Caravelle International (HTCO) 6-K31 Oct 24Report of Foreign Private IssuerFinancial data

Company Profile

Document And Entity Information

Document And Entity Information	6 Months Ended
Document And Entity Information	Apr. 30, 2024
Document Information Line Items
Entity Registrant Name	CARAVELLE INTERNATIONAL GROUP
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001928948
Document Period End Date	Apr. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-41573

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($)	Apr. 30, 2024	Oct. 31, 2023
Current Assets:
Cash and cash equivalents	$ 3,366,808	$ 2,219,973
Accounts receivable	4,033,994	983,784
Prepayments and other current assets	3,714,881	3,561,741
Total Current Assets	11,116,666	6,769,681
Property and equipment, net	551,974	561,891
Prepayment and other non-current assets	1,613,958	894,561
Operating lease right of use asset, net	160,578	204,750
Total Assets	13,443,176	8,430,883
Current Liabilities:
Current maturity of long-term bank loan	955,904	937,457
Accounts payable	9,210	261,144
Advance from customers	3,379,862	3,463,413
Accrued expenses and other liabilities	5,245,566	5,401,427
Operating lease liability-current	92,636	90,585
Convertible notes	1,573,735
Taxes payable	60,410	56,161
Total Current Liabilities	19,056,246	14,108,759
Long-term bank loans	998,195	1,477,221
Operating lease liability-noncurrent	63,249	109,492
Deferred tax liability	107	217
Total Liabilities	20,117,797	15,695,689
COMMITMENTS AND CONTINGENCIES
Total Deficit:
Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 54,289,579 and 52,774,579 shares issued and outstanding as of April 30, 2024 and October 31, 2023, respectively	5,430	5,278
Additional paid-in capital	376,858	(457,183)
Accumulated deficit	(5,726,991)	(4,955,326)
Total Shareholders’ Deficit	(5,344,703)	(5,407,231)
Non-controlling interest	(1,329,918)	(1,857,575)
Total Deficit	(6,674,621)	(7,264,806)
Total Liabilities and Deficit	13,443,176	8,430,883
Related Party
Current Assets:
Due from related parties	983	4,183
Current Liabilities:
Due to related parties	$ 7,738,923	$ 3,898,572

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Statement of Financial Position [Abstract]
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	500,000,000	500,000,000	500,000,000
Ordinary shares, share issued	54,289,579	52,774,579	52,774,579
Ordinary shares, share outstanding	54,289,579	52,774,579	50,000,000

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss - USD ($)		6 Months Ended
		Apr. 30, 2024	Apr. 30, 2023
Revenue
Total revenue		$ 34,855,545	$ 49,545,411
Cost of revenues		32,425,944	54,240,270
Gross profit (loss)		2,429,601	(4,694,859)
Operating expenses:
General and administrative expenses		2,285,953	2,103,319
Total operating expenses		2,285,953	2,103,319
Income (loss) from operations		143,648	(6,798,178)
Other income (expense)
Interest income		1,733	954
Interest expense		(49,477)	(57,038)
Change in fair value of convertible notes		(320,218)
Other expense, net		(15,555)	(194,229)
Total other expense, net		(383,517)	(250,313)
Loss before income taxes		(239,869)	(7,048,491)
Provision for income taxes		4,139	2,542
Net loss		(244,008)	(7,051,033)
Less: Net income (loss) attributable to non-controlling interests		527,657	(2,732,234)
Net loss attributable to the Company		(771,665)	(4,318,799)
Comprehensive loss		(244,008)	(7,051,033)
Less: Comprehensive income (loss)attributable to non-controlling interests		527,657	(2,732,234)
Comprehensive loss attributable to the Company		$ (771,665)	$ (4,318,799)
Loss per share attributable to the Company - Basic (in Dollars per share)	[1]	$ (0.01)	$ (0.08)
Loss per share attributable to the Company - diluted (in Dollars per share)	[1]	$ (0.01)	$ (0.08)
Weighted Average Shares Outstanding - Basic (in Shares)	[1]	52,842,656	52,068,190
Weighted Average Shares Outstanding - diluted (in Shares)	[1]	52,842,656	52,068,190
Ocean freight revenue
Revenue
Total revenue		$ 33,211,799	$ 49,330,293
Vessel service revenue
Revenue
Total revenue		$ 1,643,746	$ 215,118

[1] Shares and per share data are presented on a retroactive basis to give effect to the reverse recapitalization

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Changes In Equity (Deficit) - USD ($)		Ordinary Shares		Additional Paid in Capital	Retained Earnings (Accumulated Deficits)	Non-controlling interest	Total
Balance at Oct. 31, 2022		$ 5,000	[1]	$ 152,550	$ 4,376,698	$ 5,490,105	$ 10,024,353
Balance (in Shares) at Oct. 31, 2022	[1]	50,000,000
Effect of reverse merger		$ 272	[1]	(1,109,727)			(1,109,455)
Effect of reverse merger (in Shares)	[1]	2,719,579
Conversion of promissory note settlement upon the reverse merger		$ 6	[1]	499,994			500,000
Conversion of promissory note settlement upon the reverse merger (in Shares)	[1]	55,000
Net income(loss) for the period					(4,318,799)	(2,732,234)	(7,051,033)
Dividends to shareholders						(902,000)	(902,000)
Balance at Apr. 30, 2023		$ 5,278	[1]	(457,183)	57,899	1,855,871	$ 1,461,865
Balance (in Shares) at Apr. 30, 2023		52,774,579	[1]				50,000,000
Balance at Oct. 31, 2023		$ 5,278	[1]	(457,183)	(4,955,326)	(1,857,575)	$ (7,264,806)
Balance (in Shares) at Oct. 31, 2023		52,774,579	[1]				52,774,579
Issuance of shares for services		$ 150	[1]	825,575			$ 825,725
Issuance of shares for services (in Shares)	[1]	1,500,000
Ordinary shares issued for convertible notes		$ 2	[1]	8,466			8,468
Ordinary shares issued for convertible notes (in Shares)	[1]	15,000
Net income(loss) for the period					(771,665)	527,657	(244,008)
Balance at Apr. 30, 2024		$ 5,430	[1]	$ 376,858	$ (5,726,991)	$ (1,329,918)	$ (6,674,621)
Balance (in Shares) at Apr. 30, 2024		54,289,579	[1]				54,289,579

[1] Shares and per share data are presented on a retroactive basis to give effect to the reverse recapitalization.

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash flows from operating activities:
Net loss	$ (244,008)	$ (7,051,033)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	9,917	21,098
Deferred tax benefit	(110)	(1,076)
Amortization of operating lease right-of-use assets	44,172	10,533
Share-based compensation	81,546
Change in fair value of convertible notes	320,218
Changes in operating assets and liabilities:
Accounts receivable	(3,050,210)	3,295,524
Prepayments and other assets	(128,358)	5,841,283
Payable to related parties	(2,467)	1,236,516
Accounts payable	(251,934)	(367,537)
Advance from customers	(83,551)	(5,958,370)
Accrued expenses and other liabilities	(155,862)	(6,890,417)
Taxes payable	4,249	(7,390)
Operating leases liabilities	(44,192)	(10,534)
Net cash used in operating activities	(3,500,590)	(9,881,403)
Cash flows from financing activities:
Net cash acquired in the reverse recapitalization		23
Repayment to related parties	(2,010,521)	(12,330,157)
Loans from related parties	5,856,540	11,388,945
Repayment of long-term bank loans	(460,579)	(243,086)
Proceeds from convertible notes	1,324,910
Repayment of convertible notes	(62,925)
Dividends to shareholders		(902,000)
Net cash provided by (used in) financing activities	4,647,425	(2,086,275)
Net increase (decrease) in cash and cash equivalents	1,146,835	(11,967,678)
Cash and cash equivalents, beginning of period	2,219,973	21,572,336
Cash and cash equivalents, end of period	3,366,808	9,604,658
Supplemental disclosure information:
Cash paid for income tax	4,139	2,542
Cash paid for interest	303,120	57,038
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
Issuance of shares for prepayments and other non-current assets	744,179
Ordinary shares issued for convertible notes	8,468
Right-of-assets obtained in exchange for operating lease obligations		199,572
Conversion of rights to ordinary shares upon the reverse merger recapitalization		$ 500,000

