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CONVERTIBLE DEBENTURES (Tables)
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12 Months Ended |
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Oct. 31, 2014
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| Convertible Debenture Due January 2015 [Member] | Convertible Debentures Embedded Conversion Feature [Member] |
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] |
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As of
January 25,
2013
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|
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Stock price on valuation date
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$
|
0.21
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Conversion price
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$
|
0.15
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|
Stock premium for liquidity
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|
57%
|
|
Term (years)
|
|
2.00
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|
Expected volatility
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|
110%
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Weighted average risk-free interest rate
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0.3%
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Trials
|
|
100,000
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|
Aggregate fair value
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$
|
1,180,000
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|
|
As of
October 31,
2013
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|
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Stock price on valuation date
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$
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0.195
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Conversion price
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0.15
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Stock premium for liquidity
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42%
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Term (years)
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|
1.25
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|
Expected volatility
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|
115%
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Weighted average risk-free interest rate
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|
0.3%
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|
Trials
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|
100,000
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|
Aggregate fair value
|
$
|
540,000
|
|
| Convertible Debenture Due January 2015 [Member] | Convertible Debenture Warrant [Member] |
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] |
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As of
January 25,
2013
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|
|
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Stock price on valuation date
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$
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0.21
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Exercise price
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$
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0.30
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Stock premium for liquidity
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|
38%
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Term (years)
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|
3.00
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Warrant exercise trigger price
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41%
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Expected volatility
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95%
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Weighted average risk-free interest rate
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0.4%
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Number of warrants
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|
5,882,745
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Aggregate fair value
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$
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370 ,000
|
|
| Convertible Debenture Due January 2015 [Member] |
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Convertible Debt [Table Text Block] |
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Face value of Convertible Debenture due January 2015
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|
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$
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1,765,000
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Fair value of embedded conversion feature
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$
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1,180,000
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|
|
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Relative fair value of Convertible Debenture Warrant
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|
214,819
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Discount
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$
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1,394,819
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(1,394,819)
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Proceeds attributable to the Convertible Debenture due January 2015
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|
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$
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370,181
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| Schedule of Debt Issuance Cost [Table Text Block] |
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Attributable to:
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Accounting Treatment
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Amount
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The embedded conversion feature (derivative)
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Expensed as incurred
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$
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55,999
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The 8% Convertible Debenture Warrant
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Charged to additional paid-in capital
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10,194
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The 8% Convertible Debenture
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Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture
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17,567
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Total
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$
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83,760
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| Convertible Debenture Due November 2016 [Member] | Convertible Debentures Embedded Conversion Feature [Member] |
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] |
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|
As of
November 11,
2013
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|
|
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Stock price on valuation date
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$
|
0.20
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Conversion price
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$
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0.189
|
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Discount for lack of marketability
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35.5%
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Term (years)
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|
3.00
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Expected volatility
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102.8%
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Weighted average risk-free interest rate
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0.62%
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Trials
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|
100,000
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Aggregate fair value
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$
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1,570,000
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|
| Convertible Debenture Due November 2016 [Member] |
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Convertible Debt [Table Text Block] |
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Face value of Convertible Debenture due November 2016
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|
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$
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3,500,000
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Fair value of embedded conversion feature
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$
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1,570,000
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|
|
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Relative fair value of Convertible Debenture Warrant
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515,936
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Discount
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$
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2,085,936
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(2,085,936)
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Proceeds attributable to the Convertible Debenture due November 2016
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|
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$
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1,414,064
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| Schedule of Debt Issuance Cost [Table Text Block] |
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Attributable to:
|
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Accounting Treatment
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Amount
|
|
|
|
|
|
|
|
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The embedded conversion feature (derivative)
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Expensed as incurred
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$
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8,593
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The 8% Convertible Debenture Warrant
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Charged to additional paid-in capital
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2,824
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The 8% Convertible Debenture
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Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture
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7,739
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Total
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$
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19,156
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| Convertible Debenture Due January 2015 [Member] |
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block] |
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|
As of
April 30,
2014
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|
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Stock price used for valuation
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$
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0.34
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6,667 shares issued per $1,000 face value
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Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment
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$
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1,456,797
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|
| Convertible Debenture Due November 2016 [Member] |
|
| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
|
| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block] |
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On September 9,
2014
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Stock price used for valuation
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$
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0.245
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5,285 shares issued per $1,000 of face value
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Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion
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4,532,241
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Less the face value of the convertible debenture
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(3,500,000)
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Intrinsic value of the derivative conversion feature
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$
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1,032,241
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|
| Convertible Debenture Due January 2015 [Member] |
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Schedule of Extinguishment of Debt [Table Text Block] |
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Year Ended
October 31,
2014
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Year Ended
October 31,
2013
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Face value of debt converted
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$
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1,440,000
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$
|
325,000
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Less: discount
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(658,232)
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(229,964)
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Plus: fair value of derivative liability
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1,670,704
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164,811
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Net book value of debt converted
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$
|
2,452,472
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$
|
259,847
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Fair value of common stock issued
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|
2,935,387
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|
|
603,364
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Loss on extinguishment of debt
|
$
|
(482,915)
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|
$
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(343,517)
|
|
| Convertible Debenture Due November 2016 [Member] |
|
| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
|
| Schedule of Extinguishment of Debt [Table Text Block] |
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Securities extinguished:
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|
|
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Face value of convertible debenture converted
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$
|
3,500,000
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|
Less: debt discount
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(1,684,801)
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Less: deferred issuance costs
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(7,739)
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Plus: accrued interest
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|
173,833
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Plus: fair value of derivative liability
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|
1,032,241
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Plus: fair value of warrant exchanged in connection with the conversion
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|
805,000
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Net book value of converted debenture, accrued interest, derivative liability and warrant exchanged
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3,818,534
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Securities issued in conversion/exchange:
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Fair value of 2,520,000 shares of common stock issued, net (18,498,943 shares of Conversion Common Stock issued, less 15,978,943 shares exchanged for 3,500 shares of Series A Convertible Preferred Stock)
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|
617,400
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Fair value of 3,500 shares of Series A Convertible Preferred Stock (based on a stated value per share of $1,000 and a conversion rate of $0.1892)
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|
4,532,241
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Fair value of warrant issued September 9, 2014
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|
885,000
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Subtotal of securities issued in conversion/exchange
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|
6,034,641
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(Loss) on conversion/exchange
|
$
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(2,216,107)
|
|
| Convertible Debenture Warrant [Member] |
|
| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
|
| Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] |
|
|
As of
November 11,
2013
|
|
|
|
|
Stock price on valuation date
|
$
|
0.20
|
|
Exercise price
|
$
|
0.378
|
|
Discount for lack of marketability
|
|
22%
|
|
Term (years)
|
|
3.00
|
|
|
|
|
|
Expected volatility
|
|
102.8%
|
|
Weighted average risk-free interest rate
|
|
0.6%
|
|
Number of warrants
|
|
9,249,472
|
|
Aggregate fair value
|
$
|
740,000
|
|