Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Jan. 31, 2014 | Mar. 14, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'SCIVANTA MEDICAL CORP | ' |
Entity Central Index Key | '0001093285 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--10-31 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Jan-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 6,235,977 |
Balance_Sheets_Unaudited
Balance Sheets (Unaudited) (USD $) | Jan. 31, 2014 | Oct. 31, 2013 |
Current assets: | ' | ' |
Cash | $69,842 | $19,908 |
Prepaid expenses | 5,006 | 12,018 |
Total current assets | 74,848 | 31,926 |
Current liabilities: | ' | ' |
Accounts payable | 71,957 | 215,584 |
Accounts payable - related party | 66,001 | 96,659 |
Accrued expenses | 33,591 | 41,388 |
Notes payable | ' | 4,615 |
Convertible debentures | 428,894 | 300,000 |
Total current liabilities | 600,443 | 658,246 |
Convertible debenture | 100,000 | 100,000 |
Note payable | 105,000 | 105,000 |
Total liabilities | 805,443 | 863,246 |
Commitments | ' | ' |
Stockholders' deficiency: | ' | ' |
Preferred stock, $.001 par value; 20,000,000 shares authorized; no shares issued | ' | ' |
Common stock, $.001 par value; 500,000,000 and 10,000,000 shares authorized, respectively; 6,235,977 and 5,429,384 shares issued and outstanding, respectively | 6,236 | 5,429 |
Additional paid-in capital | 23,042,528 | 22,880,390 |
Accumulated deficit | -23,779,359 | -23,717,139 |
Total stockholders' deficiency | -730,595 | -831,320 |
Total liabilities and stockholders' deficiency | $74,848 | $31,926 |
Balance_Sheets_Unaudited_Paren
Balance Sheets (Unaudited) (Parenthetical) (USD $) | Jan. 31, 2014 | Oct. 31, 2013 |
Balance Sheets [Abstract] | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 500,000,000 | 10,000,000 |
Common stock, shares issued | 6,235,977 | 5,429,384 |
Common stock, shares outstanding | 6,235,977 | 5,429,384 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | |
Statements Of Operations [Abstract] | ' | ' |
Revenue | ' | ' |
Operating expenses: | ' | ' |
General and administrative | 129,113 | 66,964 |
Gain on settlement of accounts payable | -80,656 | ' |
Loss from operations | -48,457 | -66,964 |
Interest expense | -13,763 | -7,966 |
Net loss | ($62,220) | ($74,930) |
Net loss per common share, basic and diluted | ($0.01) | ($0.02) |
Weighted average number of common shares outstanding, basic and diluted | 5,639,800 | 3,240,742 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | |
Cash flows from operating activities: | ' | ' |
Net loss | ($62,220) | ($74,930) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Stock based compensation expense | 32,333 | ' |
Gain on settlement of accounts payable | -80,656 | ' |
Accretion of interest on convertible debentures | 3,506 | ' |
Changes in operating assets and liabilities: | ' | ' |
Prepaid expenses | 7,012 | 1,967 |
Accounts payable | -32,971 | 26,634 |
Accounts payable - related party | 29,342 | 15,617 |
Accrued expenses | 8,203 | 966 |
Net cash used in operating activities | -95,451 | -29,746 |
Cash flows from financing activities: | ' | ' |
Repayment of notes payable | -4,615 | ' |
Proceeds from issuance of convertible debentures | 150,000 | 50,000 |
Net cash provided by financing activities | 145,385 | 50,000 |
Increase in cash | 49,934 | 20,254 |
Cash - beginning of period | 19,908 | 64,325 |
Cash - end of period | 69,842 | 84,579 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest | 54 | ' |
Cash paid for income taxes | 500 | 500 |
Noncash financing activities: | ' | ' |
Issuance of 461,538 and 279,412 shares of common stock, respectively, as payment of accounts payable - related party | 60,000 | 95,000 |
Issuance of 230,769 shares of common stock as payment of accounts payable | 30,000 | ' |
Issuance of 114,286 and 48,000 shares of common stock, respectively, as payment of interest due on convertible debentures | 16,000 | 24,000 |
Discount recorded in connection with issuance of convertible debentures | 24,612 | ' |
Issuance of 50,000 shares of common stock as settlement of accounts payable for director fees | ' | 17,000 |
Issuance of 588,236 shares of common stock as settlement of accrued compensation and other related costs | ' | $225,627 |
Statements_of_Cash_Flows_Unaud1
Statements of Cash Flows (Unaudited) (Parenthetical) | 3 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | |
Statements Of Cash Flows [Abstract] | ' | ' |
Common stock shares issued as payment of certain accounts payable related party | 461,538 | 279,412 |
Common Stock Shares Issued As Payment Of Certain Accounts Payable | 230,769 | 230,769 |
Common stock shares issued as payment for interest due on convertible debentures | 114,286 | 48,000 |
Common stock shares issued as payment of certain accounts payable for director fees | 50,000 | 50,000 |
Common stock shares issued as payment of accrued compensation and other related costs | 588,236 | 588,236 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended | |
Jan. 31, 2014 | ||
Basis Of Presentation [Abstract] | ' | |
Basis of Presentation | ' | |
1. | Basis of Presentation | |
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has incurred significant recurring operating losses, negative cash flows from operations, a working capital deficiency and an accumulated deficit of $23,779,359 as of January 31, 2014. The Company has not made $200,000 of principal payments due on convertible debentures dated February 1, 2007 and, as a result, these obligations can be placed in default by the holders. The Company also has no lending relationships with commercial banks and is dependent on the completion of one or more financings involving the private placement of its securities in order to continue operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. | ||
The Company continues to seek equity and/or debt investors and from time to time engages placement agents to assist the Company in this initiative. Effective November 1, 2011, each of the Company’s officers agreed to waive the annual base salary due to them and each of the Company’s directors agreed to waive the annual retainer and meeting fees due to them until the Company is able to raise sufficient capital that would provide the Company with the ability to pay cash compensation to its officers and directors. The Company has also paid certain obligations with shares of its common stock and deferred certain other vendor payments until the Company secures sufficient additional financing. | ||
While the Company is pursuing the opportunities and actions described above, there can be no assurance that it will be successful in its efforts. If the Company is unable to secure additional capital, it will explore other strategic alternatives, including, but not limited to, the sale of the Company. Any additional equity financing may result in substantial dilution to our stockholders. |
Amendment_to_Restated_Articles
Amendment to Restated Articles of Incorporation | 3 Months Ended | |
Jan. 31, 2014 | ||
Amendment To Restated Articles Of Incorporation [Abstract] | ' | |
Amendment to Restated Articles of Incorporation | ' | |
2. | Amendment to Restated Articles of Incorporation | |
Effective April 22, 2013, the Company amended its restated articles of incorporation to, among other items, effectuate a 10-to-1 reverse stock split (the “Reverse Stock Split”) with respect to its outstanding shares of common stock and increase the amount of authorized capital stock to 520,000,000 shares, notwithstanding the effect of the Reverse Stock Split, consisting of 500,000,000 shares of common stock, par value $.001 per share, and 20,000,000 shares of preferred stock, par value $.001 per share. All references in the accompanying financial statements to the number of shares of common stock: (a) outstanding; (b) available for issuance under stock option plans; (c) issuable upon the exercise of outstanding stock options or warrants; and (d) issuable upon the conversion of convertible debentures, as well as all references to the related per-share amounts, including the exercise prices of stock options and warrants and the conversion prices of convertible debentures, have been restated to give effect to the Reverse Stock Split. In connection with the amendments to the restated articles of incorporation, the par value of the Company’s common stock remained $.001 per share, resulting in a reclassification between common stock and additional paid-in capital in order to account for the Reverse Stock Split. |