Organization and Business Descr

Organization and Business Description	6 Months Ended
Organization and Business Description	Apr. 30, 2024
Organization and Business Description [Abstract]
ORGANIZATION AND BUSINESS DESCRIPTION	Note 1 — ORGANIZATION AND BUSINESS DESCRIPTION Caravelle International Group (the “Company”) and its subsidiaries (together the “Group”) is an international operator of ocean transportation service. It is engaged in the seaborne transportation service under voyage contracts as well as vessels service for and on behalf of ship owners. The Company, a Cayman Islands exempted company, was formed on February 28, 2022 to serve as a holding company. Reverse Recapitalization On April 5, 2022, Pacifico Acquisition Corp. (“Pacifico”) entered into that certain Agreement and Plan of Merger which was amended by the Amended and Restated Agreement and Plan of Merger (the “SPAC Transaction”) dated August 15, 2022 (the “Merger Agreement”), by and among Caravelle Group Co., Ltd (“Caravelle Group”), Pacifico International Group, a Cayman Islands exempted company and a direct wholly-owned subsidiary of the Company (“Merger Sub 1”), Pacifico Merger Sub 2 Inc., a Delaware corporation and a direct wholly-owned subsidiary of the Company (“Merger Sub 2” and, together with the Company and Merger Sub 1, each, individually, an “Acquisition Entity” and, collectively, the “Acquisition Entities”), and Caravelle Group. On December 16, 2022, the SPAC Transaction was completed and the Company became a publicly traded holding company listed on the Nasdaq Capital Market and Caravelle Group became a wholly owned subsidiary of the Company. The SPAC Transaction was completed through a two-step process as follows: (Step 1) Merger Sub 1 merged with and into Caravelle Group (the “Initial Merger”), and Caravelle Group was the surviving corporation of the Initial Merger and a direct wholly owned subsidiary of the Company, and (Step 2) following confirmation of the effectiveness of the Initial Merger, Merger Sub 2 merged with and into Pacifico (the “SPAC Merger” and together with the Initial Merger, the “Merger”), and Pacifico was the surviving corporation of the SPAC Merger and a direct wholly owned subsidiary of the Company (collectively, the “SPAC Transaction” or “reverse merger”). As a result of the SPAC Transaction, among other things, (i) all outstanding ordinary shares of Caravelle Group was cancelled in exchange for 50,000,000 ordinary shares of the Company, (ii) each outstanding unit of Pacifico (the “Pacifico Unit”) was automatically detached, (iii) each unredeemed outstanding share of common stock of Pacifico (the “Pacifico Common Stock”) was cancelled in exchange for the right to receive one (1) the Company’s Ordinary Share, (iv) every ten (10) outstanding rights of Pacifico (the “Pacifico Rights”) was contributed in exchange for one (1) of the Company’s Ordinary Shares, and were cancelled and cease to exist, and (v) each unit purchase option of Pacifico (the “Pacifico UPO”) will automatically be cancelled and cease to exist in exchange for one (1) unit purchase option of the Company’s (the “UPO”). The Company was determined to be the accounting acquirer given that the original shareholders of Caravelle Group effectively controlled the combined entity after the Transaction. Pacifico is treated as the acquired company for financial reporting purposes. This determination is primarily based on the fact that subsequent to the SPAC Transaction, the Company’s shareholders have a majority of the voting power of the combined company, the Company comprised all of the ongoing operations of the combined entity, the Company comprised a majority of the governing body of the combined company, and the Company’s senior management comprised all of the senior management of the combined company. Accordingly, for accounting purposes, the SPAC Transaction is accounted for as a reverse recapitalization, which is equivalent to the issuance of shares by the Company for the net assets of Pacifico, accompanied by a recapitalization. The Company is determined as the predecessor, and the historical financial statements of Caravelle became the Company’s historical financial statements, with retrospective adjustments to give effect of the reverse recapitalization. The share and per share data is retrospectively restated to give effect to the reverse recapitalization. Net assets of Pacifico were stated at historical costs. No goodwill or other intangible assets were recorded. Operations prior to the SPAC Transaction were those of the Caravelle Group. As of the date of the report, the Company’s subsidiaries are as follows: Subsidiaries Date of Acquisition Jurisdiction of Percentage of Principal Caravelle Group Co., Ltd (“Caravelle Group”) April 1, 2021 Cayman Islands 100% Investment Holding SGEX Group Co., Ltd (“SGEX”) April 19, 2021 British Virgin Islands (“BVI”) 100% Investment Holding Pacifico Acquisition Corp.* December 16, 2022 the U.S. 100% Investment Holding Topsheen Shipping Group Corporation (“Topsheen Samoa”) July 23, 2012 Samoa 90% Transportation service Topsheen Shipping Singapore Pte. Ltd (“Topsheen Shipping”) October 30, 2015 Singapore 61% owned subsidiary of Topsheen Samoa Transportation service Topsheen Bulk Singapore Pte. Ltd (“Topsheen Bulk”) March 16, 2019 Singapore 100% owned subsidiary of Topsheen Shipping Transportation service Singapore Garden Technology Pte. Ltd. (“Garden Technology”) December 6, 2020 Singapore 100% Transportation and heating business * Pacifico Acquisition Corp was dissolved on September 26, 2024. Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended April 30, 2024 and 2023 are not necessarily indicative of the results that may be expected for the full year. The information included in this interim report should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the financial statements and notes thereto included in the Group’s annual financial statements for the fiscal year ended October 31, 2023 filed with the SEC on September 9, 2024. The unaudited condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. Non-controlling interests Non-controlling interest represents the portion of the net assets of subsidiaries attributable to interests that are not owned or controlled by the Company. The non-controlling interest is presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Group. Non-controlling interest’s operating results are presented on the face of the consolidated statements of operations and comprehensive income (loss) as an allocation of the total income for the year between non-controlling shareholders and the shareholders of the Group. As of April 30, 2024 and October 31, 2023, non-controlling interests represent non-controlling shareholders’ proportionate share of equity interests in Topsheen Samoa and Topsheen Shipping.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Apr. 30, 2024
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Uses of estimates In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant accounting estimates required to be made by management include, but are not limited to revenue recognition, the allowance for credit losses of accounts receivable, useful lives and assessment for impairment of long-lived assets, fair value of the convertible notes and warrants well as share-based compensation. Actual results could differ from those estimates. Accounts Receivable Accounts receivable is recognized and carried at original invoiced amount less an estimated allowance for credit losses. Most accounts receivable is collected within one month. On November 1, 2022, the Group adopted ASU 2016-13, “Financial Instruments — Credit Losses (Accounting Standards Codification (“ASC” Topic 326): Measurement on Credit Losses on Financial Instruments”, including certain subsequent amendments, transitional guidance and other interpretive guidance within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02 and ASU 2020-03 (collectively, including ASU 2016-13, “ASC 326”). ASC 326 introduces an approach based on expected losses to estimate the allowance for doubtful accounts, which replaces the previous incurred loss impairment model. The adoption of this guidance did not have a material impact on the Group’s consolidated financial statements. The Group’s estimation of allowance for credit losses considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible. The Group evaluates its accounts receivable for expected credit losses on a regular basis. The Group maintains an estimated allowance for credit losses to reduce its accounts receivable to the amount that it believes will be collected. The Group considers factors in assessing the collectability of its receivables, such as the age of the amounts due, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts. The Group adjusts the allowance percentage periodically when there are significant differences between estimated bad debts and actual bad debts. If there is strong evidence indicating that the accounts receivable is likely to be unrecoverable, the Group also makes specific allowance in the period in which a loss is determined to be probable. No allowance was recorded as of April 30, 2024 and October 31, 2023, respectively. Fair value of financial instruments ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data. ● Level 3 — inputs to the valuation methodology are unobservable. The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, prepayments and other current assets, accounts payables, balances with related parties, and other current liabilities, approximate their fair values because of the short-term maturity of these instruments. The carrying amounts of long-term loans approximate fair values as the related interest rates currently offered by financial institutions for similar debt instruments of comparable maturities. Assets and Liabilities Measured or Disclosed at Fair Value on a recurring basis The following tables represent the fair value hierarchy of the Group’s financial assets and liabilities measured at fair value on a recurring basis as of April 30, 2024 and October 31, 2023: As of April 30, 2024 Fair Value Measurement at the Reporting Date using Quoted Significant Significant Total Financial liabilities: Contingent consideration – earn-out liability(i) $ - $ - $ - $ - Convertible notes (ii) - - 1,573,735 1,573,735 Total $ - $ - $ 1,573,735 $ 1,573,735 As of October 31, 2023 Fair Value Measurement at the Reporting Date using Quoted Significant Significant Total Financial liabilities: Contingent consideration – earn-out liability (i) $ - $ - $ - $ - Total $ - $ - $ - $ - (i) Contingent consideration – earn-out liability Pursuant to the Merger Agreement, eligible shareholders of Caravelle may receive up to 35,000,000 ordinary shares of the Group (the “Earnout Shares”) if the Group’s consolidated revenue exceed certain targets. Upon the closing of the SPAC Transaction, the Group recorded the fair value of the contingent consideration, which is resulted from earn-out liability and classified as level 3 in the fair value hierarchy. The Group records the changes in fair value in earnings. Since the Group determined that the probabilities of achieving the revenue earnout targets were nil nil (ii) The Group elected the fair value option to account for its convertible notes (excluding freestanding warrants if applicable, refers to Note 8 for detail information). The Group engaged an independent valuation firm to perform the valuation. The fair value of the convertible notes is calculated using the binomial tree model. The convertible notes are classified as level 3 instruments as the valuation was determined based on unobservable inputs which are supported by little or no market activity and reflect the Group’s own assumptions in measuring fair value. Significant estimates used in developing the fair value of the convertible loans include time to maturity, risk-free interest rate, straight debt discount rate, probability to convert and expected timing of conversion. As the inputs used in developing the fair value for level 3 instruments are unobservable, and require significant management estimate, a change in these inputs could result in a significant change in the fair value measurement. The following is a reconciliation of the beginning and ending balances for all convertible notes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of April 30, 2024: April 30, 2024 Opening balance $ - Issuance of convertible notes 1,332,000 Change in fair value of convertible notes 320,218 Cash repaid (70,015 ) Ordinary shares issued for convertible notes (8,468 ) Total $ 1,573,735 Revenue recognition The Group is an international operator of comprehensive ocean transportation service. On November 1, 2019, the Group has adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified ASC 606 using the modified retrospective approach. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Group applies the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The Group primarily derives its freight revenue from voyage contracts and provides vessel service. In accordance with ASC 606, the Group evaluates whether our businesses themselves promise to transfer services to the customer (as the principal) or to arrange for services to be provided by another party (as the agent) using a control model. Based on the evaluation of the control model, the Group determined that the Group is the principal to the transaction for voyage contracts and the related revenue from voyage contracts is recognized on a gross basis based on the transfer of control to the customer. The Group’s vessel service contracts engage in certain transactions wherein the Group act as an agent of ship owners. Revenue from these transactions is recorded on a net basis. Net revenue includes billings to customers less third-party charges, including transportation or handling costs, fees, commissions and taxes and duties. Revenue from voyage contracts Under a voyage contract, the Group is engaged to provide the transportation of cargo between specific ports in return for ocean freight payment of an agreed upon freight per ton of cargo. The Group’s voyage contracts generally do not contain cancelable provisions. A voyage was deemed to commence when a vessel was available for loading and was deemed to end upon the completion of the discharge of the current cargo. For the voyage contracts, the customer simultaneously receives and consumes the benefits provided by the Group performance over the voyage period because of the continuous service to the customer. Customers receive the benefit of our services as the goods are transported from one location to another. If the Group was unable to complete delivery to the final location, another entity would not need to reperform the transportation service already performed. As control transfers over time, the Group recognizes revenue ratably from port of loading to when the charterer’s cargo is discharged based on the relative transit time completed in each reporting period. For the unfinished voyages, the Group estimates the percentage of completion based on voyage days completed and total estimated voyage days. Estimated losses on voyages are provided for in full at the time such losses become evident. Voyage expense and other ocean transportation operating costs are charged to operating costs as incurred. Revenue from vessel services The Group contracts with various customers to carry out vessel services for vessels as agents for and on behalf of ship owners. These services include lease of vessels on behalf of the ship owners and commercial management. As the operator of the vessels, the Group undertakes to use its best endeavors to provide the agreed vessel services as agents for and on behalf of the ship owners and to protect and promote the interest of the ship owners in all matters relating to the provision of services. Most of the vessel service agreements span within one year and are typically billed on a monthly basis. The Vessel service revenue is recorded on a net basis. Net revenue includes billings to customers, net of voyage operating expenses incurred. The Group transfers control of the service to the customer and satisfies its performance obligation over the term of the contract, and therefore recognized revenue over the term of the contract. Contract balances Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent amounts invoiced and revenues recognized prior to invoicing when the Group has satisfied the Group’s performance obligation and has the unconditional rights to payment. The balances of accounts receivable were $4,033,994 and $983,784 as of April 30, 2024 and October 31, 2023, respectively. Contract liabilities are reflected as advance from customers on the consolidated balance sheet. Contract liabilities relate to payments received in advance of completion of performance obligations under a contract. Contract liabilities are recognized as revenue upon the fulfillment of performance obligations. As of April 30, 2024 and October 31, 2023, the advances from customer amounted to $3,379,862 and $3,463,413, respectively. The Group expected to recognize the entire contract liabilities as of April 30, 2024 as revenue in the next 12 months. For the six months ended April 30, 2024 and 2023, the disaggregation of revenue is as follows: For the Six Months Ended April 30, April 30, (Restated) Ocean freight revenue $ 33,211,799 $ 49,330,293 Vessel service revenue 1,643,746 215,118 Total $ 34,855,545 $ 49,545,411 Government Subsidies The Group received government subsidies according to related policy from local government. The Group receives government subsidies that the Singaporean government has not specified its purpose for and are not tied to future trends or performance of the Group. Receipt of such subsidy income is not contingent upon any further actions or performance of the Group and the amounts do not have to be refunded under any circumstances. The unspecific purpose subsidies are recognized as other income (expenses), net upon receipt as further performance by the Group is not required. For the six months ended April 30, 2024 and 2023, the government subsidies amounted to $459 and $16,793, respectively. Income taxes The Group accounts for current income taxes in accordance with the laws of the relevant tax authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred for the six months ended April 30, 2024 and 2023. All of the tax returns of the Company’s subsidiaries in Singapore remain subject to examination by the tax authorities for four years from the date of filing. Loss per Share Loss per ordinary share is calculated in accordance with ASC 260, Earnings per Share Concentrations of risks a. Significant customers For the six months ended April 30, 2024, no customer accounted for more than 10% of the Group’s total revenues. For the six months ended April 30, 2023, one customer accounted for or approximately 18% of the Group’s total revenues. As of April 30, 2024, two customers accounted for approximately 30% and 10% of the Group’s accounts receivable, respectively. As of October 31, 2023, three customers accounted for approximately 23%, 17% and 10% of the Group’s accounts receivable, respectively. b. Significant suppliers For the six months ended April 30, 2024, one related-party supplier accounted for approximately 22% of the Group’s total purchases. For the six months ended April 30, 2023, one related-party supplier accounted for approximately 27% of the Group’s total purchases and one third-party supplier accounted for approximately 10% of the Group’s total purchases. As of April 30, 2024, one third-party supplier accounted for approximately 99% of the Group’s total accounts payable. As of October 31, 2023, two suppliers accounted for approximately 50% and 46% of the Group’s total accounts payable, respectively. c. Cash and cash equivalents The Group maintains cash and cash equivalents with various financial institutions in Singapore and management believes these financial institutions are high credit quality. As of April 30, 2024 and October 31, 2023, the aggregate amount of cash and cash equivalents of $3,366,025 and $2,219,973, respectively, was held at major financial institutions in Singapore, where there is a Singapore Dollar 100,000 (or $73,009) deposit insurance limit for a legal entity’s aggregated balance at each bank. Recent Accounting Pronouncements The Group considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Group beginning November 1, 2024, and are applied prospectively to business combinations that occur after the effective date. The Group does not expect the adoption of ASU 2021-04 will have a material effect on the consolidated financial statements. In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is also permitted. This ASU will result in additional required disclosures when adopted, where applicable. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2025. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. Once adopted, this ASU will result in additional disclosures. In March 2024, the FASB issued ASU 2024-01, “Compensation - Stock Compensation (Topic 718) - Scope Application of Profits Interest and Similar Awards” (“ASU 2024-01”), which intends to improve clarity and operability without changing the existing guidance. ASU 2024-01 provides an illustrative example intended to demonstrate how entities that account for profits interest and similar awards would determine whether a profits interest award should be accounted for in accordance with Topic 718. Entities can apply the guidance either retrospectively to all prior periods presented in the financial statements or prospectively to profits interest and similar awards granted or modified on or after the date of adoption. ASU 2024-01 is effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Group is currently evaluating the potential impact of adopting this guidance on its financial statements. The Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Group’s consolidated balance sheets, statements of operations and comprehensive income (loss) and statements of cash flows.

Liquidity and Going Concern

Liquidity and Going Concern	6 Months Ended
Liquidity and Going Concern	Apr. 30, 2024
Liquidity and Going Concern [Abstract]
LIQUIDITY AND GOING CONCERN	Note 3 — LIQUIDITY AND GOING CONCERN The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, the financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should the Group be unable to continue as a going concern. For the six months ended April 30, 2024, the Group incurred a continuous net loss of $0.2 million and net cash used in operating activities of $3.5 million. As of April 30, 2024, the Group has an accumulated deficit of $5.7 million and working capital deficit of $7.9 million. These factors raise substantial doubt about the Group’s ability to continue as a going concern. Management monitors and analyzes the Group’s cash on-hand, its ability to generate sufficient revenue sources in the future, and its operating and capital expenditure commitments. The Group has historically funded its working capital needs primarily from operations, bank loans, and advances from shareholders and intends to continue doing so in the near future to ensure sufficient working capital. As of April 30, 2024, the Group had cash and cash equivalents of $3.4 million. Advance from customers included in current liabilities amounted to $3.4 million mainly presenting the advances from customer that will be recognized as revenue in the next fiscal year when the services are provided. Subsequent to April 30, 2024, the Group closed two private placement financings of senior unsecured original issue 25% discount convertible promissory note for total principal amount of approximately $5.3 million with an original issuance discount of approximately $1.3 million and zero annual interest rate. Both convertible promissory notes were subsequently converted into in aggregated of 53,000,000 ordinary shares. To sustain its ability to support the Group’s operating activities, the Group may have to consider supplementing its available sources of funds through the following sources: (1) cash generated from upcoming operations; (2) new bank loans or renew its existing bank loans upon maturity, (3) financial support from the Group’s principal shareholders and related parties. Based on the above analysis, management believes it is more likely than not that the Group can meet its obligations as they become due within one year from the reporting date and can continue as a going concern, the consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Accounts Receivable

Accounts Receivable	6 Months Ended
Accounts Receivable	Apr. 30, 2024
Accounts Receivable [Abstract]
ACCOUNTS RECEIVABLE	Note 4 — ACCOUNTS RECEIVABLE Accounts receivable consisted of the following: April 30, October 31, Accounts receivable $ 4,033,994 $ 983,784 Approximately $4.0 million or 100% of the accounts receivable balance as of April 30, 2024 has been subsequently collected as of September 30, 2024.

Prepayments and Other Assets

Prepayments and Other Assets	6 Months Ended
Prepayments and Other Assets	Apr. 30, 2024
Prepayments and Other Assets [Abstract]
PREPAYMENTS AND OTHER ASSETS	Note 5 — PREPAYMENTS AND OTHER ASSETS Prepayments and other assets consisted of the following: April 30, October 31, Prepayment for fuel and other costs $ 3,662,706 $ 3,509,770 Prepayment for keyman insurance 869,779 894,561 Prepaid consulting service fee 744,179 - Others 52,175 51,971 Total $ 5,328,839 $ 4,456,302 Including: Prepayments and other current assets $ 3,714,881 $ 3,561,741 Prepayments and other non-current assets $ 1,613,958 $ 894,561

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
Accrued Expenses and Other Liabilities	Apr. 30, 2024
Accrued Expenses and Other Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	Note 6 — ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consisted of the following: April 30, October 31, Accrued expenses (1) $ 4,106,992 $ 4,421,644 Board compensation payable 75,000 75,000 Other payable 1,063,574 904,783 Accrued expenses and other liabilities $ 5,245,566 $ 5,401,427 (1) The balance as of April 30, 2024 represented accrued contract expenses of approximately $2.1 million and accrued contract loss of approximately $2.0 million. The balance as of October 31, 2023 represented accrued contract expenses of approximately $3.7 million and accrued contract loss of approximately $0.7 million.

Bank Loans

Bank Loans	6 Months Ended
Bank Loans	Apr. 30, 2024
Bank Loans [Abstract]
BANK LOANS	Note 7 — BANK LOANS Bank loan consisted of the following loans: April 30, October 31, Loan from DBS Bank (due on May 13, 2025) (1) $ 1,037,176 $ 1,497,755 Revolving credit for keyman insurance (2) 916,923 916,923 Total 1,954,099 2,414,678 Less: current maturity of long-term bank loan 955,904 937,457 Long term of bank loans $ 998,195 $ 1,477,221 (1) On April 9, 2020, the Group signed a loan agreement with DBS Bank Ltd. to obtain a five (2) On February 14, 2020, the Group obtained a revolving credit facility I (RCF I) from DBS Bank Ltd. of $916,923 and used to settle the premium of Insurance Policy. The weighted average effective interest rate is 3.1% for the six months ended April 30, 2024. The revolving credit facility is secured by way of first legal assignment of Insurance Policy of all rights, title, interests and benefits under and arising out of the Insurance Policy including all proceeds payable under the Insurance Policy and all proceeds of any repayment or refund of premium by the Insurer, with notification of the assignment to be served and acknowledged by the Insurer. Interest expense for the above-mentioned loans amount to $19,952and The repayment schedule for the bank loans are as follows: Twelve months ending April 30, Repayment 2025 $ 955,904 2026 81,272 2027 - 2028 - 2029 - Thereafter 916,923 Total $ 1,954,099

