Coda Octopus Group, Inc.

Coda Octopus Group, Inc. ( Coda the Company or we ), through its wholly owned subsidiaries, operates three distinct segments: the Marine Technology Business (also referred to in this Form 10-K as Products Business , or Products Segment or Core Business ); Acoustic Sensors and Materials Business (also referred to in this Form 10-K as PAL ); the Defense Engineering Services Business (also referred to in this Form 10-K as Engineering Business , or Engineering Segment or Services Business ). Marine Technology Business Our Marine Technology Business provides technology solutions to the underwater market and constitutes our core business. We are allocating most of our resources to this segment. It owns key proprietary and unique technology comprising its real time volumetric imaging sonar technology (Echoscope technology) and diving technology ( DAVD (Diver Augmented Vision Display)), both of which are intended for the underwater market, and which are used in the commercial offshore and defense sectors. It also sells other proprietary subsea products such as its geophysical hardware and software solutions, inertial navigation systems and digital audio communications system for underwater applications. All innovations, design, development and manufacturing of our products are performed within the Company. As part of our patent strategy, we endeavor to actively protect our innovations by seeking, where appropriate, patent protection.