|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)
|
12 Months Ended | |
|---|---|---|
|
Oct. 31, 2014
|
Oct. 31, 2013
|
|
| Revenue: | ||
| Revenue from patent assertion activities | $ 2,480,000itus_RevenueFromPatentAssertionActivities | $ 388,850itus_RevenueFromPatentAssertionActivities |
| Amortization of display technology development and license fees received from AU Optronics Corp. in fiscal year 2011 | 1,187,320us-gaap_LicenseAndServicesRevenue | |
| Total revenue | 3,667,320us-gaap_SalesRevenueNet | 388,850us-gaap_SalesRevenueNet |
| Operating costs and expenses: | ||
| Inventor royalties and contingent legal fees | 1,412,661us-gaap_RoyaltyExpense | 207,743us-gaap_RoyaltyExpense |
| Litigation and licensing expenses | 575,413itus_LitigationAndLicensingExpenses | 108,915itus_LitigationAndLicensingExpenses |
| Amortization of patents | 314,453us-gaap_AmortizationOfIntangibleAssets | |
| Marketing, general and administrative expenses (including non-cash stock option compensation expense of $3,149,799 and $3,798,139, respectively) | 6,408,861us-gaap_SellingGeneralAndAdministrativeExpense | 7,989,846us-gaap_SellingGeneralAndAdministrativeExpense |
| Total operating costs and expenses | 8,711,388us-gaap_CostsAndExpenses | 8,306,504us-gaap_CostsAndExpenses |
| Loss from operations | (5,044,068)us-gaap_OperatingIncomeLoss | (7,917,654)us-gaap_OperatingIncomeLoss |
| Impairment in value of Videocon Industries Limited global depository receipts | (62,825)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments | (1,184,710)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments |
| Change in value of derivative liability | (592,945)us-gaap_DerivativeGainLossOnDerivativeNet | 475,189us-gaap_DerivativeGainLossOnDerivativeNet |
| Loss on extinguishment of debt (Note 6) | (2,699,022)us-gaap_GainsLossesOnExtinguishmentOfDebt | (343,517)us-gaap_GainsLossesOnExtinguishmentOfDebt |
| Interest expense | (1,263,617)us-gaap_InterestExpense | (1,109,519)us-gaap_InterestExpense |
| Dividend income | 47,568us-gaap_InvestmentIncomeDividend | |
| Interest income | 8,595us-gaap_InvestmentIncomeInterest | 125us-gaap_InvestmentIncomeInterest |
| Loss before income taxes | (9,606,314)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments | (10,080,086)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments |
| Provision for income taxes (Note 9) | ||
| Net loss | (9,606,314)us-gaap_NetIncomeLoss | (10,080,086)us-gaap_NetIncomeLoss |
| Net loss per share: | ||
| Basic and diluted (in Dollars per share) | $ (0.04)us-gaap_EarningsPerShareBasicAndDiluted | $ (0.05)us-gaap_EarningsPerShareBasicAndDiluted |
| Weighted average common shares outstanding: | ||
| Basic and diluted (in Shares) | 217,771,673us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted | 196,645,962us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
| Other comprehensive income: | ||
| Reversal of unrealized loss as of October 31, 2012, on investment in Videocon Industries Limited global depository receipts | 653,684itus_ReversalOfOtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax | |
| Comprehensive loss | $ (9,606,314)us-gaap_ComprehensiveIncomeNetOfTax | $ (9,426,402)us-gaap_ComprehensiveIncomeNetOfTax |
| X | ||||||||||
|
- Definition
Litigation and licensing expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from patent assertion activities. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax, before reclassification adjustments, of reversal of unrealized holding gain (loss) on available-for-sale securities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of dividend income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenue from multiple-deliverable arrangements that include licensing fees and services revenue. Licensing revenue is consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Services revenue may be derived by providing other, nonspecified, services during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
|