Convertible Notes

Convertible Notes	6 Months Ended
Convertible Notes	Apr. 30, 2024
Convertible Notes [Abstract]
Convertible Notes	Note 8 — CONVERTIBLE NOTES April 30, October 31, Convertible notes $ 1,573,735 $ - 2023 Convertible Note On November 24, 2023, the Company entered into a securities purchase agreement with an investor, pursuant to which the Company issued the Investor a convertible promissory note on November 24, 2023 in the principal amount of $63,333 (the “2023 Note”) with an origin issue discount (“OID”) of 10% for a term of 9 months. The 2023 Note can be converted at the option of noteholder into Class A ordinary shares of the Company at an initial conversion price of $0.65 per share subject to adjustment specified in the agreement. The proceeds from the 2023 Note was $50,000 (after deducting OID and $7,000 for investors’ fees, costs and other transaction expenses incurred in connection with the purchase and sale of the 2023 Note). The Company may prepay all or a portion of the 2023 Note at any time by paying 120% of the outstanding balance elected for pre-payment. By February 6, 2024, the Company fully settled the 2023 Note with cash repayment of $70,014 and 15,000 ordinary shares issued for equity interest with fair value of $8,468. The Company has elected to recognize the 2023 Note at fair value and therefore there was no further evaluation of embedded conversion option features for bifurcation. Based on the valuation report performed by an independent valuation firm, the fair value of the 2023 Note was determined to be of $57,000 up issuance. The fair value of 2023 Note was determined using the Binomial Option Pricing Model. The major assumptions used in the Binomial Model are as follows: November 24, February 6, Risk-free interest rate 5.22 % 5.05 % Expected life 0.75 year 0.55 year Discount rate 19.72 % 18.23 % Expected volatility 83.14 % 76.21 % Expected dividend yield - % - % Fair value $ 57,000 $ 54,754 The following is a reconciliation of the beginning and ending balances for 2023 Note measured at fair value for the six months ended April 30, 2024: April 30, 2024 Opening balance $ - Issuance of convertible notes 57,000 Change in fair value of convertible notes 21,483 Cash repaid (70,015 ) Ordinary shares issued for convertible notes (8,468 ) Total $ - As of April 30, 2024, the balance of 2023 Convertible Note was Nil Jan 2024 Convertible Notes In January 2024, the Company closed a first tranche of the senior secured convertible note financing with certain investors for the principal amount of $1.5 million (the “Jan 2024 Notes”) with an origin issue discount (“OID”) of 15% for a term of 18 months. The net proceed from the Jan 2024 Notes was approximately $1.0 million (the principal deduced by OID and other issuance costs). The Jan 2024 Notes can be converted at the option of noteholder into Class A ordinary shares of the Company at an initial conversion price of $1.0 per share subject to adjustment specified in the agreement. The Jan 2024 Notes shall be repayable in cash upon maturity. Prior to maturity, the Investors can convert the Jan 2024 Notes into ordinary shares at conditions specified in the agreement. The Jan 2024 Notes contain certain prepayment options and participation rights and is subject to customary closing conditions specified in the agreements. As part of the investment, the Investors are also granted five-year warrants equal to 50% of the funded amount at an initial exercise price equal to $1.00 per share, subject to adjustment. After deducting the placement agent’s commission and other offering expenses payable by the Company, the net proceeds to the Company were approximately $1 million. The Company assessed that the freestanding warrants issued in connection with the Jan 2024 Notes are legally detachable from the Jan 2024 Notes and separately exercisable as such meets the definition of a freestanding derivative instrument pursuant to ASC 815. However, the scope exception in accordance with ASC 815-10-15-74 applies to warrants and it meets the requirements of ASC 815 that would be classified in stockholders’ equity. Therefore, the warrants issued in connection with the Jan 2024 Notes were accounted for within stockholders’ equity. The Company has elected to recognize the Jan 2024 Note at fair value and therefore there was no further evaluation of embedded conversion option features for bifurcation. The proceeds from Jan 2024 Notes were first allocated to the Jan 2024 Notes based on its fair value with the residual being allocated to the warrants. Based on the valuation report performed by an independent valuation firm, the fair value of the 2024 Note upon issuance was determined to be of $1,275,000. There was no residual value allocated to the fair value of the freestanding warrants, which was included the Company’s equity. The fair value of Jan 2024 Note and warrants were determined using the Binomial Option Pricing Model. The major assumptions used in the Binomial Model are as follows: January 10, April 30, Risk-free interest rate 4.49 % 5.08 % Expected life 1.5 year 1.19 year Discount rate 16.40 % 19.84 % Expected volatility 87.79 % 85.23 % Expected dividend yield - % - % Fair value $ 1,275,000 $ 1,573,735 On August 6, 2024, the Jan 2024 Notes noteholders and the Company reached into a termination agreement, pursuant to which, the Company fully settled the Jan 2024 Note with warrants by issuance of 300,000 ordinary shares with fair value of approximately $0.1 million together with a repayment of cash consideration of approximately $1.4 million. The following is a reconciliation of the beginning and ending balances for Jan 2024 Notes measured at fair value for the six months ended April 30, 2024: April 30, 2024 Opening balance $ - Issuance of convertible notes 1,275,000 Change in fair value of convertible notes 298,735 Total $ 1,573,735

Lease

Lease	6 Months Ended
Lease	Apr. 30, 2024
Lease [Abstract]
LEASE	Note 9 — LEASE The Group has several operating leases for shipping and offices. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Total lease expense for the six months ended April 30, 2024 and 2023 amounted to $49,140 and $11,601, respectively. Supplemental balance sheet information related to operating leases was as follows: April 30, October 31, Right-of-use assets, net $ 160,578 $ 204,750 Operating lease liabilities - current $ 92,636 $ 90,585 Operating lease liabilities - non-current 63,249 109,492 Total operating lease liabilities $ 155,885 $ 200,077 The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of April 30, 2024: Remaining lease term and discount rate: Weighted average remaining lease term (years) 1.73 years Weighted average discount rate 3.65 % Maturities of lease liabilities as follow: Twelve months ending April 30, Amount 2025 $ 96,803 2026 64,242 Total future minimum lease payments 161,045 Less: imputed interest 5,160 Present value of lease liabilities $ 155,885

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Apr. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Note 10 — RELATED PARTY TRANSACTIONS The Group records transactions with various related parties. These related party balances as of April 30, 2024 and October 31, 2023 and transactions for the six months ended April 30, 2024 and 2023 are identified as follows: Related parties with transactions and related party relationships Name of Related Party Relationship to the Group Dr. Guohua Zhang (1) Chief Executive Officer and Chairman of the Board Shanghai Weisheng International Logistics Co., Ltd Controlled by a shareholder of the Company Topsheen Shipping Limited Controlled by a shareholder of the Company Nanjing Derun Shipping Co., Ltd. Controlled by a shareholder of the Company Top Wisdom Shipping Management Co. Limited Controlled by a shareholder of the Company Beijing Hanpu Technology Co., Ltd. Controlled by a shareholder of the Company Max Bright Marine Service Co. Ltd. Controlled by a shareholder of the Company Top Legend Shipping Co. Limited Controlled by a shareholder of the Company Top Creation International (HK) Limited Controlled by a shareholder of the Company Top Moral Shipping Limited Controlled by a shareholder of the Company New Galion Group (HK) Co. Ltd (“New Galion”) Controlled by Dr. Guohua Zhang (1) Prior to July 11, 2024, Dr. Guohua Zhang (“Dr. Zhang”), the Chairman of the Board of Directors and then Chief Executive Officer and Interim Chief Financial Officer of the Company was the ultimate controlling shareholder of the Group, holding 67.14% beneficial ownership of Caravelle’s ordinary shares. On July 11, 2024, Dr. Zhang and an affiliate transferred 20,000,000 Ordinary Shares, representing 35.85% of the Company’s outstanding shares, to High-Trend. In connection therewith, Dr. Zhang resigned as Caravelle’s Chief Executive Officer and Interim Chief Financial Officer. (a) Due from related parties Due from related parties consisted of the following: April 30, October 31, Topsheen Shipping Limited (1) $ 983 $ - Top Wisdom Shipping Management Co. Limited (2) - 4,183 Total $ 983 $ 4,183 (1) The balances mainly represented prepayments to Topsheen Shipping Limited, which was utilized subsequently. (2) The balances mainly represented accounts receivables from Top Wisdom Shipping Management Co. Limited. The balance as of October 31, 2023 has been collected during six months ended April 30, 2024. (b) Due to related parties Due to related parties consisted of the following: April 30, October 31, Topsheen Shipping Limited (1) $ 5,442,810 $ 1,182,319 Shanghai Weisheng International Logistics Co., Ltd. 1,127 6,794 Beijing Hanpu Technology Co., Ltd. (2) 579,147 579,147 Dr. Guohua Zhang (3) 1,715,839 2,030,479 New Galion - 99,833 Total $ 7,738,923 $ 3,898,572 (1) The balances mainly represented the balance of advance payment made on behalf of the Group and loan from Topsheen Shipping Limited. For the six months ended April 30, 2024, Topsheen Shipping Limited provided a working capital loan $5.5 million and advance of $0.3 million to the Group. The Group repaid $1.6 million for the six months ended April 30, 2024. The remaining balance is unsecured, interest free and repayable on demand. (2) On May 20, 2022, the Group entered into a vessel purchase agreement with a related party — Beijing Hanpu Technology Co., Ltd. to acquire a testing vessel for the purpose of testing and trial operation with the total purchase price of approximately $0.5 million. The testing vessel was delivered to the Group on June 6, 2022. The balance represents unpaid balance of the above contract and other purchased fixed assets. (3) As of April 30, 2024 and October 31, 2023, Dr. Guohua Zhang advanced $1,715,839 and $2,030,479 to pay certain expanse on behalf of the Group. The advances are non-interest bearing and due on demand. For the six months ended April 30, 2024, the balance payable to Dr. Guohua Zhang included $575,000 advance made by Dr. Guohua Zhang to Pacifico for the related general administrative expense incurred prior to the completion of SPAC Transaction. (c) Services provided by related parties* For the six months ended For the six months ended 2024 2023 (Restated) Topsheen Shipping Limited $ 9,195,145 $ 17,501,563 Max Bright Marine Service Co. Ltd 2,516,981 1,529,205 Top Wisdom Shipping Management Co. Limited 62,497 45,858 Top Creation International (HK) Limited - 958,744 Top Moral Shipping Limited 1,257,907 - Top Legend Shipping Co. Limited - 1,336,135 Total $ 13,032,530 $ 21,371,505 * The Group generally leased vessels or incurred the related freight costs with the above related parties. (d) Services provided to related parties For the six months ended For the six months ended 2024 2023 (Restated) Shanghai Weisheng International Logistics Co., Ltd $ 194,192 $ 301,221 Nanjing Derun Shipping Co., Ltd 61,009 - Topsheen Shipping Limited 1,556,575 106,235 Total $ 1,811,776 $ 407,456 The Group generally provided transportation service to the above related parties. (e) Loan secure provided by a related party One related party provided guarantee for the repayment of the Group’s long-term loan. (See Note 7) (f) Strategic purchase contract with a related party On April 20, 2022, Caravelle entered into a strategic purchase contract with New Galion Group (HK) CO LTD (“New Galion”), a related party. Pursuant to the contract, Caravelle shall purchase four sets of Maritime Carbon Neutral Intelligent Control Platform systems (the “Systems”) from New Galion for total consideration of approximately $16.2 million (HK Dollar 127.0 million) (the “Consideration”). The Consideration shall be paid by four instalments with the first payment (30% of the Consideration) payable on Caravelle’s acceptance of New Galion’s ship modification design report for the Systems. New Galion is responsible to deliver the first set of the Systems before July 1, 2022 and deliver the rest of equipment according to Caravelle’s shipment schedule. On June 20, 2022, Caravelle entered into a supplemental agreement with New Galion to defer to the delivery schedule of the first set of System to suit Caravelle’s needs. As of the date of this filing, Caravelle has not made any payments to New Galion and New Galion did not delivery the related set of system. This agreement was mutually terminated on February 2, 2024 and the Group had a payable balance of $ Nil

Taxes

Taxes	6 Months Ended
Taxes	Apr. 30, 2024
Taxes [Abstract]
TAXES	Note 11 — TAXES (a) Corporate Income Taxes (“CIT”) Cayman Caravelle is incorporated in the Cayman as an offshore holding company and is not subject to tax on income or capital gain under the laws of Cayman. BVI SGEX is incorporated in the British Virgin Islands (“BVI”) as an offshore holding company and is ot subject to tax on income or capital gain under the laws of BVI. Samoa Topsheen Shipping Group Corporation was incorporated in Samoa. There is no income tax for income sourced or earned outside Samoa. Accordingly, the Group’s consolidated financial statements do not present any income tax provisions related to Samoa tax as all income was earned outside of Samoa. If the Group had any income sourced to Samoa, it would be taxed at 27%. Singapore Under Singapore tax laws, subsidiaries in Singapore are subject to statutory income tax rate at 17.0% if revenue is generated in Singapore and there are no withholding taxes in Singapore on remittance of dividends. Topsheen Shipping is eligible and participate under the Maritime Sector Incentive-Approved International Shipping Enterprise (MSI-AIS) award in Singapore. All qualified shipping income derived from the shipping activity in Topsheen Shipping is exempt from taxation for the duration of MSI-AIS approval. The MSI-AIS approval was in November 2015 for a period of ten years. The impact of the tax exemption noted above decreased taxes by $ nil No United States Pursuant to the U.S. Internal Revenue Code (the “Code”), U.S.-source income from the international operation of ships is generally exempt from U.S. tax if the Group operating the ships meets certain requirements. Among other things, in order to qualify for this exemption, the Group operating the ships must be incorporated in a country which grants an equivalent exemption from income taxes to U.S. corporations. i) The components of the income tax provision are as follows: For the six months ended For the six months ended 2024 2023 (Restated) Current $ 4,249 $ 3,618 Deferred (110 ) (1,076 ) Total $ 4,139 $ 2,542 ii) The following table summarizes deferred tax assets resulting from differences between financial accounting basis and tax basis of assets and liabilities: As of As of Deferred tax liability: Depreciation for tangible assets $ 107 $ 217 Total $ 107 $ 217 The Group’s loss before income taxes consisted of: For the six months ended For the six months ended 2024 2023 (Restated) Non-Singapore $ (1,400,322 ) $ (1,054,197 ) Singapore 1,160,453 (5,994,294 ) Total $ (239,869 ) $ (7,048,491 ) The following table reconciles the Singapore statutory rates to the Group’s effective tax rate for the six months ended April 30, 2024 and 2023. For the six months ended For the six months ended 2024 2023 (Restated) Singapore Statutory income tax rate 17.0 % 17.0 % Differential of local statutory tax rate (99.0 )% (4.2 )% Effect of preferential tax rate 88.9 % (14.5 )% Non-taxable income - % 1.7 % Non-deductible items and others * (8.6 )% (0.1 )% Effective tax rate (1.7 )% (0.1 )% * Non-deductible items and others represent excess expenses and losses not deductible for Singapore tax purpose. (b) Taxes payable Taxes payable consist of the following: As of As of Income tax payable $ 60,410 $ 56,161 Total taxes payable $ 60,410 $ 56,161

Equity

Equity	6 Months Ended
Equity	Apr. 30, 2024
Equity [Abstract]
EQUITY	Note 12 —EQUITY Ordinary Shares The Company was incorporated on February 28, 2022 to serve as a holding company. The Company’s authorized share capital is 500,000,000 ordinary shares of a par value of $0.0001 each. In connection with the SPAC Transaction on December 16, 2022, the Company issued 50 million ordinary shares in exchange for all outstanding ordinary shares of Caravelle Group and issued 2,719,579 ordinary shares to the SPAC shareholders. In connection with the SPAC Transaction, the Company also issued 55,000 ordinary shares to settle Pacifico’s promissory note of $500,000. As a result, the Company had 52,774,579 ordinary shares issued and outstanding immediately after the SPAC Transaction. As of April 30, 2024 and October 31, 2023, the Company had 54,289,579 and 52,774,579 ordinary shares issued and outstanding. Ordinary shares issued for convertible notes In connection with the 2023 Note issuance, the Company issued 15,000 ordinary shares to the noteholder as equity interest on December 27, 2023. The fair value of the conversion note was assessed at $8,468 based on the Company’s stock price upon issuance. Shares issued for consulting services On March 10, 2024, the Company entered into a consulting agreement with a third party for a period of two years. Pursuant to the agreement, the Company shall pay cash in specified in the agreement and issue 1,500,000 ordinary shares to the third party. The fair value of the 1,500,000 ordinary share was $800,100, calculated based on the Company’s share price at the date of the agreement. On April 24, 2024, the Company entered into a consulting agreement with a third party for a period of one year. Pursuant to the agreement, the Company shall issue 1,500,000 ordinary shares to the third party. The fair value of the 1,500,000 ordinary share was $1,537,500, calculated based on the Company’s share price at the date of the agreement. For the six months ended April 30, 2024, the Company recorded consulting expense of $81,546 for the above agreements. As of April 30, 2024, there were unrecognized expense related to shares issued for consulting services amounted to $2,256,054. 2022 Incentive Plan The Company has adopted the 2022 Share Incentive Plan (the “2022 Plan”), which provides for the issuance of up to an aggregate of 3,349,520 of its ordinary shares. The 2022 Plan permits the awards of options, share appreciation rights, rights to dividends and dividend equivalent right, restricted shares and restricted share units and other rights or benefits under the 2022 Plan. No share incentives were granted under the 2022 Plan as of April 30, 2024. Dividends During the year ended October 31, 2022, the Group’s subsidiary - Topsheen Shipping declared and paid total dividends of $16,952,502, of which Topsheen Samoa received $8,289,902 and non-controlling shareholder received $8,662,600. On December 30, 2022, the Group’s subsidiary - Topsheen Shipping declared dividends of $2,000,000, of which Topsheen Samoa received $1,220,000 and non-controlling shareholder received $780,000. On January 31, 2023, Topsheen Samoa declared dividends of $1,220,000, of which non-controlling shareholder received $122,000. For the year ended October 31, 2023, the Group declared and paid in total of $902,000 dividends to non-controlling interest shareholders. The dividends at the Group’s subsidiaries were determined based on the related subsidiary’s historical performance and earnings at the time of the dividend declaration.