Amended_and_Restated_SCMS_Lice
Amended and Restated SCMS License Agreement | 3 Months Ended | |
Jan. 31, 2014 | ||
Amended and Restated Scms License Agreement Disclosure [Abstract] | ' | |
Amended and Restated SCMS License Agreement | ' | |
3. | Amended and Restated SCMS License Agreement | |
On February 14, 2011, the Company entered into an Amended and Restated Technology License Agreement with The Research Foundation of State University of New York, for and on behalf of the University at Buffalo (the “Foundation”), Donald D. Hickey, M.D. (“Hickey”) and Clas E. Lundgren (“Lundgren”). The Foundation, Hickey and Lundgren shall be collectively referred to herein as the “Licensor”. The Amended and Restated Technology License Agreement, as further amended on March 14, 2013, is referred to herein as the “License Agreement”. | ||
Pursuant to the License Agreement, the Licensor has granted Scivanta the exclusive world-wide rights to develop, manufacture and distribute the SCMS. The term of the License Agreement ends on the later of (a) the expiration date of the last to expire patent right related to the SCMS, which is currently May 1, 2027, or (b) 17 years from the sale of the first licensed product on a country by country basis. | ||
Under the License Agreement, a cash payment of $105,000 is payable to Hickey as follows: (a) $50,000 is due to Hickey on or before a date that is thirty days after the closing of any single financing by the Company of at least $3,000,000 or any series of financings by the Company within a six month period totaling at least $3,000,000; and (b) $55,000 is due to Hickey on or before the date that is thirty days after the first commercial sale of a product utilizing the licensed technology (see Note 5). | ||
In addition, upon the occurrence of certain events, the Company has agreed to issue shares of its common stock to the Licensor. On the date the Company files for approval to market and sell a product utilizing the licensed technology, the Company will issue shares of its common stock to the Licensor with a value of $130,000. On the date the Company receives approval to market and sell a product utilizing the licensed technology, the Company will issue shares of its common stock to the Licensor with a value of $160,000. The number of shares of the Company’s common stock to be issued to the Licensor will be calculated based on the market price of the Company’s common stock, as defined in the License Agreement, on the date that each of the respective above noted events occur. | ||
Scivanta is required to pay the Licensor a royalty of 5% of annual net sales, as defined in the License Agreement, subject to certain reductions as detailed in the License Agreement. Beginning with the first full year of sales of the SCMS in the United States and for two years thereafter, Scivanta is required to pay an annual minimum royalty of $100,000 to the Licensor against which any royalty on net sales paid in the same calendar year for sales in the United States will be credited. Further, beginning with the first full year of sales of the SCMS outside the United States and for two years thereafter, Scivanta is required to pay an annual minimum royalty of $100,000 to the Licensor against which any royalty on net sales paid in the same calendar year for sales outside the United States will be credited. The Company is also required to pay the Licensor 25% of all sublicensing revenue, as defined in the License Agreement, received by the Company in connection with the Company’s sublicense of the rights granted to the Company under the License Agreement. | ||
The License Agreement also requires Scivanta to use commercially reasonable efforts to develop and market the SCMS within certain timeframes, subject to specified exceptions. If Scivanta materially fails to perform any covenant, condition or undertaking of the License Agreement, including the failure to make any payments when due, the Licensor may give written notice of such default to Scivanta. If Scivanta should fail to cure a default within ninety days of notice of such default, then the Licensor, at its option, may terminate the License Agreement. Further, the License Agreement contains standard provisions regarding indemnification and patent prosecution. |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended | |
Jan. 31, 2014 | ||
Related Party Transactions [Abstract] | ' | |
Related Party Transactions | ' | |
4. | Related Party Transactions | |
David R. LaVance, the Company’s President and Chief Executive Officer, and Thomas S. Gifford, the Company’s Executive Vice President, Chief Financial Officer and Secretary, are principals of Century Capital Associates LLC (“Century Capital”). Effective February 1, 2007, the Company and Century Capital entered into a sublease agreement pursuant to which the Company rents office space approximating 2,000 square feet inside Century Capital’s existing offices. In addition, the Company rents office furniture and other equipment from Century Capital. The sublease agreement has a month to month term that requires sixty days written notice to terminate and a monthly rental fee of $5,000. The Company is responsible for all operating costs associated with the office space, including utilities, maintenance and property taxes. | ||
During the three months ended January 31, 2014, the Company was billed $18,160 pursuant to the terms of the sublease agreement. As of January 31, 2014, the Company owed Century Capital $19,892 for expenses due under the Sublease Agreement and $46,109 for other expenses, which amounts are included in accounts payable – related party (see Note 9). During the three months ended January 31, 2013, the Company was billed $17,731 pursuant to the terms of the sublease agreement. |
Note_Payable
Note Payable | 3 Months Ended | |
Jan. 31, 2014 | ||
Notes Payable [Abstract] | ' | |
Notes Payable | ' | |
5. | Notes Payable | |
Note Payable – Hickey | ||
Pursuant to the License Agreement, as amended (see Note 3), a cash payment of $105,000 is payable to Hickey as follows: (a) $50,000 is due to Hickey on or before a date that is thirty days after the closing of any single financing by the Company of at least $3,000,000 or any series of financings by the Company within a six month period totaling at least $3,000,000; and (b) $55,000 is due to Hickey on or before the date that is thirty days after the first commercial sale of a product utilizing the licensed technology. As of January 31, 2014 and October 31, 2013, the Company classified the $105,000 due to Hickey as a component of non-current notes payable. | ||
Note Payable – IPFS | ||
On March 20, 2013, the Company entered into a finance agreement with IPFS Corporation (“IPFS”). Pursuant to the terms of this finance agreement, IPFS loaned the Company the principal amount of $20,220, which amount accrued interest at a rate of 9.3% per annum, in order to partially fund the payment of the premium of the Company’s director and officer liability insurance. The finance agreement required the Company to make nine monthly payments of $2,335, including interest, commencing April 13, 2013. For the three months ended January 31, 2014, the Company recorded a total of $54 of interest expense related to this finance agreement. As of January 31, 2014, this obligation was paid in full. As of October 31, 2013, the outstanding principal balance related to this finance agreement was $4,615, which was classified as current notes payable. |
Convertible_Debentures
Convertible Debentures | 3 Months Ended | |
Jan. 31, 2014 | ||
Convertible Debentures [Abstract] | ' | |
Convertible Debentures | ' | |
6. | Convertible Debentures | |
February 2007 Convertible Debentures | ||
