• Filing Date: 2020-06-12
  • Form Type: 10-Q
  • Description: Quarterly report
v3.20.1
GOODWILL
6 Months Ended
Apr. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL

NOTE 9 – GOODWILL

Goodwill represents the excess, at the date of acquisition, of the purchase price of the business acquired over the fair value of the net tangible and intangible assets acquired. On April 30, 2020, the Company elected to perform a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. Based on this assessment, management determined it is not more likely than not that the fair value of the reporting unit is less than its carrying amount.

 

The following is a summary of the Company’s goodwill balance as at April 30, 2020 and October 31, 2019:

 

 Goodwill – April 30, 2020 and October 31, 2019   $2,058,031