Restatement of Comparative Peri

Restatement of Comparative Period Figures	6 Months Ended
Restatement of Comparative Period Figures	Apr. 30, 2024
Condensed Financial Information Disclosure [Abstract]
RESTATEMENT OF COMPARATIVE PERIOD FIGURES	Note 13 — RESTATEMENT OF COMPARATIVE PERIOD FIGURES The Group has restated its unaudited condensed consolidated financial statements for the six months ended April 30, 2023. During the interim review of the Group’s financial results for the six months ended April 30, 2024 and 2023, the Audit Committee and management concluded there were errors identified in the previously disclosed the balance sheet as of April 30, 2023 and the operating results for the six months ended April 30, 2023 due to inappropriate consolidation and lack of appropriate cutoff procedures on revenue, costs and expenses during the period end close. The impacts of these restatements are as follow: Unaudited condensed consolidated statement of operation and comprehensive income for the six months ended April 30, 2023 For the Six months ended April 30, 2023 Previous reported Effect of restatement Restated Revenue Ocean freight revenue $ 45,093,336 $ 4,236,957 $ 49,330,293 Vessel service revenue 8,800 206,318 215,118 Total revenue 45,102,136 4,443,275 49,545,411 Cost of revenues 41,713,652 12,526,618 54,240,270 Gross profit (loss) 3,388,484 (8,083,343 ) (4,694,859 ) Operating expenses: General and administrative expenses 2,023,855 79,464 2,103,319 Total operating expenses 2,023,855 79,464 2,103,319 Income (loss) from operations 1,364,629 (8,162,807 ) (6,798,178 ) Other (expense) income Interest income 942 12 954 Interest expense (51,992 ) (5,046 ) (57,038 ) Other income (expense), net 36,124 (230,353 ) (194,229 ) Total other expense, net (14,926 ) (235,387 ) (250,313 ) Income (loss) before income taxes 1,349,703 (8,398,194 ) (7,048,491 ) Provision for income taxes - 2,542 2,542 Net income (loss) 1,349,703 (8,400,736 ) (7,051,033 ) Less: Net income (loss) attributable to non-controlling interests 611,750 (3,343,984 ) (2,732,234 ) Net income (loss) attributable to the Company $ 737,953 $ (5,056,752 ) $ (4,318,799 ) Comprehensive income(loss) 1,349,703 (8,400,736 ) (7,051,033 ) Less: Comprehensive income (loss) attributable to non-controlling interests 611,750 (3,343,984 ) (2,732,234 ) Comprehensive income (loss) attributable to the Company $ 737,953 $ (5,056,752 ) $ (4,318,799 ) Earnings (loss)per share attributable to the Company - Basic and diluted $ 0.01 $ (0.09 ) $ (0.08 ) Weighted Average Shares Outstanding - Basic and diluted 50,000,000 2,068,190 52,068,190 Unaudited condensed consolidated balance sheet as of April 30, 2023. As of April 30, 2023 Previous Effect of Restated ASSETS Current Assets: Cash and cash equivalents $ 9,618,961 $ (14,303 ) $ 9,604,658 Accounts receivable 1,120,891 (461,104 ) 659,787 Prepayments and other current assets 20,247,842 (18,413,811 ) 1,834,031 Total Current Assets 30,987,694 (18,889,218 ) 12,098,476 Property and equipment, net 593,781 (10,753 ) 583,028 Prepayment and other non-current assets 1,513,809 (667,101 ) 846,708 Operating lease right of use asset, net - 189,039 189,039 Total Assets $ 33,095,284 $ (19,378,033 ) $ 13,717,251 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities: Current maturity of long-term bank loan $ 290,835 $ 1,081,202 $ 1,372,037 Accounts payable 467,040 (84,107 ) 382,933 Advance from customers 14,646,609 (10,537,701 ) 4,108,908 Accrued expenses and other liabilities 2,695,541 (1,077,135 ) 1,618,406 Operating lease liability-current - 124,500 124,500 Taxes payable 3,549 52,612 56,161 Due to related parties 3,126,270 (230,718 ) 2,895,552 Total Current Liabilities 21,229,844 (10,671,347 ) 10,558,497 Long-term bank loans 2,491,167 (859,033 ) 1,632,134 Operating lease liability-noncurrent - 64,538 64,538 Deferred tax liability 217 - 217 Total Liabilities 23,721,228 (11,465,842 ) 12,255,386 COMMITMENTS AND CONTINGENCIES Total Equity (deficit): Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 52,774,579 and 50,000,000 shares issued and outstanding at April 30, 2023 5,000 278 5,278 Additional paid-in capital 152,550 (609,733 ) (457,183 ) Retained earnings 3,114,651 (3,056,752 ) 57,899 Total Shareholders’ Equity (Deficit) 3,272,201 (3,666,207 ) (394,006 ) Non-controlling interest 6,101,855 (4,245,984 ) 1,855,871 Total Equity (Deficit) 9,374,056 (7,912,191 ) 1,461,865 Total Liabilities and Equity (Deficit) $ 33,095,284 $ (19,378,033 ) $ 13,717,251

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Apr. 30, 2024
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	Note 14 — COMMITMENTS AND CONTINGENCIES Contingencies The Group may be involved in various legal proceedings, claims and other disputes arising from the commercial operations, projects, employees and other matters which, in general, are subject to uncertainties and in which the outcomes are not predictable. The Group determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. Although the Group can give no assurances about the resolution of pending claims, litigation or other disputes and the effect such outcomes may have on the Group, the Group believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided or covered by insurance, will not have a material adverse effect on the Group’s consolidated financial position or results of operations or liquidity. Commitments The Group had various outstanding bank loans (details refer to Note 7) and non-cancellable operating lease agreements (details refer to Note 9).

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Apr. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Note 15 — SUBSEQUENT EVENTS Private Placement Financing On September 16, 2024, the Company closed a private placement financing of a senior unsecured original issue 25% discount convertible promissory note (the “September 2024 Note”) with its shareholder High-Trend Holdings USA LLC (“High-Trend”) and issued a warrant) to High Trend pursuant to a securities purchase agreement). The September 2024 Note has a principal amount of $3,548,000 with an original issuance discount of $887,000 and zero annual interest. The September 2024 Note had a 12-month maturity and is convertible into the Company’s ordinary shares at an initial conversion price equal to $0.10 per share, subject to adjustment as further specified in the September 2024 Note. As part of the investment, High-Trend was also granted a five-year warrant equal to 150% of the funded amount at an initial exercise price equal to $0.166 per share, subject to adjustment (the “September 2024Warrant”). The Company did not have an obligation to register any of the securities issued in the placement or that are issuable pursuant to the September 2024 Note and September 2024 Warrant. The proceeds from this financing were used for general working capital purposes. The September 2024 Note were subsequently fully converted into 35,480,000 ordinary shares on September 23, 2024. On October 18, 2024, the Company closed a private placement financing of senior unsecured original issue 25% discount convertible promissory notes (the “October 2024 Notes”) with four investors pursuant to a securities purchase agreement. The October 2024 Notes have an aggregate principal amount of $1,752,000 with an aggregate original issuance discount of $438,000 and zero annual interest rate. The October 2024 Notes have a 12-month maturity and are convertible into the Company’s ordinary shares at an initial conversion price equal to $0.10 per share, subject to adjustment. The Company does not have an obligation to register any of the securities issued in the placement or that are issuable pursuant to the October 2024 Notes. The Company intends to use the proceeds from this financing for general working capital purposes. The October 2024 Note were subsequently fully converted into 17,520,000 ordinary shares on October 21, 2024. The Company has assessed all events occurred from April 30, 2024, up through October 30, 2024, there are no other material subsequent events that require disclosure.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
Accounting Policies, by Policy (Policies)	Apr. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Uses of estimates	Uses of estimates In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant accounting estimates required to be made by management include, but are not limited to revenue recognition, the allowance for credit losses of accounts receivable, useful lives and assessment for impairment of long-lived assets, fair value of the convertible notes and warrants well as share-based compensation. Actual results could differ from those estimates.
Accounts Receivable	Accounts Receivable Accounts receivable is recognized and carried at original invoiced amount less an estimated allowance for credit losses. Most accounts receivable is collected within one month. On November 1, 2022, the Group adopted ASU 2016-13, “Financial Instruments — Credit Losses (Accounting Standards Codification (“ASC” Topic 326): Measurement on Credit Losses on Financial Instruments”, including certain subsequent amendments, transitional guidance and other interpretive guidance within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02 and ASU 2020-03 (collectively, including ASU 2016-13, “ASC 326”). ASC 326 introduces an approach based on expected losses to estimate the allowance for doubtful accounts, which replaces the previous incurred loss impairment model. The adoption of this guidance did not have a material impact on the Group’s consolidated financial statements. The Group’s estimation of allowance for credit losses considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible. The Group evaluates its accounts receivable for expected credit losses on a regular basis. The Group maintains an estimated allowance for credit losses to reduce its accounts receivable to the amount that it believes will be collected. The Group considers factors in assessing the collectability of its receivables, such as the age of the amounts due, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts. The Group adjusts the allowance percentage periodically when there are significant differences between estimated bad debts and actual bad debts. If there is strong evidence indicating that the accounts receivable is likely to be unrecoverable, the Group also makes specific allowance in the period in which a loss is determined to be probable. No allowance was recorded as of April 30, 2024 and October 31, 2023, respectively.
Fair value of financial instruments	Fair value of financial instruments ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data. ● Level 3 — inputs to the valuation methodology are unobservable. The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, prepayments and other current assets, accounts payables, balances with related parties, and other current liabilities, approximate their fair values because of the short-term maturity of these instruments. The carrying amounts of long-term loans approximate fair values as the related interest rates currently offered by financial institutions for similar debt instruments of comparable maturities. Assets and Liabilities Measured or Disclosed at Fair Value on a recurring basis The following tables represent the fair value hierarchy of the Group’s financial assets and liabilities measured at fair value on a recurring basis as of April 30, 2024 and October 31, 2023: As of April 30, 2024 Fair Value Measurement at the Reporting Date using Quoted Significant Significant Total Financial liabilities: Contingent consideration – earn-out liability(i) $ - $ - $ - $ - Convertible notes (ii) - - 1,573,735 1,573,735 Total $ - $ - $ 1,573,735 $ 1,573,735 As of October 31, 2023 Fair Value Measurement at the Reporting Date using Quoted Significant Significant Total Financial liabilities: Contingent consideration – earn-out liability (i) $ - $ - $ - $ - Total $ - $ - $ - $ - (i) Contingent consideration – earn-out liability Pursuant to the Merger Agreement, eligible shareholders of Caravelle may receive up to 35,000,000 ordinary shares of the Group (the “Earnout Shares”) if the Group’s consolidated revenue exceed certain targets. Upon the closing of the SPAC Transaction, the Group recorded the fair value of the contingent consideration, which is resulted from earn-out liability and classified as level 3 in the fair value hierarchy. The Group records the changes in fair value in earnings. Since the Group determined that the probabilities of achieving the revenue earnout targets were nil nil (ii) The Group elected the fair value option to account for its convertible notes (excluding freestanding warrants if applicable, refers to Note 8 for detail information). The Group engaged an independent valuation firm to perform the valuation. The fair value of the convertible notes is calculated using the binomial tree model. The convertible notes are classified as level 3 instruments as the valuation was determined based on unobservable inputs which are supported by little or no market activity and reflect the Group’s own assumptions in measuring fair value. Significant estimates used in developing the fair value of the convertible loans include time to maturity, risk-free interest rate, straight debt discount rate, probability to convert and expected timing of conversion. As the inputs used in developing the fair value for level 3 instruments are unobservable, and require significant management estimate, a change in these inputs could result in a significant change in the fair value measurement. The following is a reconciliation of the beginning and ending balances for all convertible notes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of April 30, 2024: April 30, 2024 Opening balance $ - Issuance of convertible notes 1,332,000 Change in fair value of convertible notes 320,218 Cash repaid (70,015 ) Ordinary shares issued for convertible notes (8,468 ) Total $ 1,573,735
Revenue recognition	Revenue recognition The Group is an international operator of comprehensive ocean transportation service. On November 1, 2019, the Group has adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified ASC 606 using the modified retrospective approach. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Group applies the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The Group primarily derives its freight revenue from voyage contracts and provides vessel service. In accordance with ASC 606, the Group evaluates whether our businesses themselves promise to transfer services to the customer (as the principal) or to arrange for services to be provided by another party (as the agent) using a control model. Based on the evaluation of the control model, the Group determined that the Group is the principal to the transaction for voyage contracts and the related revenue from voyage contracts is recognized on a gross basis based on the transfer of control to the customer. The Group’s vessel service contracts engage in certain transactions wherein the Group act as an agent of ship owners. Revenue from these transactions is recorded on a net basis. Net revenue includes billings to customers less third-party charges, including transportation or handling costs, fees, commissions and taxes and duties. Revenue from voyage contracts Under a voyage contract, the Group is engaged to provide the transportation of cargo between specific ports in return for ocean freight payment of an agreed upon freight per ton of cargo. The Group’s voyage contracts generally do not contain cancelable provisions. A voyage was deemed to commence when a vessel was available for loading and was deemed to end upon the completion of the discharge of the current cargo. For the voyage contracts, the customer simultaneously receives and consumes the benefits provided by the Group performance over the voyage period because of the continuous service to the customer. Customers receive the benefit of our services as the goods are transported from one location to another. If the Group was unable to complete delivery to the final location, another entity would not need to reperform the transportation service already performed. As control transfers over time, the Group recognizes revenue ratably from port of loading to when the charterer’s cargo is discharged based on the relative transit time completed in each reporting period. For the unfinished voyages, the Group estimates the percentage of completion based on voyage days completed and total estimated voyage days. Estimated losses on voyages are provided for in full at the time such losses become evident. Voyage expense and other ocean transportation operating costs are charged to operating costs as incurred. Revenue from vessel services The Group contracts with various customers to carry out vessel services for vessels as agents for and on behalf of ship owners. These services include lease of vessels on behalf of the ship owners and commercial management. As the operator of the vessels, the Group undertakes to use its best endeavors to provide the agreed vessel services as agents for and on behalf of the ship owners and to protect and promote the interest of the ship owners in all matters relating to the provision of services. Most of the vessel service agreements span within one year and are typically billed on a monthly basis. The Vessel service revenue is recorded on a net basis. Net revenue includes billings to customers, net of voyage operating expenses incurred. The Group transfers control of the service to the customer and satisfies its performance obligation over the term of the contract, and therefore recognized revenue over the term of the contract. Contract balances Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent amounts invoiced and revenues recognized prior to invoicing when the Group has satisfied the Group’s performance obligation and has the unconditional rights to payment. The balances of accounts receivable were $4,033,994 and $983,784 as of April 30, 2024 and October 31, 2023, respectively. Contract liabilities are reflected as advance from customers on the consolidated balance sheet. Contract liabilities relate to payments received in advance of completion of performance obligations under a contract. Contract liabilities are recognized as revenue upon the fulfillment of performance obligations. As of April 30, 2024 and October 31, 2023, the advances from customer amounted to $3,379,862 and $3,463,413, respectively. The Group expected to recognize the entire contract liabilities as of April 30, 2024 as revenue in the next 12 months. For the six months ended April 30, 2024 and 2023, the disaggregation of revenue is as follows: For the Six Months Ended April 30, April 30, (Restated) Ocean freight revenue $ 33,211,799 $ 49,330,293 Vessel service revenue 1,643,746 215,118 Total $ 34,855,545 $ 49,545,411
Government Subsidies	Government Subsidies The Group received government subsidies according to related policy from local government. The Group receives government subsidies that the Singaporean government has not specified its purpose for and are not tied to future trends or performance of the Group. Receipt of such subsidy income is not contingent upon any further actions or performance of the Group and the amounts do not have to be refunded under any circumstances. The unspecific purpose subsidies are recognized as other income (expenses), net upon receipt as further performance by the Group is not required. For the six months ended April 30, 2024 and 2023, the government subsidies amounted to $459 and $16,793, respectively.
Income taxes	Income taxes The Group accounts for current income taxes in accordance with the laws of the relevant tax authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred for the six months ended April 30, 2024 and 2023. All of the tax returns of the Company’s subsidiaries in Singapore remain subject to examination by the tax authorities for four years from the date of filing.
Loss per Share	Loss per Share Loss per ordinary share is calculated in accordance with ASC 260, Earnings per Share
Concentrations of risks	Concentrations of risks a. Significant customers For the six months ended April 30, 2024, no customer accounted for more than 10% of the Group’s total revenues. For the six months ended April 30, 2023, one customer accounted for or approximately 18% of the Group’s total revenues. As of April 30, 2024, two customers accounted for approximately 30% and 10% of the Group’s accounts receivable, respectively. As of October 31, 2023, three customers accounted for approximately 23%, 17% and 10% of the Group’s accounts receivable, respectively. b. Significant suppliers For the six months ended April 30, 2024, one related-party supplier accounted for approximately 22% of the Group’s total purchases. For the six months ended April 30, 2023, one related-party supplier accounted for approximately 27% of the Group’s total purchases and one third-party supplier accounted for approximately 10% of the Group’s total purchases. As of April 30, 2024, one third-party supplier accounted for approximately 99% of the Group’s total accounts payable. As of October 31, 2023, two suppliers accounted for approximately 50% and 46% of the Group’s total accounts payable, respectively. c. Cash and cash equivalents The Group maintains cash and cash equivalents with various financial institutions in Singapore and management believes these financial institutions are high credit quality. As of April 30, 2024 and October 31, 2023, the aggregate amount of cash and cash equivalents of $3,366,025 and $2,219,973, respectively, was held at major financial institutions in Singapore, where there is a Singapore Dollar 100,000 (or $73,009) deposit insurance limit for a legal entity’s aggregated balance at each bank.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Group considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Group beginning November 1, 2024, and are applied prospectively to business combinations that occur after the effective date. The Group does not expect the adoption of ASU 2021-04 will have a material effect on the consolidated financial statements. In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is also permitted. This ASU will result in additional required disclosures when adopted, where applicable. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2025. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. Once adopted, this ASU will result in additional disclosures. In March 2024, the FASB issued ASU 2024-01, “Compensation - Stock Compensation (Topic 718) - Scope Application of Profits Interest and Similar Awards” (“ASU 2024-01”), which intends to improve clarity and operability without changing the existing guidance. ASU 2024-01 provides an illustrative example intended to demonstrate how entities that account for profits interest and similar awards would determine whether a profits interest award should be accounted for in accordance with Topic 718. Entities can apply the guidance either retrospectively to all prior periods presented in the financial statements or prospectively to profits interest and similar awards granted or modified on or after the date of adoption. ASU 2024-01 is effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Group is currently evaluating the potential impact of adopting this guidance on its financial statements. The Group does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Group’s consolidated balance sheets, statements of operations and comprehensive income (loss) and statements of cash flows.