On February 8, 2007, the Company closed on a private placement of 8% convertible debentures dated February 1, 2007 (the “February 2007 Debentures”). The gross proceeds received in connection with this private placement were $250,000. The February 2007 Debentures originally had a three year term, maturing on January 31, 2010. In January 2010, the holders agreed to a new maturity date of January 31, 2012, extending the term of the February 2007 Debentures for an additional two year period. On January 11, 2012, the Company issued 50,000 shares of common stock as full payment of $50,000 of outstanding principal on certain February 2007 Debentures. | ||
Effective January 31, 2012, certain holders of the February 2007 Debentures with an aggregate outstanding principal amount of $175,000, agreed to amend such February 2007 Debentures by extending the maturity date to January 31, 2014. In addition, effective January 31, 2012, a holder of a February 2007 Debenture with an outstanding principal amount of $25,000 agreed to amend his February 2007 Debenture by extending the maturity date to July 31, 2012. The Company has not made payment on the remaining outstanding February 2007 Debentures and, as a result, such obligations can be placed in default by the holders. | ||
For the three months ended January 31, 2014 and 2013, the Company recorded a total of $4,032 and $3,922, respectively, of interest expense related to the February 2007 Debentures. As of January 31, 2014, $16,000 of interest due on the February 2007 Debentures was accrued and is included as a component of accrued expense. As of January 31, 2014 and October 31, 2013, the Company recorded the $200,000 of outstanding principal due on the February 2007 Debentures as a component of current convertible debentures. | ||
May 2011 Convertible Debenture | ||
On May 20, 2011, the Company issued an 8% convertible debenture in the amount of $100,000 to an institutional investor (the “May 2011 Debenture”). The May 2011 Debenture has a three year term maturing on May 20, 2014 and bears interest at a rate of 8% per annum. For each of the three months ended January 31, 2014 and 2013, the Company recorded a total of $2,017 of interest expense related to the May 2011 Debenture. As of January 31, 2014, $5,637 of interest due on the May 2011 Debenture was accrued and is included as a component of accrued expenses (see Note 9). As of January 31, 2014 and October 31, 2013, the Company recorded the $100,000 of outstanding principal due on the May 2011 Debenture as a component of current convertible debentures. | ||
August 2012 Convertible Debenture | ||
On August 15, 2012, the Company issued an 8% convertible debenture in the amount of $100,000 to an institutional investor (the “August 2012 Debenture”). The August 2012 Debenture has a three year term maturing on August 15, 2015 and bears interest at a rate of 8% per annum. For each of the three months ended January 31, 2014 and 2013, the Company recorded a total of $2,017 of interest expense related to the August 2012 Debenture. As of January 31, 2014, $3,817 of interest due on the August 2012 Debenture was accrued and is included as a component of accrued expenses (see Note 9). As of January 31, 2014 and October 31, 2013, the Company recorded the $100,000 of outstanding principal due on the August 2012 Debenture as a component of non-current convertible debenture. | ||
December 2013 Convertible Debentures and Warrants | ||
On December 12, 2013, the Company issued 10% convertible debentures to two individual investors (the “December 2013 Debentures”) and warrants (the “December 2013 Debenture Warrants”) to purchase shares of the Company’s common stock equal to 20% of the aggregate principal amount of the December 2013 Debentures. The gross proceeds received in connection with this private placement were $150,000. The December 2013 Debentures have a one year term with both principal and interest due on December 12, 2014 and bear interest at a rate of 10% per annum. | ||
The entire principal and accrued interest amount of the December 2013 Debentures is convertible into shares of the Company’s common stock at the option of the holder: (a) upon the Company issuing equity securities and/or debt in a transaction or a series of transactions resulting in aggregate gross proceeds to the Company of a least $3,000,000 (a “Qualified Financing”); (b) at the maturity date of the December 2013 Debentures; or (c) upon a change in control of the Company, as defined in the December 2013 Debentures. Upon the occurrence of a Qualified Financing, the December 2013 Debentures are convertible into shares of the Company’s common stock at a conversion price equal to: (i) 80% of the per share price paid by the purchasers of the Company’s common stock in the Qualified Financing; (ii) 80% of the per share conversion price of any instrument convertible into shares of the Company’s common stock, if no shares of the Company’s common stock are issued in the Qualified Financing; or (iii) $0.13, if no shares of the Company’s common stock or instruments convertible into shares of the Company’s common stock are issued in the Qualified Financing. On the maturity date or upon a change in control of the Company, the December 2013 Debentures are convertible into shares of the Company’s common stock at $0.13 per share. The quoted market price of the Company’s common stock as of December 12, 2013 was $0.13 per share. An aggregate of 1,153,846 shares of the Company’s common stock can be issued pursuant to the December 2013 Debentures at the current conversion price of $0.13 per share. | ||
The December 2013 Debenture Warrants have a three year term and provide the holders the right to purchase shares of the Company’s common stock equal to 20% of the principal amount of the related December 2013 Debenture divided by: (a) 80% of the per share price paid by the purchasers of Company’s common stock in a Qualified Financing; (b) 80% of the per share conversion price of any instrument convertible into shares of the Company’s common stock issued in a Qualified Financing, if no shares of Company’s common stock are issued in the Qualified Financing; or (c) $0.13, if no shares of the Company’s common stock or no instruments convertible into shares of the Company’s common stock are issued in a Qualified Financing or if a Qualified Financing is not consummated within one year from the December 2013 Debenture Warrants issuance date. An aggregate of 230,769 shares of the Company’s common stock can be issued under the December 2013 Debenture Warrants at the current exercise price of $0.13 per share. All of the shares of the Company’s common stock underlying the December 2013 Debenture Warrants vest on the earlier of (a) one year from the December 2013 Debenture Warrants issuance date, and (b) the consummation of a Qualified Financing. The exercise price of the December 2013 Debenture Warrants will be subject to adjustment for stock dividends, stock splits, or similar events (see Note 9). The fair value of the December 2013 Debenture Warrants on the date of issuance as calculated using the Black-Scholes model was $29,443, using the following weighted average assumptions: exercise price of $0.13 per share; common stock price of $0.13 per share; volatility of 271%; term of three years; dividend yield of 0%; interest rate of 0.62%; and risk of forfeiture of 0%. | ||
The Company separately accounted for the liability and equity components of these convertible debentures based upon the relative fair value of the liability and equity components on the date of issuance. As a result, the Company recorded a discount of $24,612 for the December 2013 Debentures to account for the relative fair value attributable to the December 2013 Debenture Warrants. The $24,612 debt discount will be accreted as interest expense using the effective interest method over the one-year term of the December 2013 Debentures. | ||
For the three months ended January 31, 2014, the Company recorded a total of $5,643 of interest expense ($3,506 accreted) related to the December 2013 Debentures. As of January 31, 2014, $2,137 of interest due on the December 2013 Debentures was accrued and is included as a component of accrued expenses. As of January 31, 2014, the unamortized discount on the December 2013 Debentures was $21,106 and the net carrying value of the December 2013 Debentures was $128,894, which was recorded as a component of current convertible debentures. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | |
Jan. 31, 2014 | ||
Stock-Based Compensation [Abstract] | ' | |
Stock-Based Compensation | ' | |
7. | Stock-Based Compensation | |
The Company accounts for stock-based payments to employees in accordance with Accounting Standards Codification (“ASC”) 718, “Stock Compensation” (“ASC 718”). All stock-based payments to employees are grants of stock options that are recognized in the statement of operations based on their fair values at the date of grant. During each of the three months ended January 31, 2014 and 2013, the Company did not record any employee stock-based compensation expense. | ||
The Company accounts for stock-based payments to non-employees in accordance with ASC 718 and ASC 505-50, “Equity-Based Payments to Non-Employees.” During the three months ended January 31, 2014 and 2013, the Company recorded non-employee stock-based compensation expense of $32,333 and $0, respectively, which amounts were included in general and administrative expense. |
Net_Loss_Per_Common_Share
Net Loss Per Common Share | 3 Months Ended | |
Jan. 31, 2014 | ||
Net Loss Per Common Share [Abstract] | ' | |
Net Loss Per Common Share | ' | |
8. | Net Loss Per Common Share | |
Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect, in periods in which they have a dilutive effect, the impact of common shares issuable upon exercise of stock options and warrants and conversion of convertible debt that are not deemed to be anti-dilutive. The dilutive effect of the outstanding stock options and warrants is computed using the treasury stock method. | ||
For the three months ended January 31, 2014, diluted net loss per share did not include the effect of 211,832 shares of common stock issuable upon the exercise of outstanding options, 500,769 shares of common stock issuable upon the exercise of outstanding warrants and 1,820,513 shares of common stock issuable upon the conversion of convertible debt, as their effect would be anti-dilutive. | ||
For the three months ended January 31, 2013, diluted net loss per share did not include the effect of 241,433 shares of common stock issuable upon the exercise of outstanding options, 77,000 shares of common stock issuable upon the exercise of outstanding warrants and 666,667 shares of common stock issuable upon the conversion of convertible debt, as their effect would be anti-dilutive. |
Stockholders_Equity
Stockholders' Equity | 3 Months Ended | |||||||||||||||||||||||||
Jan. 31, 2014 | ||||||||||||||||||||||||||
Stockholders' Equity [Abstract] | ' | |||||||||||||||||||||||||
Stockholders' Equity | ' | |||||||||||||||||||||||||
9. | Stockholders’ Equity | |||||||||||||||||||||||||
Issuance of Common Stock as Payment of Certain Obligations | ||||||||||||||||||||||||||
On January 8, 2014, the Company issued 461,538 shares of its common stock to Century Capital as payment of $60,000 of accounts payable – related party for office rent owed by Scivanta for the period commencing February 1, 2013 through January 31, 2014. | ||||||||||||||||||||||||||
On January 8, 2014, the Company issued 230,769 shares of its common stock as payment of $30,000 of accounts payable owed to a third party service provider. | ||||||||||||||||||||||||||
Issuance of Common Stock as Payment of Interest Due on Convertible Debentures | ||||||||||||||||||||||||||
On January 8, 2014, the Company issued 57,143 shares of its common stock to the May 2011 Debenture holder in satisfaction of $8,000 of interest due for the period May 20, 2012 through May 19, 2013. The number of shares issued as payment of the interest due was calculated based on the market price of the Company’s common stock ($0.14 per share), as defined in the May 2011 Debenture. | ||||||||||||||||||||||||||
On January 8, 2014, the Company issued 57,143 shares of its common stock to the August 2012 Debenture holder in satisfaction of $8,000 of interest due for the period August 15, 2012 through August 15, 2013. The number of shares issued as payment of the interest due was calculated based on the market price of the Company’s common stock ($0.14 per share), as defined in the August 2011 Debenture. | ||||||||||||||||||||||||||
Stock Option Plans | ||||||||||||||||||||||||||
The Company currently has two stock option plans in place: the 2002 Equity Incentive Plan and the 2007 Equity Incentive Plan (collectively, the “Equity Incentive Plans”). The 2002 Equity Incentive Plan was approved by the stockholders on July 5, 2002. The aggregate number of shares of common stock which could have been awarded under the 2002 Equity Incentive Plan was 200,000. As of January 31, 2014, options to purchase 128,500 shares of the Company’s common stock were outstanding under the 2002 Equity Incentive Plan. As a result of the adoption of the Company’s 2007 Equity Incentive Plan, no further awards are permitted under the 2002 Equity Incentive Plan. | ||||||||||||||||||||||||||
On May 31, 2007, the stockholders approved the Company’s 2007 Equity Incentive Plan. The original aggregate number of shares of common stock which could be awarded under the 2007 Equity Incentive Plan was 300,000 shares, subject to adjustment as provided in the 2007 Equity Incentive Plan. As permitted under the 2007 Equity Incentive Plan, the Company’s board of directors increased, effective December 27, 2013, the number of shares of common stock that could be awarded under the 2007 Equity Incentive Plan to 814,408 shares. As of January 31, 2014, options to purchase 83,332 shares of the Company’s common stock were outstanding under the 2007 Equity Incentive Plan and up to 731,076 shares of the Company’s common stock remain available for awards under the 2007 Equity Incentive Plan. | ||||||||||||||||||||||||||
Stock option awards under the Equity Incentive Plans were granted at prices as determined by the Company’s compensation committee, but such prices were not less than the fair market value of the Company's common stock on the date of grant. Stock options granted and outstanding include only non-qualified stock options and vest over a period of up to five years and have a maximum term of ten years from the date of grant. | ||||||||||||||||||||||||||
A summary of stock option transactions for employees and directors under the Equity Incentive Plans during the three months ended January 31, 2014 is as follows: | ||||||||||||||||||||||||||
Stock | Weighted | Aggregate | ||||||||||||||||||||||||
Option Shares | Average | Intrinsic | ||||||||||||||||||||||||
Exercise | Value | |||||||||||||||||||||||||
Price Per | ||||||||||||||||||||||||||
Common Share | ||||||||||||||||||||||||||
Outstanding at October 31, 2013 | 241,432 | $ | 1.57 | $ | -- | |||||||||||||||||||||
Granted during the period | -- | -- | ||||||||||||||||||||||||
Exercised during the period | -- | -- | ||||||||||||||||||||||||
Expired during the period | (29,600 | ) | $ | 1.03 | ||||||||||||||||||||||
Outstanding at January 31, 2014 | 211,832 | $ | 1.65 | $ | -- | |||||||||||||||||||||
Exercisable at January 31, 2014 | 211,832 | $ | 1.65 | $ | -- | |||||||||||||||||||||
Exercisable at October 31, 2013 | 241,432 | $ | 1.57 | $ | -- | |||||||||||||||||||||
Information with respect to stock options outstanding and stock options exercisable as of January 31, 2014 that were granted to employees is as follows: | ||||||||||||||||||||||||||
Stock Options Outstanding | Stock Options Exercisable | |||||||||||||||||||||||||
Exercise | Number of | Weighted | Weighted | Number of | Weighted | Weighted | ||||||||||||||||||||
Price | Shares | Average | Average | Shares | Average | Average | ||||||||||||||||||||
Available | Exercise | Remaining | Available | Exercise | Remaining | |||||||||||||||||||||
Under | Price Per | Contractual Life | for Purchase | Price Per | Contractual Life | |||||||||||||||||||||
Outstanding | Common Share | (Years) | Under | Common Share | (Years) | |||||||||||||||||||||
Stock Options | Outstanding | |||||||||||||||||||||||||
Stock Options | ||||||||||||||||||||||||||
$ | 0.2 | 3,500 | $ | 0.2 | 0.9 | 3,500 | $ | 0.2 | 0.9 | |||||||||||||||||
