Post-effective amendment to a registration statement that is not immediately effective upon filing

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended 12 Months Ended
Jan. 31, 2015
Jan. 31, 2014
Oct. 31, 2014
Oct. 31, 2013
Reconciliation of net loss to net cash used in operating activities:        
Net loss $ 3,752,220us-gaap_NetIncomeLoss $ (3,614,428)us-gaap_NetIncomeLoss $ (9,606,314)us-gaap_NetIncomeLoss $ (10,080,086)us-gaap_NetIncomeLoss
Stock option compensation to employees and consultants 491,779us-gaap_StockOptionPlanExpense 720,638us-gaap_StockOptionPlanExpense      
Stock option compensation to employees       2,127,719us-gaap_ShareBasedCompensation 2,693,121us-gaap_ShareBasedCompensation
Stock option compensation to consultants       1,022,080itus_StockOptionCompensationToConsultants 1,105,018itus_StockOptionCompensationToConsultants
Common stock issued to consultants 4,000us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 28,348us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 84,698us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 304,685us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Change in value of derivative liability    1,320,000us-gaap_DerivativeGainLossOnDerivativeNet 592,945us-gaap_DerivativeGainLossOnDerivativeNet (475,189)us-gaap_DerivativeGainLossOnDerivativeNet
Loss on extinguishment of debt       2,699,022us-gaap_GainsLossesOnExtinguishmentOfDebt 343,517us-gaap_GainsLossesOnExtinguishmentOfDebt
Accrued interest reversed on conversion of convertible debenture       173,833itus_DebtInstrumentDecreaseAccruedInterest   
Amortization of convertible debenture discount charge to interest expense    217,316us-gaap_AmortizationOfDebtDiscountPremium 634,267us-gaap_AmortizationOfDebtDiscountPremium 991,180us-gaap_AmortizationOfDebtDiscountPremium
Impairment in value of investment in Videocon Industries Limited GDR’s       62,825us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments 1,184,710us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
Amortization of patents 81,324us-gaap_AmortizationOfIntangibleAssets 70,481us-gaap_AmortizationOfIntangibleAssets 314,453us-gaap_AmortizationOfIntangibleAssets   
Amortized interest on patent acquisition obligations charged to interest expense 109,186itus_AmortizedInterestOnPatentAcquisitionObligationsToInterestExpense 86,466itus_AmortizedInterestOnPatentAcquisitionObligationsToInterestExpense 385,770itus_AmortizedInterestOnPatentAcquisitionObligationsToInterestExpense   
Common stock issued to pay interest on convertible debentures    28,800us-gaap_PaidInKindInterest 61,778us-gaap_PaidInKindInterest 98,739us-gaap_PaidInKindInterest
Common stock issued to acquire patent license     16,400us-gaap_StockIssuedDuringPeriodValueAcquisitions 42,000us-gaap_StockIssuedDuringPeriodValueAcquisitions
Other 7,656us-gaap_OtherNoncashIncomeExpense (2,096)us-gaap_OtherNoncashIncomeExpense 38,225us-gaap_OtherNoncashIncomeExpense 9,753us-gaap_OtherNoncashIncomeExpense
Change in operating assets and liabilities:        
Accounts receivable 355,000us-gaap_IncreaseDecreaseInAccountsReceivable 175,000us-gaap_IncreaseDecreaseInAccountsReceivable (225,000)us-gaap_IncreaseDecreaseInAccountsReceivable (175,000)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other current assets (5,922)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 19,347us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 100,069us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (78,320)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable and accrued expenses 152,219us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (60,045)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (27,044)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 641,331us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Royalties and contingent legal fees payable (294,368)itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable (161,858)itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable 352,333itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable 207,743itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable
Deferred revenue       (1,187,320)us-gaap_IncreaseDecreaseInDeferredRevenue   
Net cash used in operating activities 4,653,094us-gaap_NetCashProvidedByUsedInOperatingActivities (1,172,031)us-gaap_NetCashProvidedByUsedInOperatingActivities (2,379,261)us-gaap_NetCashProvidedByUsedInOperatingActivities (3,186,798)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:        
Disbursements to acquire short-term investments in certificates of deposit (650,000)us-gaap_PaymentsToAcquireShortTermInvestments (2,700,000)us-gaap_PaymentsToAcquireShortTermInvestments (5,200,000)us-gaap_PaymentsToAcquireShortTermInvestments (250,000)us-gaap_PaymentsToAcquireShortTermInvestments