Organization and Business Des_2

Organization and Business Description (Tables)	6 Months Ended
Organization and Business Description (Tables)	Apr. 30, 2024
Organization and Business Description [Abstract]
Schedule of Company’s Subsidiaries	As of the date of the report, the Company’s subsidiaries are as follows: Subsidiaries Date of Acquisition Jurisdiction of Percentage of Principal Caravelle Group Co., Ltd (“Caravelle Group”) April 1, 2021 Cayman Islands 100% Investment Holding SGEX Group Co., Ltd (“SGEX”) April 19, 2021 British Virgin Islands (“BVI”) 100% Investment Holding Pacifico Acquisition Corp.* December 16, 2022 the U.S. 100% Investment Holding Topsheen Shipping Group Corporation (“Topsheen Samoa”) July 23, 2012 Samoa 90% Transportation service Topsheen Shipping Singapore Pte. Ltd (“Topsheen Shipping”) October 30, 2015 Singapore 61% owned subsidiary of Topsheen Samoa Transportation service Topsheen Bulk Singapore Pte. Ltd (“Topsheen Bulk”) March 16, 2019 Singapore 100% owned subsidiary of Topsheen Shipping Transportation service Singapore Garden Technology Pte. Ltd. (“Garden Technology”) December 6, 2020 Singapore 100% Transportation and heating business * Pacifico Acquisition Corp was dissolved on September 26, 2024.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Apr. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables represent the fair value hierarchy of the Group’s financial assets and liabilities measured at fair value on a recurring basis as of April 30, 2024 and October 31, 2023: As of April 30, 2024 Fair Value Measurement at the Reporting Date using Quoted Significant Significant Total Financial liabilities: Contingent consideration – earn-out liability(i) $ - $ - $ - $ - Convertible notes (ii) - - 1,573,735 1,573,735 Total $ - $ - $ 1,573,735 $ 1,573,735 As of October 31, 2023 Fair Value Measurement at the Reporting Date using Quoted Significant Significant Total Financial liabilities: Contingent consideration – earn-out liability (i) $ - $ - $ - $ - Total $ - $ - $ - $ - (i) Contingent consideration – earn-out liability Pursuant to the Merger Agreement, eligible shareholders of Caravelle may receive up to 35,000,000 ordinary shares of the Group (the “Earnout Shares”) if the Group’s consolidated revenue exceed certain targets. Upon the closing of the SPAC Transaction, the Group recorded the fair value of the contingent consideration, which is resulted from earn-out liability and classified as level 3 in the fair value hierarchy. The Group records the changes in fair value in earnings. Since the Group determined that the probabilities of achieving the revenue earnout targets were nil nil (ii) The Group elected the fair value option to account for its convertible notes (excluding freestanding warrants if applicable, refers to Note 8 for detail information). The Group engaged an independent valuation firm to perform the valuation. The fair value of the convertible notes is calculated using the binomial tree model. The convertible notes are classified as level 3 instruments as the valuation was determined based on unobservable inputs which are supported by little or no market activity and reflect the Group’s own assumptions in measuring fair value. Significant estimates used in developing the fair value of the convertible loans include time to maturity, risk-free interest rate, straight debt discount rate, probability to convert and expected timing of conversion.
Schedule of Convertible Notes Measured at Fair Value on a Recurring Basis	The following is a reconciliation of the beginning and ending balances for all convertible notes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of April 30, 2024: April 30, 2024 Opening balance $ - Issuance of convertible notes 1,332,000 Change in fair value of convertible notes 320,218 Cash repaid (70,015 ) Ordinary shares issued for convertible notes (8,468 ) Total $ 1,573,735
Schedule of Disaggregation of Revenue	For the six months ended April 30, 2024 and 2023, the disaggregation of revenue is as follows: For the Six Months Ended April 30, April 30, (Restated) Ocean freight revenue $ 33,211,799 $ 49,330,293 Vessel service revenue 1,643,746 215,118 Total $ 34,855,545 $ 49,545,411

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
Accounts Receivable (Tables)	Apr. 30, 2024
Accounts Receivable [Abstract]
Schedule of Accounts Receivable	Accounts receivable consisted of the following: April 30, October 31, Accounts receivable $ 4,033,994 $ 983,784

Prepayments and Other Assets (T

Prepayments and Other Assets (Tables)	6 Months Ended
Prepayments and Other Assets (Tables)	Apr. 30, 2024
Prepayments and Other Assets [Abstract]
Schedule of Prepayments and Other Assets	Prepayments and other assets consisted of the following: April 30, October 31, Prepayment for fuel and other costs $ 3,662,706 $ 3,509,770 Prepayment for keyman insurance 869,779 894,561 Prepaid consulting service fee 744,179 - Others 52,175 51,971 Total $ 5,328,839 $ 4,456,302 Including: Prepayments and other current assets $ 3,714,881 $ 3,561,741 Prepayments and other non-current assets $ 1,613,958 $ 894,561

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
Accrued Expenses and Other Liabilities (Tables)	Apr. 30, 2024
Accrued Expenses and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following: April 30, October 31, Accrued expenses (1) $ 4,106,992 $ 4,421,644 Board compensation payable 75,000 75,000 Other payable 1,063,574 904,783 Accrued expenses and other liabilities $ 5,245,566 $ 5,401,427 (1) The balance as of April 30, 2024 represented accrued contract expenses of approximately $2.1 million and accrued contract loss of approximately $2.0 million. The balance as of October 31, 2023 represented accrued contract expenses of approximately $3.7 million and accrued contract loss of approximately $0.7 million.

Bank Loans (Tables)

Bank Loans (Tables)	6 Months Ended
Bank Loans (Tables)	Apr. 30, 2024
Bank Loans [Abstract]
Schedule of Bank Loan	Bank loan consisted of the following loans: April 30, October 31, Loan from DBS Bank (due on May 13, 2025) (1) $ 1,037,176 $ 1,497,755 Revolving credit for keyman insurance (2) 916,923 916,923 Total 1,954,099 2,414,678 Less: current maturity of long-term bank loan 955,904 937,457 Long term of bank loans $ 998,195 $ 1,477,221 (1) On April 9, 2020, the Group signed a loan agreement with DBS Bank Ltd. to obtain a five (2) On February 14, 2020, the Group obtained a revolving credit facility I (RCF I) from DBS Bank Ltd. of $916,923 and used to settle the premium of Insurance Policy. The weighted average effective interest rate is 3.1% for the six months ended April 30, 2024. The revolving credit facility is secured by way of first legal assignment of Insurance Policy of all rights, title, interests and benefits under and arising out of the Insurance Policy including all proceeds payable under the Insurance Policy and all proceeds of any repayment or refund of premium by the Insurer, with notification of the assignment to be served and acknowledged by the Insurer.
Schedule of Repayment for Bank Loans	The repayment schedule for the bank loans are as follows: Twelve months ending April 30, Repayment 2025 $ 955,904 2026 81,272 2027 - 2028 - 2029 - Thereafter 916,923 Total $ 1,954,099

Convertible Notes (Tables)

Convertible Notes (Tables)	6 Months Ended
Convertible Notes (Tables)	Apr. 30, 2024
Convertible Notes [Abstract]
Schedule of Convertible Notes	April 30, October 31, Convertible notes $ 1,573,735 $ -
Schedule of Fair Value Determined the Binomial Option Pricing Model	The fair value of 2023 Note was determined using the Binomial Option Pricing Model. The major assumptions used in the Binomial Model are as follows: November 24, February 6, Risk-free interest rate 5.22 % 5.05 % Expected life 0.75 year 0.55 year Discount rate 19.72 % 18.23 % Expected volatility 83.14 % 76.21 % Expected dividend yield - % - % Fair value $ 57,000 $ 54,754 January 10, April 30, Risk-free interest rate 4.49 % 5.08 % Expected life 1.5 year 1.19 year Discount rate 16.40 % 19.84 % Expected volatility 87.79 % 85.23 % Expected dividend yield - % - % Fair value $ 1,275,000 $ 1,573,735
Schedule of Reconciliation of the Beginning and Ending Balances	The following is a reconciliation of the beginning and ending balances for 2023 Note measured at fair value for the six months ended April 30, 2024: April 30, 2024 Opening balance $ - Issuance of convertible notes 57,000 Change in fair value of convertible notes 21,483 Cash repaid (70,015 ) Ordinary shares issued for convertible notes (8,468 ) Total $ - April 30, 2024 Opening balance $ - Issuance of convertible notes 1,275,000 Change in fair value of convertible notes 298,735 Total $ 1,573,735

Lease (Tables)

Lease (Tables)	6 Months Ended
Lease (Tables)	Apr. 30, 2024
Lease [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases was as follows: April 30, October 31, Right-of-use assets, net $ 160,578 $ 204,750 Operating lease liabilities - current $ 92,636 $ 90,585 Operating lease liabilities - non-current 63,249 109,492 Total operating lease liabilities $ 155,885 $ 200,077
Schedule of Weighted Average Remaining Lease Terms and Discount Rates	The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of April 30, 2024: Remaining lease term and discount rate: Weighted average remaining lease term (years) 1.73 years Weighted average discount rate 3.65 %
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as follow: Twelve months ending April 30, Amount 2025 $ 96,803 2026 64,242 Total future minimum lease payments 161,045 Less: imputed interest 5,160 Present value of lease liabilities $ 155,885

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Apr. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Parties with Transactions and Related Party Relationships	Related parties with transactions and related party relationships Name of Related Party Relationship to the Group Dr. Guohua Zhang (1) Chief Executive Officer and Chairman of the Board Shanghai Weisheng International Logistics Co., Ltd Controlled by a shareholder of the Company Topsheen Shipping Limited Controlled by a shareholder of the Company Nanjing Derun Shipping Co., Ltd. Controlled by a shareholder of the Company Top Wisdom Shipping Management Co. Limited Controlled by a shareholder of the Company Beijing Hanpu Technology Co., Ltd. Controlled by a shareholder of the Company Max Bright Marine Service Co. Ltd. Controlled by a shareholder of the Company Top Legend Shipping Co. Limited Controlled by a shareholder of the Company Top Creation International (HK) Limited Controlled by a shareholder of the Company Top Moral Shipping Limited Controlled by a shareholder of the Company New Galion Group (HK) Co. Ltd (“New Galion”) Controlled by Dr. Guohua Zhang (1) Prior to July 11, 2024, Dr. Guohua Zhang (“Dr. Zhang”), the Chairman of the Board of Directors and then Chief Executive Officer and Interim Chief Financial Officer of the Company was the ultimate controlling shareholder of the Group, holding 67.14% beneficial ownership of Caravelle’s ordinary shares. On July 11, 2024, Dr. Zhang and an affiliate transferred 20,000,000 Ordinary Shares, representing 35.85% of the Company’s outstanding shares, to High-Trend. In connection therewith, Dr. Zhang resigned as Caravelle’s Chief Executive Officer and Interim Chief Financial Officer.
Schedule of Due from Related Parties	Due from related parties consisted of the following: April 30, October 31, Topsheen Shipping Limited (1) $ 983 $ - Top Wisdom Shipping Management Co. Limited (2) - 4,183 Total $ 983 $ 4,183 (1) The balances mainly represented prepayments to Topsheen Shipping Limited, which was utilized subsequently. (2) The balances mainly represented accounts receivables from Top Wisdom Shipping Management Co. Limited. The balance as of October 31, 2023 has been collected during six months ended April 30, 2024.
Schedule of Due to Related Parties	Due to related parties consisted of the following: April 30, October 31, Topsheen Shipping Limited (1) $ 5,442,810 $ 1,182,319 Shanghai Weisheng International Logistics Co., Ltd. 1,127 6,794 Beijing Hanpu Technology Co., Ltd. (2) 579,147 579,147 Dr. Guohua Zhang (3) 1,715,839 2,030,479 New Galion - 99,833 Total $ 7,738,923 $ 3,898,572 (1) The balances mainly represented the balance of advance payment made on behalf of the Group and loan from Topsheen Shipping Limited. For the six months ended April 30, 2024, Topsheen Shipping Limited provided a working capital loan $5.5 million and advance of $0.3 million to the Group. The Group repaid $1.6 million for the six months ended April 30, 2024. The remaining balance is unsecured, interest free and repayable on demand. (2) On May 20, 2022, the Group entered into a vessel purchase agreement with a related party — Beijing Hanpu Technology Co., Ltd. to acquire a testing vessel for the purpose of testing and trial operation with the total purchase price of approximately $0.5 million. The testing vessel was delivered to the Group on June 6, 2022. The balance represents unpaid balance of the above contract and other purchased fixed assets. (3) As of April 30, 2024 and October 31, 2023, Dr. Guohua Zhang advanced $1,715,839 and $2,030,479 to pay certain expanse on behalf of the Group. The advances are non-interest bearing and due on demand. For the six months ended April 30, 2024, the balance payable to Dr. Guohua Zhang included $575,000 advance made by Dr. Guohua Zhang to Pacifico for the related general administrative expense incurred prior to the completion of SPAC Transaction.
Schedule of Services Provided by Related Parties	Services provided by related parties* For the six months ended For the six months ended 2024 2023 (Restated) Topsheen Shipping Limited $ 9,195,145 $ 17,501,563 Max Bright Marine Service Co. Ltd 2,516,981 1,529,205 Top Wisdom Shipping Management Co. Limited 62,497 45,858 Top Creation International (HK) Limited - 958,744 Top Moral Shipping Limited 1,257,907 - Top Legend Shipping Co. Limited - 1,336,135 Total $ 13,032,530 $ 21,371,505 * The Group generally leased vessels or incurred the related freight costs with the above related parties. For the six months ended For the six months ended 2024 2023 (Restated) Shanghai Weisheng International Logistics Co., Ltd $ 194,192 $ 301,221 Nanjing Derun Shipping Co., Ltd 61,009 - Topsheen Shipping Limited 1,556,575 106,235 Total $ 1,811,776 $ 407,456 ** The Group generally provided transportation service to the above related parties.