$ | 0.8 | 15,000 | $ | 0.8 | 1.4 | 15,000 | $ | 0.8 | 1.4 | |||||||||||||||||
$ | 1.4 | 83,332 | $ | 1.4 | 4.6 | 83,332 | $ | 1.4 | 4.6 | |||||||||||||||||
$ | 2 | 110,000 | $ | 2 | 3 | 110,000 | $ | 2 | 3 | |||||||||||||||||
211,832 | $ | 1.65 | 3.5 | 211,832 | $ | 1.65 | 3.5 | |||||||||||||||||||
Warrants to Purchase Common Stock | ||||||||||||||||||||||||||
On January 8, 2014, Scivanta issued a warrant to purchase 250,000 shares of the Company’s common stock in connection with a consulting agreement with a third party for corporate finance consulting services. The warrant has a five year term, is exercisable at $0.13 per share and vested upon issuance. The fair value of the warrants on the date of issuance as calculated using the Black-Scholes model was $32,333, using the following weighted average assumptions: exercise price of $0.13 per share; common stock price of $0.13 per share; volatility of 249%; term of five years; dividend yield of 0%; interest rate of 1.77%; and risk of forfeiture of 0%. | ||||||||||||||||||||||||||
A summary of warrant transactions during the three months ended January 31, 2014 is as follows: | ||||||||||||||||||||||||||
Warrant | Weighted | Aggregate | ||||||||||||||||||||||||
Shares | Average | Intrinsic | ||||||||||||||||||||||||
Exercise | Value | |||||||||||||||||||||||||
Price Per | ||||||||||||||||||||||||||
Common Share | ||||||||||||||||||||||||||
Outstanding at October 31, 2013 | 20,000 | $ | 0.4 | $ | -- | |||||||||||||||||||||
Issued during the period | 480,769 | $ | 0.13 | |||||||||||||||||||||||
Exercised during the period | -- | -- | ||||||||||||||||||||||||
Expired during the period | -- | -- | ||||||||||||||||||||||||
Outstanding at January 31, 2014 | 500,769 | $ | 0.14 | $ | -- | |||||||||||||||||||||
Exercisable at January 31, 2014 | 270,000 | $ | 0.15 | $ | -- | |||||||||||||||||||||
Exercisable at October 31, 2013 | 20,000 | $ | 0.4 | $ | -- | |||||||||||||||||||||
Information with respect to warrants outstanding and warrants exercisable at January 31, 2014 is as follows: | ||||||||||||||||||||||||||
Warrants Outstanding | Warrants Exercisable | |||||||||||||||||||||||||
Range of | Number of | Weighted | Weighted | Number of | Weighted | Weighted | ||||||||||||||||||||
Exercise Prices | Shares | Average | Average | Shares | Average | Average | ||||||||||||||||||||
Available | Exercise | Remaining | Available for | Exercise | Remaining | |||||||||||||||||||||
Under | Price Per | Contractual Life | Purchase | Price Per | Contractual Life | |||||||||||||||||||||
Outstanding | Common Share | (Years) | Under | Common Share | (Years) | |||||||||||||||||||||
Warrants | Outstanding | |||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||
$ | 0.13 | 480,769 | $ | 0.13 | 4.4 | 250,000 | $ | 0.13 | 4.9 | |||||||||||||||||
$ | 0.4 | 20,000 | $ | 0.4 | 0.3 | 20,000 | $ | 0.4 | 0.3 | |||||||||||||||||
500,769 | $ | 0.14 | 3.8 | 270,000 | $ | 0.15 | 4.6 |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 3 Months Ended | |||||||||||||||||||||||||
Jan. 31, 2014 | ||||||||||||||||||||||||||
Stock Option [Member] | ' | |||||||||||||||||||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | |||||||||||||||||||||||||
Summary of stock option/warrant transactions for employees and directors under the Equity Incentive Plans | ' | |||||||||||||||||||||||||
Stock | Weighted | Aggregate | ||||||||||||||||||||||||
Option Shares | Average | Intrinsic | ||||||||||||||||||||||||
Exercise | Value | |||||||||||||||||||||||||
Price Per | ||||||||||||||||||||||||||
Common Share | ||||||||||||||||||||||||||
Outstanding at October 31, 2013 | 241,432 | $ | 1.57 | $ | -- | |||||||||||||||||||||
Granted during the period | -- | -- | ||||||||||||||||||||||||
Exercised during the period | -- | -- | ||||||||||||||||||||||||
Expired during the period | (29,600 | ) | $ | 1.03 | ||||||||||||||||||||||
Outstanding at January 31, 2014 | 211,832 | $ | 1.65 | $ | -- | |||||||||||||||||||||
Exercisable at January 31, 2014 | 211,832 | $ | 1.65 | $ | -- | |||||||||||||||||||||
Exercisable at October 31, 2013 | 241,432 | $ | 1.57 | $ | -- | |||||||||||||||||||||
Information with respect to outstanding and exercisable options and warrants | ' | |||||||||||||||||||||||||
Stock Options Outstanding | Stock Options Exercisable | |||||||||||||||||||||||||
Exercise | Number of | Weighted | Weighted | Number of | Weighted | Weighted | ||||||||||||||||||||
Price | Shares | Average | Average | Shares | Average | Average | ||||||||||||||||||||
Available | Exercise | Remaining | Available | Exercise | Remaining | |||||||||||||||||||||
Under | Price Per | Contractual Life | for Purchase | Price Per | Contractual Life | |||||||||||||||||||||
Outstanding | Common Share | (Years) | Under | Common Share | (Years) | |||||||||||||||||||||
Stock Options | Outstanding | |||||||||||||||||||||||||
Stock Options | ||||||||||||||||||||||||||
$ | 0.2 | 3,500 | $ | 0.2 | 0.9 | 3,500 | $ | 0.2 | 0.9 | |||||||||||||||||
$ | 0.8 | 15,000 | $ | 0.8 | 1.4 | 15,000 | $ | 0.8 | 1.4 | |||||||||||||||||
$ | 1.4 | 83,332 | $ | 1.4 | 4.6 | 83,332 | $ | 1.4 | 4.6 | |||||||||||||||||
$ | 2 | 110,000 | $ | 2 | 3 | 110,000 | $ | 2 | 3 | |||||||||||||||||
211,832 | $ | 1.65 | 3.5 | 211,832 | $ | 1.65 | 3.5 | |||||||||||||||||||
Warrant [Member] | ' | |||||||||||||||||||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | |||||||||||||||||||||||||
Summary of stock option/warrant transactions for employees and directors under the Equity Incentive Plans | ' | |||||||||||||||||||||||||
Warrant | Weighted | Aggregate | ||||||||||||||||||||||||
Shares | Average | Intrinsic | ||||||||||||||||||||||||
Exercise | Value | |||||||||||||||||||||||||
Price Per | ||||||||||||||||||||||||||
Common Share | ||||||||||||||||||||||||||
Outstanding at October 31, 2013 | 20,000 | $ | 0.4 | $ | -- | |||||||||||||||||||||
Issued during the period | 480,769 | $ | 0.13 | |||||||||||||||||||||||
Exercised during the period | -- | -- | ||||||||||||||||||||||||
Expired during the period | -- | -- | ||||||||||||||||||||||||
Outstanding at January 31, 2014 | 500,769 | $ | 0.14 | $ | -- | |||||||||||||||||||||
Exercisable at January 31, 2014 | 270,000 | $ | 0.15 | $ | -- | |||||||||||||||||||||
Exercisable at October 31, 2013 | 20,000 | $ | 0.4 | $ | -- | |||||||||||||||||||||
Information with respect to outstanding and exercisable options and warrants | ' | |||||||||||||||||||||||||
Warrants Outstanding | Warrants Exercisable | |||||||||||||||||||||||||
Range of | Number of | Weighted | Weighted | Number of | Weighted | Weighted | ||||||||||||||||||||
Exercise Prices | Shares | Average | Average | Shares | Average | Average | ||||||||||||||||||||
Available | Exercise | Remaining | Available for | Exercise | Remaining | |||||||||||||||||||||
Under | Price Per | Contractual Life | Purchase | Price Per | Contractual Life | |||||||||||||||||||||
Outstanding | Common Share | (Years) | Under | Common Share | (Years) | |||||||||||||||||||||
Warrants | Outstanding | |||||||||||||||||||||||||
Warrants | ||||||||||||||||||||||||||
$ | 0.13 | 480,769 | $ | 0.13 | 4.4 | 250,000 | $ | 0.13 | 4.9 | |||||||||||||||||
$ | 0.4 | 20,000 | $ | 0.4 | 0.3 | 20,000 | $ | 0.4 | 0.3 | |||||||||||||||||
500,769 | $ | 0.14 | 3.8 | 270,000 | $ | 0.15 | 4.6 |
Basis_of_Presentation_Details
Basis of Presentation (Details) (USD $) | Jan. 31, 2014 | Oct. 31, 2013 |
Basis of Presentation (Textual) | ' | ' |
Accumulated deficit | ($23,779,359) | ($23,717,139) |
Principal payments on convertible debentures | $200,000 | ' |
Amendment_to_Restated_Articles1
Amendment to Restated Articles of Incorporation (Details) (USD $) | 1 Months Ended | ||
Apr. 22, 2013 | Jan. 31, 2014 | Oct. 31, 2013 | |
Amendment to Restated Articles of Incorporation (Textual) | ' | ' | ' |
Reverse stock split ratio | '10-for-1 | ' | ' |
Authorized capital stock | 520,000,000 | ' | ' |
Common stock, shares authorized | 500,000,000 | 500,000,000 | 10,000,000 |
Common stock, par value | $0.00 | $0.00 | $0.00 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 |
Preferred stock, par value | $0.00 | $0.00 | $0.00 |
Amended_and_Restated_SCMS_Lice1
