Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.8.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Oct. 31, 2017
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

$

3,079,282

 

$

-

 

$

-

 

$

3,079,282

Certificates of deposit -
    Short term investments

 

            -

 

 

3,500,000

 

 

-

 

 

3,500,000

Total financial assets

$

3,079,282

 

$

3,500,000

 

$

-

 

$

6,579,282

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

   

      

 

 

      

 

 

      

     

Money market funds –
   Cash and cash equivalents

$

1,899,136

 

$

-

 

$

-

 

$

1,899,136

Certificates of deposit -
    Short term investments

 

                -

 

 

750,000

 

 

-

 

 

750,000

Total financial assets

$

1,899,136

 

$

750,000

 

$

-

 

$

2,649,136

 

Level 1

 

Level 2

 

Level 3

 

Total

                       

Patent acquisition obligation

 

-

 

 

-

 

$

4,171,876

 

$

4,171,876

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

Patent acquisition obligation:

   

Balance October 31, 2015

$

3,688,187

Accretion of interest on patent obligation

 

519,946

Royalty payment applied to patent acquisition obligation

 

(36,257)

Balance October 31, 2016

 

4,171,876

Accretion of interest on patent obligation

 

228,026

Extinguishment of patent obligation

 

(4,399,902)

Balance October 31, 2017

$

-

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

For the Year

Ended October 31,

 
 

2017

2016

Weighted average fair value at grant date

$1.72

$2.84

Valuation assumptions:

   

Expected life (years)

5.63

5.70

Expected volatility

119.2%

181.1%

Risk-free interest rate

1.94%

1.26%

Expected dividend yield

0%

0%