| Significant and Critical Accounting Policies (Policies) | 9 Months Ended |
| Jul. 31, 2016 |
| Accounting Policies [Abstract] | |
| Basis of Presentation - Unaudited Interim Financial Information | The accompanying unaudited interim consolidated financial statements
and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America
(U.S. GAAP) for interim financial information, and with the rules and regulations of the United States Securities
and Exchange Commission (SEC) to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include
all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim
financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management,
necessary to a fair statement of the results for the interim periods presented. Interim results are not necessarily
indicative of the results for the full year. These unaudited interim consolidated financial statements should be read
in conjunction with the consolidated financial statements of the Company for the fiscal year ended October 31, 2015 and notes thereto
contained in the Companys Annual Report on Form 10-K filed with the SEC on January 28, 2016. |
| Fiscal Year End | The Company elected October 31st as its fiscal year ending date. |
| Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions | The preparation of financial statements in conformity with U.S.
GAAP 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. Critical accounting estimates are estimates for which (a) the nature
of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or
the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance
is material. The Companys critical accounting estimates and assumptions affecting the financial statements were: (i) Assumption
as a going concern (ii) Allowance
for doubtful accounts: (iii) Fair
value of long-lived assets: (iv) Valuation
allowance for deferred tax assets: (v) Estimates
and assumptions used in valuation of derivative liability and equity instruments: These significant accounting estimates or assumptions bear the risk
of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions
are difficult to measure or value. Management bases its estimates on historical experience and on various
assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances,
the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily
apparent from other sources. Management regularly evaluates the key factors and assumptions used
to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and
reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. |
| Principles of Consolidation and Corporate Structure | The Company applies the guidance of Topic 810 Consolidation
of the FASB Accounting Standards Codification ("ASC") to determine whether and how to consolidate another entity. Pursuant
to ASC Paragraph 810-10-15-10 all majority-owned subsidiariesall entities in which a parent has a controlling financial
interestshall be consolidated except (1) when control does not rest with the parent, the majority owner; (2) if the parent
is a broker-dealer within the scope of Topic 940 and control is likely to be temporary; (3) consolidation by an investment company
within the scope of Topic 946 of a non-investment-company investee. Pursuant to ASC Paragraph 810-10-15-8 the usual
condition for a controlling financial interest is ownership of a majority voting interest, and, therefore, as a general rule ownership
by one reporting entity, directly or indirectly, of more than 50 percent of the outstanding voting shares of another entity is
a condition pointing toward consolidation. The power to control may also exist with a lesser percentage of ownership,
for example, by contract, lease, agreement with other stockholders, or by court decree. The Company consolidates all less-than-majority-owned
subsidiaries, if any, in which the parents power to control exists. The Company's consolidated subsidiaries and/or entities are as follows:
Name of Subsidiary or Consolidated Entity
Place of Formation/Incorporation (Jurisdiction)
Date of Incorporation (Date of Disposition, if Applicable) Attributable Interest
Endeavor MeshTech, Inc. Delaware May 6, 2013 100 %
Endeavor Energy, Inc. Delaware July 8, 2013 100 % All inter-company balances and transactions have been eliminated. |
| Reclassification | Certain amounts in the prior period financial statements have been
reclassified to conform to the current period presentation. These reclassifications had no effect on reported losses. |
| Fair Value of Financial Instruments | The Company follows paragraph 820-10-35-37 of the FASB Accounting
Standards Codification (Paragraph 820-10 35-37) to measure the fair value of its financial instruments and paragraph
825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments. Paragraph
820-10-35-37 establishes a framework for measuring fair value in accordance with U.S. GAAP, and expands disclosures about fair
value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37
establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3)
broad levels. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:
Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are
determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption
or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices
(unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If
the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization
is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Companys financial assets and
liabilities, such as cash, accounts receivable, accounts payable and accrued expenses, payroll tax payable and accrued interest approximate
their fair values because of the short maturity of these instruments. The Companys convertible notes payable and notes payable
approximate their fair value of such instruments based upon managements best estimate of interest rates that would be available
to the Company for similar financial arrangements at July 31, 2016 and October 31, 2015. The Company uses Level 3 of the fair value hierarchy to measure
the fair value of the derivative liabilities and revalues its derivative liability at every reporting period and recognizes gains
or losses in the statements of operations that are attributable to the change in the fair value of the derivative conversion feature
and warrant liability. Transactions involving related parties cannot be presumed to be
carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations
about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms
equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated. |
| Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis | Level 3 Financial Liabilities
Derivative conversion features The Company uses Level 3 of the fair value hierarchy to measure
the fair value of the derivative liabilities and revalues its derivative warrant liability and derivative liability on the conversion
feature at every reporting period and recognizes gains or losses in the consolidated statements of operations that are attributable
to the change in the fair value of the derivative liabilities. |
| Carrying Value, Recoverability and Impairment of Long-Lived Assets | The Company has adopted Section 360-10-35 of the FASB Accounting
Standards Codification for its long-lived assets. Pursuant to ASC Paragraph 360-10-35-17 an impairment loss shall be recognized
