Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Apr. 30, 2014
Oct. 31, 2013
Current assets:    
Cash and cash equivalents $ 617,719 $ 898,172
Short-term investment in certificates of deposit 2,050,000   
Accounts receivable 828,367 175,000
Prepaid expenses and other current assets 134,183 160,646
Total current assets 3,630,269 1,233,818
Investment in Videocon Industries Limited global depository receipts, at market value 3,977,452 4,197,341
Patents, net of accumulated amortization of $151,805 2,884,306   
Property and equipment, net of accumulated depreciation of $47,110 and $45,654 respectively 8,252 8,379
Total assets 10,500,279 5,439,538
Current liabilities:    
Accounts payable and accrued expenses 1,261,721 1,276,470
Royalties and contingent legal fees payable 482,546 207,743
Derivative liability, at fair value 2,750,000 540,000
Loan payable to related party 5,000,000   
Deferred revenue, non-refundable license fees 1,187,320 1,187,320
Total current liabilities 10,681,587 3,211,533
Contingencies (Note 10)    
Convertible debentures due, net of discount 1,627,497 548,598
Patent acquisition obligation 3,036,745  
Loan payable to related party    5,000,000
Shareholders’ deficiency:    
Preferred stock, par value $100 per share; 500,000 shares authorized; no shares issued or outstanding      
Common stock, par value $.01 per share; 600,000,000 shares authorized;219,422,190 and 209,276,745 shares issued and outstanding, respectively 2,194,222 2,092,767
Additional paid-in capital 140,207,396 134,750,048
Loan receivable from related party (5,000,000) (5,000,000)
Accumulated deficit (142,027,279) (135,163,408)
Accumulated other comprehensive (loss) (219,889)   
Total shareholders’ deficiency (4,845,550) (3,320,593)
Total liabilities and shareholders’ deficiency 10,500,279 5,439,538
Convertible Debentures Due November 2016 [Member]
    
Contingencies (Note 10)    
Convertible debentures due, net of discount 1,627,497   
Convertible Debenture Due January 2015 [Member]
    
Contingencies (Note 10)    
Convertible debentures due, net of discount    $ 548,598