Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Oct. 31, 2015

Accounting Policies [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]


	Level 1		Level 2		Level 3		Total
Money market funds – Cash and cash equivalents	$ 467,967		$ -		$ -		$ 467,967
Certificates of deposit - Short term investments	-		2,400,000		-		2,400,000
Total financial assets	$ 467,967		$ 2,400,000		$ -		$ 2,867,967


	Level 1		Level 2		Level 3		Total
Money market funds – Cash and cash equivalents	$ 155,964		$ -		$ -		$ 155,964
Certificates of deposit - Short term investments	-		2,500,000		-		2,500,000
Total financial assets	$ 155,964		$ 2,500,000		$ -		$ 2,655,964


	Level 1			Level 2			Level 3			Total

Patent acquisition obligation		-			-		$	3,688,187		$	3,688,187


	Level 1			Level 2			Level 3			Total

Patent acquisition obligation		-			-		$	3,236,281		$	3,236,281

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	For the two years ended October 31, 2015
Patent acquisition obligation:
Balance October 31, 2013	$	-
Initial fair value		2,850,511
Accretion of interest on patent obligation		385,770
Balance October 31, 2014		3,236,281
Accretion of interest on patent obligation		451,906
Balance October 31, 2015	$	3,688,187

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]


	For the Year Ended October 31,
	2015	2014
Weighted average fair value at grant date	$3.09	$5.75
Valuation assumptions:
Expected life ( years)	5.75	5.80
Expected volatility	117.8%	115.3%
Risk-free interest rate	2.01%	1.82%
Expected dividend yield	0	0