Amended and Restated SCMS License Agreement (Details) (USD $) | 3 Months Ended |
Jan. 31, 2014 | |
Amended and Restated SCMS License Agreement (Textual) | ' |
Term of amended and restated license agreement, Description | 'Later of (a) the expiration date of the last to expire patent right related to the SCMS, which is currently May 1, 2027, or (b) 17 years from the sale of the first licensed product on a country by country basis. |
Cash payment to Hickey | $105,000 |
Description of restructuring of cash payment due to Hickey under license agreement | ' |
$50,000 is due to Hickey on or before a date that is thirty days after the closing of any single financing by the Company of at least $3,000,000 or any series of financings by the Company within a six month period totaling at least $3,000,000; and (b) $55,000 is due to Hickey on or before the date that is thirty days after the first commercial sale of a product utilizing the licensed technology | |
Amount of shares agreed to issue to licensor on date files for approval to market and sell a product utilizing the licensed technology | 130,000 |
Amount of shares agreed to issue to licensor on date of receives approval to market and sell a product utilizing the licensed technology | 160,000 |
Percentage of annual net sales payable to licensor as royalty under agreement | 5.00% |
Minimum royalty payment for first full year of sales of the SCMS in the United States and for two years thereafter | 100,000 |
Minimum royalty payment for first full year of sales of the SCMS outside the United States and for two years thereafter | $100,000 |
Percentage of sublicensing revenue require to pay licensor under the Amended and Restated License Agreement | 25.00% |
Related_Party_Transactions_Det
Related Party Transactions (Details) (Mr. LaVance and Mr. Gifford [Member], USD $) | 3 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | |
sqft | ||
Mr. LaVance and Mr. Gifford [Member] | ' | ' |
Related Party Transactions (Textual) | ' | ' |
Area of office space | 2,000 | ' |
Notice period to terminate sublease agreement | '60 days | ' |
Monthly rental fee | $5,000 | ' |
Sublease agreement expenses | 18,160 | 17,731 |
Rent expenses included in accounts payable - related party | 19,892 | ' |
Other expenses included in accounts payable - related party | $46,109 | ' |
Note_Payable_Details
Note Payable (Details) (USD $) | 0 Months Ended | 3 Months Ended | |
Mar. 20, 2013 | Jan. 31, 2014 | Oct. 31, 2013 | |
Installments | |||
Notes Payable (Textual) | ' | ' | ' |
Cash payment due to related party | ' | $105,000 | ' |
Notes payable due to Hickey | ' | 105,000 | 105,000 |
Principal amount of loan from IPFS | 20,220 | ' | ' |
Interest rate on loan from IPFS | 9.30% | ' | ' |
Monthly payment of Notes payable with IPFS | 2,335 | ' | ' |
Notes payable - IPFS, date of first required payment | 13-Apr-13 | ' | ' |
Notes payable - IPFS, number of periodic payments | 9 | ' | ' |
Interest expense related to financing agreement with IPFS | ' | 54 | ' |
Notes payable - IPFS, outstanding | ' | 11,407 | ' |
Description of restructuring of cash payment due to Hickey under license agreement | ' | ' | ' |
$50,000 is due to Hickey on or before a date that is thirty days after the closing of any single financing by the Company of at least $3,000,000 or any series of financings by the Company within a six month period totaling at least $3,000,000; and (b) $55,000 is due to Hickey on or before the date that is thirty days after the first commercial sale of a product utilizing the licensed technology | |||
Current notes payable | ' | ' | $4,615 |
Convertible_Debentures_Details
Convertible Debentures (Details) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | |||||||||||
Jan. 08, 2014 | Jan. 31, 2014 | Jan. 31, 2013 | Mar. 20, 2013 | Jan. 11, 2012 | Jan. 31, 2010 | Feb. 08, 2007 | Jan. 31, 2012 | Jan. 31, 2014 | Jan. 31, 2013 | Oct. 31, 2013 | 20-May-11 | Jan. 31, 2014 | Jan. 31, 2013 | Oct. 31, 2013 | Aug. 15, 2012 | Jan. 31, 2014 | Jan. 31, 2013 | Jan. 08, 2014 | Oct. 31, 2013 | Dec. 12, 2013 | Jan. 31, 2014 | |
February 2007 Convertible Debentures [Member] | February 2007 Convertible Debentures [Member] | February 2007 Convertible Debentures [Member] | February 2007 Convertible Debentures [Member] | February 2007 Convertible Debentures [Member] | February 2007 Convertible Debentures [Member] | February 2007 Convertible Debentures [Member] | May 2011 Convertible Debenture [Member] | May 2011 Convertible Debenture [Member] | May 2011 Convertible Debenture [Member] | May 2011 Convertible Debenture [Member] | August 2012 Convertible Debenture [Member] | August 2012 Convertible Debenture [Member] | August 2012 Convertible Debenture [Member] | August 2012 Convertible Debenture [Member] | August 2012 Convertible Debenture [Member] | December 2013, 10% Convertible Debentures Warrants | December 2013, 10% Convertible Debentures Warrants | |||||
Private Placement [Member] | Private Placement [Member] | |||||||||||||||||||||
Individualinvestors | ||||||||||||||||||||||
Convertible Debenture (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on convertible debentures | ' | ' | ' | 9.30% | ' | ' | 8.00% | ' | ' | ' | ' | 8.00% | ' | ' | ' | 8.00% | ' | ' | ' | ' | 10.00% | ' |
Convertible debt | ' | ' | ' | ' | ' | ' | $250,000 | ' | ' | ' | ' | $100,000 | ' | ' | ' | $100,000 | ' | ' | ' | ' | $150,000 | ' |
Shares issued for repayment of convertible debentures | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debentures | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of loan from IPFS | ' | ' | ' | 20,220 | ' | ' | ' | 175,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Maturity Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Debenture has a three year term maturing | ' | ' | ' | 'Debenture has a three year term maturing | ' | ' | ' | ' | 'one year | ' |
Original term of debt maturity | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Extension period of debt | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original maturity date of debentures | ' | ' | ' | ' | ' | ' | 31-Jan-10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Second amended maturity date of debentures | ' | ' | ' | ' | ' | 31-Jan-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debentures with extended maturity | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | 31-Jan-14 | ' | ' | ' | 20-May-14 | ' | ' | ' | 15-Aug-15 | ' | ' | ' | ' | 12-Dec-14 | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | 16,000 | ' | ' | ' | 5,637 | ' | ' | ' | 3,817 | ' | 8,000 | ' | 2,137 | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 4,032 | 3,922 | ' | ' | 2,017 | 2,017 | ' | ' | 2,017 | 2,017 | ' | ' | ' | 5,643 |
Principal outstanding of current convertible debentures | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | 200,000 | ' | 100,000 | ' | 100,000 | ' | ' | ' | ' | ' | 128,894 | ' |
Principal outstanding of non current convertible debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | 100,000 | ' | ' |
Convertible debentures to investors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' |
Principal amount of debentures in percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' |
Description of convertible common stock holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The entire principal and accrued interest amount of the December 2013 Debentures is convertible into shares of the Company's common stock at the option of the holder: (a) upon the Company issuing equity securities and/or debt in a transaction or a series of transactions resulting in aggregate gross proceeds to the Company of a least $3,000,000 (a "Qualified Financing"); (b) at the maturity date of the December 2013 Debentures; or (c) upon a change in control of the Company, as defined in the December 2013 Debentures. Upon the occurrence of a Qualified Financing, the December 2013 Debentures are convertible into shares of the Company's common stock at a conversion price equal to: (i) 80% of the per share price paid by the purchasers of the Company's common stock in the Qualified Financing; (ii) 80% of the per share conversion price of any instrument convertible into shares of the Company's common stock, if no shares of the Company's common stock are issued in the Qualified Financing; or (iii) $0.13, if no shares of the Company's common stock or instruments convertible into shares of the Company's common stock are issued in the Qualified Financing. | ' |
