Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Feb. 12, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | CardioGenics Holdings Inc. | |
Entity Central Index Key | 1,089,029 | |
Document Type | 10-K | |
Document Period End Date | Oct. 31, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --10-31 | |
Entity Well Known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity's Current Reporting Status | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $ 2,655,111 | |
Entity Common Stock Shares Outstanding | 92,866,724 | |
Trading Symbol | CGNH | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2,015 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Oct. 31, 2015 | Oct. 31, 2014 |
Current Assets | ||
Cash and Cash Equivalents | $ 49,875 | $ 70,676 |
Accounts Receivable | 228 | |
Refundable Taxes Receivable | $ 2,385 | 2,625 |
Total Current Assets | 52,260 | 73,529 |
Long-Term Assets | ||
Property and equipment, net | 35,174 | 42,693 |
Deposits and prepaid expenses | 41,558 | 45,576 |
Patents, net | 102,940 | 108,132 |
Totals | 231,932 | 269,930 |
Current Liabilities | ||
Accounts payable and accrued expenses | 1,244,446 | 1,020,809 |
Funds held in trust for redemption of class B Common Shares | 4 | 4 |
Due to shareholders | 133,773 | 131,052 |
Notes payable, net of debt discount | 72,614 | 71,863 |
Derivative liability on notes payable | 344,086 | 201,260 |
Total Liabilities | $ 1,794,923 | $ 1,424,988 |
Commitments and contingencies | ||
Shareholders' Deficiency | ||
Preferred stock; par value $.0001 per share, 50,000,000 shares authorized, none issued | ||
Common stock; par value $.00001 per share; 150,000,000 shares authorized, 92,214,030 and 47,383,379 common shares and 24,176,927 and 24,176,927 exchangeable shares issued and outstanding as at October 31, 2015 and 2014, respectively | $ 1,139 | $ 692 |
Additional paid-in capital | 47,838,139 | 46,505,954 |
Accumulated deficit | (49,554,070) | (47,637,746) |
Accumulated other comprehensive income (expense) | 151,801 | (23,958) |
Total Shareholders' deficiency | (1,562,991) | (1,115,058) |
Totals | $ 231,932 | $ 269,930 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Oct. 31, 2015 | Oct. 31, 2014 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | ||
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 92,214,030 | 47,383,379 |
Common stock, shares outstanding | 92,214,030 | 47,383,379 |
Exchangeable Shares [Member] | ||
Common stock, shares issued | 24,176,927 | 24,176,927 |
Common stock, shares outstanding | 24,176,927 | 24,176,927 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Income Statement [Abstract] | ||
Revenue | ||
Operating Expenses | ||
Depreciation and Amortization of Property and Equipment | $ 7,519 | $ 10,803 |
Amortization of Patent Application Costs | 7,248 | 10,300 |
General and Administrative | 541,585 | 451,468 |
Research and Product Development, Net of Investment Tax Credits | 215,790 | 500,935 |
Total operating expenses | 772,142 | 973,506 |
Operating Loss | (772,142) | (973,506) |
Other Expenses | ||
Interest Expense and Bank Charges (Net) | 475,745 | 1,841,373 |
Loss (Gain) on Change in Value of Derivative Liability | 611,427 | (142,054) |
Loss on Foreign Exchange Transactions | 57,010 | 7,051 |
Total other expenses | 1,144,182 | 1,706,370 |
Net Loss | $ (1,916,324) | $ (2,679,876) |
Basic and Fully Diluted Net Loss per Common Share | $ (0.02) | $ (0.04) |
Weighted-average number of Common Shares | 94,424,039 | 61,701,832 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | ||
Net Loss | $ (1,916,324) | $ (2,679,876) |
Other comprehensive income, currency translation adjustments | 175,759 | 93,557 |
Comprehensive loss | $ (1,740,565) | $ (2,586,319) |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Deficiency - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Common Stock [Member] | ||
Balance | $ 692 | $ 565 |
Balance, shares | 71,560,306 | 58,903,595 |
Issuance of common shares on conversion of notes payable January 2014 | $ 1 | |
Issuance of common shares on conversion of notes payable January 2014, shares | 100,000 | |
Issuance of common shares on settlement of suit January 2014 | $ 7 | |
Issuance of common shares on settlement of suit January 2014, shares | 700,000 | |
Issuance of common shares for cash January 2014 | $ 2 | |
Issuance of common shares for cash January 2014, shares | 200,000 | |
Issuance of common shares on conversion of shares of subsidiary | $ 3 | |
Issuance of common shares on conversion of shares of subsidiary, shares | 296,538 | |
Issuance of common shares on conversion of notes payable February 2014 | $ 2 | |
Issuance of common shares on conversion of notes payable February 2014, shares | 154,658 | |
Issuance of common shares on conversion of notes payable March 2014 | $ 1 | |
Issuance of common shares on conversion of notes payable March 2014, shares | 150,000 | |
Issuance of common shares on conversion of notes payable April 2014 | $ 2 | |
Issuance of common shares on conversion of notes payable April 2014, shares | 160,000 | |
Issuance of common shares for services rendered March 2014 | $ 1 | |
Issuance of common shares for services rendered March 2014, shares | 83,333 | |
Issuance of common shares for services rendered April 2014 | $ 0 | |
Issuance of common shares for services rendered April 2014, shares | 32,946 | |
Issuance of common shares on conversion of notes payable May 2014 | $ 3 | |
Issuance of common shares on conversion of notes payable May 2014, shares | 258,333 | |
Issuance of common shares for services rendered July 2015 | $ 1 | |
Issuance of common shares for services rendered July 2015, shares | 63,336 | |
Issuance of common shares on conversion of notes payable August 2014 | $ 2 | |
Issuance of common shares on conversion of notes payable August 2014, shares | 250,000 | |
Issuance of common shares on conversion of debentures payable September 2014 | $ 94 | |
Issuance of common shares on conversion of debentures payable September 2014, shares | 9,427,576 | |
Issuance of common shares for services rendered September 2014 | $ 5 | |
Issuance of common shares for services rendered September 2014, shares | 500,000 | |
Issuance of common shares on conversion of notes payable October 2014 | $ 3 | |
Issuance of common shares on conversion of notes payable October 2014, shares | 280,000 | |
Issuance of common shares on conversion of notes payable November 2014 | $ 6 | |
Issuance of common shares on conversion of notes payable November 2014, shares | 589,679 | |
Issuance of common shares on conversion of notes payable December 2014 | $ 30 | |
Issuance of common shares on conversion of notes payable December 2014, shares | 2,977,637 | |
Issuance of common shares on conversion of notes payable January 2015 | $ 73 | |
Issuance of common shares on conversion of notes payable January 2015, shares | 7,349,902 | |
Issuance of common shares on conversion of shareholder's loan February 2015 | $ 2 | |
Issuance of common shares on conversion of shareholder's loan February 2015, shares | 227,273 | |
Issuance of common shares on conversion of notes payable February 2015 | $ 72 | |
Issuance of common shares on conversion of notes payable February 2015, shares | 7,220,309 | |
Issuance of common shares on conversion of notes payable March 2015 | $ 30 | |
Issuance of common shares on conversion of notes payable March 2015, shares | 3,039,913 | |
Issuance of common shares on conversion of notes payable April 2015 | $ 7 | |
Issuance of common shares on conversion of notes payable April 2015, shares | 718,390 | |
Issuance of common shares on conversion of notes payable May 2015 | $ 59 | |
Issuance of common shares on conversion of notes payable May 2015, shares | 5,894,104 | |
Issuance of common shares for cash May 2015 | $ 16 | $ 50,000 |
Issuance of common shares for cash May 2015, shares | 1,600,000 | 200,000 |
Issuance of common shares on conversion of notes payable June 2015 | $ 13 | |
Issuance of common shares on conversion of notes payable June 2015, shares | 1,345,834 | |
Issuance of common shares on conversion of notes payable August 2015 | $ 56 | |
Issuance of common shares on conversion of notes payable August 2015, shares | 5,566,831 | |
Issuance of common shares for services rendered August 2015 | $ 1 | |
Issuance of common shares for services rendered August 2015, shares | 100,000 | |
Issuance of common shares on conversion of notes payable September 2015 | $ 48 | |
Issuance of common shares on conversion of notes payable September 2015, shares | 4,763,590 | |
Issuance of common shares on conversion of notes payable October 2015 | $ 34 | |
Issuance of common shares on conversion of notes payable October 2015, shares | 3,437,189 | |
Settlement of derivative value of notes payable on conversion to common shares | ||
Net Loss | ||
Currency Translation Adjustment | ||
Balance | $ 1,139 | $ 692 |
Balance, shares | 116,390,957 | 71,560,306 |
Additional Paid-In Capital [Member] | ||
Balance | $ 46,505,954 | $ 44,514,000 |
Issuance of common shares on conversion of notes payable January 2014 | 12,066 | |
Issuance of common shares on settlement of suit January 2014 | 188,993 | |
Issuance of common shares for cash January 2014 | 49,998 | |
Issuance of common shares on conversion of shares of subsidiary | (356,227) | |
Issuance of common shares on conversion of notes payable February 2014 | 18,557 | |
Issuance of common shares on conversion of notes payable March 2014 | 14,894 | |
Issuance of common shares on conversion of notes payable April 2014 | 12,478 | |
Issuance of common shares for services rendered March 2014 | 17,916 | |
Issuance of common shares for services rendered April 2014 | 7,083 | |
Issuance of common shares on conversion of notes payable May 2014 | 15,497 | |
Issuance of common shares for services rendered July 2015 | 8,233 | |
Issuance of common shares on conversion of notes payable August 2014 | 14,998 | |
Issuance of common shares on conversion of debentures payable September 2014 | 1,035,239 | |
Beneficial conversion charge from re-pricing of shares and warrants associated with converted debentures | 745,121 | |
Issuance of common shares for services rendered September 2014 | 67,495 | |
Issuance of common shares on conversion of notes payable October 2014 | 13,487 | |
Issuance of common shares on conversion of notes payable November 2014 | 22,528 | |
Issuance of common shares on conversion of notes payable December 2014 | 32,230 | |
Issuance of common shares on conversion of notes payable January 2015 | 83,051 | |
Issuance of common shares on conversion of shareholder's loan February 2015 | 22,854 | |
Issuance of common shares on conversion of notes payable February 2015 | 57,391 | |
Issuance of common shares on conversion of notes payable March 2015 | 23,524 | |
Issuance of common shares on conversion of notes payable April 2015 | 10,720 | |
Issuance of common shares on conversion of notes payable May 2015 | 51,301 | |
Issuance of common shares for cash May 2015 | 39,984 | |
Issuance of common shares on conversion of notes payable June 2015 | 18,472 | |
Issuance of common shares on conversion of notes payable August 2015 | 45,216 | |
Issuance of common shares for services rendered August 2015 | 3,044 | |
Issuance of common shares on conversion of notes payable September 2015 | 34,778 | |
Issuance of common shares on conversion of notes payable October 2015 | 43,234 | |
Settlement of derivative value of notes payable on conversion to common shares | $ 843,858 | 126,126 |
Net Loss | ||
Currency Translation Adjustment | ||
Balance | $ 47,838,139 | 46,505,954 |
Accumulated Deficit [Member] | ||
Balance | $ (47,637,746) | (44,957,870) |
Issuance of common shares on conversion of notes payable November 2014 | ||
Issuance of common shares on conversion of notes payable December 2014 | ||
Issuance of common shares on conversion of notes payable January 2015 | ||
Issuance of common shares on conversion of shareholder's loan February 2015 | ||
Issuance of common shares on conversion of notes payable February 2015 | ||
Issuance of common shares on conversion of notes payable March 2015 | ||
Issuance of common shares on conversion of notes payable April 2015 | ||
Issuance of common shares on conversion of notes payable May 2015 | ||
Settlement of derivative value of notes payable on conversion to common shares | ||
Net Loss | $ (1,916,324) | (2,679,876) |
Currency Translation Adjustment | ||
Balance | $ (49,554,070) | (47,637,746) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Balance | $ (23,958) | (117,515) |
Issuance of common shares on conversion of notes payable November 2014 | ||
Issuance of common shares on conversion of notes payable December 2014 | ||
Issuance of common shares on conversion of notes payable January 2015 | ||
Issuance of common shares on conversion of shareholder's loan February 2015 | ||
Issuance of common shares on conversion of notes payable February 2015 | ||
Issuance of common shares on conversion of notes payable March 2015 | ||
Issuance of common shares on conversion of notes payable April 2015 | ||
Issuance of common shares on conversion of notes payable May 2015 | ||
Settlement of derivative value of notes payable on conversion to common shares | ||
Net Loss | ||
Currency Translation Adjustment | $ 175,759 | 93,557 |
Balance | $ 151,801 | (23,958) |
Noncontrolling Interest [Member] | ||
Balance | (356,224) | |
Issuance of common shares on conversion of shares of subsidiary | $ 356,224 | |
Balance | ||
Balance | $ (1,115,058) | $ (917,044) |
Issuance of common shares on conversion of notes payable January 2014 | 12,067 | |
Issuance of common shares on settlement of suit January 2014 | 189,000 | |
Issuance of common shares for cash January 2014 | $ 50,000 | |
Issuance of common shares on conversion of shares of subsidiary | ||
Issuance of common shares on conversion of notes payable February 2014 | $ 18,559 | |
Issuance of common shares on conversion of notes payable March 2014 | 14,895 | |
Issuance of common shares on conversion of notes payable April 2014 | 12,480 | |
Issuance of common shares for services rendered March 2014 | 17,917 | |
Issuance of common shares for services rendered April 2014 | 7,083 | |
Issuance of common shares on conversion of notes payable May 2014 | 15,500 | |
Issuance of common shares for services rendered July 2015 | 8,234 | |
Issuance of common shares on conversion of notes payable August 2014 | 15,000 | |
Issuance of common shares on conversion of debentures payable September 2014 | 1,035,333 | |
Beneficial conversion charge from re-pricing of shares and warrants associated with converted debentures | 745,121 | |
Issuance of common shares for services rendered September 2014 | 67,500 | |
Issuance of common shares on conversion of notes payable October 2014 | 13,490 | |
Issuance of common shares on conversion of notes payable November 2014 | 22,534 | |
Issuance of common shares on conversion of notes payable December 2014 | 32,260 | |
Issuance of common shares on conversion of notes payable January 2015 | 83,124 | |
Issuance of common shares on conversion of shareholder's loan February 2015 | 22,856 | |
Issuance of common shares on conversion of notes payable February 2015 | 57,463 | |
Issuance of common shares on conversion of notes payable March 2015 | 23,554 | |
Issuance of common shares on conversion of notes payable April 2015 | 10,727 | |
Issuance of common shares on conversion of notes payable May 2015 | 51,360 | |
Issuance of common shares for cash May 2015 | $ 40,000 | |
Issuance of common shares for cash May 2015, shares | 1,600,000 | |
Issuance of common shares on conversion of notes payable June 2015 | $ 18,485 | |
Issuance of common shares on conversion of notes payable August 2015 | 45,272 | |
Issuance of common shares for services rendered August 2015 | 3,045 | |
Issuance of common shares on conversion of notes payable September 2015 | 34,826 | |
Issuance of common shares on conversion of notes payable October 2015 | 43,268 | |
Settlement of derivative value of notes payable on conversion to common shares | 843,858 | 126,126 |
Net Loss | (1,916,324) | (2,679,876) |
Currency Translation Adjustment | 175,759 | 93,557 |
Balance | $ (1,562,991) | $ (1,115,058) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Cash flows from operating activities: | ||
Net loss | $ (1,916,324) | $ (2,679,876) |