Taxes (Tables)

Taxes (Tables)	6 Months Ended
Taxes (Tables)	Apr. 30, 2024
Taxes [Abstract]
Schedule of Components of Income Tax	The components of the income tax provision are as follows: For the six months ended For the six months ended 2024 2023 (Restated) Current $ 4,249 $ 3,618 Deferred (110 ) (1,076 ) Total $ 4,139 $ 2,542
Schedule of Deferred Tax Assets	The following table summarizes deferred tax assets resulting from differences between financial accounting basis and tax basis of assets and liabilities: As of As of Deferred tax liability: Depreciation for tangible assets $ 107 $ 217 Total $ 107 $ 217
Schedule of Group’s Loss Before Income Taxes	The Group’s loss before income taxes consisted of: For the six months ended For the six months ended 2024 2023 (Restated) Non-Singapore $ (1,400,322 ) $ (1,054,197 ) Singapore 1,160,453 (5,994,294 ) Total $ (239,869 ) $ (7,048,491 )
Schedule of Reconciles the Singapore Statutory Rates to the Group’s Effective Tax Rate	The following table reconciles the Singapore statutory rates to the Group’s effective tax rate for the six months ended April 30, 2024 and 2023. For the six months ended For the six months ended 2024 2023 (Restated) Singapore Statutory income tax rate 17.0 % 17.0 % Differential of local statutory tax rate (99.0 )% (4.2 )% Effect of preferential tax rate 88.9 % (14.5 )% Non-taxable income - % 1.7 % Non-deductible items and others * (8.6 )% (0.1 )% Effective tax rate (1.7 )% (0.1 )% * Non-deductible items and others represent excess expenses and losses not deductible for Singapore tax purpose.
Schedule of Taxes Payable	Taxes payable consist of the following: As of As of Income tax payable $ 60,410 $ 56,161 Total taxes payable $ 60,410 $ 56,161

Restatement of Comparative Pe_2

Restatement of Comparative Period Figures (Tables)	6 Months Ended
Restatement of Comparative Period Figures (Tables)	Apr. 30, 2024
Condensed Financial Information Disclosure [Abstract]
Schedule of Unaudited Condensed Consolidated Statement of Operation and Comprehensive Income	Unaudited condensed consolidated statement of operation and comprehensive income for the six months ended April 30, 2023 For the Six months ended April 30, 2023 Previous reported Effect of restatement Restated Revenue Ocean freight revenue $ 45,093,336 $ 4,236,957 $ 49,330,293 Vessel service revenue 8,800 206,318 215,118 Total revenue 45,102,136 4,443,275 49,545,411 Cost of revenues 41,713,652 12,526,618 54,240,270 Gross profit (loss) 3,388,484 (8,083,343 ) (4,694,859 ) Operating expenses: General and administrative expenses 2,023,855 79,464 2,103,319 Total operating expenses 2,023,855 79,464 2,103,319 Income (loss) from operations 1,364,629 (8,162,807 ) (6,798,178 ) Other (expense) income Interest income 942 12 954 Interest expense (51,992 ) (5,046 ) (57,038 ) Other income (expense), net 36,124 (230,353 ) (194,229 ) Total other expense, net (14,926 ) (235,387 ) (250,313 ) Income (loss) before income taxes 1,349,703 (8,398,194 ) (7,048,491 ) Provision for income taxes - 2,542 2,542 Net income (loss) 1,349,703 (8,400,736 ) (7,051,033 ) Less: Net income (loss) attributable to non-controlling interests 611,750 (3,343,984 ) (2,732,234 ) Net income (loss) attributable to the Company $ 737,953 $ (5,056,752 ) $ (4,318,799 ) Comprehensive income(loss) 1,349,703 (8,400,736 ) (7,051,033 ) Less: Comprehensive income (loss) attributable to non-controlling interests 611,750 (3,343,984 ) (2,732,234 ) Comprehensive income (loss) attributable to the Company $ 737,953 $ (5,056,752 ) $ (4,318,799 ) Earnings (loss)per share attributable to the Company - Basic and diluted $ 0.01 $ (0.09 ) $ (0.08 ) Weighted Average Shares Outstanding - Basic and diluted 50,000,000 2,068,190 52,068,190
Schedule of Unaudited Condensed Consolidated Balance Sheet	Unaudited condensed consolidated balance sheet as of April 30, 2023. As of April 30, 2023 Previous Effect of Restated ASSETS Current Assets: Cash and cash equivalents $ 9,618,961 $ (14,303 ) $ 9,604,658 Accounts receivable 1,120,891 (461,104 ) 659,787 Prepayments and other current assets 20,247,842 (18,413,811 ) 1,834,031 Total Current Assets 30,987,694 (18,889,218 ) 12,098,476 Property and equipment, net 593,781 (10,753 ) 583,028 Prepayment and other non-current assets 1,513,809 (667,101 ) 846,708 Operating lease right of use asset, net - 189,039 189,039 Total Assets $ 33,095,284 $ (19,378,033 ) $ 13,717,251 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities: Current maturity of long-term bank loan $ 290,835 $ 1,081,202 $ 1,372,037 Accounts payable 467,040 (84,107 ) 382,933 Advance from customers 14,646,609 (10,537,701 ) 4,108,908 Accrued expenses and other liabilities 2,695,541 (1,077,135 ) 1,618,406 Operating lease liability-current - 124,500 124,500 Taxes payable 3,549 52,612 56,161 Due to related parties 3,126,270 (230,718 ) 2,895,552 Total Current Liabilities 21,229,844 (10,671,347 ) 10,558,497 Long-term bank loans 2,491,167 (859,033 ) 1,632,134 Operating lease liability-noncurrent - 64,538 64,538 Deferred tax liability 217 - 217 Total Liabilities 23,721,228 (11,465,842 ) 12,255,386 COMMITMENTS AND CONTINGENCIES Total Equity (deficit): Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 52,774,579 and 50,000,000 shares issued and outstanding at April 30, 2023 5,000 278 5,278 Additional paid-in capital 152,550 (609,733 ) (457,183 ) Retained earnings 3,114,651 (3,056,752 ) 57,899 Total Shareholders’ Equity (Deficit) 3,272,201 (3,666,207 ) (394,006 ) Non-controlling interest 6,101,855 (4,245,984 ) 1,855,871 Total Equity (Deficit) 9,374,056 (7,912,191 ) 1,461,865 Total Liabilities and Equity (Deficit) $ 33,095,284 $ (19,378,033 ) $ 13,717,251

Organization and Business Des_3

Organization and Business Description (Details)	6 Months Ended
Organization and Business Description (Details)	Apr. 30, 2024 shares
Organization and Business Description [Abstract]
Number of shares cancelled	50,000,000

Organization and Business Des_4

Organization and Business Description (Details) - Schedule of Company’s Subsidiaries	6 Months Ended
	Apr. 30, 2024
Caravelle Group Co., Ltd (“Caravelle Group”) [Member]
Schedule of Company’s Subsidiaries [Line Items]
Date of Incorporation/ Acquisition	Apr. 01, 2021
Jurisdiction of Formation	Cayman Islands
Percentage of direct/indirect Economic Ownership	100%
Principal Activities	Investment Holding
SGEX Group Co., Ltd (“SGEX”) [Member]
Schedule of Company’s Subsidiaries [Line Items]
Date of Incorporation/ Acquisition	Apr. 19, 2021
Jurisdiction of Formation	British Virgin Islands (“BVI”)
Percentage of direct/indirect Economic Ownership	100%
Principal Activities	Investment Holding
Pacifico Acquisition Corp. [Member]
Schedule of Company’s Subsidiaries [Line Items]
Date of Incorporation/ Acquisition	Dec. 16, 2022	[1]
Jurisdiction of Formation	the U.S.	[1]
Percentage of direct/indirect Economic Ownership	100%	[1]
Principal Activities	Investment Holding	[1]
Topsheen Shipping Group Corporation (“Topsheen Samoa”) [Member]
Schedule of Company’s Subsidiaries [Line Items]
Date of Incorporation/ Acquisition	Jul. 23, 2012
Jurisdiction of Formation	Samoa
Percentage of direct/indirect Economic Ownership	90%
Principal Activities	Transportation service
Topsheen Shipping Singapore Pte. Ltd (“Topsheen Shipping”) [Member]
Schedule of Company’s Subsidiaries [Line Items]
Date of Incorporation/ Acquisition	Oct. 30, 2015
Jurisdiction of Formation	Singapore
Percentage of direct/indirect Economic Ownership	61%
Principal Activities	Transportation service
Topsheen Bulk Singapore Pte. Ltd (“Topsheen Bulk”) [Member]
Schedule of Company’s Subsidiaries [Line Items]
Date of Incorporation/ Acquisition	Mar. 16, 2019
Jurisdiction of Formation	Singapore
Percentage of direct/indirect Economic Ownership	100%
Principal Activities	Transportation service
Singapore Garden Technology Pte. Ltd. (“Garden Technology”) [Member]
Schedule of Company’s Subsidiaries [Line Items]
Date of Incorporation/ Acquisition	Dec. 06, 2020
Jurisdiction of Formation	Singapore
Percentage of direct/indirect Economic Ownership	100%
Principal Activities	Transportation and heating business

[1]Pacifico Acquisition Corp was dissolved on September 26, 2024.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)		6 Months Ended		12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 16, 2022 USD ($)	Apr. 30, 2024 USD ($) shares	Apr. 30, 2023 USD ($)	Oct. 31, 2023 USD ($)	Apr. 30, 2024 SGD ($)
Summary of Significant Accounting Policies [Line Items]
Earnout shares (in Shares) \| shares		35,000,000
Earnout revenue (in Dollars)
Earnout liability (in Dollars)
Accounts receivable (in Dollars)		$ 4,033,994	$ 659,787	$ 983,784
Advance from customers (in Dollars)		3,379,862		3,463,413
Subsidies amounted (in Dollars)		$ 459	16,793
Amount of tax benefit		50%
Cash and cash equivalents (in Dollars)		$ 3,366,808	$ 9,604,658	2,219,973
Deposit insurance		73,009			$ 100,000
Singapore [Member]
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents (in Dollars)		$ 3,366,025		$ 2,219,973
Customer Concentration Risk [Member] \| One Customer [Member] \| Revenue Benchmark [Member]
Summary of Significant Accounting Policies [Line Items]
Concentrations of risk percentage			18%
Customer Concentration Risk [Member] \| One Customer [Member] \| Accounts Receivable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentrations of risk percentage		30%		23%
Customer Concentration Risk [Member] \| Two Customer [Member] \| Accounts Receivable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentrations of risk percentage		10%		17%
Customer Concentration Risk [Member] \| Three Customers [Member] \| Accounts Receivable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentrations of risk percentage				10%
Supplier Concentration Risk [Member] \| Purchases [Member] \| One Related Party Supplier [Member]
Summary of Significant Accounting Policies [Line Items]
Concentrations of risk percentage		22%	27%
Supplier Concentration Risk [Member] \| Purchases [Member] \| One Third-Party Supplier [Member]
Summary of Significant Accounting Policies [Line Items]
Concentrations of risk percentage		99%	10%
Supplier Concentration Risk [Member] \| Accounts Payable [Member] \| One Related Party Supplier [Member]
Summary of Significant Accounting Policies [Line Items]
Concentrations of risk percentage				50%
Supplier Concentration Risk [Member] \| Accounts Payable [Member] \| Two Related Party Supplier [Member]
Summary of Significant Accounting Policies [Line Items]
Concentrations of risk percentage				46%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - USD ($)		Apr. 30, 2024	Apr. 30, 2023
Financial liabilities:
Contingent consideration – earn-out liability	[1]
Convertible notes	[2]	1,573,735
Total		1,573,735
Quoted price in active markets for identical assets Level 1 [Member]
Financial liabilities:
Contingent consideration – earn-out liability	[1]
Convertible notes	[2]
Total
Significant other observable inputs Level 2 [Member]
Financial liabilities:
Contingent consideration – earn-out liability	[1]
Convertible notes	[2]
Total
Significant unobservable inputs Level 3 [Member]
Financial liabilities:
Contingent consideration – earn-out liability	[1]
Convertible notes	[2]	1,573,735
Total		$ 1,573,735

[1]Contingent consideration – earn-out liability Pursuant to the Merger Agreement, eligible shareholders of Caravelle may receive up to 35,000,000 ordinary shares of the Group (the “Earnout Shares”) if the Group’s consolidated revenue exceed certain targets. Upon the closing of the SPAC Transaction, the Group recorded the fair value of the contingent consideration, which is resulted from earn-out liability and classified as level 3 in the fair value hierarchy. The Group records the changes in fair value in earnings. Since the Group determined that the probabilities of achieving the revenue earnout targets were nil, the Group estimated the fair value of the Earnout liability of $nil as of December 16, 2022 (upon the closing of the SPAC Transaction), October 31, 2023 and April 30, 2024.[2]Convertible notes The Group elected the fair value option to account for its convertible notes (excluding freestanding warrants if applicable, refers to Note 8 for detail information). The Group engaged an independent valuation firm to perform the valuation. The fair value of the convertible notes is calculated using the binomial tree model. The convertible notes are classified as level 3 instruments as the valuation was determined based on unobservable inputs which are supported by little or no market activity and reflect the Group’s own assumptions in measuring fair value. Significant estimates used in developing the fair value of the convertible loans include time to maturity, risk-free interest rate, straight debt discount rate, probability to convert and expected timing of conversion.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of Convertible Notes Measured at Fair Value on a Recurring Basis - Level 3 [Member]	6 Months Ended
	Apr. 30, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance
Issuance of convertible notes	1,332,000
Change in fair value of convertible notes	320,218
Cash repaid	(70,015)
Ordinary shares issued for convertible notes	(8,468)
Total	$ 1,573,735

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of Disaggregation of Revenue - USD ($)	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Schedule of Disaggregation of Revenue [Line Items]
Revenue	$ 34,855,545	$ 49,545,411
Ocean freight revenue [Member]
Schedule of Disaggregation of Revenue [Line Items]
Revenue	33,211,799	49,330,293
Vessel service revenue [Member]
Schedule of Disaggregation of Revenue [Line Items]
Revenue	$ 1,643,746	$ 215,118

Liquidity and Going Concern (De

Liquidity and Going Concern (Details) - USD ($)	6 Months Ended
Liquidity and Going Concern (Details) - USD ($)	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Liquidity and Going Concern [Abstract]
Net loss	$ (244,008)	$ (7,051,033)
Net cash used in operating activities	(3,500,590)	(9,881,403)
Accumulated deficit	(5,726,991)	57,899	$ (4,955,326)
Working capital deficit	7,900,000
Cash and cash equivalents	3,366,808	9,604,658	$ 2,219,973
Advance from customers	$ 3,400,000	$ 4,108,908
Discount convertible promissory note, percentage	25%
Convertible promissory note	$ 5,300,000
Original issuance discount value	1,300,000
Annual interest rate	$ 0
Convertedaggregated ordinary shares (in Shares)	53,000,000

Accounts Receivable (Details)

Accounts Receivable (Details) $ in Millions	Apr. 30, 2024 USD ($)
Accounts Receivable [Abstract]
Accounts receivable	$ 4
Percentage of accounts receivable	100%

Accounts Receivable (Details) -

Accounts Receivable (Details) - Schedule of Accounts Receivable - USD ($)	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Schedule of Accounts Receivable [Abstract]
Accounts receivable	$ 4,033,994	$ 983,784	$ 659,787

Prepayments and Other Assets (D

Prepayments and Other Assets (Details) - Schedule of Prepayments and Other Assets - USD ($)	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Schedule of Prepayments and Other Assets [Abstract]
Prepayment for fuel and other costs	$ 3,662,706	$ 3,509,770
Prepayment for keyman insurance	869,779	894,561
Prepaid consulting service fee	744,179
Others	52,175	51,971
Total	5,328,839	4,456,302
Including:
Prepayments and other current assets	3,714,881	3,561,741	$ 1,834,031
Prepayments and other non-current assets	$ 1,613,958	$ 894,561	$ 846,708

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Accrued Expenses and Other Liabilities [Abstract]
Accrued contract expenses	$ 2.1	$ 3.7
Accrued contract loss	$ 2	$ 0.7

Accrued Expenses and Other Li_4

Accrued Expenses and Other Liabilities (Details) - Schedule of Accrued Expenses and Other Liabilities - USD ($)		Apr. 30, 2024	Oct. 31, 2023
Schedule of Accrued Expenses and Other Liabilities [Abstract]
Accrued expenses	[1]	$ 4,106,992	$ 4,421,644
Board compensation payable		75,000	75,000
Other payable		1,063,574	904,783
Accrued expenses and other liabilities		$ 5,245,566	$ 5,401,427

[1] The balance as of April 30, 2024 represented accrued contract expenses of approximately $2.1 million and accrued contract loss of approximately $2.0 million. The balance as of October 31, 2023 represented accrued contract expenses of approximately $3.7 million and accrued contract loss of approximately $0.7 million.

