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CONVERTIBLE DEBENTURES (Tables)
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9 Months Ended |
12 Months Ended |
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Jul. 31, 2014
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Oct. 31, 2013
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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|
| Convertible Debt [Table Text Block] |
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Face value of Convertible Debenture due November 2016
|
|
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$
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3,500,000
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|
Fair value of embedded conversion feature
|
$
|
1,570,000
|
|
|
|
|
Relative fair value of Convertible Debenture Warrant
|
|
515,936
|
|
|
|
|
Discount
|
$
|
2,085,936
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|
|
(2,085,936)
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|
Proceeds attributable to the Convertible Debenture due November 2016
|
|
|
|
$
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1,414,064
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|
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Face value of Convertible Debenture due January 2015
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|
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$1,765,000
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|
Fair value of embedded conversion feature
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$1,180,000
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|
|
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Relative fair value of Convertible Debenture Warrant
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214,819
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|
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Discount
|
$1,394,819
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(1,394,819)
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|
|
|
|
|
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Proceeds attributable to the Convertible Debenture due January 2015
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|
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$370,181
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| Schedule of Extinguishment of Debt [Table Text Block] |
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For the
Nine Months Ended July 31, 2014
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Face value of debt converted and/or prepaid
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$
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1,440,000
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Less: discount
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(658,232)
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Plus: value of derivative liability
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|
1,670,704
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Net book value of debt converted
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$
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2,452,472
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Fair value of Common stock and cash issued
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|
2,935,387
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|
Loss on extinguishment of debt
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$
|
482,915
|
|
|
|
|
|
|
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Year Ended
|
|
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October 31, 2013
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|
Face value of debt converted
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$ 325,000
|
|
Less: discount
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(229,964)
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|
Plus: value of derivative liability
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164,811
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Net book value of debt converted
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$ 259,847
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Fair value of common stock issued
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603,364
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Loss on extinguishment of debt
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$ 343,517
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| Schedule of Debt Issuance Cost [Table Text Block] |
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Attributable to:
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Accounting Treatment
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Amount
|
|
|
|
|
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The embedded conversion feature (derivative)
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Expensed as incurred
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$
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8,593
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The 8% Convertible Debenture Warrant
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Charged to additional paid-in capital
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|
|
2,824
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|
|
|
|
|
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The 8% Convertible Debenture
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Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture
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|
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7,739
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Total
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|
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$
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19,156
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Attributable to:
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Accounting Treatment
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Amount
|
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The embedded conversion feature (derivative)
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Expensed as incurred
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$ 55,999
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The 8% Convertible Debenture Warrant
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Charged to additional paid-in capital
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10,194
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The 8% Convertible Debenture
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Recorded as deferred issuance costs and amortized under the interest method over the term of the 8% Convertible Debenture
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17,567
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Total
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$ 83,760
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| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block] |
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As of
April 30,
2014
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Stock price used for valuation
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$
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0.34
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|
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6,667 shares issued per $1,000 face value
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Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment
|
$
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1,456,797
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|
|
|
|
|
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Embedded Conversion Feature Derivative [Member]
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|
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] |
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As of
January 25,
2013
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Stock price on valuation date
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$ 0.21
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Conversion price
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$ 0.15
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Stock premium for liquidity
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57%
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Term (years)
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|
2.00
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Expected volatility
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110%
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Weighted average risk-free interest rate
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0.3%
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Trials
|
|
100,000
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Aggregate fair value
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|
$ 1,180,000
|
|
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As of
October 31, 2013
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Stock price on valuation date
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$ 0.195
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Conversion price
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$ 0.15
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Stock premium for liquidity
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42%
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Term (years)
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|
1.25
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Expected volatility
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115%
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Weighted average risk-free interest rate
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0.3%
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Trials
|
|
100,000
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Aggregate fair value
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|
$ 540,000
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Convertible Debenture Warrant [Member]
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|
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] |
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As of
January 25,
2013
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Stock price on valuation date
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$ 0.21
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Exercise price
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$ 0.30
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Stock premium for liquidity
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38%
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Term (years)
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|
3.00
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Warrant exercise trigger price
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41%
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Expected volatility
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95%
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Weighted average risk-free interest rate
|
|
0.4%
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Number of warrants
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|
5,882,745
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Aggregate fair value
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|
$ 370,000
|
|
|
Embeded Derivatives Conversion Features [Member]
|
|
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| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
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| Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] |
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|
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As of
November 11,
2013
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Stock price on valuation date
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$
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0.20
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Conversion price
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$
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0.189
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Discount for lack of marketability
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35.5%
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Term (years)
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3.00
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Expected volatility
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102.8%
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Weighted average risk-free interest rate
|
|
0.62%
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Trials
|
|
100,000
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Aggregate fair value
|
$
|
1,570,000
|
|
|
|
|
|
|
|
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As of
July 31,
2014
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|
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Stock price used for valuation
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$
|
0. 260
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Conversion price
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|
0.189
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Discount for lack of marketability
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36.3%
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Term (years)
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2.3
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Expected volatility
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100.6%
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Weighted average risk-free interest rate
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0.78%
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Trials
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|
100,000
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Aggregate fair value
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$
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1,900,000
|
|
|
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Convertible Debenture Warrant [Member]
|
|
|
| CONVERTIBLE DEBENTURES (Tables) [Line Items] |
|
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| Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] |
|
|
|
|
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As of
November 11,
2013
|
|
|
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Stock price on valuation date
|
$
|
0.20
|
|
Exercise price
|
$
|
0.378
|
|
Discount for lack of marketability
|
|
22%
|
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Term (years)
|
|
3.00
|
|
|
|
|
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Expected volatility
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102.8%
|
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Weighted average risk-free interest rate
|
|
0.6%
|
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Number of warrants
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|
9,249,472
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|
Aggregate fair value
|
$
|
740,000
|
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