Adjustments to reconcile consolidated net loss to net cash used in operating activities: | ||
Depreciation and amortization | 7,519 | 10,803 |
Amortization of Patent Application Costs | 7,248 | 10,300 |
Loss (Gain) on Change in Value of Derivative Liability | 611,427 | (142,054) |
Interest and Discount on Notes Payable | $ 452,323 | 494,242 |
Amortization of Discount on Debentures Payable | 615,252 | |
Common Stock Issued for Services Rendered | $ 3,045 | 100,734 |
Beneficial conversion charge included in interest expense | 745,121 | |
Changes in working capital items: | ||
Account Receivable | $ 228 | 18 |
Deposits and Prepaid Expenses | 4,018 | 3,691 |
Refundable Taxes Receivable | $ 240 | 677 |
Government Grants and Investment Tax Credits, Receivable | 60,104 | |
Accounts Payable and Accrued Expenses | $ 223,637 | 183,877 |
Net cash used in operating activities | (606,639) | $ (597,111) |
Cash flows from investing activities: | ||
Patent Application Costs | (2,057) | |
Net cash used in investing activities | (2,057) | |
Cash flows from financing activities: | ||
Due to Shareholders | 23,914 | $ 131,052 |
Payment on Notes Payable | (4,291) | |
Proceeds From Notes Payable | 305,000 | $ 215,000 |
Issue of Common Shares for Cash | 40,000 | 50,000 |
Net cash provided by financing activities | 364,623 | 396,052 |
Effects of exchange rate changes on cash and cash equivalents | 223,272 | 8,632 |
Net Decrease in cash and cash equivalents | (20,801) | (192,427) |
Cash and cash equivalents, beginning of year | 70,676 | 263,103 |
Cash and cash equivalents, end of year | $ 49,875 | $ 70,676 |
Nature of Business
Nature of Business | 12 Months Ended |
Oct. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | 1. Nature of Business The accompanying audited consolidated financial statements have been prepared in accordance with the requirements of Form 10-K and Article 8 of Regulation S-X of the Securities and Exchange Commission (the SEC) and include the results of CardioGenics, Inc. and its subsidiaries and JAG Media Holdings, Inc and its subsidiaries (JAG Media) (from July 31, 2009, date of acquisition) which are collectively referred to as the Company. CardioGenics Inc. (CardioGenics) was incorporated on November 20, 1997 in the Province of Ontario, Canada, and carries on the business of development and commercialization of diagnostic test products for the In Vitro Diagnostics testing market. CardioGenics has several test products that are in various stages of development. In the last quarter of 2011 CardioGenics commenced selling one of these products, but has generated no significant revenue therefrom. |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Oct. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | 2. Basis of Presentation The accompanying consolidated financial statements have been prepared using the accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has incurred operating losses and has experienced negative cash flows from operations since inception. The Company has an accumulated deficit at October 31, 2015 of approximately $49.6 million. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern. The Company has funded its activities to date almost exclusively from debt and equity financings. These conditions raise substantial doubt about the Companys ability to continue as a going concern. The Company will continue to require substantial funds to continue research and development, including preclinical studies and clinical trials of its products, and to commence sales and marketing efforts, if the FDA and other regulatory approvals are obtained. In order to meet its operating cash flow requirements Managements plans include financing activities such as private placements of its common stock and issuances of convertible debt instruments. Management is also actively pursuing industry collaboration activities including product licensing and specific project financing. While the Company believes it will be successful in obtaining the necessary financing to fund its operations, and manage costs, there are no assurances that such additional funding will be achieved and that it will succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might be necessary should the Company be unable to continue in existence. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Oct. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 3. Summary of Significant Accounting Policies (a) Principles of Consolidation The consolidated financial statements include the accounts of the Company and its 100% owned subsidiaries. All significant intercompany transactions and balances have been eliminated. (b) Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. (c) Government Grants and Investment Tax Credits Receivable The Companys accounts include claims for investment tax credits (ITCs) relating to scientific research activities of the Company prior to July 31, 2009. The qualification and recording of this activity for ITCs purposes is established by Canadian Income Tax authorities when the income tax returns for the period are assessed. ITCs were recognized in the statement of operations in the year in which the expenses were incurred. The Company no longer qualifies to receive substantial refunds of ITCs resulting from scientific research. Currently the majority of ITCs resulting from scientific research are carried forward to a time when the Company becomes tax paying at which time said ITCs are applicable against taxes payable. (d) Property and Equipment Property and equipment is recorded at cost. Property and equipment is depreciated using methods and rates as follows: Furniture and Fixtures 20% declining balance Lab Equipment 20% declining balance Computer Equipment Hardware 30% declining balance Computer Equipment Software 50% declining balance Leasehold Improvements Straight-line over the lesser of the life of the asset or the life of the lease (e) Patents Capitalized patent costs represent legal and application costs incurred to establish patents. Capitalized patent costs are amortized on a straight-line method over the related patent term. As patents are abandoned, the net book value of the patent is written off. (f) Impairment or Disposal of Long-Lived Assets The Company assesses the impairment of long-lived assets under the guidance of standards for the impairment or disposal of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. For long-lived assets to be held and used, the Company recognizes an impairment loss only if its carrying amount is not recoverable and exceeds its fair value. The carrying amount of the long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposal of the asset. (g) Research and Development Costs Expenditures for research and development are expensed as incurred and include, among other costs, those related to the production of prototype products, including payroll costs. Amounts expected to be received from governments under Scientific Research Tax Credit arrangements are offset against current expenses. The Company recognizes revenue from restricted grants in the period in which the Company has incurred the expenditures in compliance with the specific restrictions. (h) Income Taxes The Company utilizes the liability method of accounting for income taxes as set forth in the authoritative guidance. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. As there is no certainty that the Company will generate taxable income in the foreseeable future to utilize tax losses accumulated to date, no provision for ultimate tax reduction has been made in these financial statements. On November 1, 2007, the Company adopted the guidance issued for accounting for uncertainty in income taxes which provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprises financial statements. Income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized upon the adoption of the guidance and in subsequent periods. The Company recognizes potential accrued interest and penalties related to unrecognized tax benefits within operations as general and administrative expense. There are no uncertain tax positions as of October 31, 2015 and 2014. (i) Stock-Based Compensation The Company follows the authoritative guidance for stock-based compensation which requires that new, modified and unvested share-based payment transactions with employees, such as grants of stock options and restricted stock, be recognized in the financial statements based on their fair value at the grant date and recognized as compensation expense over their vesting periods. The Company has also considered the related guidance of the SEC. The Company estimates the fair value of stock options and shares issued as compensation to employees and directors as of the date of grant using the Black-Scholes pricing model and restricted stock based on the per share value. The Company also follows the guidance for equity instruments that are issued to other than employees for acquiring, or in conjunction with selling, goods or services for equity instruments issued to consultants which provides guidance on transactions in which (1) the fair value of the equity instruments is more reliably measurable than the fair value of the goods or services received and (2) the counterparty receives shares of stock, stock options, or other equity instruments in settlement of the entire transaction or, if the transaction is part cash and part equity instruments, in settlement of the portion of the transaction for which the equity instruments constitute the consideration. Options issued with a nominal exercise price in exchange for services rendered were measured at the fair value of the underlying services rendered on the date of grant. The expense is recorded to the statement of operations with a corresponding increase in share capital with no additional increase in the number of shares as they were legally not yet exercised. (j) Net Loss Per Common Share Basic loss per share is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. The computation of diluted loss per share does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on loss per share. (k) Comprehensive Income (Loss) Other comprehensive income (loss) includes the foreign currency translation adjustments. (l) Concentration of Credit Risk The Company maintains cash balances, at times, with financial institutions in excess of amounts insured by the Canada Deposit Insurance Corporation and the Federal Deposit Insurance Corporation. Management monitors the soundness of these institutions and has not experienced any collection losses with these financial institutions. (m) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. By their nature, these estimates are subject to uncertainty and the effect on the consolidated financial statements of changes in such estimates in future periods could be material. (n) Foreign Currency Translation The Company maintains its accounting records for its Canadian operations in Canadian dollars. Transactions in United States dollars (USD) are translated into Canadian dollars at rates in effect at the date of the transaction and gains or losses on such transactions are recorded at the time of settlement in the statement of operations. The Companys reporting currency is the USD. Foreign denominated assets and liabilities of the Company are translated into USD at the prevailing exchange rates in effect at the end of the reporting period, the historical rate for stockholders deficiency and a weighted average of exchange rate in effect during the period for expenses, gains and losses. Adjustments that arise from translation into the reporting currency are recorded in the accumulated other comprehensive income (loss) component of stockholders deficiency. (o) Financial Instruments The carrying values of cash and cash equivalents, other current assets, accounts payable and accrued expenses approximate their fair values due to their short-term nature. Notes payable and convertible debentures approximate their fair value based upon recent issuances of the underlying debt. (p) Derivative Instruments The Companys derivative liabilities are related to embedded conversion features of the Notes Payable. For derivative instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in fair value recognized in earnings each reporting period. The Company uses the Black-Scholes model to value the derivative instruments at inception and subsequent valuation dates and the value is re-assessed at the end of each reporting period, in accordance with Accounting Standards Codification (ASC) 815. Derivative instrument liabilities are classified in the consolidated balance sheets as current or non-current based on whether or not the net-cash settlement of the derivative instrument could be required within twelve months of the consolidated balance sheet date. (q) Beneficial Conversion Charge The intrinsic value of beneficial conversion features arising from the issuance of convertible debentures with conversion rights that are in-the-money at the commitment date is recorded as debt discount and amortized to interest expense over the term of the debentures. The intrinsic value of a beneficial conversion feature is determined after initially allocating an appropriate portion of the proceeds received from the sale of the debentures to any detachable instruments, such as warrants, included in the sale or exchange based on relative fair values. (r) Recently Issued Accounting Standards Revenue From Contracts With Customers In May 2014, the FASB issued an update to ASC 606, Revenue from Contracts with Customers. This update to ASC 606 provides a five-step process to determine when and how revenue is recognized. The core principle of the guidance is that a Company should recognize revenue upon transfer of promised goods or services to customers in an amount that reflects the expected consideration to be received in exchange for those goods and services. This update to ASC 606 will also result in enhanced disclosures about revenue, providing guidance for transactions that were not previously addressed comprehensively, and improving guidance for multiple-element arrangements. This update to ASC 606 as amended is effective for the Company beginning in fiscal 2019. The Company is currently evaluating the impact of this pronouncement on its consolidated financial statements. Other pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Oct. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | 4. Property and Equipment The costs and accumulated depreciation and amortization of property and equipment are summarized as follows: October 31, 2015 2014 Furniture and Fixtures $ 12,120 $ 12,120 Lab Equipment 168,481 168,481 Computer Hardware 19,490 19,490 Computer Software 8,433 8,433 Leasehold Improvements 91,269 91,269 Total Property and Equipment 299,793 299,793 Less Accumulated Depreciation and Amortization 264,619 257,100 Property and Equipment, Net $ 35,174 $ 42,693 Depreciation and amortization expense amounted to $7,519 and $10,803 for the years ended October 31, 2015 and 2014, respectively. |
Patents
Patents | 12 Months Ended |
Oct. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Patents | 5. Patents The costs and accumulated amortization of patents are summarized as follows: October 31, 2015 2014 Patents $ 146,079 $ 144,022 Less: Accumulated Amortization (43,139 ) (35,890 ) Patents, Net $ 102,940 $ 108,132 Weighted-Average Life 17 Years 17 Years Amortization expense amounted to $7,248 and $10,300 for the years ended October 31, 2015 and 2014, respectively. Amortization expense is expected to be approximately $7,250 per year for the years ended October 31, 2016 through 2020. |
Due to Shareholders
Due to Shareholders | 12 Months Ended |
Oct. 31, 2015 | |
Notes to Financial Statements | |
Due to Shareholders | 6. Due to Shareholders The amount due to shareholders is due on demand and carries interest at 10% per annum. |
Income Taxes
Income Taxes | 12 Months Ended |
Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 7. Income Taxes Based on the Companys evaluation, management has concluded that there are no significant tax positions requiring recognition in the consolidated financial statements. The Company has incurred losses in Canada since inception which have generated net operating loss carryforwards NOLs for income tax purposes. The net operating loss carryforwards arising from Canadian sources as of October 31, 2015 were $7,457,000 which will expire from 2016 through 2035. All fiscal years except 2015 have been assessed. Research and development tax credit for 2012 for which the Company received a refund of $81,460 is being refuted by Canadian taxation authorities. The Company is disputing the position taken by the taxation authorities but has established a reserve against possible repayment. As of October 31, 2015, the Company had NOLs from US sources of approximately $45,532,000 available to reduce future Federal taxable income which will expire from 2020 through 2034. Returns for the years 2008 through 2015 are yet to be filed. As of October 31, 2015, the Company has recorded approximately $408,000 of estimated penalties and interest related to this matter. Internal Revenue Code Section 382 (Section 382) imposes a limitation on a corporations ability to utilize NOLs if it experiences an ownership change. In general, an ownership change may occur from certain transactions that increase the ownership of 5% stockholders in the stock of a corporation by more than 50 percentage points over a three year period. If an ownership change occurs, utilization of the NOLs would be subject to an annual limitation. The annual limitation under Section 382 is calculated by multiplying the value of the stock at the time of the ownership change by the applicable long-term exempt rate. Any unused annual limitation may be carried over to later years. The Company has historically been in a loss position and, therefore, the Section 382 limitation may not be relevant for the current period. For the years ended October 31, 2015 and 2014, the Companys effective tax rate differs from the statutory rate principally due to the net operating losses for which no benefit was recorded. As of October 31, 2015 and 2014, the Companys deferred tax assets consisted of the effects of temporary differences attributable to the following: October 31, 2015 2014 Temporary: Property and equipment $ 21,990 $ (24,092 ) Net operating loss carryforwards 17,568,933 18,640,188 Unrealized foreign exchange (71,958 ) 23,175 Investment tax credits 402,189 402,189 Transitional tax debits (25,076 ) (25,076 ) Unrealized loss (gain) on derivative liability 157,104 (37,181 ) Total Deferred Tax Assets 18,009,202 18,979,203 Valuation Allowance (18,009,202 ) (18,979,203 ) Net Deferred Income Taxes $ ▬ $ ▬ A reconciliation of the Canadian combined statutory rate to the Companys effective tax rate for the years ended October 31, 2015 and 2014 is as follows: October 31, 2015 2014 Statutory rate 28 % 28 % Decrease in income tax rate resulting from: Permanent differences (6.0 )% (1.3 )% Change in valuation allowance (22.0 )% (26.7 )% Effective tax rate 0.0 % 0.0 % |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 12 Months Ended |
Oct. 31, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Expenses | 8. Accounts Payable and Accrued Expenses October 31, 2015 2014 Accounts Payable $ 181,102 $ 289,054 Income Tax Reserve 487,460 321,460 Research and Development 188,458 17,004 Investor Relations 10,104 11,738 Patent Application Costs 2.419 5,026 Legal Fees 301,154 316,127 Stock Exchange Listing 15,384 ▬ Accounting Fees 58,355 60,400 Total $ 1,244,446 $ 1,020,809 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Oct. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | 9. Stock-Based Compensation The Company follows the guidance for stock-based compensation. Stock-based employee compensation related to stock options for each of the years ended October 31, 2015 and 2014 amounted to $0. The following is a summary of the common stock options granted, forfeited or expired and exercised under the Plan: Weighted Average Exercise Options Price Outstanding October 31, 2013 30,000 $ 0.90 Granted ▬ ▬ Forfeited/expired ▬ ▬ Exercised ▬ ▬ Outstanding October 31, 2014 30,000 $ 0.90 Granted ▬ ▬ Forfeited/expired ▬ ▬ Exercised ▬ ▬ Outstanding October 31, 2015 30,000 $ 0.90 Options typically vest immediately at the date of grant. As such, the Company does not have any unvested options or unrecognized compensation expense at October 31, 2015 and 2014. The fair value of each option granted is estimated on grant date using the Black-Scholes option pricing model which takes into account as of the grant date the exercise price and expected life of the option, the current price of the underlying stock and its expected volatility, expected dividends on the stock and the risk-free interest rate for the term of the option. The Company granted no stock options during the years ended October 31, 2015 and 2014. The following table summarizes information on stock options outstanding at October 31, 2015 Options Outstanding and Exercisable Weighted Number Weighted Average Outstanding Average Remaining Aggregate at Exercise Life Intrinsic October 31, 2015 Price (Years) Value 30,000 $ 0.90 3.75 30,000 3.75 $ 0 The intrinsic value is calculated as the difference between the market value as of October 31, 2015 and the exercise price of the shares. The market value as of October 31, 2015 was $0.04 as reported by the OTC Bulletin Board. |
Notes Payable
Notes Payable | 12 Months Ended |
Oct. 31, 2015 | |
Debt Disclosure [Abstract] | |
Notes Payable | 10. Notes Payable On November 19, 2012, the Company entered into an agreement (Line) with JMJ Financial (Lender) whereby the Company may borrow up to $350,000 from the Lender in increments of $50,000. The Line is subject to an original issue discount of $50,000. Advances under the Line (Notes) have a maturity date of one year from the date of the advance. If the advance is repaid within three months, the advance is interest free. If not repaid within three months, the advance may not be repaid before maturity and carries interest at 5%. The Lender has the right at any time to convert all or part of the outstanding principal and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of common stock of the Company at a price equal to the lesser of $0.23 and 60% of the lowest trade price in the 25 trading days previous to the conversion. Unless agreed in writing by the parties, at no time will the Lender convert any amount owing under the Line into common stock that would result in the Lender owning more than 4.99% of the common stock outstanding. In June 22, 2015, the Company and the lender entered into a settlement agreement, whereby in exchange for a remaining indebtedness of $77,235, the Company agreed that on the 15th of each month commencing July 2015 and ending June 2016, the Company would either pay the lender $6,436 or issue to the lender common shares in the equivalent dollar amount at a price equal to the average closing price of the common stock in the five trading days prior to the scheduled payment date. During 2015, the Company paid one installment in cash and a total of 655,150 common shares for three installments. On May 23, 2014, the Company issued promissory notes (the LG Notes) to LG Capital Funding, LLC and Adar Bays, LLC (collectively the Holders) in the amount of $52,500 each bearing interest at 8% annually due May 23, 2015. The LG Notes and accrued interest may be converted into shares of the Common Stock of the Company at a 42% discount to the lowest closing bid with a 12 day look back. The LG Notes may be prepaid with the following penalties: (i) if the Notes are prepaid within 60 days of the issue date, then at 130% of the face amount plus any accrued interest; and, (ii) if the LG Notes are prepaid after 60 days after the issue date but less than 181 days after the issue date, then at 140% of the face amount plus any accrued interest. The LG Notes may not be prepaid after the 180 th On November 12, 2014, the Company received $50,000 from Chicago Ventures in exchange for a note payable bearing interest at 10% due in one year, convertible into shares in the Companys common stock at a 40% discount from the lowest closing price of the common shares over the prior 15 days. The notes were all converted to common shares in 2015. On November 20, 2014, the Company reached a settlement with IBC Funds, LLC (IBC) whereby IBC agreed to pay $78,026 of the Companys debts in exchange for the right to purchase shares in the Companys common stock at a 40% discount from the lowest closing price of the common shares over the prior 15 days. The notes were all converted to common shares in 2015. On December 15, 2014, the Company received $52,500 from LG Capital Funding LLC in exchange for a note payable bearing interest at 8% due in one year, convertible into shares in the Companys common stock at a 42% discount from the lowest closing price of the common shares over the prior 15 days. Notes in the amount of $36,000 were converted to common shares in 2015. On March 25, 2015, the Company received $52,500 from Adar Bays, LLC in exchange for a note payable bearing interest at 8% due November 26, 2015, convertible into shares in the Companys common stock at a 40% discount from the average of the lowest two trading prices of the common shares over the prior 10 trading days. The notes were all converted to common shares in 2015. On July 31, 2015, the Company received $55,250 from Auctus Private Equity Fund, LLC in exchange for a note payable bearing interest at 8% due in nine months, convertible into shares in the Companys common stock at a 45% discount from the lowest closing price of the common shares over the prior 15 days. On August 14, 2015, the Company received $27,500 from Iliad Research and Trading LLC in exchange for a note payable bearing interest at 10% due in one year, convertible into shares in the Companys common stock at a 40% discount from the lowest closing price of the common shares over the prior 15 days. On October 13 2015, the Company received $27,500 from Iliad Research and Trading LLC in exchange for a note payable bearing interest at 10% due in one year, convertible into shares in the Companys common stock at a 40% discount from the lowest closing price of the common shares over the prior 15 days. A summary of the Notes at October 31, 2015 and 2014 is as follows: October 31, 2015 October 31, 2014 Convertible Note Payable, due February 20, 2015 $ - $ 12,529 Convertible Notes Payable, due May 23, 2015 - 105,000 Convertible Note Payable, due June 23, 2016 54,925 40,000 Convertible Note Payable, due October 22, 2015 - 35,000 Convertible Note Payable, due November 26, 2015 55,250 - Convertible Note Payable, due December 15, 2015 16,500 - Convertible Note Payable, due August 14, 2016 27,500 - Convertible Note Payable, due October 13, 2016 27,500 - Debt Discount - value attributable to conversion feature attached to Notes, net of accumulated amortization of $72,614 and $71,863 (109,061 ) (120,666 ) Total 72,614 71,863 Less: Current portion 72,614 71,863 Total Long-term portion $ - $ - As described in further detail in Note 11, Derivative Liabilities, the Company determines the fair value of the embedded derivatives and records them as a discount to the Notes and as a derivative liability. The discount to the Notes is amortized to interest expense over the life of the Note or until conversion. Upon conversion of the Notes and related interest and original issue discount to common stock, any remaining unamortized discount is charged to financing expense. During the year ended October 31, 2015, Notes in the principal amount of $422,874 were exchanged for 42,903,378 common shares. |
Derivative Liabilities
Derivative Liabilities | 12 Months Ended |
Oct. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Liabilities | 11. Derivative Liabilities Convertible notes - embedded conversion features: The Notes meet the definition of a hybrid instrument, as defined in ASC 815. The hybrid instrument is comprised of i) a debt instrument, as the host contract and ii) an option to convert the debentures into common stock of the Company, as an embedded derivative. The embedded derivatives derive their value based on the underlying fair value of the Companys common stock. The embedded derivatives are not clearly and closely related to the underlying host debt instrument since the economic characteristics and risk associated with these derivatives are based on the common stock fair value. The Company determines the fair value of the embedded derivatives and records them as a discount to the Notes and a derivative liability. The Company has recognized a derivative liability of $344,086 (2014- $201,260) as of October 31, 2015. Accordingly, changes in the fair value of the embedded derivative are immediately recognized in earnings and classified as a gain or loss on the embedded derivative financial instrument in the accompanying consolidated statements of operations. The Company estimated the fair value of the embedded derivatives using a Black Scholes model with the following assumptions: conversion price of $.017 and $.018 per share according to the agreements; risk free interest rate of .11%; expected life of 1 year; expected dividend of zero; a volatility factor of 241% to 272%, as of October 31, 2015 and 2014. The expected lives of the instruments are equal to the contractual term of the conversion option. The expected volatility is based on the historical price volatility of the Companys common stock. The risk-free interest rate represents the U.S. Treasury constant maturities rate for the expected life of the related conversion option. The dividend yield represents anticipated cash dividends to be paid over the expected life of the conversion option. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Oct. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 12. FAIR VALUE MEASUREMENTS As defined by the Accounting Standard Codification, fair value measurements and disclosures establish a hierarchy that prioritizes fair value measurements based on the type of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: ● Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities. ● Level 2: Inputs other than quoted market prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets, such as interest rates and yield curves that are observable at commonly-quoted intervals. ● Level 3: Unobservable inputs that reflect the reporting entitys own assumptions, as there is little, if any, related market activity. The following table summarizes the financial liabilities measured at fair value on a recurring basis as of October 31, 2015 and 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Quoted Prices in Significant Other Significant Total Increase (Reduction) Active Markets for Observable Unobservable in Fair Value Balance Sheet Identical Assets or Inputs Inputs October 31, 2014 Recorded at Location Liabilities (Level 1) (Level 2) (Level 3) Total October 31, 2014 Liabilities: Derivative liability on Notes Payable $ - $ - $ 201,260 $ 201,260 $ (142,054) Quoted Prices in Significant Other Significant Total Increase (Reduction) Active Markets for Observable Unobservable in Fair Value Balance Sheet Identical Assets or Inputs Inputs October 31, 2015 Recorded at Location Liabilities (Level 1) (Level 2) (Level 3) Total October 31, 2015 Liabilities: Derivative liability on Notes Payable $ - $ - $ 344,086 $ 344,086 $ 611,427 The Company utilizes the Black-Scholes Option Pricing model to estimate the fair value of the derivative liability associated with the convertible note obligation. The Company considers them to be Level 3 instruments. The following table shows the weighted average assumptions the Company used to develop the fair value estimates for the determination of the derivative liability at October 31, 2015 and 2014: 2015 2014 Fair value $0.017-0.018 $0.058-0.060 Expected volatility 241-272 % 162%-169 % Dividend yield - - Expected term (in years) .06 - .95 .31-.94 Risk-free interest rate 0.11 % 0.11 % The table below sets forth a summary of changes in the fair value of the Companys Level 3 financial liability, or derivative liabilities related to the senior secured convertible notes and warrants, for the year ended October 31, 2015. 2015 2014 Balance at beginning of year $ 201,260 $ 99,702 Additions to derivative instruments 375,257 369,738 Change in fair value of derivative liabilities 611,427 (142,054 ) Settlements (843,858 ) (126,126 ) Balance at end of year $ 344,086 $ 201,260 |
Debentures Payable
Debentures Payable | 12 Months Ended |