only if the carrying amount of a long-lived asset (asset group) is not recoverable and exceeds its fair value. The carrying amount
of a long-lived asset (asset group) is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result
from the use and eventual disposition of the asset (asset group). That assessment shall be based on the carrying amount of the
asset (asset group) at the date it is tested for recoverability. An impairment loss shall be measured as the amount by which the
carrying amount of a long-lived asset (asset group) exceeds its fair value. Pursuant to ASC Paragraph 360-10-35-20 if an impairment
loss is recognized, the adjusted carrying amount of a long-lived asset shall be its new cost basis. For a depreciable long-lived
asset, the new cost basis shall be depreciated (amortized) over the remaining useful life of that asset. Restoration of a previously
recognized impairment loss is prohibited. Pursuant to ASC Paragraph 360-10-35-21 the Companys long-lived
asset (asset group) is tested for recoverability whenever events or changes in circumstances indicate that its carrying amount
may not be recoverable. The Company considers the following to be some examples of such events or changes in circumstances that
may trigger an impairment review: (a) significant decrease in the market price of a long-lived asset (asset group); (b) A significant
adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition; (c)
A significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset (asset
group), including an adverse action or assessment by a regulator; (d) An accumulation of costs significantly in excess of the amount
originally expected for the acquisition or construction of a long-lived asset (asset group); (e) A current-period operating or
cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing
losses associated with the use of a long-lived asset (asset group); and (f) A current expectation that, more likely than not, a
long-lived asset (asset group) will be sold or otherwise disposed of significantly before the end of its previously estimated useful
life. The Company tests its long-lived assets for potential impairment indicators at least annually and more frequently upon the
occurrence of such events. Pursuant to ASC Paragraphs 360-10-35-29 through 35-36 Estimates
of future cash flows used to test the recoverability of a long-lived asset (asset group) shall include only the future cash flows
(cash inflows less associated cash outflows) that are directly associated with and that are expected to arise as a direct result
of the use and eventual disposition of the asset (asset group). Estimates of future cash flows used to test the recoverability
of a long-lived asset (asset group) shall incorporate the entitys own assumptions about its use of the asset (asset group)
and shall consider all available evidence. The assumptions used in developing those estimates shall be reasonable in relation to
the assumptions used in developing other information used by the entity for comparable periods, such as internal budgets and projections,
accruals related to incentive compensation plans, or information communicated to others. However, if alternative courses of action
to recover the carrying amount of a long-lived asset (asset group) are under consideration or if a range is estimated for the amount
of possible future cash flows associated with the likely course of action, the likelihood of those possible outcomes shall be considered.
A probability-weighted approach may be useful in considering the likelihood of those possible outcomes. Estimates of future cash
flows used to test the recoverability of a long-lived asset (asset group) shall be made for the remaining useful life of the asset
(asset group) to the entity. For long-lived assets (asset groups) that have uncertainties both in timing and amount,
an expected present value technique will often be the appropriate technique with which to estimate fair value. Pursuant to ASC Paragraphs 360-10-45-4 and 360-10-45-5 an impairment
loss recognized for a long-lived asset (asset group) to be held and used shall be included in income from continuing operations
before income taxes in the income statement of a business entity. If a subtotal such as income from operations is presented, it
shall include the amount of that loss. A gain or loss recognized on the sale of a long-lived asset (disposal group) that is not
a component of an entity shall be included in income from continuing operations before income taxes in the income statement of
a business entity. If a subtotal such as income from operations is presented, it shall include the amounts of those gains or losses. |
| Cash Equivalents | The Company considers all highly liquid investments with a maturity
of three months or less when purchased to be cash equivalents. |
| Accounts Receivable and Allowance for Doubtful Accounts | Pursuant to FASB ASC Paragraph 310-10-35-47, trade receivables that
management has the intent and ability to hold for the foreseeable future shall be reported in the balance sheet at outstanding
principal adjusted for any charge-offs and the allowance for doubtful accounts. The Company follows FASB ASC Paragraphs 310-10-35-7
through 310-10-35-10 to estimate the allowance for doubtful accounts. Pursuant to FASB ASC Paragraph 310-10-35-9, losses from uncollectible
receivables shall be accrued when both of the following conditions are met: (a) information available before the financial statements
are issued or are available to be issued (as discussed in Section 855-10-25) indicates that it is probable that an asset has been
impaired at the date of the financial statements, and (b) the amount of the loss can be reasonably estimated. Those conditions
may be considered in relation to individual receivables or in relation to groups of similar types of receivables. If the conditions
are met, accrual shall be made even though the particular receivables that are uncollectible may not be identifiable. The Company
reviews individually each trade receivable for collectability and performs on-going credit evaluations of its customers and adjusts
credit limits based upon payment history and the customers current credit worthiness, as determined by the review of their
current credit information; and determines the allowance for doubtful accounts based on historical write-off experience, customer
specific facts and general economic conditions that may affect a clients ability to pay. Bad debt expense is included in
general and administrative expenses, if any. Pursuant to FASB ASC Paragraph 310-10-35-41, credit losses for trade
receivables (uncollectible trade receivables), which may be for all or part of a particular trade receivable, shall be deducted
from the allowance. The related trade receivable balance shall be charged off in the period in which the trade receivables are
deemed uncollectible. Recoveries of trade receivables previously charged off shall be recorded when received. The Company charges
off its trade account receivables against the allowance after all means of collection have been exhausted and the potential for
recovery is considered remote. The Company had no bad debt expense for the reporting period ended
July 31, 2016 or 2015. |
| Property and Equipment | Property and equipment are recorded at cost. Expenditures for major
additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation
is computed by the straight-line method (after taking into account their respective estimated residual values) over the estimated
useful lives of the respective assets as follows:
Estimated Useful Life (Years)
Computer equipment 3 Upon sale or retirement of property and equipment, the related cost
and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the consolidated statements of
operations. |
| Intangible Assets Other Than Goodwill | The Company has adopted Subtopic 350-30 of the FASB Accounting Standards
Codification for intangible assets other than goodwill. Under the requirements, the Company amortizes the acquisition
costs of intangible assets other than goodwill on a straight-line basis over the estimated useful lives of the respective assets
as follows: Patent portfolios that have finite useful lives, are amortized on
the straight-line method over their useful lives ranging from 7 to 16 years. Costs incurred to acquire these
patents, including legal costs, are also capitalized as long-lived assets and amortized on a straight-line basis with the
associated patent. Upon becoming fully amortized, the related cost and accumulated
amortization are removed from the accounts. Intangible assets that have indefinite useful lives are not amortized
but are tested at least annually for impairment. |
| Related Parties | The Company follows subtopic 850-10 of the FASB Accounting Standards
Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the Related parties include (a.) affiliates
of the Company (Affiliate means, with respect to any specified Person, any other Person that, directly or indirectly
through one or more intermediaries, controls, is controlled by or is under common control with such Person, as such terms are used
in and construed under Rule 405 under the Securities Act); (b). Entities for which investments in their equity securities
would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 8251015,
to be accounted for by the equity method by the investing entity; (c.) trusts for the benefit of employees, such as pension
and profit-sharing trusts that are managed by or under the trusteeship of management; (d.) principal owners of the Company and
members of their immediate families; (e.) management of the Company and members of their immediate families; (f.) other
parties with which the Company may deal if one party controls or can significantly influence the management or operating policies
of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests;
and (g.) Other parties that can significantly influence the management or operating policies of the transacting parties or
that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one
or more of the transacting parties might be prevented from fully pursuing its own separate interests. Pursuant to ASC Paragraphs 850-10-50-1 and 50-5 financial statements
shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and
other similar items in the ordinary course of business. The disclosures shall include: a. the nature of the relationship(s)
involved; b. a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for
each of the periods for which income statements are presented, and such other information deemed necessary to an understanding
of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods
for which income statements are presented and the effects of any change in the method of establishing the terms from that used
in the preceding period; and d. amount due from or to related parties as of the date of each balance sheet presented and, if not
otherwise apparent, the terms and manner of settlement. Transactions involving related parties cannot be presumed to be carried
out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about
transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent
to those that prevail in arm's-length transactions unless such representations can be substantiated. |
| Debt with Conversion and Other Options | The Company follows the guidance of ASC Subtopic 470-20 (Subtopic
470-20) for debt with conversion and other options. Pursuant to ASC Paragraph 470-20-25-1 the guidance in this Section
shall be considered after consideration of the guidance in the Fair Value Options Subsections of Subtopic 825-10 and the guidance
in Subtopic 815-15 on bifurcation of embedded derivatives, as applicable. Pursuant to ASC Paragraph 470-20-25-2 proceeds from the sale of
a debt Pursuant to ASC Paragraphs 470-20-25-5 and 25-6 an embedded beneficial
conversion feature present in a convertible instrument shall be recognized separately at issuance by allocating a portion of the
proceeds equal to the intrinsic value of that feature to additional paid-in capital. A contingent beneficial conversion feature
shall be measured using the commitment date stock price but, shall not be recognized in earnings until the contingency is resolved. Pursuant to ASC Paragraphs 470-20-30-5, 30-8 and 30-13 the Company
(a) first, allocates the proceeds received in a financing transaction that includes a convertible instrument to the convertible
instrument and any other detachable instruments, such as detachable warrants, on a relative fair value basis; (b) then, calculates
an effective conversion price and uses that effective conversion price to measure the intrinsic value, if any, of the embedded
conversion option. If the intrinsic value of the beneficial conversion feature is greater than the proceeds allocated
to the convertible instrument, the amount of the discount assigned to the beneficial conversion feature is limited to the amount
of the proceeds allocated to the convertible instrument. Issuance costs incurred with parties other than the investor
shall not be offset against the proceeds received in the issuance in calculating the intrinsic value of a conversion option; however,
any amounts paid to the investor when the transaction is consummated represent a reduction in the proceeds received by the issuer
(not issuance costs) and shall affect the calculation of the intrinsic value of an embedded option. Pursuant to ASC Paragraphs 835-30-45-1A and 45-3 the discount, premium,
or debt issuance costs shall be reported in the balance sheet as a direct deduction from or addition to the face amount of the
note as it is not an asset or liability separable from the note that gives rise to it. The discount, premium, or debt issuance
costs shall not be classified as a deferred charge or deferred credit. |
| Derivative Instruments | In accordance with ASC Paragraph 815-15-25-1 the conversion feature
and certain other features are considered embedded derivative instruments, such as a conversion reset provision, a penalty provision
and redemption option, which are to be recorded at their fair value as its fair value can be separated from the convertible note
and its conversion is independent of the underlying note value. The Company records the resulting discount on debt related to the
conversion features at initial transaction and amortizes the discount using the effective interest rate method over the life of
the debt instruments. The conversion liability is then marked to market each reporting period with the resulting gains or losses
shown in the statements of operations. In circumstances where the embedded conversion option in a convertible
instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument
that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The Company follows ASC Section 815-40-15 of the FASB Accounting
Standards Codification (Section 815-40-15) to determine whether an instrument (or an embedded feature) is indexed
to the Companys own stock. Section 815-40-15 provides that an entity should use a two-step approach to evaluate
whether an equity-linked financial instrument (or embedded feature) is indexed to its own stock, including evaluating the instruments
contingent exercise and settlement provisions. The adoption of Section 815-40-15 has affected the accounting for (i)
certain freestanding warrants that contain exercise price adjustment features and (ii) convertible bonds issued by foreign subsidiaries
with a strike price denominated in a foreign currency. The Company evaluates its convertible debt, options, warrants or
other contracts, if any, to determine if those contracts or embedded components of those contracts qualify as derivatives to be
separately accounted for in accordance with paragraph 810-10-05-4 and Section 815-40-25 of the FASB Accounting Standards Codification. The
result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market each balance sheet date
and recorded as either an asset or a liability. In the event that the fair value is recorded as a liability, the change
in fair value is recorded in the consolidated statement of operations and comprehensive income (loss) as other income or expense. Upon
conversion, exercise or cancellation of a derivative instrument, the instrument is marked to fair value at the date of conversion,
exercise or cancellation and then that the related fair value is reclassified to equity. The Company utilizes the Black-Scholes option-pricing model to compute
the fair value of the embedded conversion feature of convertible notes and warrants as the Company determined the fair value of
the embedded conversion feature and warrants using either the Black-Scholes option-pricing model or a more sophisticated model
to be materially the same. The Black-Scholes option-pricing model includes subjective input assumptions that can materially affect
the fair value estimates. The expected volatility is estimated based on the most recent historical period of time equal to the
remaining contractual term of the instrument granted. |
| Commitment and Contingencies | The Company follows subtopic 450-20 of the FASB Accounting Standards
Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements
are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail
to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In
assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result
in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived
merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable
that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be
accrued in the Companys consolidated financial statements. If the assessment indicates that a potentially material
loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent
liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed
unless they involve guarantees, in which case the guarantees would be disclosed. |
| Revenue Recognition | The Company follows paragraph 605-10-S99-1 of the FASB Accounting
Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and
earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met:
(i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer,
(iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured. Revenue is recognized, for paid-up licenses, as of the date each
license agreement or settlement is signed, or when an enforceable agreement is reached. The Company makes estimates and judgments when determining whether
the collectability of fees receivable from licensees is reasonably assured. The Company assesses the collectability of fees receivable
based on a number of factors, including past transaction history and the credit-worthiness of licensees. If it is determined that
collection is not reasonably assured, the fee is recognized when collectability becomes reasonably assured, assuming all other
revenue recognition criteria have been met, which is generally upon receipt of cash for transactions where collectability may have
been an issue. The Companys estimates regarding collectability impact the actual revenues recognized each period and the
timing of the recognition of revenues. The Companys assumptions and judgments regarding future collectability could differ
from actual events and thus materially impact our financial position and results of operations. The Company generally receives a one-time, lump sum payment, in
exchange for granting a non-exclusive license. At the time of payment, there are typically no further obligations for the Company
or any licensee. Revenues from patent enforcement activities accounted for 100% of
revenues since the Companys inception. There is no guarantee that the Company will be successful with future patent enforcement
activities which may have an adverse material effect on the financial results of the Company. Currently, the Company has no recurring
revenue from customers. |
| Cost of Revenue | Costs of revenue include the costs and expenses incurred in connection
with the Companys patent licensing and enforcement activities, including inventor royalties paid to original patent owners,
contingent legal fees and other patent related legal expenses paid to external patent counsel, licensing and enforcement related
research, consulting and other expenses paid to third parties. These expenses are included in the consolidated statements of operations
in the period that the related revenues are recognized. The Company pays approximately 25% to 40% of gross recoveries from
litigation settlements to its legal counsel. These fees are based upon a gradual scale as negotiated between the Company and its
legal counsel. Settlement revenue fees and compensation include the costs and expenses
incurred in connection with the Companys patent licensing and enforcement activities for services provided pursuant to the
employment agreement of the Companys CEO, President and General Counsel. The Company pays approximately 25% of gross recoveries
from litigation settlements. These expenses are included in the consolidated statements of operations in the period that the
related revenues are recognized. |
| Stock-Based Compensation for Obtaining Employee Services | The Company accounts for share-based payment transactions issued
to employees under the guidance of the Topic 718 CompensationStock Compensation of the FASB Accounting Standards Codification
(ASC Topic 718). Pursuant to ASC Section 718-10-20 an employee is an individual over
whom the grantor of a share-based compensation award exercises or has the right to exercise sufficient control to establish an
employer-employee relationship based on common law as illustrated in case law and currently under U.S. Internal Revenue Service
(IRS) Revenue Ruling 87-41. A non-employee director does not satisfy this definition of employee. Nevertheless, non-employee
directors acting in their role as members of a board of directors are treated as employees if those directors were elected by the
employers shareholders or appointed to a board position that will be filled by shareholder election when the existing term
expires. However, that requirement applies only to awards granted to non-employee directors for their services as directors. Awards
granted to non-employee directors for other services shall be accounted for as awards to non-employees. Pursuant to ASC Paragraphs 718-10-30-2 and 718-10-30-3 a share-based
payment transaction with employees shall be measured based on the fair value of the equity instruments issued and an entity shall
account for the compensation cost from share-based payment transactions with employees in accordance with the fair value-based
method, i.e., the cost of services received from employees in exchange for awards of share-based compensation generally shall be
measured based on the grant-date fair value of the equity instruments issued or the fair value of the liabilities incurred/settled. Pursuant to ASC Paragraphs 718-10-30-6 and 718-10-30-9 the measurement
objective for equity instruments awarded to employees is to estimate the fair value at the grant date of the equity instruments
that the entity is obligated to issue when employees have rendered the requisite service and satisfied any other conditions necessary
to earn the right to benefit from the instruments (for example, to exercise share options). That estimate is based on the share
price and other pertinent factors, such as expected volatility, at the grant date. As such, the fair value of an equity share option
or similar instrument shall be estimated using a valuation technique such as an option pricing model. For this purpose, a similar
instrument is one whose fair value differs from its intrinsic value, that is, an instrument that has time value. If the Companys common shares are traded in one of the national
exchanges the grant-date share price of the Companys common stock will be used to measure the fair value of the common shares
issued, however, if the Companys common shares are thinly traded the use of share prices established in its most recent
private placement memorandum (PPM), or weekly or monthly price observations would generally be more appropriate than
the use of daily price observations as such shares could be artificially inflated due to a larger spread between the bid and asked
quotes and lack of consistent trading in the market. Pursuant to ASC Paragraph 718-10-55-21 if an
observable market price is not available for a share option or similar instrument with the same or similar terms and conditions,
an entity shall estimate the fair value of that instrument using a valuation technique or model that meets the requirements in
paragraph 718-10-55-11 and takes into account, at a minimum, all of the following factors:
a.
The exercise price of the option.
b.
The expected term of the option, taking into account both the contractual
term of the option and the effects of employees expected exercise and post-vesting employment termination behavior: The
expected life of options and similar instruments represents the period of time the option and/or warrant are expected to be outstanding.
Pursuant to paragraph 718-10-S99-1, it may be appropriate to use the simplified method i.e., expected term = ((vesting
term + original contractual term) / 2)
c.
The current price of the underlying share.
d.
The expected volatility of the price of the underlying share for
the expected term of the option. Pursuant to ASC Paragraph 718-10-55-25 a newly publicly traded entity might base expectations
about future volatility on the average volatilities of similar entities for an appropriate period following their going public.
A nonpublic entity might base its expected volatility on the average volatilities of otherwise similar public entities. For purposes
of identifying otherwise similar entities, an entity would likely consider characteristics such as industry, stage of life cycle,
size, and financial leverage. Because of the effects of diversification that are present in an industry sector index, the volatility
of an index should not be substituted for the average of volatilities of otherwise similar entities in a fair value measurement.
Pursuant to paragraph 718-10-S99-1 if shares of a company are thinly traded the use of weekly or monthly price observations would
generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for
such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading
in the market. The Company uses the average historical volatility of the comparable companies over the expected term of the share
options or similar instruments as its expected volatility.
e. The expected dividends on the underlying share for the expected term of the option. The expected dividend yield is based on the Companys current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments.
f. The risk-free interest rate(s) for the expected term of the option. Pursuant to ASC 718-10-55-28 a U.S. entity issuing an option on its own shares must use as the risk-free interest rates the implied yields currently available from the U.S. Treasury zero-coupon yield curve over the contractual term of the option if the entity is using a lattice model incorporating the options contractual term. If the entity is using a closed-form model, the risk-free interest rate is the implied yield currently available on U.S. Treasury zero-coupon issues with a remaining term equal to the expected term used as the assumption in the model. Pursuant to ASC Paragraphs 718-10-30-11 and 718-10-30-17 a restriction
that stems from the forfeit-ability of instruments to which employees have not yet earned the right, such as the inability either
to exercise a non-vested equity share option or to sell non-vested shares, is not reflected in estimating the fair value of the
related instruments at the grant date. Instead, those restrictions are taken into account by recognizing compensation cost only
for awards for which employees render the requisite service and a non-vested equity share or non-vested equity share unit awarded
to an employee shall be measured at its fair value as if it were vested and issued on the grant date. Pursuant to ASC Paragraphs 718-10-35-2 and 718-10-35-3 the compensation
cost for an award of share-based employee compensation classified as equity shall be recognized over the requisite service period,
with a corresponding credit to equity (generally, paid-in capital). The requisite service period is the period during which an
employee is required to provide service in exchange for an award, which often is the vesting period. The total amount
of compensation cost recognized at the end of the requisite service period for an award of share-based compensation shall be based
on the number of instruments for which the requisite service has been rendered (that is, for which the requisite service period
has been completed). An entity shall base initial accruals of compensation cost on the estimated number of instruments for which
the requisite service is expected to be rendered. That estimate shall be revised if subsequent information indicates that the actual
number of instruments is likely to differ from previous estimates. The cumulative effect on current and prior periods of a change
in the estimated number of instruments for which the requisite service is expected to be or has been rendered shall be recognized
in compensation cost in the period of the change. Previously recognized compensation cost shall not be reversed if an employee
share option (or share unit) for which the requisite service has been rendered expires unexercised (or unconverted). Under the requirement of ASC Paragraph 718-10-35-8 the Company made
a policy decision to recognize compensation cost for an award with only service conditions that has a graded vesting schedule on
a straight-line basis over the requisite service period for the entire award. |
| Equity Instruments Issued to Parties Other Than Employees for Acquiring Goods or Services | The Company accounts for equity instruments issued to parties other
than employees for acquiring goods or services under the guidance of Sub-topic 505-50 of the FASB Accounting Standards Codification
(Sub-topic 505-50). Pursuant to ASC paragraphs 505-50-25-6 and 505-50-25-7, a grantor
shall recognize the goods acquired or services received in a share-based payment transaction when it obtains the goods or as services
are received. A grantor may need to recognize an asset before it actually receives goods or services if it first exchanges share-based
payment for an enforceable right to receive those goods or services. Nevertheless, the goods or services themselves are not recognized
before they are received. If fully vested, nonforfeitable equity instruments are issued at the date the grantor and grantee enter
into an agreement for goods or services (no specific performance is required by the grantee to retain those equity instruments),
then, because of the elimination of any obligation on the part of the counterparty to earn the equity instruments, a measurement
date has been reached. A grantor shall recognize the equity instruments when they are issued (in most cases, when the agreement
is entered into). Pursuant to ASC paragraph 505-50-45-1, a grantor may conclude that an asset (other than a note or a receivable)
has been received in return for fully vested, nonforfeitable equity instruments that are issued at the date the grantor and grantee
enter into an agreement for goods or services (and no specific performance is required by the grantee in order to retain those
equity instruments). Such an asset shall not be displayed as contra-equity by the grantor of the equity instruments. The transferability
(or lack thereof) of the equity instruments shall not affect the balance sheet display of the asset. This guidance is limited to
transactions in which equity instruments are transferred to other than employees in exchange for goods or services. Pursuant to Paragraphs 505-50-25-8 and 505-50-25-9, an entity may
grant fully vested, non-forfeitable equity instruments that are exercisable by the grantee only after a specified period of time
if the terms of the agreement provide for earlier exercisability if the grantee achieves specified performance conditions. Any
measured cost of the transaction shall be recognized in the same period(s) and in the same manner as if the entity had paid cash
for the goods or services or used cash rebates as a sales discount instead of paying with, or using, the equity instruments. A
recognized asset, expense, or sales discount shall not be reversed if a stock option that the counterparty has the right to exercise
expires unexercised. Pursuant to ASC Paragraphs 505-50-30-2 and 505-50-30-11 share-based
payment transactions with nonemployees shall be measured at the fair value of the consideration received or the fair value of the
equity instruments issued, whichever is more reliably measurable. The issuer shall measure the fair value of the equity
instruments in these transactions using the stock price and other measurement assumptions as of the earlier of the following dates,
referred to as the measurement date: (a) The date at which a commitment for performance by the counterparty to earn the equity
instruments is reached (a performance commitment); or (b) The date at which the counterparty's performance is complete. If the
Companys common shares are traded in one of the national exchanges the grant-date share price of the Companys common
stock will be used to measure the fair value of the common shares issued, however, if the Companys common shares are thinly
traded the use of share prices established in the Companys most recent private placement memorandum (PPM),
or weekly or monthly price observations would generally be more appropriate than the use of daily price observations as such shares
could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. Pursuant to ASC Paragraph 718-10-55-21 if an observable market price
is not available for a share option or similar instrument with the same or similar terms and conditions, an entity shall estimate
the fair value of that instrument using a valuation technique or model that meets the requirements in paragraph 718-10-55-11 and
takes into account, at a minimum, all of the following factors:
a.
The exercise price of the instrument.
b.
The expected term of the instrument, taking into account both the
contractual term of the option and the effects of employees expected exercise and post-vesting employment termination behavior:
Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and
similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into
consideration of the contractual term of the instruments and holders expected exercise behavior into the fair value (or
calculated value) of the instruments. The Company uses historical data to estimate holders expected exercise
behavior. If the Company is a newly formed corporation or shares of the Company are thinly traded the contractual term
of the share options and similar instruments is used as the expected term of share options and similar instruments as the Company
does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.
c.
The current price of the underlying share.
d.
The expected volatility of the price of the underlying share for
the expected term of the option. Pursuant to ASC Paragraph 718-10-55-25 a newly publicly traded entity might base expectations
about future volatility on the average volatilities of similar entities for an appropriate period following their going public.
A nonpublic entity might base its expected volatility on the average volatilities of otherwise similar public entities. For purposes
of identifying otherwise similar entities, an entity would likely consider characteristics such as industry, stage of life cycle,
size, and financial leverage. Because of the effects of diversification that are present in an industry sector index, the volatility
of an index should not be substituted for the average of volatilities of otherwise similar entities in a fair value measurement. Pursuant
to paragraph 718-10-S99-1 if shares of a company are thinly traded the use of weekly or monthly price observations would generally
be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares
could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market. The
Company uses the average historical volatility of the comparable companies over the expected term of the share options or similar
instruments as its expected volatility.
e.
The expected dividends on the underlying share for the expected
term of the option. The expected dividend yield is based on the Companys current dividend yield as the best estimate
of projected dividend yield for periods within the expected term of the share options and similar instruments.
f. The risk-free interest rate(s) for the expected term of the option. Pursuant to ASC 718-10-55-28 a U.S. entity issuing an option on its own shares must use as the risk-free interest rates the implied yields currently available from the U.S. Treasury zero-coupon yield curve over the contractual term of the option if the entity is using a lattice model incorporating the options contractual term. If the entity is using a closed-form model, the risk-free interest rate is the implied yield currently available on U.S. Treasury zero-coupon issues with a remaining term equal to the expected term used as the assumption in the model. Pursuant to ASC paragraph 505-50-S99-1, if the Company receives
a right to receive future services in exchange for unvested, forfeitable equity instruments, those equity instruments are treated
as unissued for accounting purposes until the future services are received (that is, the instruments are not considered issued
until they vest). Consequently, there would be no recognition at the measurement date and no entry should be recorded. |
| Deferred Tax Assets and Income Tax Provision | The Company accounts for income taxes under Section 740-10-30 of
the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected
future tax consequences of events that have been included in the financial statements or tax returns. Under this method,
deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities
using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax
assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will
not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable
income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect
on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income and Comprehensive Income
in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards
Codification (Section 740-10-25) with regards to uncertainty income taxes. Section 740-10-25 addresses
the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial
statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if
it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical
merits of the position. The tax benefits recognized in the financial statements from such a position should be measured
based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement.
Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting
in interim periods and requires increased disclosures. The estimated future tax effects of temporary differences between
the tax basis of assets and liabilities are reported in the accompanying consolidated balance sheets, as well as tax credit carry-backs
and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its consolidated balance
sheets and provides valuation allowances as management deems necessary. Management makes judgments as to the interpretation of the tax laws
that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates
within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In managements opinion, adequate provisions
for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances
or reversals of reserves may be necessary. |
| Earnings per Share | Earnings Per Share ("EPS") is the amount of earnings attributable
to each share of common stock. For convenience, the term is used to refer to either earnings or loss per share. EPS
is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Pursuant to ASC Paragraphs
260-10-45-10 through 260-10-45-16 Basic EPS shall be computed by dividing income available to common stockholders (the numerator)
by the weighted-average number of common shares outstanding (the denominator) during the period. Income available to
common stockholders shall be computed by deducting both the dividends declared in the period on preferred stock (whether or not
paid) and the dividends accumulated for the period on cumulative preferred stock (whether or not earned) from net income (loss). The
computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number
of additional common shares that would have been outstanding if the dilutive potential common shares had been issued during the
period to reflect the potential dilution that could occur from common shares issuable through contingent shares issuance arrangement,
stock options or warrants. Pursuant to ASC Paragraphs 260-10-45-45-21 through 260-10-45-45-23
Diluted EPS shall be based on the most advantageous conversion rate or exercise price from the standpoint of the security holder. The
dilutive effect of outstanding call options and warrants (and their equivalents) issued by the reporting entity shall be reflected
in diluted EPS by application of the treasury stock method. Equivalents of options and warrants include non-vested stock granted
to employees, stock purchase contracts, and partially paid stock subscriptions. Under the treasury stock method: a. Exercise
of options and warrants shall be assumed at the beginning of the period (or at time of issuance, if later) and common shares shall
be assumed to be issued. b. The proceeds from exercise shall be assumed to be used to purchase common stock at the average
market price during the period. c. The incremental shares (the difference between the number of shares assumed issued and
the number of shares assumed purchased) shall be included in the denominator of the diluted EPS computation. Pursuant to ASC Paragraphs
260-10-45-40 through 45-42 convertible securities shall be reflected in diluted EPS by application of the if-converted method. The
convertible preferred stock or convertible debt shall be assumed to have been converted at the beginning of the period (or at time
of issuance, if later). In applying the if-converted method, conversion shall not be assumed for purposes of computing diluted
EPS if the effect would be anti-dilutive. The Companys contingent shares issuance arrangements, stock
options or warrants are as follows:
July 31, 2016
July 31, 2015
Stock options, exercise price ($0.75) - 10,000
Warrants 5,248,619 55,800
Convertible notes payable 1,554,945,844 443,565,286
1,560,194,463 443,631,086 There were 1,560,194,437 and 443,631,086 potentially outstanding
dilutive common shares for the three and nine months ended July 31, 2016 and 2015, respectively, which were excluded from the diluted
earnings per share calculation as they were anti-dilutive. |
| Foreign Currency Translation | The Company follows Section 830-10-45 of the FASB Accounting Standards
Codification (Section 830-10-45) for foreign currency translation to translate the financial statements of the foreign
subsidiary from the functional currency, generally the local currency, into U.S. Dollars. Section 830-10-45 sets out
the guidance relating to how a reporting entity determines the functional currency of a foreign entity (including of a foreign
entity in a highly inflationary economy), re-measures the books of record (if necessary), and characterizes transaction gains and
losses. Pursuant to Section 830-10-45, the assets, liabilities, and operations of a foreign entity shall be measured using the
functional currency of that entity. An entitys functional currency is the currency of the primary economic environment in
which the entity operates; normally, that is the currency of the environment, or local currency, in which an entity primarily generates
and expends cash. The functional currency of each foreign subsidiary is determined
based on managements judgment and involves consideration of all relevant economic facts and circumstances affecting the
subsidiary. Generally, the currency in which the subsidiary transacts a majority of its transactions, including billings, financing,
payroll and other expenditures, would be considered the functional currency, but any dependency upon the parent and the nature
of the subsidiarys operations must also be considered. If a subsidiarys functional currency is deemed
to be the local currency, then any gain or loss associated with the translation of that subsidiarys financial statements
is included in accumulated other comprehensive income. However, if the functional currency is deemed to be the U.S. Dollar,
then any gain or loss associated with the re-measurement of these financial statements from the local currency to the functional
currency would be included in the consolidated statements of income and comprehensive income (loss). If the Company disposes of
foreign subsidiaries, then any cumulative translation gains or losses would be recorded into the consolidated statements of income
and comprehensive income (loss). If the Company determines that there has been a change in the functional currency of
a subsidiary to the U.S. Dollar, any translation gains or losses arising after the date of change would be included within
the statement of income and comprehensive income (loss). Based on an assessment of the factors discussed above, the management
of the Company determined the relevant subsidiaries local currencies to be their respective functional currencies. The financial records of the Company's discontinued subsidiaries
are maintained in their local currency, which is the functional currency. Assets and liabilities are translated from
the local currency into the reporting currency, U.S. dollars, at the exchange rate prevailing at the balance sheet date. Revenues
and expenses are translated at weighted average exchange rates for the period to approximate translation at the exchange rates
prevailing at the dates those elements are recognized in the consolidated financial statements. Foreign currency translation
gain (loss) resulting from the process of translating the local currency financial statements into U.S. dollars are included in
determining accumulated other comprehensive income in the consolidated statement of stockholders equity. |
| Cash Flows Reporting | The Company adopted paragraph 230-10-45-24 of the FASB Accounting
Standards Codification for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating,
investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (Indirect
method) as defined by paragraph 230-10-45-25 of the FASB Accounting Standards Codification to report net cash flow from
operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects
of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and
payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The
Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of
the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the
reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing
and financing activities not resulting in cash receipts or payments in the period pursuant to paragraph 830-230-45-1 of the FASB
Accounting Standards Codification. |
| Subsequent Events | The Company follows the guidance in Section 855-10-50 of the FASB
Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through
the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification,
the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through
filing them on EDGAR. |
| Recently Adopted Accounting Guidance | In April 2015, the FASB issued Accounting Standards Update No. 2015-03,
Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, or ASU 2015-03. ASU 2015-03
amends current presentation guidance by requiring that debt issuance costs related to a recognized debt liability be presented
in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior
to the issuance of ASU 2015-03, debt issuance costs were required to be presented as an asset in the balance sheet. We adopted
the provisions of ASU 2015-03 on April 30, 2016 and prior period amounts have been reclassified to conform to the current period
presentation. As of October 31, 2015, $1,018 of debt issuance costs were reclassified in the consolidated balance sheet from current
assets to convertible notes payable. The adoption of ASU 2015-03 did not impact our consolidated financial position, results of
operations or cash flows. |
| Recently Issued Accounting Pronouncements | In February 2016, the Financial Accounting Standards Board ("FASB")
issued Accounting Standards Update ("ASU") No. 2016-02, Leases (topic 842). The FASB issued this update
to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance
sheet and disclosing key information about leasing arrangements. The updated guidance is effective for annual periods beginning
after December 15, 2018, including interim periods within those fiscal years. Early adoption of the update is permitted. The Company
is currently evaluating the impact of the new standard. In March 2016, the FASB issued ASU No. 2016-06, Derivatives
and Hedging (topic 815). The FASB issued this update to clarify the requirements for assessing whether contingent call (put)
options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An
entity performing the assessment under the amendments in this update is required to assess the embedded call (put) options solely
in accordance with the four-step decision sequence. The updated guidance is effective for annual periods beginning after December
15, 2016, including interim periods within those fiscal years. Early adoption of the update is permitted. The Company is currently
evaluating the impact of the new standard. In April 2016, the FASB issued ASU No. 2016-09, Compensation
Stock Compensation (topic 718). The FASB issued this update to improve the accounting for employee share-based payments
and affect all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based
payment award transactions are simplified, including: (a) income tax consequences; (b) classification of awards as either equity
or liabilities; and (c) classification on the statement of cash flows. The updated guidance is effective for annual periods beginning
after December 15, 2016, including interim periods within those fiscal years. Early adoption of the update is permitted. The Company
is currently evaluating the impact of the new standard. In April 2016, the FASB issued ASU No. 2016-10, Revenue from
Contracts with Customers: Identifying Performance Obligations and Licensing (topic 606). In March 2016, the FASB issued
ASU No. 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross verses
Net) (topic 606). These amendments provide additional clarification and implementation guidance on the previously issued
ASU 2014-09, Revenue from Contracts with Customers. The amendments in ASU 2016-10 provide clarifying guidance on
materiality of performance obligations; evaluating distinct performance obligations; treatment of shipping and handling costs;
and determining whether an entity's promise to grant a license provides a customer with either a right to use an entity's intellectual
property or a right to access an entity's intellectual property. The amendments in ASU 2016-08 clarify how an entity should identify
the specified good or service for the principal versus agent evaluation and how it should apply the control principle to certain
types of arrangements. The adoption of ASU 2016-10 and ASU 2016-08 is to coincide with an entity's adoption of ASU 2014-09, which
we intend to adopt for interim and annual reporting periods beginning after December 15, 2017. The Company is currently evaluating
the impact of the new standard. There were no other new accounting pronouncements that were issued
or became effective since the issuance of our 2015 Annual Report on Form 10-K that had, or are expected to have, a material impact
on our condensed consolidated financial position, results of operations or cash flows. |