Bank Loans (Details)

Bank Loans (Details)		6 Months Ended
Bank Loans (Details)	Feb. 14, 2020 USD ($)	Apr. 30, 2024 USD ($)	Apr. 30, 2023 USD ($)	Oct. 31, 2023 USD ($)	Apr. 09, 2020 USD ($)	Apr. 09, 2020 SGD ($)
Bank Loans [Line Items]
Loan agreement period					5 years	5 years
Fixed interest rate					3%	3%
Loan balance		$ 1,037,176		$ 1,497,755
Interest expense		$ 19,952	$ 33,865
DBS Bank Ltd [Member]
Bank Loans [Line Items]
Loan agreement amount					$ 3,650,434	$ 5,000,000
Weighted average effective interest rate	3.10%
Bank Loans [Member]
Bank Loans [Line Items]
Effective interest rate		2.20%	3.90%
Revolving Credit Facility I [Member]
Bank Loans [Line Items]
Obtained revolving credit facility	$ 916,923

Bank Loans (Details) - Schedule

Bank Loans (Details) - Schedule of Bank Loan - USD ($)		Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Bank Loans (Details) - Schedule of Bank Loan [Line Items]
Total		$ 1,954,099	$ 2,414,678
Less: current maturity of long-term bank loan		955,904	937,457	$ 1,372,037
Long term of bank loans		998,195	1,477,221	$ 1,632,134
Loan from DBS Bank (due on May 13, 2025) [Member]
Bank Loans (Details) - Schedule of Bank Loan [Line Items]
Total	[1]	1,037,176	1,497,755
Revolving credit for keyman insurance [Member]
Bank Loans (Details) - Schedule of Bank Loan [Line Items]
Total	[2]	$ 916,923	$ 916,923

[1] On April 9, 2020, the Group signed a loan agreement with DBS Bank Ltd. to obtain a five On February 14, 2020, the Group obtained a revolving credit facility I (RCF I) from DBS Bank Ltd. of $916,923 and used to settle the premium of Insurance Policy. The weighted average effective interest rate is 3.1% for the six months ended April 30, 2024. The revolving credit facility is secured by way of first legal assignment of Insurance Policy of all rights, title, interests and benefits under and arising out of the Insurance Policy including all proceeds payable under the Insurance Policy and all proceeds of any repayment or refund of premium by the Insurer, with notification of the assignment to be served and acknowledged by the Insurer.

Bank Loans (Details) - Schedu_2

Bank Loans (Details) - Schedule of Repayment for Bank Loans - USD ($)	Apr. 30, 2024	Oct. 31, 2023
Schedule of Repayment For Bank Loans [Abstract]
2025	$ 955,904
2026	81,272
2027
2028
2029
Thereafter	916,923
Total	$ 1,954,099	$ 2,414,678

Convertible Notes (Details)

Convertible Notes (Details) - USD ($)	Aug. 06, 2024	Feb. 06, 2024	Jan. 31, 2024	Nov. 24, 2023	Sep. 16, 2024	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Convertible Notes [Line Items]
Investors’ fees				$ 7,000
Paying outstanding percentage				120%
Cash repayment		$ 70,014
Ordinary shares issued (in Shares)						54,289,579	52,774,579	52,774,579
Issuance			1,275,000
Convertible note						$ 1,573,735
Percentage of warrants equal			50%
Warrants exercise price per share (in Dollars per share)			$ 1
Other offering expenses payable			$ 1,000,000
2023 Convertible Note [Member]
Convertible Notes [Line Items]
Principal amount				$ 63,333
Convertible promissory note issue discount				10%
Convertible promissory note term				9 months
Conversion price per share (in Dollars per share)				$ 0.65
Proceeds from notes payable				$ 50,000
Issuance				57,000
Convertible note
Jan 2024 Convertible Notes [Member]
Convertible Notes [Line Items]
Principal amount			$ 1,500,000
Convertible promissory note issue discount			15%
Convertible promissory note term			18 months
Conversion price per share (in Dollars per share)			$ 1
Proceeds from notes payable			$ 1,000,000
Ordinary Shares [Member]
Convertible Notes [Line Items]
Ordinary shares issued (in Shares)		15,000
Forecast [Member]
Convertible Notes [Line Items]
Conversion price per share (in Dollars per share)					$ 0.1
Warrants by issuance of ordinary shares (in Shares)	300,000
Ordinary shares with fair value	$ 100,000
Repayment of cash consideration	$ 1,400,000
Convertible Promissory Note [Member]
Convertible Notes [Line Items]
Equity interest with fair value		$ 8,468

Convertible Notes (Details) - S

Convertible Notes (Details) - Schedule of Convertible Notes - USD ($)	Apr. 30, 2024	Oct. 31, 2023
Convertible Debt [Abstract]
Convertible notes	$ 1,573,735

Convertible Notes (Details) -_2

Convertible Notes (Details) - Schedule of Fair Value Determined the Binomial Option Pricing Model	Apr. 30, 2024	Feb. 06, 2024	Jan. 10, 2024	Nov. 24, 2023
Risk-free interest rate [Member]
Schedule of Fair Value Determined the Binomial Option Pricing Model [Line Items]
Fair value	5.08	5.05	4.49	5.22
Expected life [Member]
Schedule of Fair Value Determined the Binomial Option Pricing Model [Line Items]
Fair value	1.19	0.55	1.5	0.75
Discount rate [Member]
Schedule of Fair Value Determined the Binomial Option Pricing Model [Line Items]
Fair value	19.84	18.23	16.4	19.72
Expected volatility [Member]
Schedule of Fair Value Determined the Binomial Option Pricing Model [Line Items]
Fair value	85.23	76.21	87.79	83.14
Fair value [Member]
Schedule of Fair Value Determined the Binomial Option Pricing Model [Line Items]
Fair value	1,573,735	54,754	1,275,000	57,000

Convertible Notes (Details) -_3

Convertible Notes (Details) - Schedule of Reconciliation of the Beginning and Ending Balances	6 Months Ended
	Apr. 30, 2024 USD ($)
2023 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance
Issuance of convertible notes	57,000
Change in fair value of convertible notes	21,483
Cash repaid	(70,015)
Ordinary shares issued for convertible notes	(8,468)
Total
Jan 2024 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance
Issuance of convertible notes	1,275,000
Change in fair value of convertible notes	298,735
Total	$ 1,573,735

Lease (Details)

Lease (Details) - USD ($)	6 Months Ended
Lease (Details) - USD ($)	Apr. 30, 2024	Apr. 30, 2023
Lease [Abstract]
Total lease expense	$ 49,140	$ 11,601

Lease (Details) - Schedule of S

Lease (Details) - Schedule of Supplemental Balance Sheet Information Related to Operating Leases - USD ($)	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Schedule of Supplemental Balance Sheet Information Related to Operating Leases [Abstract]
Right-of-use assets, net	$ 160,578	$ 204,750	$ 189,039
Operating lease liabilities - current	92,636	90,585	124,500
Operating lease liabilities - non-current	63,249	109,492	$ 64,538
Total operating lease liabilities	$ 155,885	$ 200,077

Lease (Details) - Schedule of W

Lease (Details) - Schedule of Weighted Average Remaining Lease Terms and Discount Rates	Apr. 30, 2024
Schedule of Weighted Average Remaining Lease Terms and Discount Rates [Abstract]
Weighted average remaining lease term (years)	1 year 8 months 23 days
Weighted average discount rate	3.65%

Lease (Details) - Schedule of M

Lease (Details) - Schedule of Maturities of Lease Liabilities - USD ($)	Apr. 30, 2024	Oct. 31, 2023
Schedule of Maturities of Lease Liabilities [Abstract]
2025	$ 96,803
2026	64,242
Total future minimum lease payments	161,045
Less: imputed interest	5,160
Present value of lease liabilities	$ 155,885	$ 200,077

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions			1 Months Ended			6 Months Ended	12 Months Ended
Related Party Transactions (Details) $ in Millions	Jul. 11, 2024 shares	Apr. 24, 2024 shares	May 20, 2022 USD ($)	Apr. 20, 2022 USD ($)	Apr. 20, 2022 HKD ($)	Apr. 30, 2024 USD ($)	Oct. 31, 2023 USD ($)
Related Party Transaction [Line Items]
Ordinary shares (in Shares) \| shares		1,500,000
Working capital loan						$ 5,500,000
Payments for advance to affiliate						300,000
Total purchase price			$ 500,000
Payable balance						$ 1,715,839	$ 99,833
Total consideration				$ 16,200,000	$ 127
First payment of the consideration				30%	30%
Agreement terminated date						Feb. 02, 2024
Dr. Guohua Zhang [Member]
Related Party Transaction [Line Items]
Payable balance						$ 575,000	$ 2,030,479
New Galion [Member]
Related Party Transaction [Line Items]
Payable balance
Topsheen Shipping Limited [Member]
Related Party Transaction [Line Items]
Repaid value						$ 1,600,000
Forecast [Member]
Related Party Transaction [Line Items]
Ordinary shares (in Shares) \| shares	20,000,000
Percentage of outstanding shares	35.85%
Forecast [Member] \| Dr. Zhang [Member]
Related Party Transaction [Line Items]
Percentage of beneficial ownership	67.14%

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of Related Parties with Transactions and Related Party Relationships	6 Months Ended
	Apr. 30, 2024
Dr. Guohua Zhang [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Chief Executive Officer and Chairman of the Board	[1]
Shanghai Weisheng International Logistics Co., Ltd [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
Topsheen Shipping Limited [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
Nanjing Derun Shipping Co., Ltd. [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
Top Wisdom Shipping Management Co. Limited [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
Beijing Hanpu Technology Co., Ltd. [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
Max Bright Marine Service Co. Ltd. [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
Top Legend Shipping Co. Limited [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
Top Creation International (HK) Limited [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
Top Moral Shipping Limited [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by a shareholder of the Company
New Galion Group (HK) Co. Ltd (“New Galion”) [Member]
Schedule of Related Parties with Transactions and Related Party Relationships [Line Items]
Relationship to the Group	Controlled by Dr. Guohua Zhang

[1]Prior to July 11, 2024, Dr. Guohua Zhang (“Dr. Zhang”), the Chairman of the Board of Directors and then Chief Executive Officer and Interim Chief Financial Officer of the Company was the ultimate controlling shareholder of the Group, holding 67.14% beneficial ownership of Caravelle’s ordinary shares. On July 11, 2024, Dr. Zhang and an affiliate transferred 20,000,000 Ordinary Shares, representing 35.85% of the Company’s outstanding shares, to High-Trend. In connection therewith, Dr. Zhang resigned as Caravelle’s Chief Executive Officer and Interim Chief Financial Officer.

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of Due from Related Parties - USD ($)		Apr. 30, 2024	Oct. 31, 2023
Topsheen Shipping Limited [Member]
Related Party Transaction [Line Items]
Due from related parties	[1]	$ 983
Top Wisdom Shipping Management Co. Limited [Member]
Related Party Transaction [Line Items]
Due from related parties	[2]		4,183
Related Party [Member]
Related Party Transaction [Line Items]
Due from related parties		$ 983	$ 4,183

[1] The balances mainly represented prepayments to Topsheen Shipping Limited, which was utilized subsequently. The balances mainly represented accounts receivables from Top Wisdom Shipping Management Co. Limited. The balance as of October 31, 2023 has been collected during six months ended April 30, 2024.

Related Party Transactions (D_4

Related Party Transactions (Details) - Schedule of Due to Related Parties - USD ($)		Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Topsheen Shipping Limited [Member]
Related Party Transaction [Line Items]
Due to related parties	[1]	$ 5,442,810	$ 1,182,319
Shanghai Weisheng International Logistics Co., Ltd. [Member]
Related Party Transaction [Line Items]
Due to related parties		1,127	6,794
Beijing Hanpu Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Due to related parties	[2]	579,147	579,147
Dr. Guohua Zhang [Member]
Related Party Transaction [Line Items]
Due to related parties	[3]	1,715,839	2,030,479
New Galion [Member]
Related Party Transaction [Line Items]
Due to related parties			99,833
Related Party [Member]
Related Party Transaction [Line Items]
Due to related parties		$ 7,738,923	$ 3,898,572	$ 2,895,552

[1] The balances mainly represented the balance of advance payment made on behalf of the Group and loan from Topsheen Shipping Limited. For the six months ended April 30, 2024, Topsheen Shipping Limited provided a working capital loan $5.5 million and advance of $0.3 million to the Group. The Group repaid $1.6 million for the six months ended April 30, 2024. The remaining balance is unsecured, interest free and repayable on demand. As of April 30, 2024 and October 31, 2023, Dr. Guohua Zhang advanced $1,715,839 and $2,030,479 to pay certain expanse on behalf of the Group. The advances are non-interest bearing and due on demand. For the six months ended April 30, 2024, the balance payable to Dr. Guohua Zhang included $575,000 advance made by Dr. Guohua Zhang to Pacifico for the related general administrative expense incurred prior to the completion of SPAC Transaction.

Related Party Transactions (D_5

Related Party Transactions (Details) - Schedule of Services Provided by Related Parties - USD ($)		6 Months Ended
		Apr. 30, 2024	Apr. 30, 2023
Freight Costs [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[1]	$ 13,032,530	$ 21,371,505
Freight Costs [Member] \| Topsheen Shipping Limited [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[1]	9,195,145	17,501,563
Freight Costs [Member] \| Max Bright Marine Service Co. Ltd. [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[1]	2,516,981	1,529,205
Freight Costs [Member] \| Top Wisdom Shipping Management Co. Limited [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[1]	62,497	45,858
Freight Costs [Member] \| Top Creation International (HK) Limited [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[1]		958,744
Freight Costs [Member] \| Top Moral Shipping Limited [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[1]	1,257,907
Freight Costs [Member] \| Top Legend Shipping Co. Limited [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[1]		1,336,135
Transportation Services [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[2]	1,811,776	407,456
Transportation Services [Member] \| Topsheen Shipping Limited [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[2]	1,556,575	106,235
Transportation Services [Member] \| Shanghai Weisheng International Logistics Co., Ltd [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[2]	194,192	301,221
Transportation Services [Member] \| Nanjing Derun Shipping Co., Ltd. [Member]
Related Party Transaction [Line Items]
Services provided by related parties	[2]	$ 61,009

[1] The Group generally leased vessels or incurred the related freight costs with the above related parties. The Group generally provided transportation service to the above related parties.