Aggregate amount of qualified financing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' |
Purchased of companies common stock to qualified financing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' |
Quoted market price of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.14 | ' | $0.13 | ' |
Companies common stock in shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,153,846 | ' |
Description of convertible common stock into warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The December 2013 Debenture Warrants have a three year term and provide the holders the right to purchase shares of the Company's common stock equal to 20% of the principal amount of the related December 2013 Debenture divided by: (a) 80% of the per share price paid by the purchasers of Company's common stock in a Qualified Financing; (b) 80% of the per share conversion price of any instrument convertible into shares of the Company's common stock issued in a Qualified Financing, if no shares of Company's common stock are issued in the Qualified Financing; or (c) $0.13, if no shares of the Company's common stock or no instruments convertible into shares of the Company's common stock are issued in a Qualified Financing or if a Qualified Financing is not consummated within one year from the December 2013 Debenture Warrants issuance date. An aggregate of 230,769 shares of the Company's common stock can be issued under the December 2013 Debenture Warrants at the current exercise price of $0.13 per share. All of the shares of the Company's common stock underlying the December 2013 Debenture Warrants vest on the earlier of (a) one year from the December 2013 Debenture Warrants issuance date, and (b) the consummation of a Qualified Financing. The exercise price of the December 2013 Debenture Warrants will be subject to adjustment for stock dividends, stock splits, or similar events (see Note 9). | ' |
Aggregate shares of company common stock issued to warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 230,769 | ' |
Fair value of debenture warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,443 | ' |
Fair value of exercise price, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.13 | ' |
Fair value of common stock, per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.13 | ' |
Volatility Rate | 249.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 271.00% | ' |
Terms (in years) | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend yield | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' |
Interest rate | 1.77% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk of forfeiture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Discount recorded in connection with issuance of convertible debentures | ' | 24,612 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,612 | ' |
Accretion of interest on convertible debentures | ' | 3,506 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,506 | ' |
Unamortized discount on debenture warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21,106 | ' |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 3 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | |
Stock-Based Compensation (Textual) | ' | ' |
Employee share-based compensation expense included in general and administrative expenses | ' | ' |
Non employee share-based compensation expense included in general and administrative expenses | $32,333 | $0 |
Net_Loss_Per_Common_Share_Deta
Net Loss Per Common Share (Details) | 3 Months Ended | |
Jan. 31, 2014 | Jan. 31, 2013 | |
Stock Options [Member] | ' | ' |
Net Loss Per Common Share (Textual) | ' | ' |
Anti-dilutive shares which were not included in computation of diluted per share | 211,832 | 241,433 |
Warrant [Member] | ' | ' |
Net Loss Per Common Share (Textual) | ' | ' |
Anti-dilutive shares which were not included in computation of diluted per share | 500,769 | 77,000 |
Convertible Debt Securities [Member] | ' | ' |
Net Loss Per Common Share (Textual) | ' | ' |
Anti-dilutive shares which were not included in computation of diluted per share | 1,820,513 | 666,667 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (Stock Option [Member], USD $) | 3 Months Ended |
Jan. 31, 2014 | |
Stock Option [Member] | ' |
Summary of stock option transactions for employees and directors under the Equity Incentive Plans | ' |
Stock Option/Warrants Shares, Outstanding Beginning Balance | 241,432 |
Weighted Average Exercise Price Per Common Share/Warrants, Outstanding Beginning Balance | $1.57 |
Aggregate Intrinsic Value, Outstanding Stock Option/Warrants beginning balance | ' |
Stock Option/Warrants, Granted during the period | ' |
Weighted Average Exercise Price Per Common Share/Warrants, Granted during the period | ' |
Stock Option/Warrants, Exercised during the period | ' |
Weighted Average Exercise Price Per Common Share/Warrants, Exercised during the period | ' |
Stock Option/Warrants, Expired during the period | -29,600 |
Weighted Average Exercise Price Per Common Share/Warrants, Expired during the period | $1.03 |
Stock Option/Warrants Outstanding, Ending Balance | 211,832 |
Weighted Average Exercise Price Per Common Share/Warrants Outstanding, Balance | $1.65 |
Aggregate Intrinsic Value Outstanding Stock Option/Warrants, Balance | ' |
Stock Option Shares/Warrants, Exercisable at January 31, 2014 | 211,832 |
Weighted Average Exercise Price Per Common Share/Warrants, Exercisable at January 31, 2014 | $1.65 |
Aggregate Intrinsic Value, Stock Option/Warrants Exercisable at January 31, 2014 | ' |
Stock Option/Warrants, Exercisable at October 31, 2013 | 241,432 |
Weighted Average Exercise Price Per Common Share/Warrant, Exercisable at October 31, 2013 | $1.57 |
Aggregate Intrinsic Value, Stock Option/Warrants Exercisable at October 31, 2013 | ' |
Stockholders_Equity_Details_1
Stockholders' Equity (Details 1) (Stock Option [Member], USD $) | 3 Months Ended | |
Jan. 31, 2014 | Oct. 31, 2013 | |
Schedule of outstanding and exercisable options and warrants | ' | ' |
Stock Options/ Warrants Outstanding, Number of Shares Available Under Outstanding Stock Options | 211,832 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Exercise Price Per Common Share | $1.65 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | '3 years 6 months | ' |
Stock Options/ Warrants Exercisable, Number of Shares Available for Purchase Under Outstanding Stock Options | 211,832 | 241,432 |
Stock Options/ Warrants Exercisable, Weighted Average Exercise Price Per Common Share | $1.65 | $1.57 |
Stock Options/ Warrants Exercisable, Weighted Average Remaining Contractual Life (Years) | '3 years 6 months | ' |
0.20 [Member] | ' | ' |
Schedule of outstanding and exercisable options and warrants | ' | ' |
Exercise Price | $0.20 | ' |
Stock Options/ Warrants Outstanding, Number of Shares Available Under Outstanding Stock Options | 3,500 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Exercise Price Per Common Share | $0.20 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | '10 months 24 days | ' |
Stock Options/ Warrants Exercisable, Number of Shares Available for Purchase Under Outstanding Stock Options | 3,500 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Exercise Price Per Common Share | $0.20 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Remaining Contractual Life (Years) | '10 months 24 days | ' |
0.80 [Member] | ' | ' |
Schedule of outstanding and exercisable options and warrants | ' | ' |
Exercise Price | $0.80 | ' |
Stock Options/ Warrants Outstanding, Number of Shares Available Under Outstanding Stock Options | 15,000 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Exercise Price Per Common Share | $0.80 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | '1 year 4 months 24 days | ' |
Stock Options/ Warrants Exercisable, Number of Shares Available for Purchase Under Outstanding Stock Options | 15,000 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Exercise Price Per Common Share | $0.80 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Remaining Contractual Life (Years) | '1 year 4 months 24 days | ' |
