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FAIR VALUE MEASUREMENTS (Details) - Changes in the fair value of the Company's Level 3 financial liabilities measured at fair value (USD $)
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6 Months Ended | 12 Months Ended | |
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Apr. 30, 2015
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Apr. 30, 2014
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Oct. 31, 2014
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| Changes in the fair value of the Company's Level 3 financial liabilities measured at fair value [Abstract] | |||
| Balance October 31, 2013 | $ 3,236,281us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue | ||
| Initial fair value, discounted to present value | 2,850,511us-gaap_TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfLiabilitiesIncurred | ||
| Amortized interest on patent obligation | 217,798itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense | 186,234itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense | 385,770itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense |
| Balance | $ 3,454,079us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue | $ 3,236,281us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue | |
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- Definition
Accretion of interest on patent acquisition obligations to interest expense. No definition available.
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- Details
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- Definition
Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the initial fair value recorded for liabilities incurred on transfer of financial assets in a securitization, asset-backed financing arrangement, or a similar transfer which transaction is recognized as a sale of the transferred financial assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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