Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jul. 31, 2015 | Sep. 11, 2015 | |
Document And Entity Information | ||
Entity Registrant Name | INNOVATIVE DESIGNS INC | |
Entity Central Index Key | 1,190,370 | |
Document Type | 10-Q | |
Document Period End Date | Jul. 31, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --10-31 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 24,261,310 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | ivdn |
CONDENSED BALANCE SHEETS (Unaud
CONDENSED BALANCE SHEETS (Unaudited) - USD ($) | Jul. 31, 2015 | Oct. 31, 2014 |
CURRENT ASSETS | ||
Cash | $ 1,506,501 | $ 988,681 |
Accounts receivable | $ 35,182 | 64,298 |
Other receivables | 30,000 | |
Inventory - net of obsolete inventory reserve of $46,000 for 2015 and 2014 | $ 929,552 | 889,560 |
Prepaid insurance | 7,803 | 2,881 |
Total current assets | 2,479,038 | 1,975,420 |
PROPERTY AND EQUIPMENT - NET | 48,963 | $ 56,189 |
OTHER ASSETS | ||
Deposits on equipment | 200,000 | |
Deferred financing costs, net of accumulated amortization of $1,989 and $990 for 2015 and 2014 | 11 | $ 1,010 |
TOTAL ASSETS | 2,728,012 | 2,032,619 |
CURRENT LIABILITIES | ||
Accounts payable | 55,625 | 87,933 |
Current portion of notes payable | 14,974 | 59,407 |
Accrued interest expense | 136,151 | 184,487 |
Due to shareholders | 329,130 | 330,000 |
Accrued expenses | 96,354 | 87,266 |
Total current liabilities | 632,234 | 749,093 |
Long-term portion of notes payable | 243,827 | 327,529 |
TOTAL LIABILITIES | $ 876,061 | $ 1,076,622 |
STOCKHOLDERS' EQUITY | ||
Preferred stock, $0.0001 par value, 25,000,000 shares authorized | ||
Common stock, $0.0001 par value, 100,000,000 shares authorized, and 24,161,310 and 22,438,043 issued and outstanding as of July 31, 2015 and October 31, 2014 | $ 2,416 | $ 2,244 |
Additional paid-in capital | 8,758,265 | 7,522,487 |
Accumulated deficit | (6,908,730) | (6,568,734) |
Total stockholders' equity | 1,851,951 | 955,997 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,728,012 | $ 2,032,619 |
CONDENSED BALANCE SHEETS (Unau3
CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) | Jul. 31, 2015 | Oct. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Inventory obsolete reserves | $ 46,000 | $ 46,000 |
Accumulated amortization | $ 1,989 | $ 990 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 24,161,310 | 22,438,043 |
Common stock, shares outstanding | 24,161,310 | 22,438,043 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Income Statement [Abstract] | ||||
REVENUES - NET | $ 46,593 | $ 195,035 | $ 549,374 | $ 635,457 |
OPERATING EXPENSES: | ||||
Cost of sales | 24,903 | 123,782 | 277,817 | 322,938 |
Selling, general and administrative expenses | 224,426 | 169,690 | 541,207 | 515,252 |
Total Operating Expenses | 249,329 | 293,472 | 819,024 | 838,190 |
LOSS FROM OPERATIONS | (202,736) | $ (98,437) | (269,650) | $ (202,733) |
OTHER INCOME/(EXPENSE) | ||||
Miscellaneous income | 5 | 390 | ||
Interest expense | (31,227) | $ (24,812) | (70,736) | $ (88,485) |
Total other expense | (31,222) | (24,812) | (70,346) | (88,485) |
NET LOSS | $ (233,958) | $ (123,249) | $ (339,996) | $ (291,218) |
PER SHARE INFORMATION | ||||
Net Loss Per Common Share (in dollars per share) | $ (0.01) | $ (0.006) | $ (0.015) | $ (0.015) |
Weighted Average Number of Common Shares Outstanding (in shares) | 23,708,444 | 20,444,578 | 23,153,055 | 19,888,248 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Beginning at Oct. 31, 2013 | $ 1,935 | $ 5,777,606 | $ (6,134,664) | $ (355,123) |
Balance at Beginning (in shares) at Oct. 31, 2013 | 19,325,743 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Shares issued for services | $ 18 | 86,982 | 87,000 | |
Shares issued for services (in shares) | 180,000 | |||
Shares issued for debt conversion of accrued interest | $ 39 | 86,861 | 86,900 | |
Shares issued for debt conversion of accrued interest (in shares) | 392,300 | |||
Sale of stock | $ 252 | $ 1,571,038 | 1,571,290 | |
Sale of stock (in shares) | 2,540,000 | |||
Net loss | $ (434,070) | (434,070) | ||
Balance at End at Oct. 31, 2014 | $ 2,244 | $ 7,522,487 | $ (6,568,734) | 955,997 |
Balance at End (in shares) at Oct. 31, 2014 | 22,438,043 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Shares issued for services | $ 6 | 56,994 | 57,000 | |
