| | | |
| | |
The following table sets
forth the movement of allowance for accounts receivable:
| | |
April 30,
2025 | | |
October 31,
2025 | |
| Balance, at beginning of the period | |
$ | 1,595,831 | | |
$ | 741,753 | |
| Addition (Reversal) | |
| 791,245 | | |
| 842,339 | |
| Exchange rate difference | |
| 82,550 | | |
| 11,739 | |
| Balance, at end of the period | |
$ | 2,469,626 | | |
$ | 1,595,831 | |
|