Oct. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debentures Payable | 13. Debentures Payable In February 2013, loans from shareholder/directors in the amount of $288,584 were converted on a dollar-for-dollar basis for Series A Convertible Debenture Units (the A Units). Each A Unit includes a debenture having a term of three years, bearing interest at 10%, and a warrant having a term of three years. The debentures are convertible at any time into common shares of the Companys stock at a price of $0.25 per share. The warrants entitle the holder to purchase 2 times the number of common shares of the Companys stock allowed in conjunction with the debentures at a price of $0.25 per share at any time up to three years. In May 2013, the Company sold Series B Convertible Debenture Units (the B Units) in the amount of $500,000. Each B Unit includes a debenture having a term of three years, bearing interest at 10%, and a warrant having a term of three years. The debentures are convertible at any time into common shares of the Companys stock at a price of $0.25 per share. The warrants entitle the holder to purchase 1.5 times the number of common shares of the Companys stock allowed in conjunction with the debentures at a price of $0.15 at any time up to three years. In June 2013, the Company sold Series B Convertible Debenture Units (the B Units) in the amount of $148,653 to officers and/or directors. Each B Unit includes a debenture having a term of three years, bearing interest at 10%, and a warrant having a term of three years. The debentures are convertible at any time into common shares of the Companys stock at a price of $0.25 per share. The warrants entitle the holder to purchase 1.5 times the number of common shares of the Companys stock allowed in conjunction with the debentures at a price of $0.15 at any time up to three years. The Company allocated proceeds of $306,900 to the fair value of the warrants using a Black Scholes model with the following assumptions: conversion price $0.25 or $0.15 per share according to the agreements; risk free interest rate of .18%; expected life of 3 years; expected dividend of zero; a volatility factor of 176% to 195%, as of October 31, 2013 and the remaining $343,996 to the fair value of the Series B Convertible Debentures. Based on the excess of the aggregate fair value of the common shares that would have been issued if the Series B Convertible Debentures had been converted immediately over the proceeds allocated to the Series B Convertible Debentures, the investors received a beneficial conversion feature that had an aggregate intrinsic value of $343,996 as of the commitment date. Accordingly, the Company recorded an increase in additional paid-in capital and debt discount of $650,896 in connection with the issuance of the Series B Convertible Debentures and warrants. On September 17, 2014, the Series A and Series B Convertible Debentures plus acquired interest were converted to 9,427,576 common shares. The conversion price of both Series A and Series B Convertible Debentures was reduced to $0.11 at the conversion date. The reduction in conversion price from $0.25 to $0.11 to induce the conversion resulted in additional beneficial conversion charge of $745,121 during the year ended October 31, 2014. |
Warrants
Warrants | 12 Months Ended |
Oct. 31, 2015 | |
Equity [Abstract] | |
Warrants | 14. Warrants Outstanding warrants are as follows: October 31, 2015 2014 Issued to Flow Capital Advisors Inc. on settlement of lawsuit in August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $0.30 per common share up to and including August 23, 2016 250,000 250,000 Issued to Flow Capital Advisors Inc. on settlement of lawsuit August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $0.50 per common share up to and including August 23, 2016 250,000 250,000 Issued to Flow Capital Advisors Inc. on settlement of lawsuit August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $0.75 per common share up to and including August 23, 2016 500,000 500,000 Issued to Flow Capital Advisors Inc. on settlement of lawsuit August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $1.00 per common share up to and including August 23, 2016 500,000 500,000 Issued to Flow Capital Advisors Inc. on settlement of lawsuit August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $0.75 per common share up to and including August 23, 2016 500,000 500,000 Issued to debenture holders February 2013 entitling the holders to purchase 1 common share in the Company at an exercise price of $0.15 per common share up to and including February 27, 2016 600,000 600,000 Issued to debenture holders May 2013 entitling the holders to purchase 1 common share in the Company at an exercise price of $0.14 per common share up to and including June 3, 2016 750,000 750,000 Issued to debenture holders June 2013 entitling the holders to purchase 1 common share in the Company at an exercise price of $0.15 per common share up to and including June 3, 2016 232,500 232,500 Issued to consultants August 5, 2013, entitling the holders to purchase 2,500,000 common shares in the Company at an exercise price of $0.15 per common share up to and including August 4, 2023 2,500,000 2,500,000 Issued to consultants August 5, 2013, entitling the holders to purchase 1,500,000 common shares in the Company at an exercise price of $0.10 per common share up to and including August 4, 2023 1,500,000 1,500,000 Issued to consultant September 3, 2013, entitling the holder to purchase 500,000 common shares in the Company at an exercise price of $0.50 per common share up to and including July 31, 2018 500,000 500,000 Issued to shareholder October 29, 2013, entitling the holder to purchase 250,000 common shares in the Company at an exercise price of $0.15 per common share up to and including October 29, 2016 250,000 250,000 Issued to shareholder November 7, 2013, entitling the holder to purchase 1 common shares in the Company at an exercise price of $0.15 per common share up to and including November 7, 2016 125,000 125,000 Total Warrants outstanding 8,457,500 8,457,500 |
Authorized Share Capital
Authorized Share Capital | 12 Months Ended |
Oct. 31, 2015 | |
Equity [Abstract] | |
Authorized Share Capital | 15. Authorized Share Capital On September 30, 2009, the Companys articles of incorporation were amended to increase the total number of common shares authorized for issuance from 500,000,000 shares to 650,000,000 shares of common stock, par value $0.00001 per share. On April 23, 2010, the Companys Board of Directors approved a reverse stock split of its issued and outstanding common shares. The total authorized shares was at the same time reduced to 65,000,000. The Board of Directors selected a ratio of one-for-ten and the reverse split was effective June 20, 2010. As a result, the total number of shares of all classes of capital stock authorized for issuance by the Company decreased from 700,440,000 shares to 70,044,000 shares with a par value of $.00001 per share, of which 5,000,000 shares are authorized for issuance as preferred stock, 65,000,000 shares are authorized for issuance as common stock, 40,000 shares are authorized for issuance as Series 2 Class B common stock and 4,000 shares are authorized for issuance as Series 3 Class B common stock. On January 17, 2013 the Company filed a Certificate of Amendment to the Companys Articles of Incorporation to increase the authorized common shares to 150,000,000 and de-authorize the Companys Class B common stock. |
Issuance of Common Stock
Issuance of Common Stock | 12 Months Ended |
Oct. 31, 2015 | |
Equity [Abstract] | |
Issuance of Common Stock | 16. Issuance of Common Stock During the year ended October 31, 2015 and 2014, the Company issued the following common shares: Year Ended October 31, 2015 Year Ended October 31, 2014 # of shares Amount # of shares Amount Issuance to third parties for services rendered 100,000 $ 3,045 679,615 $ 100,734 Issuance to third parties for cash 1,600,000 $ 40,000 200,000 $ 50,000 Issuance to third parties on exercise of conversion of notes payable 42,903,378 $ 422,874 1,352,991 $ 101,991 Issued to shareholder on conversion of shareholders loan 227,273 $ 22,856 - $ - Issued to debenture holders on exercise of conversion of debentures payable - $ - 9,427,576 $ 1,035,333 Issued to minority shareholders on exchange of their shares in subsidiary for shares in the Company. - $ - 296,538 $ - The fair value of shares issued for services rendered were measured at the fair value of the services rendered on the date rendered. The Company has reserved in Treasury 24,700,000 Common Shares for possible conversion exercise of options, warrants and debt. |
Redemption of Class B Common St
Redemption of Class B Common Stock | 12 Months Ended |
Oct. 31, 2015 | |
Redemption Of Class B Common Stock | |
Redemption of Class B Common Stock | 17. Redemption of Class B Common Stock On or about February 28, 2011 CardioGenics Holdings Inc. (Holdings) mailed notices to the holders of its outstanding Series 2 Class B Common Stock (the Series 2 Shares) and Series 3 Class B Common Stock (the Series 3 Shares), which notify such stockholders that Holdings has elected to redeem all outstanding Series 2 Shares and Series 3 Shares in accordance with their terms. The Redemption Date was April 4, 2011 and the Redemption Price was par value, $0.00001 per share. Holdings has established a trust account with TD Bank Canada, which account will hold proceeds sufficient to redeem the issued and outstanding Series 2 Shares and Series 3 Shares. Accordingly, notwithstanding that any certificate for Series 2 Shares or Series 3 Shares called for redemption shall not have been surrendered for cancellation, all Series 2 Shares and Series 3 Shares called for redemption shall no longer be deemed outstanding, and all rights with respect to such Series 2 Shares and Series 3 Shares shall forthwith on the Redemption Date cease and terminate, except only the right of the holders thereof to receive the pro-rata amount payable of the Series 2 Shares and Series 3 Shares, without interest. |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Oct. 31, 2015 | |
Earnings Per Share [Abstract] | |
Net Loss per Share | 18. Net Loss per Share The following table sets forth the computation of weighted-average shares outstanding for calculating basic and diluted (loss) per share: Years Ended October 31, 2015 2014 Weighted-average shares - basic 94,424,039 61,701,832 Effect of dilutive securities ▬ ▬ Weighted-average shares - diluted 94,424,039 61,701,832 Basic (loss) per share (EPS) and diluted EPS for the years ended October 31, 2015 and 2014 have been computed by dividing the net loss available to common stockholders for each respective period by the weighted average shares outstanding during that period. All outstanding options, warrants and shares to be issued upon the exercise of the outstanding options and warrants and conversion of debt representing 18,621,774 and 12,195,822 incremental shares, respectively, have been excluded from the years ended October 31, 2015 and 2014, respectively, computation of diluted EPS as they are antidilutive given the net losses generated. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Oct. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | 19. Commitments and Contingent Liabilities Lease The Company has entered into an operating lease agreement for the use of operating space. Aggregate minimum annual lease commitments of the Company under the non-cancelable operating lease as of October 31, 2015 are as follows. (The Company is required in addition to pay a proportionate share of building operational expenses.) : Year Amount 2016 $ 42,473 2017 35,394 Total Minimum Lease Payments $ 77,867 Lease expense amounted to $61,137 and $70,374 for the years ended October 31, 2015 and 2014, respectively. The preceding data reflects existing leases and does not include replacements upon their expiration. In the normal course of business, operating leases are generally renewed or replaced by other leases. Lawsuit On April 22, 2009, the Company was served with a statement of claim from a former employee claiming compensation for wrongful dismissal and ancillary causes of action including payment of monies in realization of his investment in the Company, with an aggregate claim of $514,000. On January 3, 2014, the suit was settled for cash consideration of $10,000 plus 700,000 common shares. The Company is not involved in other litigation as this time. |
Supplemental Disclosure of Cash
Supplemental Disclosure of Cash Flow Information | 12 Months Ended |
Oct. 31, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosure of Cash Flow Information | 20. Supplemental Disclosure of Cash Flow Information For the Year Ended October 31, 2015 2014 Cash paid during the period for: Interest $ 22,551 $ 16,901 Income Taxes ▬ ▬ Non-cash financing activities: Conversion of notes payable including principal, interest and original issue discount 422,874 101,991 Services rendered settled with common shares 3,045 100,734 Value of beneficial conversion feature and warrants issued with debentures issued during the year ▬ 745,121 Settlement of accrued legal by issuance of common shares ▬ 189,000 Settlement of shareholder loan with common shares 22,856 ▬ |
Subsequent Events
Subsequent Events | 12 Months Ended |
Oct. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | 21. Subsequent Events 1. On November 4, 2015, the Company, through 2489528 Ontario Inc., an Ontario corporation and indirect subsidiary of the Company ( Acquisition Sub ), Plasticap Corporation, an Ontario corporation ( Plasticap ) and 1731861 Ontario Inc., an Ontario corporation ( 173 Corp ) entered into an asset purchase agreement, dated as of November 2, 2015, pursuant to which Acquisition Sub was to acquire all of the assets of Plasticap and 173 Corp (collectively, the Sellers ) (the Asset Purchase Agreement ). In consideration for the sale of the assets by the Sellers, the Company is to issue to Sellers, or their nominees (i) a convertible debt instrument, in the original principal amount of ten million Canadian dollars (CDN$10,000,000), which shall bear interest at a rate of 8% (the Convertible Debt ); (ii) twenty million (20,000,000) shares of the Companys common stock, par value $0.00001 ( the Common Stock ), which shares shall not be registered for resale by the Company and shall be subject to the rights and restrictions of Rule 144 of the Securities Act of 1933 ( Rule 144 ); and (iii) a warrant to purchase ten million (10,000,000) shares of Common Stock, which warrant shall have a term of three (3) years, be exercisable on a net cashless basis at an exercise price of $0.50 per share, not be registered for resale by Buyer and be subject to the rights and restrictions of Rule 144 (the Warrant ). In addition, Acquisition Sub will assume two million nine-hundred thousand Canadian dollars (CDN $2,900,000) in secured debt from Sellers (the Secured Debt ) as part of the consideration. The Asset Purchase Agreement contains customary representations and warranties from the parties. Acquisition Sub and 173 Corp also agreed to various post-closing undertakings. On November 4, 2015 and subject to post-closing undertakings, the Company, Acquisition Sub and the Sellers closed the sale and purchase of all of the assets of Sellers by Acquisition Sub, pursuant to the terms of the Asset Purchase Agreement. The assets acquired by Acquisition Sub comprised all of the assets of Sellers, which include, among others, the Plasticap trademark, all furnishings, fixtures and equipment related to Plasticaps specialty cap and closure manufacturing business and all of the Sellers customer contracts, all as more particularly set forth in the Asset Purchase Agreement. As part of the closing, Acquisition Sub and 173 Corp agreed to various post-closing undertakings. The following under takings have yet to be completed and hence the sale has not closed and the notes and warrants above have not been issued, nor has the CDN $2,900,000 secured debt been assumed. (i) 173 Corp undertakes that by January 31, 2016 it shall pay all the outstanding indebtedness of Bibby Financial Services located at 4 Robert Speck Parkway, Unit 310, Mississauga, ON, L4Z 1S1. (ii) Following the fulfilment of the undertaking specified in paragraph (i), which shall be considered fulfilled upon 173 Corp providing Acquisition Sub with a copy of the cheque payable to Bibby Financial Services for the full amount of the indebtedness, 173 Corp undertakes to provide Acquisition Sub, or as it directs, with a full and comprehensive release against any future claims Bibby Financial Services may have and a full indemnity against any future claims. (iii) Acquisition Sub undertakes that it will advance up to fifty thousand Canadian dollars (CDN$50,000) as a deposit against any outstanding claims Jacob Van Halteran may have through any security interests duly registered on any of the Sellers assets and that Sellers shall provide a full and comprehensive release of those security interests other than any rights that may be asserted under Schedule 2.3 of the Asset Purchase Agreement specifying any assumed liabilities. (iv) A Sellers lender will be paid fifty thousand Canadian dollars (CDN$50,000) against the debt in 173 Corp. (v) Acquisition Sub undertakes to pay from earnings received from time-to-time from its primary customer contract, based on a calculation of 50% before interest, taxes, depreciation and amortization, amounts to reduce the principle amount of the Secured Debt to zero by December 31, 2018. In the event, a residual balance exists, a balloon payment will be made to complete the payment. After Acquisition Sub completes the payment obligation specified under this subparagraph 6, the Sellers undertake, acknowledge and agree that the Acquisition Sub shall have no further responsibility to make any further payments on the balance of the Secured Debt. (vi) Acquisition Sub and 1646813 Ontario Limited undertake to enter into a new lease agreement for the premises located at 177 Crosby Avenue, Richmond Hill, Ontario, effective November 2015, with an option for Acquisition Sub to purchase the premises on the following terms: The term of the lease will be 5 years, with an option for an additional 5 years. Acquisition Sub has the option to acquire the building until January 15, 2016, through a purchase of all of the outstanding shares of 1646813 Ontario Limited, the owner of the real property and subject to refinancing the existing mortgages. In the event Acquisition Sub does not exercise the option, the lease shall remain in force for the duration of the lease and the Convertible Debt will be reduced by one million (CDN$1,000,000.00) Canadian dollars. The option for acquiring the real property has expired and therefore not in consideration any more. Further, the legal position of both parties is being disputed and has currently not concluded. There are no guarantees that this acquisition will be consummated and if it does, the terms might be different than stated above. The Company has advanced/loaned $288,126 to Acquisition Sub, Plasticap or 173 Corp. from November 4, 2015 to February 12, 2016. The Company is confident of collection of these advances/loans should the acquisition not be consummated. 2. On November 4, 2015, the Company received a loan in the amount of $227,894 from an individual. The loan bears interest at 10% per annum and has no set term. 3. On November 13, 2015, the Company settled $6,436 in JMJ Financial notes payable plus interest with 160,425 common shares. 4. On November 15, 2015, the Company issued a convertible promissory note to Bay Private Equity Inc. (Bay), whereby the Company agrees to pay Bay on November 20, 2016 the sum of $50,000 (Principal Sum) plus interest at 8% per annum. Bay has the option to at any time convert the Note into shares of the companys common stock at a price for each share equal to 55% of the lowest price for any trade of the common stock during the fifteen (15) trading day period prior to conversion. 5. On November 25, 2015, the Company issued a Senior Convertible Promissory Note to Firstfire Global Opportunities Fund LLP (Firstfire) whereby the company agrees to pay Firstfire on May 25, 2016 the sum of $160,500 (Principal Sum) plus interest at 4% per annum. Should the company fail to pay said Principal Sum plus interest on or before May 25, 2016, Firstfire may convert the Promissory Note into $240,750 worth of common shares at the lower of $.15 per common share or 40% of the lowest selling price of the common shares in the ten (10) days preceding the conversion date. 6. On December 15, 2015, the Company settled $6,436 in JMJ Financial notes payable plus interest with 135,614 common shares. 7. On December 21, 2015, the Company issued to a third party 205,000 common shares for total consideration of $7,279. 8. On December 21, 2015, the Company repaid $7,279 of the loan from an officer/director. 9. On January 15, 2016, the Company settled $6,436 in JMJ Financial notes payable plus interest with 151,655 common shares. |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Oct. 31, 2015 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | (a) Principles of Consolidation The consolidated financial statements include the accounts of the Company and its 100% owned subsidiaries. All significant intercompany transactions and balances have been eliminated. |
Cash and Cash Equivalents | (b) Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. |
Government Grants and Investment Tax Credits Receivable | (c) Government Grants and Investment Tax Credits Receivable The Companys accounts include claims for investment tax credits (ITCs) relating to scientific research activities of the Company prior to July 31, 2009. The qualification and recording of this activity for ITCs purposes is established by Canadian Income Tax authorities when the income tax returns for the period are assessed. ITCs were recognized in the statement of operations in the year in which the expenses were incurred. The Company no longer qualifies to receive substantial refunds of ITCs resulting from scientific research. Currently the majority of ITCs resulting from scientific research are carried forward to a time when the Company becomes tax paying at which time said ITCs are applicable against taxes payable. |
Property and Equipment | (d) Property and Equipment Property and equipment is recorded at cost. Property and equipment is depreciated using methods and rates as follows: Furniture and Fixtures 20% declining balance Lab Equipment 20% declining balance Computer Equipment Hardware 30% declining balance Computer Equipment Software 50% declining balance Leasehold Improvements Straight-line over the lesser of the life of the asset or the life of the lease |
Patents | (e) Patents Capitalized patent costs represent legal and application costs incurred to establish patents. Capitalized patent costs are amortized on a straight-line method over the related patent term. As patents are abandoned, the net book value of the patent is written off. |
Impairment or Disposal of Long-Lived Assets | (f) Impairment or Disposal of Long-Lived Assets The Company assesses the impairment of long-lived assets under the guidance of standards for the impairment or disposal of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. For long-lived assets to be held and used, the Company recognizes an impairment loss only if its carrying amount is not recoverable and exceeds its fair value. The carrying amount of the long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposal of the asset. |
Research and Development Costs | (g) Research and Development Costs Expenditures for research and development are expensed as incurred and include, among other costs, those related to the production of prototype products, including payroll costs. Amounts expected to be received from governments under Scientific Research Tax Credit arrangements are offset against current expenses. The Company recognizes revenue from restricted grants in the period in which the Company has incurred the expenditures in compliance with the specific restrictions. |
Income Taxes | (h) Income Taxes The Company utilizes the liability method of accounting for income taxes as set forth in the authoritative guidance. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. As there is no certainty that the Company will generate taxable income in the foreseeable future to utilize tax losses accumulated to date, no provision for ultimate tax reduction has been made in these financial statements. On November 1, 2007, the Company adopted the guidance issued for accounting for uncertainty in income taxes which provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprises financial statements. Income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized upon the adoption of the guidance and in subsequent periods. The Company recognizes potential accrued interest and penalties related to unrecognized tax benefits within operations as general and administrative expense. There are no uncertain tax positions as of October 31, 2015 and 2014. |
Stock-Based Compensation | (i) Stock-Based Compensation The Company follows the authoritative guidance for stock-based compensation which requires that new, modified and unvested share-based payment transactions with employees, such as grants of stock options and restricted stock, be recognized in the financial statements based on their fair value at the grant date and recognized as compensation expense over their vesting periods. The Company has also considered the related guidance of the SEC. The Company estimates the fair value of stock options and shares issued as compensation to employees and directors as of the date of grant using the Black-Scholes pricing model and restricted stock based on the per share value. The Company also follows the guidance for equity instruments that are issued to other than employees for acquiring, or in conjunction with selling, goods or services for equity instruments issued to consultants which provides guidance on transactions in which (1) the fair value of the equity instruments is more reliably measurable than the fair value of the goods or services received and (2) the counterparty receives shares of stock, stock options, or other equity instruments in settlement of the entire transaction or, if the transaction is part cash and part equity instruments, in settlement of the portion of the transaction for which the equity instruments constitute the consideration. Options issued with a nominal exercise price in exchange for services rendered were measured at the fair value of the underlying services rendered on the date of grant. The expense is recorded to the statement of operations with a corresponding increase in share capital with no additional increase in the number of shares as they were legally not yet exercised. |
Net Loss Per Common Share | (j) Net Loss Per Common Share Basic loss per share is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. The computation of diluted loss per share does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on loss per share. |
Comprehensive Income (Loss) | (k) Comprehensive Income (Loss) Other comprehensive income (loss) includes the foreign currency translation adjustments. |
Concentration of Credit Risk | (l) Concentration of Credit Risk The Company maintains cash balances, at times, with financial institutions in excess of amounts insured by the Canada Deposit Insurance Corporation and the Federal Deposit Insurance Corporation. Management monitors the soundness of these institutions and has not experienced any collection losses with these financial institutions. |
Use of Estimates | (m) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. By their nature, these estimates are subject to uncertainty and the effect on the consolidated financial statements of changes in such estimates in future periods could be material. |
Foreign Currency Translation | (n) Foreign Currency Translation The Company maintains its accounting records for its Canadian operations in Canadian dollars. Transactions in United States dollars (USD) are translated into Canadian dollars at rates in effect at the date of the transaction and gains or losses on such transactions are recorded at the time of settlement in the statement of operations. The Companys reporting currency is the USD. Foreign denominated assets and liabilities of the Company are translated into USD at the prevailing exchange rates in effect at the end of the reporting period, the historical rate for stockholders deficiency and a weighted average of exchange rate in effect during the period for expenses, gains and losses. Adjustments that arise from translation into the reporting currency are recorded in the accumulated other comprehensive income (loss) component of stockholders deficiency. |
Financial Instruments | (o) Financial Instruments The carrying values of cash and cash equivalents, other current assets, accounts payable and accrued expenses approximate their fair values due to their short-term nature. Notes payable and convertible debentures approximate their fair value based upon recent issuances of the underlying debt. |
Derivative Instruments | (p) Derivative Instruments The Companys derivative liabilities are related to embedded conversion features of the Notes Payable. For derivative instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in fair value recognized in earnings each reporting period. The Company uses the Black-Scholes model to value the derivative instruments at inception and subsequent valuation dates and the value is re-assessed at the end of each reporting period, in accordance with Accounting Standards Codification (ASC) 815. Derivative instrument liabilities are classified in the consolidated balance sheets as current or non-current based on whether or not the net-cash settlement of the derivative instrument could be required within twelve months of the consolidated balance sheet date. |
Beneficial Conversion Charge | (q) Beneficial Conversion Charge The intrinsic value of beneficial conversion features arising from the issuance of convertible debentures with conversion rights that are in-the-money at the commitment date is recorded as debt discount and amortized to interest expense over the term of the debentures. The intrinsic value of a beneficial conversion feature is determined after initially allocating an appropriate portion of the proceeds received from the sale of the debentures to any detachable instruments, such as warrants, included in the sale or exchange based on relative fair values. |
Recently Issued Accounting Standards | (r) Recently Issued Accounting Standards Revenue From Contracts With Customers In May 2014, the FASB issued an update to ASC 606, Revenue from Contracts with Customers. This update to ASC 606 provides a five-step process to determine when and how revenue is recognized. The core principle of the guidance is that a Company should recognize revenue upon transfer of promised goods or services to customers in an amount that reflects the expected consideration to be received in exchange for those goods and services. This update to ASC 606 will also result in enhanced disclosures about revenue, providing guidance for transactions that were not previously addressed comprehensively, and improving guidance for multiple-element arrangements. This update to ASC 606 as amended is effective for the Company beginning in fiscal 2019. The Company is currently evaluating the impact of this pronouncement on its consolidated financial statements. Other pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company. |
Summary of Significant Accoun30
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Accounting Policies [Abstract] | |
Schedule of Property Plant and Equipment Depreciated Methods and Rates | Property and equipment is recorded at cost. Property and equipment is depreciated using methods and rates as follows: Furniture and Fixtures 20% declining balance Lab Equipment 20% declining balance Computer Equipment Hardware 30% declining balance Computer Equipment Software 50% declining balance Leasehold Improvements Straight-line over the lesser of the life of the asset or the life of the lease |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Cost and Accumulated Depreciation and Amortization of Property Plant and Equipment | The costs and accumulated depreciation and amortization of property and equipment are summarized as follows: October 31, 2015 2014 Furniture and Fixtures $ 12,120 $ 12,120 Lab Equipment 168,481 168,481 Computer Hardware 19,490 19,490 Computer Software 8,433 8,433 Leasehold Improvements 91,269 91,269 Total Property and Equipment 299,793 299,793 Less Accumulated Depreciation and Amortization 264,619 257,100 Property and Equipment, Net $ 35,174 $ 42,693 |