1.40 [Member] | ' | ' |
Schedule of outstanding and exercisable options and warrants | ' | ' |
Exercise Price | $1.40 | ' |
Stock Options/ Warrants Outstanding, Number of Shares Available Under Outstanding Stock Options | 83,332 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Exercise Price Per Common Share | $1.40 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | '4 years 7 months 6 days | ' |
Stock Options/ Warrants Exercisable, Number of Shares Available for Purchase Under Outstanding Stock Options | 83,332 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Exercise Price Per Common Share | $1.40 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Remaining Contractual Life (Years) | '4 years 7 months 6 days | ' |
2.00 [Member] | ' | ' |
Schedule of outstanding and exercisable options and warrants | ' | ' |
Exercise Price | $2 | ' |
Stock Options/ Warrants Outstanding, Number of Shares Available Under Outstanding Stock Options | 110,000 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Exercise Price Per Common Share | $2 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | '3 years | ' |
Stock Options/ Warrants Exercisable, Number of Shares Available for Purchase Under Outstanding Stock Options | 110,000 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Exercise Price Per Common Share | $2 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Remaining Contractual Life (Years) | '3 years | ' |
Stockholders_Equity_Details_2
Stockholders' Equity (Details 2) (Warrant [Member], USD $) | 3 Months Ended |
Jan. 31, 2014 | |
Warrant [Member] | ' |
Summary of warrant transactions | ' |
Stock Option/Warrants Shares, Outstanding Beginning Balance | 20,000 |
Weighted Average Exercise Price Per Common Share/Warrants, Outstanding Beginning Balance | $0.40 |
Aggregate Intrinsic Value, Outstanding Stock Option/Warrants beginning balance | ' |
Stock Option/Warrants, Granted during the period | 480,769 |
Weighted Average Exercise Price Per Common Share/Warrants, Granted during the period | $0.13 |
Stock Option/Warrants, Exercised during the period | ' |
Weighted Average Exercise Price Per Common Share/Warrants, Exercised during the period | ' |
Stock Option/Warrants, Expired during the period | ' |
Weighted Average Exercise Price Per Common Share/Warrants, Expired during the period | ' |
Stock Option/Warrants Outstanding, Ending Balance | 500,769 |
Weighted Average Exercise Price Per Common Share/Warrants Outstanding, Balance | $0.14 |
Aggregate Intrinsic Value Outstanding Stock Option/Warrants, Balance | ' |
Stock Option Shares/Warrants, Exercisable at January 31, 2014 | 270,000 |
Weighted Average Exercise Price Per Common Share/Warrants, Exercisable at January 31, 2014 | $0.15 |
Aggregate Intrinsic Value, Stock Option/Warrants Exercisable at January 31, 2014 | ' |
Stock Option/Warrants, Exercisable at October 31, 2013 | 20,000 |
Weighted Average Exercise Price Per Common Share/Warrant, Exercisable at October 31, 2013 | $0.40 |
Aggregate Intrinsic Value, Stock Option/Warrants Exercisable at October 31, 2013 | ' |
Stockholders_Equity_Details_3
Stockholders' Equity (Details 3) (Warrant [Member], USD $) | 3 Months Ended | |
Jan. 31, 2014 | Oct. 31, 2013 | |
Schedule of outstanding and exercisable options and warrants | ' | ' |
Stock Options/ Warrants Outstanding, Number of Shares Available Under Outstanding Stock Options | 500,769 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Exercise Price Per Common Share | $0.14 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | '3 years 9 months 18 days | ' |
Stock Options/ Warrants Exercisable, Number of Shares Available for Purchase Under Outstanding Stock Options | 270,000 | 20,000 |
Stock Options/ Warrants Exercisable, Weighted Average Exercise Price Per Common Share | $0.15 | $0.40 |
Stock Options/ Warrants Exercisable, Weighted Average Remaining Contractual Life (Years) | '4 years 7 months 6 days | ' |
0.13 [Member] | ' | ' |
Schedule of outstanding and exercisable options and warrants | ' | ' |
Range of Exercise Prices | $0.13 | ' |
Stock Options/ Warrants Outstanding, Number of Shares Available Under Outstanding Stock Options | 480,769 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Exercise Price Per Common Share | $0.13 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | '4 years 4 months 24 days | ' |
Stock Options/ Warrants Exercisable, Number of Shares Available for Purchase Under Outstanding Stock Options | 250,000 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Exercise Price Per Common Share | $0.13 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Remaining Contractual Life (Years) | '4 years 10 months 24 days | ' |
0.40 [Member] | ' | ' |
Schedule of outstanding and exercisable options and warrants | ' | ' |
Range of Exercise Prices | $0.40 | ' |
Stock Options/ Warrants Outstanding, Number of Shares Available Under Outstanding Stock Options | 20,000 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Exercise Price Per Common Share | $0.40 | ' |
Stock Options/ Warrants Outstanding, Weighted Average Remaining Contractual Life (Years) | '3 months 18 days | ' |
Stock Options/ Warrants Exercisable, Number of Shares Available for Purchase Under Outstanding Stock Options | 20,000 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Exercise Price Per Common Share | $0.40 | ' |
Stock Options/ Warrants Exercisable, Weighted Average Remaining Contractual Life (Years) | '3 months 18 days | ' |
Stockholders_Equity_Details_Te
Stockholders' Equity (Details Textual) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | |||||||
Jan. 08, 2014 | Jan. 31, 2014 | Jan. 31, 2013 | Jan. 08, 2014 | Jan. 08, 2014 | Jan. 08, 2014 | Jan. 08, 2014 | Jan. 31, 2014 | Jan. 31, 2014 | Jan. 31, 2014 | 31-May-07 | Jul. 05, 2002 | |
Third Party [Member] | May 2011, Debenture [Member] | Through January 31, 2014 [Member] | August 2012 Convertible Debenture [Member] | August 2012 Convertible Debenture [Member] | 2002 Equity Incentive Plan [Member] | 2007 Equity Incentive Plan [Member] | 2007 Equity Incentive Plan [Member] | 2007 Equity Incentive Plan [Member] | ||||
Forecost [Member] | ||||||||||||
Stockholders' Equity (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate number of shares of common stock which could have been awarded | ' | ' | ' | ' | ' | ' | ' | ' | 128,500 | ' | 300,000 | 200,000 |
Stock options/ warrants outstanding, number of common shares available under outstanding stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83,332 | ' | ' |
Common Stock Shares Issued As Payment Of Certain Accounts Payable Related Party | ' | 461,538 | 279,412 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued shares as full payment of accrued compensation | ' | ' | ' | 230,769 | 57,143 | ' | 57,143 | ' | ' | ' | ' | ' |
Accrued rent | ' | ' | ' | $30,000 | ' | $60,000 | ' | ' | ' | ' | ' | ' |
Interest Payable | ' | ' | ' | ' | 8,000 | ' | 8,000 | 3,817 | ' | ' | ' | ' |
Quoted market price of common stock | ' | ' | ' | ' | $0.14 | ' | $0.14 | ' | ' | ' | ' | ' |
Stock issued during period, to third party | ' | ' | ' | ' | ' | ' | ' | ' | ' | 814,408 | ' | ' |
Common stock remain available for award | ' | ' | ' | ' | ' | ' | ' | ' | ' | 731,076 | ' | ' |
Sale of common stock | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity period of warrants | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable price of warrants | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock price per share | ' | ' | ' | ' | ' | ' | ' | ' | $0.13 | ' | ' | ' |
Volatility rate | 249.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | 1.77% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, exercise price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | 0.13 | ' | ' | ' |
Terms (in years) | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of option issued | $32,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend yield | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk of Forfeited rate | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |