The following table discloses the compensation awarded to, earned by, paid to or accrued to our NEOs for services rendered to us for the fiscal years ended October 31, 2025 and 2024.
| · · · · · · · · · · · · · · · · · · · · · · · Non-Equity · · · Nonqualified · · · · · · · · · |
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| · · · · · · · · · · · · · · · · · · · · · · · Incentive · · · Deferred · · · · · · · · · |
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| · · · · · · · · · · · · · · · Stock · · · Option · · · Plan · · · Compensation · · · All Other · · · · · |
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| · · · Salary · · · Severance · · · Bonus · · · Awards · · · Awards · · · Compensation · · · Earnings · · · Compensation · · · Total · |
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| Name and Principal Position · Year · · ($) · · · ($) · · · ($) · · · ($) (1) · · · ($) (2) · · · ($) · · · ($) · · · ($) (3) · · · ($) · |
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| Robert D. Dawson | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Chief Executive Officer and | 2025 | | | 452,233 | | | | - | | | | - | | | | 169,750 | (7) | | | 165,134 | (7) | | | 475,600 | (14) | | | - | | | | 80,100 | | | | 1,342,917 | |
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| Director (4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| | 2024 | | | 400,000 | | | | - | | | | - | | | | 220,580 | (8) | | | 205,264 | (9) | | | 15,000 | (15) | | | - | | | | 69,231 | | | | 910,075 | |
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| Peter Yin | 2025 | | | 297,500 | | | | - | | | | - | | | | 60,625 | (10) | | | 58,976 | (10) | | | 196,050 | (14) | | | - | | | | 23,616 | | | | 636,767 | |
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| Chief Financial Officer (5) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| | 2024 | | | 285,000 | | | | - | | | | - | | | | 62,858 | (11) | | | 73,309 | (11) | | | 15,000 | (15) | | | - | | | | 21,317 | | | | 457,484 | |
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| Ray Bibisi | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| President and Chief Operating | 2025 | | | 287,500 | | | | - | | | | - | | | | 60,625 | (12) | | | 58,976 | (12) | | | 202,050 | (14) | | | - | | | | 28,018 | | | | 637,169 | |
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| Officer (6) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| | 2024 | | | 242,500 | | | | - | | | | - | | | | 62,858 | (13) | | | 73,309 | (13) | | | 15,000 | (15) | | | - | | | | 28,702 | | | | 422,369 | |
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| (1) | Amounts reported under the Stock Awards column do not reflect compensation actually received by the NEO. Instead, the amounts reported reflect the aggregate grant date fair value of restricted stock granted to the executives, determined in accordance with FASB ASC Topic 718, excluding estimated forfeitures. The assumptions used to calculate the value of stock awards are set forth under Note 1 and Note 8 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended October 31, 2025, filed with the SEC on January 14, 2026. |
| (2) | Amounts reported under the Option Awards column do not reflect compensation actually received by the NEO. Instead, the amounts reported are the grant date fair value of stock options granted to the executives as determined pursuant to FASB ASC Topic 718, excluding estimated forfeitures. The assumptions used to calculate the value of option awards are set forth under Note 1 and Note 8 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended October 31, 2025, filed with the SEC on January 14, 2026. |
| (3) | Represents accrued vacation that was paid to the NEO during the applicable year. |
| (4) | Effective November 1, 2023, Mr. Dawson’s annual salary was $445,000, of which $45,000 was issued through restricted shares on November 1, 2023 in order to conserve cash. Effective January 6, 2025, Mr. Dawson’s annual salary increased to $462,800. |
| (5) | Effective January 6, 2025, Mr. Yin’s annual salary increased to $300,000. |
| (6) | Effective February 1, 2024, Mr. Bibisi’s annual salary increased to $250,000. For the fiscal year ended October 31, 2024, Mr. Bibisi was paid $242,500. On February 29, 2024, Mr. Bibisi was promoted to President, adding to his role as Chief Operating Officer. Effective January 6, 2025, Mr. Bibisi’s annual salary increased to $275,000. Effective May 1, 2025, Mr. Bibisi’s annual salary increased to $300,000. |
| (7) | On January 13, 2025, Mr. Dawson was granted 43,750 shares of restricted stock valued at $169,750 and options to purchase 87,500 shares of common stock at an exercise price of $3.88 (the closing price of the Company’s common stock on the date of grant) valued at $165,134. |
| (8) | On November 1, 2023, Mr. Dawson was granted 15,202 shares of restricted stock valued at $44,998 in lieu of cash. On January 11, 2024, Mr. Dawson was granted 58,333 shares of restricted stock valued at $175,582. |
| (9) | On January 11, 2024, Mr. Dawson was granted options to purchase 116,667 shares of common stock at an exercise price of $3.01 (the closing price of the Company’s common stock on the date of grant) valued at $205,264. |
| (10) | On January 13, 2025, Mr. Yin was granted 15,625 shares of restricted stock valued at $60,625 and options to purchase 31,250 shares of common stock at an exercise price of $3.88 (the closing price of the Company’s common stock on the date of grant) valued at $58,976. |
| (11) | On January 11, 2024, Mr. Yin was granted 20,883 shares of restricted stock valued at $62,858 and options to purchase 41,667 shares of common stock at an exercise price of $3.01 (the closing price of the Company’s common stock on the date of grant) valued at $73,309. |
| (12) | On January 13, 2025, Mr. Bibisi was granted 15,625 shares of restricted stock valued at $60,625 and options to purchase 31,250 shares of common stock at an exercise price of $3.88 (the closing price of the Company’s common stock on the date of grant) valued at $58,976. |
| (13) | On January 11, 2024, Mr. Bibisi was granted 20,883 shares of restricted stock valued at $62,858 and options to purchase 41,667 shares of common stock at an exercise price of $3.01 (the closing price of the Company’s common stock on the date of grant) valued at $73,309. |
| (14) | On January 8, 2025, the Board adopted an incentive compensation plan for officers (including the named executive officers) and senior managers of the Company pursuant to which officers and managers were entitled to cash bonuses based upon (i) the Company’s achievement of specified corporate goals and (ii) the satisfaction of subjective personal performance and contribution goals established for that participant. The minimum, target and maximum cash bonus target for Mr. Dawson was 0%, 75% and 112.5% and for Mr. Yin and Mr. Bibisi was 0%, 50% and 75% of their respective annual base salaries. The Board determined that each of these officers achieved at varying amounts their respective subjective personal performance and contribution goals, and therefore earned a bonus based on their individual achievement percentages of these goals for the fiscal year ended October 31, 2025. |
| (15) | On April 16, 2024, the Board adopted an incentive compensation plan for officers (including the named executive officers) and senior managers of the Company pursuant to which officers and managers were entitled to cash bonuses based upon (i) the Company’s achievement of specified corporate goals and (ii) the satisfaction of subjective personal performance and contribution goals established for that participant. The personal bonus target for Mr. Dawson was 75% and for Mr. Yin and Mr. Bibisi was 50% of their respective annual base salaries. The Board determined that each of these officers achieved a portion of their respective subjective personal performance and contribution goals, and therefore earned a bonus based on the achievement of these goals for the fiscal year ended October 31, 2024. |