Proceeds from maturities of short-term investments in certificates of deposit 500,000us-gaap_ProceedsFromSaleOfShortTermInvestments 250,000us-gaap_ProceedsFromSaleOfShortTermInvestments 2,700,000us-gaap_ProceedsFromSaleOfShortTermInvestments 750,000us-gaap_ProceedsFromSaleOfShortTermInvestments
Payments for purchases of property and equipment (54,776)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment         
Other       (6,684)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (676)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash (used in) provided by investing activities (204,776)us-gaap_NetCashProvidedByUsedInInvestingActivities (2,450,000)us-gaap_NetCashProvidedByUsedInInvestingActivities (2,506,684)us-gaap_NetCashProvidedByUsedInInvestingActivities 499,324us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:        
Proceeds from issuance of convertible debentures    3,500,000us-gaap_ProceedsFromConvertibleDebt 3,500,000us-gaap_ProceedsFromConvertibleDebt 1,765,000us-gaap_ProceedsFromConvertibleDebt
Proceeds from sale of common stock, net of expense       3,673,135us-gaap_ProceedsFromIssuanceOfCommonStock 1,050,405us-gaap_ProceedsFromIssuanceOfCommonStock
Proceeds from exercise of warrants to purchase common stock       300,009us-gaap_ProceedsFromWarrantExercises 380,800us-gaap_ProceedsFromWarrantExercises
Proceeds from exercise of employee stock options       75,875us-gaap_ProceedsFromStockOptionsExercised 25,610us-gaap_ProceedsFromStockOptionsExercised
Proceeds received on sale of common stock held by ZQX Advisors, LLC       3,673,135us-gaap_ProceedsFromIssuanceOfCommonStock 1,050,405us-gaap_ProceedsFromIssuanceOfCommonStock
Payments to redeem convertible securities       (200,000)us-gaap_RepaymentsOfConvertibleDebt   
Net cash provided by financing activities    3,500,000us-gaap_NetCashProvidedByUsedInFinancingActivities 7,349,019us-gaap_NetCashProvidedByUsedInFinancingActivities 3,245,953us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase in cash and cash equivalents 4,448,318us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (122,031)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 2,463,074us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 558,479us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 3,361,246us-gaap_CashAndCashEquivalentsAtCarryingValue 898,172us-gaap_CashAndCashEquivalentsAtCarryingValue 898,172us-gaap_CashAndCashEquivalentsAtCarryingValue 339,693us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year 7,809,564us-gaap_CashAndCashEquivalentsAtCarryingValue 776,141us-gaap_CashAndCashEquivalentsAtCarryingValue 3,361,246us-gaap_CashAndCashEquivalentsAtCarryingValue 898,172us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of non-cash investing and financing activities:        
Non-cash patent acquisition       3,036,011us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1   
Common stock issued to acquire patent license       185,600itus_CommonStockIssuedToAcquirePatentLicense 42,000itus_CommonStockIssuedToAcquirePatentLicense
Common stock issued upon conversion of debentures       2,735,349us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities 1,353,364us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
Fair value of debenture embedded conversion feature, at issuance    1,570,000us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature 1,570,000us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature 1,180,000us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature
Relative fair value of convertible debenture warrant, at issuance    513,122us-gaap_FairValueAdjustmentOfWarrants 513,112us-gaap_FairValueAdjustmentOfWarrants 214,819us-gaap_FairValueAdjustmentOfWarrants
Non-cash acquisition of 20,000,000 shares of common stock       4,134,516us-gaap_ConversionOfStockAmountIssued1   
Common stock and preferred stock issued upon conversion of convertible debentures due November 2016     2,935,387us-gaap_StockIssued1 603,364us-gaap_StockIssued1
Cancellation of loan receivable from former affiliate       (5,000,000)itus_CancellationOfLoanReceivableFromFormerAffiliate   
Cancellation of loan payable to former affiliate       5,000,000itus_CancellationOfLoanPayableToFormerAffiliate   
ZQX Advisors LLC [Member]        
Cash flows from financing activities:        
Proceeds from sale of common stock, net of expense          24,138us-gaap_ProceedsFromIssuanceOfCommonStock
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= itus_ZQXAdvisorsLLCMember
Proceeds received on sale of common stock held by ZQX Advisors, LLC          24,138us-gaap_ProceedsFromIssuanceOfCommonStock
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= itus_ZQXAdvisorsLLCMember
Convertible Debenture Due November 2016 [Member]        
Supplemental disclosure of non-cash investing and financing activities:        
Common stock and preferred stock issued upon conversion of convertible debentures due November 2016       $ 5,229,641us-gaap_StockIssued1
/ us-gaap_DebtInstrumentAxis
= itus_ConvertibleDebentureDueNovember2016Member