|
SUBSEQUENT EVENTS (Tables)
|
9 Months Ended |
|
Jul. 31, 2014
|
| SUBSEQUENT EVENTS (Tables) [Line Items] |
|
| Schedule of Extinguishment of Debt [Table Text Block] |
|
|
|
For the
Nine Months Ended July 31, 2014
|
|
Face value of debt converted and/or prepaid
|
$
|
1,440,000
|
|
Less: discount
|
|
(658,232)
|
|
Plus: value of derivative liability
|
|
1,670,704
|
|
Net book value of debt converted
|
$
|
2,452,472
|
|
Fair value of Common stock and cash issued
|
|
2,935,387
|
|
Loss on extinguishment of debt
|
$
|
482,915
|
|
|
|
|
|
|
| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block] |
|
|
As of
April 30,
2014
|
|
|
|
|
Stock price used for valuation
|
$
|
0.34
|
|
|
|
6,667 shares issued per $1,000 face value
|
|
Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment
|
$
|
1,456,797
|
|
|
|
|
|
|
Convertible Debentures Due November 2016 [Member]
|
|
| SUBSEQUENT EVENTS (Tables) [Line Items] |
|
| Schedule of Extinguishment of Debt [Table Text Block] |
|
|
Conversion Common
Stock
|
|
Securities extinguished:
|
|
Face value of convertible debenture converted
|
$
|
3,500,000
|
|
Less: debt discount
|
|
(1,693,785)
|
|
Plus: accrued interest
|
|
173,521
|
|
Plus: fair value of derivative liability
|
|
1,032,241
|
|
Plus: fair value of warrant exchanged in connection with the conversion
|
|
1,270,000
|
|
Net book value of converted debenture, accrued interest, derivative liability and warrant exchanged
|
|
4,281,977
|
|
Securities issued in conversion/exchange:
|
|
|
|
Fair value of common stock issued
|
|
4,532,241
|
|
Fair value of warrant issued September 9, 2014
|
|
1,332,000
|
|
Subtotal of securities issued in conversion/exchange
|
|
5,864,241
|
|
(Loss) on conversion/exchange
|
$
|
(1,582,264)
|
|
| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block] |
|
|
On September 9,
2014
|
|
|
|
|
Stock price used for valuation
|
$
|
0.25
|
|
|
|
5,285 shares issued per $1,000 face value
|
|
Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion
|
|
4,532,241
|
|
Less the face value of the convertible debenture
|
|
(3,500,000)
|
|
Intrinsic value of the derivative conversion feature
|
$
|
1,032,241
|
|