Patents (Tables)
Patents (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Costs and Accumulated Amortization of Patents | The costs and accumulated amortization of patents are summarized as follows: October 31, 2015 2014 Patents $ 146,079 $ 144,022 Less: Accumulated Amortization (43,139 ) (35,890 ) Patents, Net $ 102,940 $ 108,132 Weighted-Average Life 17 Years 17 Years |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Deferred Tax Assets Consisted of the Effects of Temporary Differences | As of October 31, 2015 and 2014, the Companys deferred tax assets consisted of the effects of temporary differences attributable to the following: October 31, 2015 2014 Temporary: Property and equipment $ 21,990 $ (24,092 ) Net operating loss carryforwards 17,568,933 18,640,188 Unrealized foreign exchange (71,958 ) 23,175 Investment tax credits 402,189 402,189 Transitional tax debits (25,076 ) (25,076 ) Unrealized loss (gain) on derivative liability 157,104 (37,181 ) Total Deferred Tax Assets 18,009,202 18,979,203 Valuation Allowance (18,009,202 ) (18,979,203 ) Net Deferred Income Taxes $ ▬ $ ▬ |
Canadian Combined Statutory Rate to the Company's Effective Tax Rate | A reconciliation of the Canadian combined statutory rate to the Companys effective tax rate for the years ended October 31, 2015 and 2014 is as follows: October 31, 2015 2014 Statutory rate 28 % 28 % Decrease in income tax rate resulting from: Permanent differences (6.0 )% (1.3 )% Change in valuation allowance (22.0 )% (26.7 )% Effective tax rate 0.0 % 0.0 % |
Accounts Payable and Accrued 34
Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities | October 31, 2015 2014 Accounts Payable $ 181,102 $ 289,054 Income Tax Reserve 487,460 321,460 Research and Development 188,458 17,004 Investor Relations 10,104 11,738 Patent Application Costs 2.419 5,026 Legal Fees 301,154 316,127 Stock Exchange Listing 15,384 ▬ Accounting Fees 58,355 60,400 Total $ 1,244,446 $ 1,020,809 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity | The following is a summary of the common stock options granted, forfeited or expired and exercised under the Plan: Weighted Average Exercise Options Price Outstanding October 31, 2013 30,000 $ 0.90 Granted ▬ ▬ Forfeited/expired ▬ ▬ Exercised ▬ ▬ Outstanding October 31, 2014 30,000 $ 0.90 Granted ▬ ▬ Forfeited/expired ▬ ▬ Exercised ▬ ▬ Outstanding October 31, 2015 30,000 $ 0.90 |
Summarizes Information on Stock Options Outstanding | The following table summarizes information on stock options outstanding at October 31, 2015 Options Outstanding and Exercisable Weighted Number Weighted Average Outstanding Average Remaining Aggregate at Exercise Life Intrinsic October 31, 2015 Price (Years) Value 30,000 $ 0.90 3.75 30,000 3.75 $ 0 |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Debt Disclosure [Abstract] | |
Summary of Notes Payable | A summary of the Notes at October 31, 2015 and 2014 is as follows: October 31, 2015 October 31, 2014 Convertible Note Payable, due February 20, 2015 $ - $ 12,529 Convertible Notes Payable, due May 23, 2015 - 105,000 Convertible Note Payable, due June 23, 2016 54,925 40,000 Convertible Note Payable, due October 22, 2015 - 35,000 Convertible Note Payable, due November 26, 2015 55,250 - Convertible Note Payable, due December 15, 2015 16,500 - Convertible Note Payable, due August 14, 2016 27,500 - Convertible Note Payable, due October 13, 2016 27,500 - Debt Discount - value attributable to conversion feature attached to Notes, net of accumulated amortization of $72,614 and $71,863 (109,061 ) (120,666 ) Total 72,614 71,863 Less: Current portion 72,614 71,863 Total Long-term portion $ - $ - |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Liabilities Measured on Recurring Basis | The following table summarizes the financial liabilities measured at fair value on a recurring basis as of October 31, 2015 and 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Quoted Prices in Significant Other Significant Total Increase (Reduction) Active Markets for Observable Unobservable in Fair Value Balance Sheet Identical Assets or Inputs Inputs October 31, 2014 Recorded at Location Liabilities (Level 1) (Level 2) (Level 3) Total October 31, 2014 Liabilities: Derivative liability on Notes Payable $ - $ - $ 201,260 $ 201,260 $ (142,054) Quoted Prices in Significant Other Significant Total Increase (Reduction) Active Markets for Observable Unobservable in Fair Value Balance Sheet Identical Assets or Inputs Inputs October 31, 2015 Recorded at Location Liabilities (Level 1) (Level 2) (Level 3) Total October 31, 2015 Liabilities: Derivative liability on Notes Payable $ - $ - $ 344,086 $ 344,086 $ 611,427 |
Schedule of Fair Value of Estimated Derivative Liabilities Weighted Average Assumption | The following table shows the weighted average assumptions the Company used to develop the fair value estimates for the determination of the derivative liability at October 31, 2015 and 2014: 2015 2014 Fair value $0.017-0.018 $0.058-0.060 Expected volatility 241-272 % 162%-169 % Dividend yield - - Expected term (in years) .06 - .95 .31-.94 Risk-free interest rate 0.11 % 0.11 % |
Schedule of Changes in Fair Value of Financial Liabilities or Derivative Liabilities | The table below sets forth a summary of changes in the fair value of the Companys Level 3 financial liability, or derivative liabilities related to the senior secured convertible notes and warrants, for the year ended October 31, 2015. 2015 2014 Balance at beginning of year $ 201,260 $ 99,702 Additions to derivative instruments 375,257 369,738 Change in fair value of derivative liabilities 611,427 (142,054 ) Settlements (843,858 ) (126,126 ) Balance at end of year $ 344,086 $ 201,260 |
Warrants (Tables)
Warrants (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Equity [Abstract] | |
Schedule of Warrants Outstanding | Outstanding warrants are as follows: October 31, 2015 2014 Issued to Flow Capital Advisors Inc. on settlement of lawsuit in August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $0.30 per common share up to and including August 23, 2016 250,000 250,000 Issued to Flow Capital Advisors Inc. on settlement of lawsuit August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $0.50 per common share up to and including August 23, 2016 250,000 250,000 Issued to Flow Capital Advisors Inc. on settlement of lawsuit August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $0.75 per common share up to and including August 23, 2016 500,000 500,000 Issued to Flow Capital Advisors Inc. on settlement of lawsuit August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $1.00 per common share up to and including August 23, 2016 500,000 500,000 Issued to Flow Capital Advisors Inc. on settlement of lawsuit August 2011, entitling the holder to purchase 1 common share in the Company at an exercise price of $0.75 per common share up to and including August 23, 2016 500,000 500,000 Issued to debenture holders February 2013 entitling the holders to purchase 1 common share in the Company at an exercise price of $0.15 per common share up to and including February 27, 2016 600,000 600,000 Issued to debenture holders May 2013 entitling the holders to purchase 1 common share in the Company at an exercise price of $0.14 per common share up to and including June 3, 2016 750,000 750,000 Issued to debenture holders June 2013 entitling the holders to purchase 1 common share in the Company at an exercise price of $0.15 per common share up to and including June 3, 2016 232,500 232,500 Issued to consultants August 5, 2013, entitling the holders to purchase 2,500,000 common shares in the Company at an exercise price of $0.15 per common share up to and including August 4, 2023 2,500,000 2,500,000 Issued to consultants August 5, 2013, entitling the holders to purchase 1,500,000 common shares in the Company at an exercise price of $0.10 per common share up to and including August 4, 2023 1,500,000 1,500,000 Issued to consultant September 3, 2013, entitling the holder to purchase 500,000 common shares in the Company at an exercise price of $0.50 per common share up to and including July 31, 2018 500,000 500,000 Issued to shareholder October 29, 2013, entitling the holder to purchase 250,000 common shares in the Company at an exercise price of $0.15 per common share up to and including October 29, 2016 250,000 250,000 Issued to shareholder November 7, 2013, entitling the holder to purchase 1 common shares in the Company at an exercise price of $0.15 per common share up to and including November 7, 2016 125,000 125,000 Total Warrants outstanding 8,457,500 8,457,500 |
Issuance of Common Stock (Table
Issuance of Common Stock (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Equity [Abstract] | |
Schedule of Common Stock Issue | During the year ended October 31, 2015 and 2014, the Company issued the following common shares: Year Ended October 31, 2015 Year Ended October 31, 2014 # of shares Amount # of shares Amount Issuance to third parties for services rendered 100,000 $ 3,045 679,615 $ 100,734 Issuance to third parties for cash 1,600,000 $ 40,000 200,000 $ 50,000 Issuance to third parties on exercise of conversion of notes payable 42,903,378 $ 422,874 1,352,991 $ 101,991 Issued to shareholder on conversion of shareholders loan 227,273 $ 22,856 - $ - Issued to debenture holders on exercise of conversion of debentures payable - $ - 9,427,576 $ 1,035,333 Issued to minority shareholders on exchange of their shares in subsidiary for shares in the Company. - $ - 296,538 $ - |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Earnings Per Share [Abstract] | |
Computation of Weighted Average Shares Outstanding for Calculating Basic and Diluted Earnings Per Share | The following table sets forth the computation of weighted-average shares outstanding for calculating basic and diluted (loss) per share: Years Ended October 31, 2015 2014 Weighted-average shares - basic 94,424,039 61,701,832 Effect of dilutive securities ▬ ▬ Weighted-average shares - diluted 94,424,039 61,701,832 |
Commitments and Contingent Li41
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
Aggregate Minimum Annual Lease Commitments Under Non-Cancelable Operating Lease | Aggregate minimum annual lease commitments of the Company under the non-cancelable operating lease as of October 31, 2015 are as follows. (The Company is required in addition to pay a proportionate share of building operational expenses.) : Year Amount 2016 $ 42,473 2017 35,394 Total Minimum Lease Payments $ 77,867 |
Supplemental Disclosure of Ca42
Supplemental Disclosure of Cash Flow Information (Tables) | 12 Months Ended |
Oct. 31, 2015 | |
Supplemental Cash Flow Information [Abstract] | |
Cash Flow Supplemental Disclosures | For the Year Ended October 31, 2015 2014 Cash paid during the period for: Interest $ 22,551 $ 16,901 Income Taxes ▬ ▬ Non-cash financing activities: Conversion of notes payable including principal, interest and original issue discount 422,874 101,991 Services rendered settled with common shares 3,045 100,734 Value of beneficial conversion feature and warrants issued with debentures issued during the year ▬ 745,121 Settlement of accrued legal by issuance of common shares ▬ 189,000 Settlement of shareholder loan with common shares 22,856 ▬ |
Basis of Presentation (Details
Basis of Presentation (Details Narrative) - USD ($) | Oct. 31, 2015 | Oct. 31, 2014 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 49,554,070 | $ 47,637,746 |
Summary of Significant Accoun44
Summary of Significant Accounting Policies (Details Narrative) | 12 Months Ended |
Oct. 31, 2015 | |
Accounting Policies [Abstract] | |
Percentage of owned subsidiaries | 100.00% |
Summary of Significant Accoun45
Summary of Significant Accounting Policies - Schedule of Property Plant and Equipment Depreciated Methods and Rates (Details) | 12 Months Ended |
Oct. 31, 2015 | |
Furniture And Fixtures [Member] | |
Property plant and equipment percentage | 20.00% |
Property, plant and equipment, depreciation method | declining balance |
Lab Equipment [Member] | |
Property plant and equipment percentage | 20.00% |
Property, plant and equipment, depreciation method | declining balance |
Computer Equipment - Hardware [Member] | |
Property plant and equipment percentage | 30.00% |
Property, plant and equipment, depreciation method | declining balance |
Computer Equipment - Software [Member] | |
Property plant and equipment percentage | 50.00% |
Property, plant and equipment, depreciation method | declining balance |
Leasehold Improvements [Member] | |
Property, plant and equipment, depreciation method | Straight-line over the lesser of |
Property and Equipment (Details
Property and Equipment (Details Narrative) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation and amortization expense | $ 7,519 | $ 10,803 |
Property and Equipment - Schedu
Property and Equipment - Schedule of Cost and Accumulated Depreciation and Amortization of Property Plant and Equipment (Details) - USD ($) | Oct. 31, 2015 | Oct. 31, 2014 |
Property, Plant and Equipment [Abstract] | ||
Furniture and Fixtures | $ 12,120 | $ 12,120 |
Lab Equipment | 168,481 | 168,481 |
Computer Hardware | 19,490 | 19,490 |
Computer Software | 8,433 | 8,433 |
Leasehold Improvements | 91,269 | 91,269 |
Total Property and Equipment | 299,793 | 299,793 |
Less Accumulated Depreciation and Amortization | 264,619 | 257,100 |
Property and Equipment, Net | $ 35,174 | $ 42,693 |
Patents (Details Narrative)
Patents (Details Narrative) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Amortization expense | $ 7,248 | $ 10,300 |
October 31, 2016 Through 2020 [Member] | ||
Amortization expense | $ 7,250 |
Patents - Schedule of Costs and
Patents - Schedule of Costs and Accumulated Amortization of Patents (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
CostAndAccumulatedAmortizationLineItems [Line Items] | ||
Patents, Net | $ 102,940 | $ 108,132 |
Patents [Member] | ||
CostAndAccumulatedAmortizationLineItems [Line Items] | ||
Patents | 146,079 | 144,022 |
Less: Accumulated Amortization | (43,139) | (35,890) |
Patents, Net | $ 102,940 | $ 108,132 |
Weighted-Average Life | 17 years | 17 years |
Due to Shareholders (Details Na
Due to Shareholders (Details Narrative) | Oct. 31, 2015 |
Due To Shareholders Details Narrative | |
Percentage of demand and carries interest per annum | 10.00% |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2012 | |
Operating Loss Carryforwards [Line Items] | |||
Estimated penalties and interest | $ 408,000 | ||
General ownership change, description | In general, an ownership change may occur from certain transactions that increase the ownership of 5% stockholders in the stock of a corporation by more than 50 percentage points over a three year period. | ||
Effective tax rate benefit recorded during period | 0.00% | 0.00% | |
Canadian Sources [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carry forwards | $ 7,457,000 | ||
Operating loss carry forwards expire term | expire from 2016 through 2035 | ||
Research and development tax credit received refund amount | $ 81,460 | ||
US Sources [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carry forwards | $ 45,532,000 | ||
Operating loss carry forwards expire term | expire from 2020 through 2034 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets Consisted of the Effects of Temporary Differences (Details) - USD ($) | Oct. 31, 2015 | Oct. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Property and equipment | $ 21,990 | $ (24,092) |
Net operating loss carryforwards | 17,568,933 | 18,640,188 |
Unrealized foreign exchange | (71,958) | 23,175 |
Investment tax credits | 402,189 | 402,189 |
Transitional tax debits | (25,076) | (25,076) |
Unrealized loss (gain) on derivative liability | 157,104 | (37,181) |
Total Deferred Tax Assets | 18,009,202 | 18,979,203 |
Valuation Allowance | $ (18,009,202) | $ (18,979,203) |
Net Deferred Income Taxes |
Income Taxes - Canadian Combine
Income Taxes - Canadian Combined Statutory Rate to the Company's Effective Tax Rate (Details) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Statutory rate | 28.00% | 28.00% |
Permanent differences | (6.00%) | (1.30%) |
Change in valuation allowance | (22.00%) | (26.70%) |
Effective tax rate | 0.00% | 0.00% |
Accounts Payable and Accrued 54
Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) | Oct. 31, 2015 | Oct. 31, 2014 |
Payables and Accruals [Abstract] | ||
Accounts Payable | $ 181,102 | $ 289,054 |
Income Tax Reserve | 487,460 | 321,460 |
Research and Development | 188,458 | 17,004 |
Investor Relations | 10,104 | 11,738 |
Patent Application Costs | 2,419 | 5,026 |
Legal Fees | 301,154 | $ 316,127 |
Stock Exchange Listing | 15,384 | |
Accounting Fees | 58,355 | $ 60,400 |
Total | $ 1,244,446 | $ 1,020,809 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details Narrative) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Equity [Abstract] | ||
Stock based employee compensation related to stock options | $ 0 | $ 0 |
Market price value per share | $ 0.04 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Common Stock Options Granted, Forfeited or Expired and Exercised Under Plan (Details) - $ / shares | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Equity [Abstract] | ||
Options, Outstanding beginning balance | 30,000 | 30,000 |
Options, Granted | ||
Options, Forfeited/Expired | ||
Options, Exercised | ||
Options, Outstanding ending balance | 30,000 | 30,000 |
Weighted Average Exercise price, Beginning balance | $ 0.90 | $ 0.90 |
Weighted Average Exercise price, Granted | ||
Weighted Average Exercise price, Forfeited/Expired | ||
Weighted Average Exercise price, Exercised | ||
Weighted Average Exercise price, Ending balance | $ 0.90 | $ 0.90 |
Stock-Based Compensation - Su57
Stock-Based Compensation - Summarizes Information on Stock Options Outstanding (Details) | 12 Months Ended |
Oct. 31, 2015USD ($)$ / sharesshares | |
Options Outstanding and Exercisable, Number Outstanding | 30,000 |
Options Outstanding and Exercisable, Weighted Average Remaining Life (Years) | 3 years 9 months |
Options Outstanding and Exercisable, Aggregate Intrinsic Value | $ | $ 0 |
Weighted Average Excercise Price $0.90 [Member] | |
Options Outstanding and Exercisable, Number Outstanding | 30,000 |
Options Outstanding and Exercisable, Weighted Average Exercise Price | $ / shares | $ 0.90 |
Weighted Average Excercise Price $0.90 [Member] | |
Options Outstanding and Exercisable, Weighted Average Remaining Life (Years) | 3 years 9 months |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | Oct. 13, 2015 | Aug. 14, 2015 | Jul. 31, 2015 | Jun. 22, 2015 | Mar. 25, 2015 | Dec. 15, 2014 | Nov. 20, 2014 | Nov. 12, 2014 | May. 23, 2014 | Nov. 19, 2012 | Oct. 31, 2015 | Oct. 31, 2013 |
NotesPayableLineItems [Line Items] | ||||||||||||
Line of credit facility, maximum borrowing capacity | $ 350,000 | |||||||||||
Increments in line of credit facility | 50,000 | |||||||||||
Line of credit facility original issue discount | $ 50,000 | |||||||||||
Line of credit facility, interest rate percentage | 5.00% | |||||||||||
Lenders right relating to notes payable description | The Lender has the right at any time to convert all or part of the outstanding principal and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of common stock of the Company at a price equal to the lesser of $0.23 and 60% of the lowest trade price in the 25 trading days previous to the conversion. | |||||||||||
Conversion price per share | $ 0.23 | |||||||||||
Debt instrument lowest trading price percentage before conversion | 60.00% | |||||||||||
Line of credit facility common stock outstanding percentage | 4.99% | |||||||||||
Remaining indebtedness | $ 77,235 | |||||||||||
Pay the lender, description | the Company agreed that on the 15th of each month commencing July 2015 and ending June 2016, the Company would either pay the lender $6,436 or issue to the lender common shares in the equivalent dollar amount at a price equal to the average closing price of the common stock in the five trading days prior to the scheduled payment date. During the year the company paid one installment in cash and a total of 655,150 common shares for three installments. | |||||||||||
Payments to lender | $ 6,436 | |||||||||||
Debt in exchange to purchase common stock shares | $ 210,355 | |||||||||||
Notes in the principal amount | $ 422,874 | |||||||||||
Notes exchanged for common stock shares issued | 42,903,378 | |||||||||||
LG Capital Funding, LLC and Adar Bays, LLC [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Proceeds from issuance of promissory note | $ 52,500 | |||||||||||
Percentage of promissory notes | 8.00% | |||||||||||
Debt instrument maturity Date | May 23, 2015 | |||||||||||
LG Capital Funding [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Percentage of debt converted into stock discount | 42.00% | |||||||||||
Debt penalties below 60 days of issuance | 130.00% | |||||||||||
Debt penalties After 60 days of issuance | 140.00% | |||||||||||
Convertible note payable | $ 36,000 | |||||||||||
Chicago Ventures [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Proceeds from issuance of promissory note | $ 50,000 | |||||||||||
Percentage of promissory notes | 10.00% | |||||||||||
Percentage of debt converted into stock discount | 40.00% | |||||||||||
Debt closing price term | 15 days | |||||||||||
IBC Funds, LLC [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Percentage of debt converted into stock discount | 40.00% | |||||||||||
Debt closing price term | 15 days | |||||||||||
Debt in exchange to purchase common stock shares | $ 78,026 | |||||||||||
LG Capital Funding, LLC [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Proceeds from issuance of promissory note | $ 52,500 | |||||||||||
Percentage of promissory notes | 8.00% | |||||||||||
Percentage of debt converted into stock discount | 42.00% | |||||||||||
Debt closing price term | 15 days | |||||||||||
Debt in exchange to purchase common stock shares | $ 36,000 | |||||||||||
Debt instrument maturity year | 1 year | |||||||||||
Adar Bays [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Proceeds from issuance of promissory note | $ 52,500 | |||||||||||
Percentage of promissory notes | 8.00% | |||||||||||
Debt instrument maturity Date | Nov. 26, 2015 | |||||||||||
Percentage of debt converted into stock discount | 40.00% | |||||||||||
Debt closing price term | 10 days | |||||||||||
Auctus Private Equity Fund, LLC [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Proceeds from issuance of promissory note | $ 55,250 | |||||||||||
Percentage of promissory notes | 8.00% | |||||||||||
Percentage of debt converted into stock discount | 45.00% | |||||||||||
Debt closing price term | 15 days | |||||||||||
Debt instrument maturity year | 9 months | |||||||||||
Iliad Research and Trading LLC [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Proceeds from issuance of promissory note | $ 27,500 | $ 27,500 | ||||||||||
Percentage of promissory notes | 10.00% | 10.00% | ||||||||||
Percentage of debt converted into stock discount | 40.00% | 40.00% | ||||||||||
Debt closing price term | 15 days | 15 days | ||||||||||
Debt instrument maturity year | 1 year | 1 year | ||||||||||
Three Installments [Member] | ||||||||||||
NotesPayableLineItems [Line Items] | ||||||||||||
Common shares paid installment | 655,150 |
Notes Payable - Summary of Note
Notes Payable - Summary of Notes Payable (Details) - USD ($) | Oct. 31, 2015 | Oct. 31, 2014 |
Short-term Debt [Line Items] | ||
Debt Discount - value attributable to conversion feature attached to Notes, net of accumulated amortization of $133,843 and $71,863 | $ (109,061) | $ (120,666) |
Total | 72,614 | 71,863 |
Less: Current portion | 72,614 | $ 71,863 |
Total Long-term portion | $ 0 | |
Convertible Note Payable, Due February 20, 2015 [Member] | ||
Short-term Debt [Line Items] | ||
Convertible Note Payable | $ 12,529 | |
Convertible Notes Payable, Due May 23, 2015 [Member] | ||
Short-term Debt [Line Items] | ||
Convertible Note Payable | 105,000 | |
Convertible Note Payable, Due June 23, 2016 [Member] | ||
Short-term Debt [Line Items] | ||
Convertible Note Payable | $ 54,925 | 40,000 |
Convertible Note Payable, Due October 22, 2015 [Member] | ||
Short-term Debt [Line Items] | ||
Convertible Note Payable | $ 35,000 | |
Convertible Note Payable, due November 26, 2015 [Member] | ||
Short-term Debt [Line Items] | ||
Convertible Note Payable | $ 55,250 | |
Convertible Note Payable, due December 15, 2015 [Member] | ||
Short-term Debt [Line Items] | ||
Convertible Note Payable | 16,500 | |
Convertible Note Payable, due August 14, 2016 [Member] | ||
Short-term Debt [Line Items] | ||
Convertible Note Payable | 27,500 | |
Convertible Note Payable, due October 13, 2016 [Member] | ||
Short-term Debt [Line Items] | ||
Convertible Note Payable | $ 27,500 |
Notes Payable - Summary of No60
Notes Payable - Summary of Notes Payable (Details) (Parenthetical) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Net of accumulated amortization | $ 72,614 | $ 71,863 |
Convertible Note Payable, Due February 20, 2015 [Member] | ||
Convertible Note Payable, maturity date | Feb. 20, 2015 | Feb. 20, 2015 |
Convertible Notes Payable, Due May 23, 2015 [Member] | ||
Convertible Note Payable, maturity date | May 23, 2015 | May 23, 2015 |
Convertible Note Payable, Due June 23, 2016 [Member] | ||
Convertible Note Payable, maturity date | Jun. 23, 2016 | Jun. 23, 2016 |
Convertible Note Payable, Due October 22, 2015 [Member] | ||
Convertible Note Payable, maturity date | Oct. 22, 2015 | Oct. 22, 2015 |
Convertible Note Payable, due November 26, 2015 [Member] | ||
Convertible Note Payable, maturity date | Nov. 26, 2015 | Nov. 26, 2015 |
Convertible Note Payable, due December 15, 2015 [Member] | ||
Convertible Note Payable, maturity date | Dec. 15, 2015 | Dec. 15, 2015 |
Convertible Note Payable, due August 14, 2016 [Member] | ||
Convertible Note Payable, maturity date | Aug. 14, 2016 | Aug. 14, 2016 |
Convertible Note Payable, due October 13, 2016 [Member] | ||
Convertible Note Payable, maturity date | Oct. 13, 2016 | Oct. 13, 2016 |
Derivative Liabilities (Details
Derivative Liabilities (Details Narrative) - USD ($) | 12 Months Ended | ||
Oct. 31, 2015 | Oct. 31, 2014 | Nov. 19, 2012 | |
Derivative liabilities | $ 344,086 | $ 201,260 | |
Conversion price per share | $ 0.23 | ||
Fair value assumptions, risk free interest rate | 0.11% | 0.11% | |
Fair value assumptions, expected term | 1 year | ||
Fair value assumptions, expected dividend rate | 0.00% | ||
Minimum [Member] | |||
Conversion price per share | $ 0.017 | ||
Fair value assumptions, expected term | 22 days | 3 months 22 days | |
Fair value assumptions, expected volatility rate | 241.00% | ||
Maximum [Member] | |||
Conversion price per share | $ 0.018 | ||
Fair value assumptions, expected term | 11 months 12 days | 11 months 9 days | |
Fair value assumptions, expected volatility rate | 272.00% |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value of Liabilities Measured on Recurring Basis (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Derivative liability on notes payable | $ 344,086 | $ 201,260 |
Total Increase (Reduction) in Fair Value Recorded | $ 611,427 | $ (142,054) |
Quoted Prices In Active Markets For Identical Assets Or Liabilities (Level 1) [Member] | ||
Derivative liability on notes payable | ||
Significant Other Observable Inputs (Level 2) [Member] | ||
Derivative liability on notes payable | ||
Significant Unobservable Inputs (Level 3) [Member] | ||
Derivative liability on notes payable | $ 344,086 | $ 201,260 |
Fair Value Measurements - Sch63
Fair Value Measurements - Schedule of Fair Value of Estimated Derivative Liabilities Weighted Average Assumption (Details) - $ / shares | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Dividend yield | ||
Expected term (in years) | 1 year | |
Risk-free interest rate | 0.11% | 0.11% |
Minimum [Member] | ||
Fair value | $ 0.017 | $ 0.058 |
Expected volatility | 241.00% | 162.00% |
Expected term (in years) | 22 days | 3 months 22 days |
Maximum [Member] | ||
Fair value | $ 0.018 | $ 0.060 |
Expected volatility | 272.00% | 169.00% |
Expected term (in years) | 11 months 12 days | 11 months 9 days |
Fair Value Measurements - Sch64
Fair Value Measurements - Schedule of Changes in Fair Value of Financial Liabilities or Derivative Liabilities (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Fair Value Disclosures [Abstract] | ||
Balance at beginning of year | $ 201,260 | $ 99,702 |
Additions to derivative instruments | 375,257 | 369,738 |
Change in fair value of derivative liabilities | 611,427 | (142,054) |
Settlements | (843,858) | (126,126) |
Balance at end of year | $ 344,086 | $ 201,260 |
Debentures Payable (Details Nar
Debentures Payable (Details Narrative) - USD ($) | Sep. 17, 2014 | Jun. 30, 2013 | May. 31, 2013 | Feb. 28, 2013 | Oct. 31, 2015 | Oct. 31, 2014 | Oct. 31, 2013 | Nov. 19, 2012 |
Short-term Debt [Line Items] | ||||||||
Conversion price per share | $ 0.23 | |||||||
Debt instrument face amount | $ 422,874 | |||||||
Proceeds from warrants | $ 306,900 | |||||||
Risk-free interest rate | 0.11% | 0.11% | ||||||
Expected life term | 1 year | |||||||
Expected dividend rate | 0.00% | |||||||
Number of shares issued for conversion | 42,903,378 | |||||||
Minimum [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Conversion price per share | $ 0.017 | |||||||
Expected life term | 22 days | 3 months 22 days | ||||||
Expected volatility rate | 241.00% | |||||||
Maximum [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Conversion price per share | $ 0.018 | |||||||
Expected life term | 11 months 12 days | 11 months 9 days | ||||||
Expected volatility rate | 272.00% | |||||||
Warrant [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Debt instrument term | 3 years | 3 years | 3 years | |||||
Series A Convertible Debenture [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Debt conversation amount | $ 288,584 | |||||||
Debt instrument, interest rate terms | 10.00% | |||||||
Debt instrument term | 3 years | |||||||
Conversion price per share | $ 0.11 | $ 0.25 | ||||||
Debt instrument, redemption description | The warrants entitle the holder to purchase 2 times the number of common shares of the Companys stock allowed in conjunction with the debentures at a price of $0.25 per share at any time up to three years. | |||||||
Number of shares issued for conversion | 9,427,576 | |||||||
Series B Convertible Debenture [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Debt instrument, interest rate terms | 10.00% | 10.00% | ||||||
Debt instrument term | 3 years | 3 years | ||||||
Conversion price per share | $ 0.11 | $ 0.25 | $ 0.25 | |||||
Debt instrument, redemption description | The warrants entitle the holder to purchase 1.5 times the number of common shares of the Companys stock allowed in conjunction with the debentures at a price of $0.15 at any time up to three years. | The warrants entitle the holder to purchase 1.5 times the number of common shares of the Companys stock allowed in conjunction with the debentures at a price of $0.15 at any time up to three years. | ||||||
Debt instrument face amount | $ 148,653 | $ 500,000 | ||||||
Proceeds from warrants | $ 343,996 | |||||||
Increase in additional paid in capital and debt discount | $ 650,896 | |||||||
Number of shares issued for conversion | 9,427,576 | |||||||
Series B Convertible Debenture [Member] | Warrant [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Risk-free interest rate | 0.18% | |||||||
Expected life term | 3 years | |||||||
Expected dividend rate | 0.00% | |||||||
Series B Convertible Debenture [Member] | Warrant [Member] | Minimum [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Expected volatility rate | 176.00% | |||||||
Series B Convertible Debenture [Member] | Warrant [Member] | Maximum [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Expected volatility rate | 195.00% | |||||||
Debt Conversion Price One [Member] | Warrant [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Conversion price per share | $ 0.25 | |||||||
Debt Conversion Price Two [Member] | Warrant [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Conversion price per share | $ 0.15 | |||||||
Convertible Debenture [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Additional beneficial conversion charge | $ 745,121 | |||||||