Shares issued for services (in shares) | 65,000 | |||
Shares issued for debt conversion of accrued interest | $ 12 | 91,988 | 92,000 | |
Shares issued for debt conversion of accrued interest (in shares) | 122,667 | |||
Sale of stock | $ 154 | $ 1,086,796 | 1,086,950 | |
Sale of stock (in shares) | 1,535,600 | |||
Net loss | $ (339,996) | (339,996) | ||
Balance at End at Jul. 31, 2015 | $ 2,416 | $ 8,758,265 | $ (6,908,730) | $ 1,851,951 |
Balance at End (in shares) at Jul. 31, 2015 | 24,161,310 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | Oct. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||
Net loss | $ (233,958) | $ (123,249) | $ (339,996) | $ (291,218) | $ (434,070) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||
Common stock issued for conversion of accrued interest | 92,000 | ||||
Common stock issued for services | 57,000 | $ 57,900 | |||
Amortization | 999 | 651 | |||
Depreciation | 7,226 | 2,953 | |||
Increase (decrease) from changes in: | |||||
Accounts receivable | 29,116 | 57,729 | |||
Other receivable | 30,000 | 4,000 | |||
Inventory | $ (39,992) | (40,576) | |||
Deposits on inventory | (12,954) | ||||
Prepaid insurance | $ (4,922) | $ 5,470 | |||
Deposits on equipment | $ (200,000) | ||||
Deferred loan costs | $ (2,000) | ||||
Accounts payable | $ (32,308) | (9,910) | |||
Accrued expenses | 9,088 | 144,562 | |||
Accrued interest expense | (48,336) | (7,037) | |||
Net cash used in operating activities | $ (440,125) | (90,430) | |||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||
Capital expenditures | (4,843) | ||||
Net cash used in investing activities | (4,843) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||
Proceeds from sale of stock | $ 1,086,950 | 688,340 | |||
Payments on shareholder advances | (70,000) | (46,685) | |||
Proceeds from shareholder advances | 69,130 | 50,000 | |||
Payments on notes payable | $ (128,135) | (149,790) | |||
Proceeds from notes payable | 80,000 | ||||
Net cash provided by financing activities | $ 957,945 | 621,865 | |||
Net increase in cash | 517,820 | 526,592 | |||
CASH, BEGINNING OF YEAR | 988,681 | 69,613 | 69,613 | ||
CASH, END OF THE PERIOD | $ 1,506,501 | $ 596,205 | 1,506,501 | $ 596,205 | $ 988,681 |
Supplemental disclosure of cash flow information: | |||||
Stock issuance for conversion of accrued interest | $ 92,000 | ||||
Stock issuance for debt conversion | $ 86,900 | ||||
Cash paid for interest | $ 27,072 | $ 89,022 |
ACCOUNTING CHARGES AND ERROR CO
ACCOUNTING CHARGES AND ERROR CORRECTIONS | 9 Months Ended |
Jul. 31, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
ACCOUNTING CHARGES AND ERROR CORRECTIONS | NOTE 1. In the opinion of management, the accompanying unaudited financial statements contain all adjustments necessary to present fairly Innovative Designs, Inc.s financial position as of July 31, 2015, the changes therein for the three and nine month periods then ended and the results of operations for the three and nine month periods ended July 31, 2015 and 2014. |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Jul. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | NOTE 2. The financial statements included in the Form 10-Q are presented in accordance with the requirements of the Form and do not include all of the disclosures required by accounting principles generally accepted in the United States of America. For additional information, reference is made to the Companys annual report on Form 10-K for the fiscal year ended October 31, 2014. The results of operations for the three and nine month periods ended July 31, 2015 and 2014 are not necessarily indicative of operating results for the full year. |
INVENTORY
INVENTORY | 9 Months Ended |
Jul. 31, 2015 | |
Inventory Disclosure [Abstract] | |
INVENTORY | NOTE 3. INVENTORY Inventory consists principally of purchased finished goods. Inventory is stated at the lower of cost or market on a first-in, first-out basis. Innovative Designs, Inc. (the Company) has decided to discontinue the manufacturing of its hunting and swimming line of apparel. The Company has booked a reserve against this inventory at July 31, 2015 and October 31, 2014 of $46,000. Management will continue to evaluate its obsolete inventory reserve throughout the year and make adjustments as needed. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 9 Months Ended |
Jul. 31, 2015 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | NOTE 4. EARNINGS PER SHARE The Company calculates net income (loss) per share in accordance with Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) Topic 260 Earnings per Share |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Jul. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 5. INCOME TAXES The Company accounts for income taxes in accordance with ASC Topic 740 Income Taxes Deferred income taxes are provided for differences between the tax bases of assets and liabilities and the financial reporting amounts at the end of the period, and for net operating loss and tax credit carryforwards available to offset future taxable income. Changes in enacted tax rates or laws result in adjustments to recorded deferred tax assets and liabilities in the periods in which the tax laws are enacted or tax rates are changed. The Company will continue to evaluate its income tax obligation throughout the year and will record a tax provision when it is necessary. |
SHIPPING AND HANDLING COSTS
SHIPPING AND HANDLING COSTS | 9 Months Ended |
Jul. 31, 2015 | |
Shipping And Handling Costs [Abstract] | |
SHIPPING AND HANDLING COSTS | NOTE 6. SHIPPING AND HANDLING COSTS The Company pays shipping and handling costs on behalf of customers for purchased apparel merchandise. These costs are billed back to the customer through the billing invoice. The shipping and handling costs associated with merchandise ordered by the Company are included as part of inventory as these costs are allocated across the merchandise received. With House Wrap orders, the customer pays the shipping cost. The shipping and handling costs billed back to customer orders was approximately $29,000 and $46,000 for the nine month periods ended July 31, 2015 and 2014, respectively. These amounts are included in both revenue and selling, general and administrative expenses. |
DEBT
DEBT | 9 Months Ended |
Jul. 31, 2015 | |
Debt Disclosure [Abstract] | |
DEBT | NOTE 7. DEBT During February 2015, the Company entered into a note payable agreement with Riccelli Properties, which is wholly owned and operated by, the Companys Chief Executive Officer, Joseph Riccelli, Sr., in the amount of $69,130. This amount reflects payments made by Riccelli Properties on other debt obligations of the Company with proceeds of the sale of real estate. The note has a term of 1 year and an interest rate of 10%. |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
Jul. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
COMMON STOCK | NOTE 8. COMMON STOCK During the three month period ended January 31, 2015, the Company sold its stock to five investors. The stock was issued for prices from $.60 - $.80 per share. A total of 283,000 shares of common stock were sold, resulting in proceeds of $203,750. We believe that Section 4(2) of the Securities Act of 1933, as amended, was available because these transactions did not involve a public offering and there was no general solicitation or general advertising involved in these transactions. We placed legends on the stock certificates stating that the securities were not registered under the Securities Act and set forth the restrictions on their transferability and sale. During the three month period ended April 30, 2015, the Company sold its stock to eleven investors. The stock was issued for prices from $.60 - $.80 per share. A total of 492,600 shares of common stock were sold, resulting in proceeds of $360,700. In addition, the Company issued 10,000 shares for services performed during February 2015. The shares issued were valued at $1.20 per share or an aggregate price of $12,000. We believe that Section 4(2) of the Securities Act of 1933, as amended, was available because these transactions did not involve a public offering and there was no general solicitation or general advertising involved in these transactions. We placed legends on the stock certificates stating that the securities were not registered under the Securities Act and set forth the restrictions on their transferability and sale. During the three month period ended July 31, 2015, the Company sold its stock to eight investors. The stock was issued for prices from $.60 - $.75. A total of 760,000 shares of common stock were sold, resulting in proceeds of $522,500. In addition, the Company issued 55,000 shares to two individuals for services performed during May and June 2015. The shares were issued for prices from $.70 - $1.25 per share or an aggregate price of $45,000. Additionally during July 2015, an individual converted accrued interest of $92,000 into 122,667 shares of common stock. We believe that Section 4(2) of the Securities Act of 1933, as amended, was available because these transactions did not involve a public offering and there was no general solicitation or general advertising involved in these transactions. We placed legends on the stock certificates stating that the securities were not registered under the Securities Act and set forth the restrictions on their transferability and sale. |
SEGMENT INFORMATION
SEGMENT INFORMATION | 9 Months Ended |
Jul. 31, 2015 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | NOTE 9. SEGMENT INFORMATION We have organized our operations into two segments. We rely on an internal management reporting process that provides segment information for purposes of making financial decisions and allocating resources. The following tables present our business segment information for the nine month periods ended July 31, 2015 and 2014: 2015 2014 Revenues: Apparel $ 328,820 $ 438,588 Housewrap 220,554 196,869 Total Revenues $ 549,374 $ 635,457 Assets: Apparel $ 1,985,066 $ 1,066,275 Housewrap 742,946 328,411 Total $ 2,728,012 $ 1,394,686 Depreciation: Apparel $ 1,395 $ 1,380 Housewrap 5,831 1,573 Total $ 7,226 $ 2,953 |
DEPOSITS ON EQUIPMENT
DEPOSITS ON EQUIPMENT | 9 Months Ended |
Jul. 31, 2015 | |
Deposits On Equipment | |
DEPOSITS ON EQUIPMENT | NOTE 10. DEPOSITS ON EQUIPMENT On July 12, 2015 the Company reached an agreement with Ketut Jaya to purchase the machinery and equipment utilized to produce the INSULTEX material. The purchase price is $700,000 and to be made in four installments. The first installment of $300,000 is to be made at the execution of the agreement. The second installment of $200,000 is to be made when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000 is to be made once the machinery and equipment is producing INSULTEX, and the fourth and final installment of $100,000 is to made after the first commercial production run of INSULTEX is completed. As of July 31, 2015, the Company has made payments of $200,000. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Jul. 31, 2015 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11. SUBSEQUENT EVENTS The Company has evaluated subsequent events in accordance with ASC Topic 855, Subsequent Events In August and September 2015, the Company sold 100,000 shares of its stock to three investors. The stock was issued for prices from $.60 per share to $1.00 per share, for an aggregate price of $78,000. We believe that Section 4(2) of the Securities Act of 1933, as amended, was available because these transactions did not involve a public offering and there was no general solicitation or general advertising involved in these transactions. We placed legends on the stock certificates stating that the securities were not registered under the Securities Act and set forth the restrictions on their transferability and sale. |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 9 Months Ended |
Jul. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of segment information | The following tables present our business segment information for the nine month periods ended July 31, 2015 and 2014: 2015 2014 Revenues: Apparel $ 328,820 $ 438,588 Housewrap 220,554 196,869 Total Revenues $ 549,374 $ 635,457 Assets: Apparel $ 1,985,066 $ 1,066,275 Housewrap 742,946 328,411 Total $ 2,728,012 $ 1,394,686 Depreciation: Apparel $ 1,395 $ 1,380 Housewrap 5,831 1,573 Total $ 7,226 $ 2,953 |
INVENTORY (Details Narrative)
INVENTORY (Details Narrative) - USD ($) | Jul. 31, 2015 | Oct. 31, 2014 |
Inventory Disclosure [Abstract] | ||
Inventory valuation reserves | $ 46,000 | $ 46,000 |
SHIPPING AND HANDLING COSTS (De
SHIPPING AND HANDLING COSTS (Details Narrative) - USD ($) | 9 Months Ended | |
Jul. 31, 2015 | Jul. 31, 2014 | |
Shipping And Handling Costs [Abstract] | ||
Shipping and handling expenses | $ 29,000 | $ 46,000 |
DEBT (Details Narrative)
DEBT (Details Narrative) - Feb. 28, 2015 - Joseph Riccelli, Sr (Riccelli Properties) [Member] - USD ($) | Total |
Notes payable | $ 69,130 |
Interest rate | 10.00% |
Debt term | 1 year |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Feb. 28, 2015 | Jun. 30, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2015 | Jul. 31, 2015 | Oct. 31, 2014 | |
Value of shares issued during the period | $ 1,086,950 | $ 1,571,290 | |||||
Share price (in dollars per share) | $ 1.20 | ||||||
Number of shares issued for services | 10,000 | ||||||
Value of shares issued for services | $ 12,000 | 57,000 | 87,000 | ||||
Number of shares issued for converted accrued interest | $ 92,000 | $ 92,000 | $ 86,900 | ||||
Value of shares issued for converted accrued interest | 122,667 | ||||||
Five Investors [Member] | |||||||
Number of shares issued during the period | 283,000 | ||||||
Value of shares issued during the period | $ 203,750 | ||||||
Five Investors [Member] | Minimum [Member] | |||||||
Share price (in dollars per share) | $ 0.60 | ||||||
Five Investors [Member] | Maximum [Member] | |||||||
Share price (in dollars per share) | $ 0.80 | ||||||
Eleven Investors [Member] | |||||||
Number of shares issued during the period | 492,600 | ||||||
Value of shares issued during the period | $ 360,700 | ||||||
Eleven Investors [Member] | Minimum [Member] | |||||||
Share price (in dollars per share) | $ 0.60 | ||||||
Eleven Investors [Member] | Maximum [Member] | |||||||
Share price (in dollars per share) | $ 0.80 | ||||||
Eight Investors [Member] | |||||||
Number of shares issued during the period | 760,000 | ||||||
Value of shares issued during the period | $ 522,500 | ||||||
Eight Investors [Member] | Minimum [Member] | |||||||
Share price (in dollars per share) | $ 0.60 | $ 0.60 | |||||
Eight Investors [Member] | Maximum [Member] | |||||||
Share price (in dollars per share) | $ 0.75 | $ 0.75 | |||||
Two Individuals [Member] | |||||||
Number of shares issued for services | 55,000 | ||||||
Value of shares issued for services | $ 45,000 | ||||||
Two Individuals [Member] | Minimum [Member] | |||||||
Share price (in dollars per share) | $ 0.70 | ||||||
Two Individuals [Member] | Maximum [Member] | |||||||
Share price (in dollars per share) | $ 1.25 |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | Oct. 31, 2014 | |
Revenues | $ 46,593 | $ 195,035 | $ 549,374 | $ 635,457 | |
Assets | 2,728,012 | 1,394,686 | 2,728,012 | 1,394,686 | $ 2,032,619 |
Depreciation | 7,226 | 2,953 | |||
Apparel [Member] | |||||
Revenues | 328,820 | 438,588 | |||
Assets | 1,985,066 | 1,066,275 | 1,985,066 | 1,066,275 | |
Depreciation | 1,395 | 1,380 | |||
Housewrap [Member] | |||||
Revenues | 220,554 | 196,869 | |||
Assets | $ 742,946 | $ 328,411 | 742,946 | 328,411 | |
Depreciation | $ 5,831 | $ 1,573 |
DEPOSITS ON EQUIPMENT (Details
DEPOSITS ON EQUIPMENT (Details Narrative) - USD ($) | 9 Months Ended | |
Jul. 31, 2015 | Oct. 31, 2014 | |
Deposits On Equipment Details Narrative | ||
Deposits on equipment | $ 200,000 | |
First installment for equipment | 300,000 | |
Second installment for equipment | 200,000 | |
Third installment for equipment | 100,000 | |
Fourth installment for equipment | $ 100,000 | |
Description of assets contract | The purchase price is $700,000 and to be made in four installments. The first installment of $300,000 is to be made at the execution of the agreement. The second installment of $200,000 is to be made when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000 is to be made once the machinery and equipment is producing INSULTEX, and the fourth and final installment of $100,000 is to made after the first commercial production run of INSULTEX is completed. | |
Purchase price of equipment | $ 700,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 2 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Jul. 31, 2015 | Oct. 31, 2014 | |
Value of shares issued during the period | $ 1,086,950 | $ 1,571,290 | |
Subsequent Event [Member] | Three Investors [Member] | |||
Number of shares issued during the period | 100,000 | ||
Value of shares issued during the period | $ 78,000 | ||
Subsequent Event [Member] | Three Investors [Member] | Maximum [Member] | |||
Share price (in dollars per share) | $ 1 | ||
Subsequent Event [Member] | Three Investors [Member] | Minimum [Member] | |||
Share price (in dollars per share) | $ 0.60 |