v3.25.1

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Apr. 30, 2025	Oct. 31, 2024
Current assets:
Cash	$ 894,281	$ 244,247
Trade accounts receivable, net of allowance for credit losses of $64,893 at April 30, 2025 and $92,125 at October 31, 2024	9,112,736	10,946,215
Income taxes refundable - current	0	5,000
Other receivables	16,667	60,521
Inventories	19,057,720	18,725,317
Prepaid expenses and other assets	511,500	618,940
Total current assets	29,592,904	30,600,240
Property and equipment, net	6,674,531	6,881,357
Intangible assets, net	490,333	513,956
Other assets, net	2,315,456	2,362,458
Total assets	39,073,224	40,358,011
Current liabilities:
Current installments of long-term debt	59,075	57,184
Accounts payable and accrued expenses	7,257,090	5,178,792
Accrued compensation and payroll taxes	1,823,601	1,567,232
Income taxes payable	30,824	18,522
Total current liabilities	15,674,593	15,143,512
Long-term debt, excluding current installments	2,540,622	2,570,791
Other noncurrent liabilities	1,742,461	1,801,792
Total liabilities	19,957,676	19,516,095
Shareholders' equity:
Preferred stock, no par value, authorized 1,000,000 shares; none issued and outstanding	0	0
Common stock, no par value, authorized 50,000,000 shares; issued and outstanding 8,192,017 shares at April 30, 2025 and 8,220,344 shares at October 31, 2024	15,543,401	15,464,416
Retained earnings	3,572,147	5,377,500
Total shareholders’ equity	19,115,548	20,841,916
Commitments and Contingencies
Total liabilities and shareholders’ equity	39,073,224	40,358,011
Revolving Credit Facility [Member] \| SLR Business Credit [Member]
Current liabilities:
Note payable, revolver - current	$ 6,504,003	$ 8,321,782

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

OPTICAL CABLE CORP 10-Q