Taxes (Details)

Taxes (Details) - USD ($)	6 Months Ended
Taxes (Details) - USD ($)	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Taxes [Abstract]
Tax percentage	27%
Income tax rate percentage	17%	17%
Exemption taxes decreased
Taxable profit	100%
Deferred tax assets

Taxes (Details) - Schedule of C

Taxes (Details) - Schedule of Components of Income Tax - USD ($)	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Schedule of Components of Income Tax [Abstract]
Current	$ 4,249	$ 3,618
Deferred	(110)	(1,076)
Total	$ 4,139	$ 2,542

Taxes (Details) - Schedule of D

Taxes (Details) - Schedule of Deferred Tax Assets - USD ($)	Apr. 30, 2024	Oct. 31, 2023
Deferred tax liability:
Depreciation for tangible assets	$ 107	$ 217
Total	$ 107	$ 217

Taxes (Details) - Schedule of G

Taxes (Details) - Schedule of Group’s Loss Before Income Taxes - USD ($)	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Schedule of Group’s Loss Before Income Taxes [Line Items]
Loss before income taxes	$ (239,869)	$ (7,048,491)
Non-Singapore [Member]
Schedule of Group’s Loss Before Income Taxes [Line Items]
Loss before income taxes	(1,400,322)	(1,054,197)
Singapore [Member]
Schedule of Group’s Loss Before Income Taxes [Line Items]
Loss before income taxes	$ 1,160,453	$ (5,994,294)

Taxes (Details) - Schedule of R

Taxes (Details) - Schedule of Reconciles the Singapore Statutory Rates to the Group’s Effective Tax Rate		6 Months Ended
		Apr. 30, 2024	Apr. 30, 2023
Schedule of Reconciles the Statutory Rates to the Group’s Effective Tax Rate [Abstract]
Singapore Statutory income tax rate		17%	17%
Differential of local statutory tax rate		(99.00%)	(4.20%)
Effect of preferential tax rate		88.90%	(14.50%)
Non-taxable income			1.70%
Non-deductible items and others	[1]	(8.60%)	(0.10%)
Effective tax rate		(1.70%)	(0.10%)

[1] Non-deductible items and others represent excess expenses and losses not deductible for Singapore tax purpose.

Taxes (Details) - Schedule of T

Taxes (Details) - Schedule of Taxes Payable - USD ($)	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Taxes Payable, Current [Abstract]
Income tax payable	$ 60,410	$ 56,161
Total taxes payable	$ 60,410	$ 56,161	$ 56,161

Equity (Details)

Equity (Details) - USD ($)					1 Months Ended		6 Months Ended			12 Months Ended
Equity (Details) - USD ($)		Apr. 24, 2024	Mar. 10, 2024	Dec. 27, 2023	Jan. 31, 2023	Dec. 30, 2022	Apr. 30, 2024		Apr. 30, 2023	Oct. 31, 2023	Oct. 31, 2022	Dec. 16, 2022
Shareholders' Equity [Line Items]
Ordinary shares, authorized (in Shares)							500,000,000		500,000,000	500,000,000
Ordinary shares, par value (in Dollars per share)							$ 0.0001		$ 0.0001	$ 0.0001
Ordinary shares, issued (in Shares)							54,289,579		52,774,579	52,774,579
Ordinary shares outstanding (in Shares)							54,289,579		50,000,000	52,774,579
Fair value of the conversion note							$ 8,468
Consulting agreement period		1 year	2 years
Share issue for consulting agreement (in Shares)			1,500,000
Fair value of consulting agreement							825,725
Fair value of ordinary share (in Shares)		1,500,000
Ordinary share price							5,430		$ 5,278	$ 5,278
Consulting expense							81,546
Consulting services							$ 2,256,054
Topsheen Samoa [Member]
Shareholders' Equity [Line Items]
Total dividends					$ 1,220,000	$ 2,000,000					$ 16,952,502
Dividends received						1,220,000					$ 8,289,902
Common Stock [Member]
Shareholders' Equity [Line Items]
Shares issued for convertible notes (in Shares)				15,000
SPAC [Member]
Shareholders' Equity [Line Items]
Ordinary shares, issued (in Shares)							52,774,579					2,719,579
Ordinary shares outstanding (in Shares)							52,774,579
Pacifico [Member]
Shareholders' Equity [Line Items]
Ordinary shares, issued (in Shares)												55,000
Promissory notes												$ 500,000
2022 Incentive Plan [Member]
Shareholders' Equity [Line Items]
Aggregate shares (in Shares)											3,349,520
Common Stock [Member]
Shareholders' Equity [Line Items]
Ordinary shares, issued (in Shares)		1,500,000										50,000,000
Ordinary shares outstanding (in Shares)	[1]						54,289,579		52,774,579	52,774,579	50,000,000
Shares issued for convertible notes (in Shares)	[1]						15,000
Fair value of the conversion note	[1]						$ 2
Share issue for consulting agreement (in Shares)			1,500,000				1,500,000	[1]
Fair value of consulting agreement			$ 800,100				$ 150	[1]
Fair value of ordinary share (in Shares)	[1]								2,719,579
Ordinary share price		$ 1,537,500
Non-controlling Shareholder [Member] \| Topsheen Samoa [Member]
Shareholders' Equity [Line Items]
Total dividends										$ 902,000
Dividends received					$ 122,000	$ 780,000					$ 8,662,600

[1] Shares and per share data are presented on a retroactive basis to give effect to the reverse recapitalization.

Restatement of Comparative Pe_3

Restatement of Comparative Period Figures (Details) - Schedule of Unaudited Condensed Consolidated Statement of Operation and Comprehensive Income - USD ($)		6 Months Ended
		Apr. 30, 2024	Apr. 30, 2023
Revenue
Total revenue		$ 34,855,545	$ 49,545,411
Cost of revenues		32,425,944	54,240,270
Gross profit (loss)		2,429,601	(4,694,859)
Operating expenses:
General and administrative expenses		2,285,953	2,103,319
Total operating expenses		2,285,953	2,103,319
Income (loss) from operations		143,648	(6,798,178)
Other (expense) income
Interest income		1,733	954
Interest expense			(57,038)
Other income (expense), net		(15,555)	(194,229)
Total other expense, net		(383,517)	(250,313)
Income (loss) before income taxes		(239,869)	(7,048,491)
Provision for income taxes		4,139	2,542
Net income (loss)		(244,008)	(7,051,033)
Less: Net income (loss) attributable to non-controlling interests		527,657	(2,732,234)
Net income (loss) attributable to the Company		(771,665)	(4,318,799)
Comprehensive income(loss)		(244,008)	(7,051,033)
Less: Comprehensive income (loss) attributable to non-controlling interests		527,657	(2,732,234)
Comprehensive income (loss) attributable to the Company		$ (771,665)	$ (4,318,799)
Earnings (loss)per share attributable to the Company - Basic (in Dollars per share)	[1]	$ (0.01)	$ (0.08)
Earnings (loss)per share attributable to the Company - Diluted (in Dollars per share)	[1]	$ (0.01)	$ (0.08)
Weighted Average Shares Outstanding - Basic (in Shares)	[1]	52,842,656	52,068,190
Weighted Average Shares Outstanding -Diluted (in Shares)	[1]	52,842,656	52,068,190
Ocean freight revenue [Member]
Revenue
Total revenue		$ 33,211,799	$ 49,330,293
Vessel service revenue [Member]
Revenue
Total revenue		$ 1,643,746	215,118
Previous reported {Member]
Revenue
Total revenue			45,102,136
Cost of revenues			41,713,652
Gross profit (loss)			3,388,484
Operating expenses:
General and administrative expenses			2,023,855
Total operating expenses			2,023,855
Income (loss) from operations			1,364,629
Other (expense) income
Interest income			942
Interest expense			(51,992)
Other income (expense), net			36,124
Total other expense, net			(14,926)
Income (loss) before income taxes			1,349,703
Provision for income taxes
Net income (loss)			1,349,703
Less: Net income (loss) attributable to non-controlling interests			611,750
Net income (loss) attributable to the Company			737,953
Comprehensive income(loss)			1,349,703
Less: Comprehensive income (loss) attributable to non-controlling interests			611,750
Comprehensive income (loss) attributable to the Company			$ 737,953
Earnings (loss)per share attributable to the Company - Basic (in Dollars per share)			$ 0.01
Earnings (loss)per share attributable to the Company - Diluted (in Dollars per share)			$ 0.01
Weighted Average Shares Outstanding - Basic (in Shares)			50,000,000
Weighted Average Shares Outstanding -Diluted (in Shares)			50,000,000
Previous reported {Member] \| Ocean freight revenue [Member]
Revenue
Total revenue			$ 45,093,336
Previous reported {Member] \| Vessel service revenue [Member]
Revenue
Total revenue			8,800
Effect of restatement [Member]
Revenue
Total revenue			4,443,275
Cost of revenues			12,526,618
Gross profit (loss)			(8,083,343)
Operating expenses:
General and administrative expenses			79,464
Total operating expenses			79,464
Income (loss) from operations			(8,162,807)
Other (expense) income
Interest income			12
Interest expense			(5,046)
Other income (expense), net			(230,353)
Total other expense, net			(235,387)
Income (loss) before income taxes			(8,398,194)
Provision for income taxes			2,542
Net income (loss)			(8,400,736)
Less: Net income (loss) attributable to non-controlling interests			(3,343,984)
Net income (loss) attributable to the Company			(5,056,752)
Comprehensive income(loss)			(8,400,736)
Less: Comprehensive income (loss) attributable to non-controlling interests			(3,343,984)
Comprehensive income (loss) attributable to the Company			$ (5,056,752)
Earnings (loss)per share attributable to the Company - Basic (in Dollars per share)			$ (0.09)
Earnings (loss)per share attributable to the Company - Diluted (in Dollars per share)			$ (0.09)
Weighted Average Shares Outstanding - Basic (in Shares)			2,068,190
Weighted Average Shares Outstanding -Diluted (in Shares)			2,068,190
Effect of restatement [Member] \| Ocean freight revenue [Member]
Revenue
Total revenue			$ 4,236,957
Effect of restatement [Member] \| Vessel service revenue [Member]
Revenue
Total revenue			$ 206,318

[1] Shares and per share data are presented on a retroactive basis to give effect to the reverse recapitalization

Restatement of Comparative Pe_4

Restatement of Comparative Period Figures (Details) - Schedule of Unaudited Condensed Consolidated Balance Sheet - USD ($)	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023	Oct. 31, 2022
Current Assets:
Cash and cash equivalents	$ 3,366,808	$ 2,219,973	$ 9,604,658
Accounts receivable	4,033,994	983,784	659,787
Prepayments and other current assets	3,714,881	3,561,741	1,834,031
Total Current Assets	11,116,666	6,769,681	12,098,476
Property and equipment, net	551,974	561,891	583,028
Prepayment and other non-current assets	1,613,958	894,561	846,708
Operating lease right of use asset, net	160,578	204,750	189,039
Total Assets	13,443,176	8,430,883	13,717,251
Current Liabilities:
Current maturity of long-term bank loan	955,904	937,457	1,372,037
Accounts payable	9,210	261,144	382,933
Advance from customers	3,400,000		4,108,908
Accrued expenses and other liabilities	5,245,566	5,401,427	1,618,406
Operating lease liability-current	92,636	90,585	124,500
Taxes payable	60,410	56,161	56,161
Total Current Liabilities	19,056,246	14,108,759	10,558,497
Long-term bank loans	998,195	1,477,221	1,632,134
Operating lease liability-noncurrent	63,249	109,492	64,538
Deferred tax liability	107	217	217
Total Liabilities	20,117,797	15,695,689	12,255,386
COMMITMENTS AND CONTINGENCIES
Total Equity (deficit):
Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 52,774,579 and 50,000,000 shares issued and outstanding at April 30, 2023	5,430	5,278	5,278
Additional paid-in capital			(457,183)
Retained earnings	(5,726,991)	(4,955,326)	57,899
Total Shareholders’ Equity (Deficit)	(5,344,703)	(5,407,231)	(394,006)
Non-controlling interest	(1,329,918)	(1,857,575)	1,855,871
Total Equity (Deficit)	(6,674,621)	(7,264,806)	1,461,865	$ 10,024,353
Total Liabilities and Equity (Deficit)	13,443,176	8,430,883	13,717,251
Related Party [Member]
Current Liabilities:
Due to related parties	$ 7,738,923	$ 3,898,572	2,895,552
Previously Reported [Member]
Current Assets:
Cash and cash equivalents			9,618,961
Accounts receivable			1,120,891
Prepayments and other current assets			20,247,842
Total Current Assets			30,987,694
Property and equipment, net			593,781
Prepayment and other non-current assets			1,513,809
Operating lease right of use asset, net
Total Assets			33,095,284
Current Liabilities:
Current maturity of long-term bank loan			290,835
Accounts payable			467,040
Advance from customers			14,646,609
Accrued expenses and other liabilities			2,695,541
Operating lease liability-current
Taxes payable			3,549
Total Current Liabilities			21,229,844
Long-term bank loans			2,491,167
Operating lease liability-noncurrent
Deferred tax liability			217
Total Liabilities			23,721,228
COMMITMENTS AND CONTINGENCIES
Total Equity (deficit):
Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 52,774,579 and 50,000,000 shares issued and outstanding at April 30, 2023			5,000
Additional paid-in capital			152,550
Retained earnings			3,114,651
Total Shareholders’ Equity (Deficit)			3,272,201
Non-controlling interest			6,101,855
Total Equity (Deficit)			9,374,056
Total Liabilities and Equity (Deficit)			33,095,284
Previously Reported [Member] \| Related Party [Member]
Current Liabilities:
Due to related parties			3,126,270
Revision of Prior Period, Adjustment [Member]
Current Assets:
Cash and cash equivalents			(14,303)
Accounts receivable			(461,104)
Prepayments and other current assets			(18,413,811)
Total Current Assets			(18,889,218)
Property and equipment, net			(10,753)
Prepayment and other non-current assets			(667,101)
Operating lease right of use asset, net			189,039
Total Assets			(19,378,033)
Current Liabilities:
Current maturity of long-term bank loan			1,081,202
Accounts payable			(84,107)
Advance from customers			(10,537,701)
Accrued expenses and other liabilities			(1,077,135)
Operating lease liability-current			124,500
Taxes payable			52,612
Total Current Liabilities			(10,671,347)
Long-term bank loans			(859,033)
Operating lease liability-noncurrent			64,538
Deferred tax liability
Total Liabilities			(11,465,842)
COMMITMENTS AND CONTINGENCIES
Total Equity (deficit):
Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 52,774,579 and 50,000,000 shares issued and outstanding at April 30, 2023			278
Additional paid-in capital			(609,733)
Retained earnings			(3,056,752)
Total Shareholders’ Equity (Deficit)			(3,666,207)
Non-controlling interest			(4,245,984)
Total Equity (Deficit)			(7,912,191)
Total Liabilities and Equity (Deficit)			(19,378,033)
Revision of Prior Period, Adjustment [Member] \| Related Party [Member]
Current Liabilities:
Due to related parties			$ (230,718)

Restatement of Comparative Pe_5

Restatement of Comparative Period Figures (Details) - Schedule of Unaudited Condensed Consolidated Balance Sheet (Parentheticals) - $ / shares	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	500,000,000	500,000,000	500,000,000
Ordinary shares, share issued	54,289,579	52,774,579	52,774,579
Ordinary shares, share outstanding	54,289,579	52,774,579	50,000,000
Previously Reported [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in Dollars per share)			$ 0.0001
Ordinary shares, shares authorized			500,000,000
Ordinary shares, share issued			52,774,579
Ordinary shares, share outstanding			50,000,000
Revision of Prior Period, Adjustment [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in Dollars per share)			$ 0.0001
Ordinary shares, shares authorized			500,000,000
Ordinary shares, share issued			52,774,579
Ordinary shares, share outstanding			50,000,000

Subsequent Events (Details)

Subsequent Events (Details) - Forecast [Member] - USD ($)			1 Months Ended
Subsequent Events (Details) - Forecast [Member] - USD ($)	Oct. 18, 2024	Sep. 16, 2024	Oct. 21, 2024	Sep. 23, 2024
Subsequent Events [Line Items]
Discount percentage for convertible promissory note		25%
Principal amount	$ 1,752,000	$ 3,548,000
Issuance discount	$ 438,000	$ 887,000
Conversion price per share (in Dollars per share)		$ 0.1
Converted shares (in Shares)			17,520,000	35,480,000
Discount convertible promissory note, percentage	25%
October 2024 Notes [Member]
Subsequent Events [Line Items]
Conversion price per share (in Dollars per share)	$ 0.1
Subsequent Event [Member]
Subsequent Events [Line Items]
Percentage of warrants funded amount		150%
Exercise price (in Dollars per share)		$ 0.166