Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Apr. 30, 2015

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

	Level 1		Level 2		Level 3		Total

Money market funds – Cash and cash equivalents	$	5,018,602	$	-	$	-	$	5,018,602
Certificates of deposit - Short term investments		-		2,400,000		-		2,400,000
Total financial assets	$	5,018,602	$	2,400,000	$	-	$	7,418,602

	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	$	2,655,964	$	2,500,000	$	-	$	2,655,964

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

	Level 1		Level 2		Level 3		Total

Patent acquisition obligation	$	-	$	-	$	3,454,079	$	3,454,079
	$	-	$	-	$	3,454,079	$	3,454,079

	Level 1		Level 2		Level 3		Total

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

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

Patent acquisition obligation
Balance October 31, 2013	$	-
Initial fair value, discounted to present value		2,850,511
Accreted interest on patent obligation		385,770
Balance October 31, 2014		3,236,281
Accreted interest on patent obligation		217,798
Balance April 30, 2015	$	3,454,079

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References + Details

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References + Details