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SUBSEQUENT EVENTS (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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| SUBSEQUENT EVENTS (Tables) [Line Items] |
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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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$
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482,915
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|
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|
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|
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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
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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 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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|
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Stock price used for valuation
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$
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0.34
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6,667 shares issued per $1,000 face value
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Aggregate intrinsic value of the $1,150,000 of principal outstanding on April 30, 2014, immediately prior to conversion and repayment
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$
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1,456,797
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Convertible Debenture Due November 2016 [Member]
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| SUBSEQUENT EVENTS (Tables) [Line Items] |
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| Schedule of Extinguishment of Debt [Table Text Block] |
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Conversion Common
Stock
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Securities extinguished:
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Face value of convertible debenture converted
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$
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3,500,000
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Less: debt discount
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(1,693,785)
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Plus: accrued interest
|
|
173,521
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Plus: fair value of derivative liability
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1,032,241
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Plus: fair value of warrant exchanged in connection with the conversion
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1,270,000
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Net book value of converted debenture, accrued interest, derivative liability and warrant exchanged
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4,281,977
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Securities issued in conversion/exchange:
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|
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Fair value of common stock issued
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4,532,241
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Fair value of warrant issued September 9, 2014
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1,332,000
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Subtotal of securities issued in conversion/exchange
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5,864,241
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(Loss) on conversion/exchange
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$
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(1,582,264)
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|
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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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On September 9,
2014
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Stock price used for valuation
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$
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0.25
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5,285 shares issued per $1,000 face value
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Aggregate gross intrinsic value of the $3,500,000 of principal outstanding on September 8, 2014, immediately prior to conversion
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4,532,241
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Less the face value of the convertible debenture
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(3,500,000)
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Intrinsic value of the derivative conversion feature
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$
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1,032,241
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