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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
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Apr. 30, 2015
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Oct. 31, 2014
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| Current assets: | ||
| Cash and cash equivalents | $ 6,080,310us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 3,361,246us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Short-term investments in certificates of deposit | 2,400,000us-gaap_ShortTermInvestments | 2,500,000us-gaap_ShortTermInvestments |
| Accounts receivable | 400,000us-gaap_AccountsReceivableNetCurrent | |
| Prepaid expenses and other current assets | 42,526us-gaap_PrepaidExpenseAndOtherAssetsCurrent | 60,577us-gaap_PrepaidExpenseAndOtherAssetsCurrent |
| Total current assets | 8,522,836us-gaap_AssetsCurrent | 6,321,823us-gaap_AssetsCurrent |
| Patents, net of accumulated amortization of $477,101 and $314,453, respectively | 2,559,010itus_FiniteLivedPatentsNet | 2,721,658itus_FiniteLivedPatentsNet |
| Property and equipment, net of accumulated depreciation of $5,954 and $48,842 respectively | 51,119us-gaap_PropertyPlantAndEquipmentNet | 11,875us-gaap_PropertyPlantAndEquipmentNet |
| Total assets | 11,132,965us-gaap_Assets | 9,055,356us-gaap_Assets |
| Current liabilities: | ||
| Accounts payable and accrued expenses | 445,437us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent | 1,249,426us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent |
| Royalties and contingent legal fees payable | 243,239itus_RoyaltiesAndContingentLegalFeesPayable | 560,076itus_RoyaltiesAndContingentLegalFeesPayable |
| Total current liabilities | 688,676us-gaap_LiabilitiesCurrent | 1,809,502us-gaap_LiabilitiesCurrent |
| Patent acquisition obligation | 3,454,079itus_PatentAcquisitionObligation | 3,236,281itus_PatentAcquisitionObligation |
| Total liabilities | 4,142,755us-gaap_Liabilities | 5,045,783us-gaap_Liabilities |
| Shareholders’ equity: | ||
| Preferred stock | 350,000us-gaap_PreferredStockValue | 350,000us-gaap_PreferredStockValue |
| Common stock, par value $.01 per share; 600,000,000 shares authorized; 218,932,190 and 219,692,190 shares issued and outstanding, respectively | 2,189,322us-gaap_CommonStockValue | 2,196,922us-gaap_CommonStockValue |
| Additional paid-in capital | 147,705,061us-gaap_AdditionalPaidInCapital | 146,232,373us-gaap_AdditionalPaidInCapital |
| Accumulated deficit | (143,254,173)us-gaap_RetainedEarningsAccumulatedDeficit | (144,769,722)us-gaap_RetainedEarningsAccumulatedDeficit |
| Total shareholders’ equity | 6,990,210us-gaap_StockholdersEquity | 4,009,573us-gaap_StockholdersEquity |
| Total liabilities and shareholders’ equity | 11,132,965us-gaap_LiabilitiesAndStockholdersEquity | 9,055,356us-gaap_LiabilitiesAndStockholdersEquity |
| Preferred Stock [Member] | ||
| Shareholders’ equity: | ||
| Preferred stock | ||
| Total shareholders’ equity |
350,000us-gaap_StockholdersEquity / us-gaap_StatementEquityComponentsAxis = us-gaap_PreferredStockMember |
350,000us-gaap_StockholdersEquity / us-gaap_StatementEquityComponentsAxis = us-gaap_PreferredStockMember |
| Series A Preferred Stock [Member] | ||
| Shareholders’ equity: | ||
| Preferred stock |
$ 350,000us-gaap_PreferredStockValue / us-gaap_StatementClassOfStockAxis = us-gaap_SeriesAPreferredStockMember |
$ 350,000us-gaap_PreferredStockValue / us-gaap_StatementClassOfStockAxis = us-gaap_SeriesAPreferredStockMember |
| X | ||||||||||
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- Definition
Net carrying amount after accumulated amortization as of the balance sheet date of the costs pertaining to the exclusive legal rights granted to the owner of the patent to exploit an invention or a process for a period of time specified by law. Such costs may have been expended to directly apply and receive patent rights, or to acquire such rights. No definition available.
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- Definition
Patent acquisition obligation. No definition available.
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- Definition
Royalties and contingent legal fees payable. No definition available.
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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- Details
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