Convertible Debenture [Member] | Minimum [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Conversion price per share | $ 0.11 | |||||||
Convertible Debenture [Member] | Maximum [Member] | ||||||||
Short-term Debt [Line Items] | ||||||||
Conversion price per share | $ 0.25 |
Warrants - Schedule of Warrants
Warrants - Schedule of Warrants Outstanding (Details) - shares | Oct. 31, 2015 | Oct. 31, 2014 |
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 8,457,500 | 8,332,500 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit In August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $0.30 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 250,000 | 250,000 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $0.50 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 250,000 | 250,000 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $0.75 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 500,000 | 500,000 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $1.00 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 500,000 | 500,000 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $0.75 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 500,000 | 500,000 |
Issued To Debenture Holders February 2013 Entitling The Holders To Purchase 1 Common Share In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including February 27, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 600,000 | 600,000 |
Issued To Debenture Holders May 2013 Entitling The Holders To Purchase 1 Common Share In The Company At An Exercise Price Of $0.14 Per Common Share Up To And Including June 3, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 750,000 | 750,000 |
Issued To Debenture Holders June 2013 Entitling The Holders To Purchase 1 Common Share In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including June 3, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 232,500 | 232,500 |
Issued To Consultants August 5, 2013, Entitling The Holders To Purchase 2,500,000 Common Shares In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including August 4, 2023 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 2,500,000 | 2,500,000 |
Issued To Consultants August 5, 2013, Entitling The Holders To Purchase 1,500,000 Common Shares In The Company At An Exercise Price Of $0.10 Per Common Share Up To And Including August 4, 2023 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 1,500,000 | 1,500,000 |
Issued To Consultant September 3, 2013, Entitling The Holder To Purchase 500,000 Common Shares In The Company At An Exercise Price Of $0.50 Per Common Share Up To And Including July 31, 2018 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 500,000 | 500,000 |
Issued To Shareholder October 29, 2013, Entitling The Holder To Purchase 250,000 Common Shares In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including October 29, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 250,000 | 250,000 |
Issued To Shareholder November 7, 2013, Entitling The Holder To Purchase 1 Common Shares In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including November 7, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrants outstanding | 125,000 | 125,000 |
Warrants - Schedule of Warran67
Warrants - Schedule of Warrants Outstanding (Details) (Parenthetical) - $ / shares | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit In August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $0.30 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 0.30 | $ 0.30 |
Warrant, last exercisable date | Aug. 23, 2016 | Aug. 23, 2016 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $0.50 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 0.50 | $ 0.50 |
Warrant, last exercisable date | Aug. 23, 2016 | Aug. 23, 2016 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $0.75 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 0.75 | $ 0.75 |
Warrant, last exercisable date | Aug. 23, 2016 | Aug. 23, 2016 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $1.00 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 1 | $ 1 |
Warrant, last exercisable date | Aug. 23, 2016 | Aug. 23, 2016 |
Issued To Flow Capital Advisors Inc. On Settlement Of Lawsuit August 2011, Entitling The Holder To Purchase 1 Common Share In The Company At An Exercise Price Of $0.75 Per Common Share Up To And Including August 23, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 0.75 | $ 0.75 |
Warrant, last exercisable date | Aug. 23, 2016 | Aug. 23, 2016 |
Issued To Debenture Holders February 2013 Entitling The Holders To Purchase 1 Common Share In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including February 27, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 0.15 | $ 0.15 |
Warrant, last exercisable date | Feb. 27, 2016 | Feb. 27, 2016 |
Issued To Debenture Holders May 2013 Entitling The Holders To Purchase 1 Common Share In The Company At An Exercise Price Of $0.14 Per Common Share Up To And Including June 3, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 0.14 | $ 0.14 |
Warrant, last exercisable date | Jun. 3, 2016 | Jun. 3, 2016 |
Issued To Debenture Holders June 2013 Entitling The Holders To Purchase 1 Common Share In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including June 3, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 0.15 | $ 0.15 |
Warrant, last exercisable date | Jun. 3, 2016 | Jun. 3, 2016 |
Issued To Consultants August 5, 2013, Entitling The Holders To Purchase 2,500,000 Common Shares In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including August 4, 2023 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 2,500,000 | 2,500,000 |
Warrants, exercise price | $ 0.15 | $ 0.15 |
Warrant, last exercisable date | Aug. 4, 2023 | Aug. 4, 2023 |
Issued To Consultants August 5, 2013, Entitling The Holders To Purchase 1,500,000 Common Shares In The Company At An Exercise Price Of $0.10 Per Common Share Up To And Including August 4, 2023 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1,500,000 | 1,500,000 |
Warrants, exercise price | $ 0.10 | $ 0.10 |
Warrant, last exercisable date | Aug. 4, 2023 | Aug. 4, 2023 |
Issued To Consultant September 3, 2013, Entitling The Holder To Purchase 500,000 Common Shares In The Company At An Exercise Price Of $0.50 Per Common Share Up To And Including July 31, 2018 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 500,000 | 500,000 |
Warrants, exercise price | $ 0.50 | $ 0.50 |
Warrant, last exercisable date | Jul. 31, 2018 | Jul. 31, 2018 |
Issued To Shareholder October 29, 2013, Entitling The Holder To Purchase 250,000 Common Shares In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including October 29, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 250,000 | 250,000 |
Warrants, exercise price | $ 0.15 | $ 0.15 |
Warrant, last exercisable date | Oct. 29, 2016 | Oct. 29, 2016 |
Issued To Shareholder November 7, 2013, Entitling The Holder To Purchase 1 Common Shares In The Company At An Exercise Price Of $0.15 Per Common Share Up To And Including November 7, 2016 [Member] | ||
Class of Warrant or Right [Line Items] | ||
Warrant, exchange ratio to common stock | 1 | 1 |
Warrants, exercise price | $ 0.15 | $ 0.15 |
Warrant, last exercisable date | Nov. 7, 2016 | Nov. 7, 2016 |
Authorized Share Capital (Detai
Authorized Share Capital (Details Narrative) - $ / shares | Apr. 23, 2010 | Oct. 31, 2015 | Oct. 31, 2014 | Jan. 17, 2013 | Sep. 30, 2009 |
Common stock shares, authorized | 150,000,000 | 150,000,000 | 500,000,000 | ||
Excess of common stock authorized | 650,000,000 | ||||
Common stock, par value | $ 0.00001 | $ 0.00001 | $ 0.00001 | ||
Capital stock issued, par value | $ 0.00001 | ||||
Common stock authorized shares increased | 150,000,000 | ||||
Minimum [Member] | |||||
Capital stock authorized | 70,044,000 | ||||
Maximum [Member] | |||||
Capital stock authorized | 700,440,000 | ||||
Board of Directors Chairman [Member] | |||||
Common stock shares, authorized | 65,000,000 | ||||
Reverse stock split | ratio of one-for-ten and the reverse split was effective June 20, 2010. | ||||
Preferred Stock [Member] | |||||
Capital stock authorized | 5,000,000 | ||||
Common Stock [Member] | |||||
Capital stock authorized | 65,000,000 | ||||
Series 2 Class B Common Stock [Member] | |||||
Capital stock authorized | 40,000 | ||||
Series 3 Class B Common Stock [Member] | |||||
Capital stock authorized | 4,000 |
Issuance of Common Stock (Detai
Issuance of Common Stock (Details Narrative) | Oct. 31, 2015shares |
Equity [Abstract] | |
Reserved in treasury common shares for possible conversion of exercise options, warrants and debt | 24,700,000 |
Issuance of Common Stock - Sche
Issuance of Common Stock - Schedule of Common Stock Issue (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Issuance to third parties for services rendered | $ 3,045 | |
Issuance to third parties for services rendered, shares | 100,000 | |
Issuance to third parties for cash | $ 40,000 | |
Issuance to third parties for cash, shares | 1,600,000 | |
Issuance to third parties on exercise of conversion of notes payable | $ 422,874 | |
Issuance to third parties on exercise of conversion of notes payable, shares | 42,903,378 | |
Issued to shareholder on conversion of shareholder's loan | $ 22,856 | |
Issued to shareholder on conversion of shareholder's loan, shares | 227,273 | |
Issued to debenture holders on exercise of conversion of debentures payable | ||
Issued to debenture holders on exercise of conversion of debentures payable, shares | ||
Issued to minority shareholders on exchange of their shares in subsidiary for shares in the Company. | ||
Issued to minority shareholders on exchange of their shares in subsidiary for shares in the Company, shares | ||
Common Stock [Member] | ||
Issuance to third parties for services rendered | $ 100,734 | |
Issuance to third parties for services rendered, shares | 679,615 | |
Issuance to third parties for cash | $ 16 | $ 50,000 |
Issuance to third parties for cash, shares | 1,600,000 | 200,000 |
Issuance to third parties on exercise of conversion of notes payable | $ 101,991 | |
Issuance to third parties on exercise of conversion of notes payable, shares | 1,352,991 | |
Issued to shareholder on conversion of shareholder's loan | ||
Issued to shareholder on conversion of shareholder's loan, shares | ||
Issued to debenture holders on exercise of conversion of debentures payable | $ 1,035,333 | |
Issued to debenture holders on exercise of conversion of debentures payable, shares | 9,427,576 | |
Issued to minority shareholders on exchange of their shares in subsidiary for shares in the Company. | ||
Issued to minority shareholders on exchange of their shares in subsidiary for shares in the Company, shares | 296,538 |
Redemption of Class B Common 71
Redemption of Class B Common Stock (Details Narrative) | Feb. 28, 2011$ / shares |
Class B Common Stock [Member] | |
Redemption price, par value | $ 0.00001 |
Net Loss Per Share (Details Nar
Net Loss Per Share (Details Narrative) - shares | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Earnings Per Share [Abstract] | ||
Incremental shares excluded from computation of diluted earnings per share | 18,621,774 | 12,195,822 |
Net Loss Per Share - Computatio
Net Loss Per Share - Computation of Weighted Average Shares Outstanding for Calculating Basic and Diluted Earnings Per Share (Details) - shares | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Earnings Per Share [Abstract] | ||
Weighted-average shares - basic | 94,424,039 | 61,701,832 |
Effect of dilutive securities | ||
Weighted-average shares - diluted | 94,424,039 | 61,701,832 |
Commitments and Contingent Li74
Commitments and Contingent Liabilities (Details Narrative) - USD ($) | Jan. 03, 2014 | Apr. 22, 2009 | Oct. 31, 2015 | Oct. 31, 2014 |
Commitments and Contingencies Disclosure [Abstract] | ||||
Lease expense | $ 61,137 | $ 70,374 | ||
Former employee related claims | $ 514,000 | |||
Litigation amount | $ 10,000 | |||
Payment of litigation amount by shares | 700,000 |
Commitments and Contingent Li75
Commitments and Contingent Liabilities - Schedule of Aggregate Minimum Annual Lease Commitments (Details) | Oct. 31, 2015USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,016 | $ 42,473 |
2,017 | 35,394 |
Total Minimum Lease Payments | $ 77,867 |
Supplemental Disclosure of Ca76
Supplemental Disclosure of Cash Flow Information - Cash Flow Supplemental Disclosures (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2015 | Oct. 31, 2014 | |
Supplemental Cash Flow Elements [Abstract] | ||
Cash paid during the period for: Interest | $ 22,551 | $ 16,901 |
Cash paid during the period for: Income taxes | ||
Non-cash financing activities: Conversion of notes payable including principal, interest and original issue discount | $ 422,874 | $ 101,991 |
Non-cash financing activities: Services rendered settled with common shares | $ 3,045 | 100,734 |
Non-cash financing activities: Value of beneficial conversion feature and warrants issued with debentures issued during the year | 745,121 | |
Non-cash financing activities: Settlement of accrued legal by issuance of common shares | $ 189,000 | |
Non-cash financing activities: Settlement of shareholder loan with common shares | $ 22,856 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) | Jan. 15, 2016USD ($)shares | Dec. 21, 2015USD ($)shares | Dec. 15, 2015USD ($)shares | Nov. 25, 2015USD ($) | Nov. 13, 2015USD ($)shares | Nov. 04, 2015USD ($) | Nov. 03, 2015CADshares | Oct. 31, 2015USD ($)$ / sharesshares | Oct. 31, 2013shares | Nov. 15, 2015USD ($) | Nov. 03, 2015USD ($)$ / shares | Nov. 03, 2015CAD | Oct. 31, 2014USD ($)$ / shares | Sep. 30, 2009$ / shares |
Original debt amount | $ 422,874 | |||||||||||||
Conversion of notes payable into common stock | shares | 42,903,378 | |||||||||||||
Common stock, par value | $ / shares | $ 0.00001 | $ 0.00001 | $ 0.00001 | |||||||||||
Notes payable | $ (72,614) | $ (71,863) | ||||||||||||
Subsequent Event [Member] | ||||||||||||||
Original debt amount | $ 7,279 | |||||||||||||
Conversion of notes payable into common stock | shares | 205,000 | |||||||||||||
Subsequent Event [Member] | 173 Corp [Member] | ||||||||||||||
Advanced by related party | $ 288,126 | |||||||||||||
Subsequent Event [Member] | Individuals [Member] | ||||||||||||||
Note payable bearing interest rate | 10.00% | |||||||||||||
Loan received | $ 227,894 | |||||||||||||
Subsequent Event [Member] | JMJ [Member] | ||||||||||||||
Original debt amount | $ 6,436 | $ 6,436 | ||||||||||||
Conversion of notes payable into common stock | shares | 151,655 | 135,614 | 160,425 | |||||||||||
Notes payable | $ 6,436 | |||||||||||||
Subsequent Event [Member] | Bay Private Equity Inc [Member] | ||||||||||||||
Note payable bearing interest rate | 8.00% | |||||||||||||
Notes payable | $ 50,000 | |||||||||||||
Common stock of discount rate | 55.00% | |||||||||||||
Subsequent Event [Member] | Firstfire Global Opportunities Fund LLP [Member] | ||||||||||||||
Original debt amount | $ 160,500 | |||||||||||||
Note payable bearing interest rate | 4.00% | |||||||||||||
Debt instrument conversion description | Should the company fail to pay said Principal Sum plus interest on or before May 25, 2016, Firstfire may convert the Promissory Note into $240,750 worth of common shares at the lower of $.15 per common share or 40% of the lowest selling price of the common shares in the ten (10) days preceding the conversion date. | |||||||||||||
Subsequent Event [Member] | CDN [Member] | ||||||||||||||
Note payable maturity year | 5 years | |||||||||||||
Change in convertible debt | CAD | CAD 1,000,000 | |||||||||||||
Subsequent Event [Member] | Sellers [Member] | ||||||||||||||
Note payable bearing interest rate | 8.00% | 8.00% | ||||||||||||
Conversion of notes payable into common stock | shares | 20,000,000 | |||||||||||||
Common stock, par value | $ / shares | $ 0.00001 | |||||||||||||
Warrant issued to purchase common stock | shares | 10,000,000 | |||||||||||||
Note payable maturity year | 3 years | |||||||||||||
Stock exercise price per share | $ / shares | $ 0.50 | |||||||||||||
Subsequent Event [Member] | Sellers [Member] | CDN [Member] | ||||||||||||||
Original debt amount | CAD | CAD 10,000,000 | |||||||||||||
Secured debt | CAD | 2,900,000 | |||||||||||||
Notes payable | $ 50,000 | |||||||||||||
Advanced by related party | CAD | CAD 50,000 |