Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Oct. 31, 2013 | Feb. 10, 2014 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'MICRO IMAGING TECHNOLOGY, INC. | ' |
Entity Central Index Key | '0000808015 | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Oct-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--10-31 | ' |
Entity a Well-known Seasoned Issuer | 'No | ' |
Entity a Voluntary Filer | 'No | ' |
Entity's Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Public Float | ' | $494,050 |
Entity Common Stock, Shares Outstanding | ' | 5,313,027 |
Document Fiscal Period Focus | 'FY | ' |
Document Fiscal Year Focus | '2013 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
Current assets: | ' | ' |
Cash | $5,007 | $90,132 |
Related party receivables | ' | 15,269 |
Inventories | 67,487 | 25,600 |
Prepaid expenses | 897 | 31,120 |
Total current assets | 73,391 | 162,121 |
Fixed assets, net | 111,570 | 123,041 |
Total assets | 184,961 | 285,162 |
Current liabilities: | ' | ' |
Notes payable to stockholder, net of unamortized discount of $844 and $5,536 in 2013 and 2012, respectively | 200,606 | 136,464 |
Convertible notes payable, net of unamortized discount of $60,050 and $3,202 in 2013 and 2012, respectively | 89,818 | 74,166 |
Accounts payable - trade | 336,372 | 171,578 |
Accounts payable to officers and directors | 131,472 | 45,583 |
Accrued payroll | 244,031 | 139,040 |
Derivative liability | 75,557 | ' |
Anti-dilution liability | 23,358 | 65,401 |
Other accrued expenses | 81,016 | 58,555 |
Total current liabilities | 1,182,230 | 690,787 |
Long term liabilities: | ' | ' |
Note payable to stockholder, net of unamortized discount of $0 and $844 in 2013 and 2012, respectively | ' | 46,106 |
Redeemable convertible preferred stock, $0.01 par value; 5,200 shares authorized, issued and outstanding at October 31, 2013 and October 31, 2012 | 26,000 | 26,000 |
Total long term liabilities | 26,000 | 72,106 |
Total liabilities | 1,208,230 | 762,893 |
Commitments and contingencies | ' | ' |
Stockholders' (deficit): | ' | ' |
Common stock, $0.01 par value; 25,000,000 shares authorized; 5,153,027 and 4,473,715 shares issued and outstanding at October 31, 2013 and October 31, 2012, respectively | 51,531 | 44,737 |
Additional paid-in capital | 45,335,031 | 44,889,013 |
Accumulated deficit from previous operating activities | -27,809,201 | -27,809,201 |
Deficit accumulated during the development stage | -18,600,630 | -17,602,280 |
Total stockholders' (deficit) | -1,023,269 | -477,731 |
Total liabilities and stockholders' (deficit) | $184,961 | $285,162 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Notes payable, unamortized discount, current | $844 | $5,536 |
Convertible notes payable, unamortized discount, current | 60,050 | 3,202 |
Notes payable, unamortized discount, noncurrent | $0 | $844 |
Redeemable convertible preferred stock, par value | $0.01 | $0.01 |
Redeemable convertible preferred stock, shares authorized | 5,200 | 5,200 |
Redeemable convertible preferred stock, shares issued | 5,200 | 5,200 |
Redeemable convertible preferred stock, shares outstanding | 5,200 | 5,200 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 5,153,027 | 4,473,715 |
Common stock, shares outstanding | 5,153,027 | 4,473,715 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | 96 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
Income Statement [Abstract] | ' | ' | ' |
Sales | ' | ' | $58,000 |
Cost of Sales | ' | ' | 29,886 |
Gross profit | ' | ' | 28,114 |
Operating costs and expenses: | ' | ' | ' |
Research and development | 411,015 | 489,044 | 5,842,343 |
Sales, general and administrative | 566,883 | 716,642 | 8,477,963 |
Total operating expenses | 977,898 | 1,205,686 | 14,320,306 |
Loss from operations | -977,898 | -1,205,686 | -14,292,192 |
Other income (expense): | ' | ' | ' |
Interest income | 13 | 92 | 11,464 |
Interest expense | -67,045 | -384,963 | -4,977,635 |
Gain on derivative instruments | 8,753 | 56,747 | 158,057 |
Other income (expense), net | 39,427 | 285,919 | 512,476 |
Total other income (expense), net | -18,852 | -42,205 | -4,295,638 |
Loss from operations: | ' | ' | ' |
Before provision for income tax | -996,750 | -1,247,891 | -18,587,830 |
Provision for income tax | -1,600 | -1,600 | -12,800 |
Net loss | -998,350 | -1,249,491 | -18,600,630 |
Net loss attributable to: | ' | ' | ' |
Non-controlling interest | -131,721 | -92,409 | -1,381,483 |
Micro Imaging Technology, Inc. stockholders | -866,629 | -1,157,082 | -17,219,147 |
Net loss | ($998,350) | ($1,249,491) | ($18,600,630) |
Net loss per share, basic and diluted | ($0.20) | ($0.52) | ' |
Shares used in computing net loss per share, basic and diluted | 4,880,189 | 2,406,315 | ' |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' (Deficit) (USD $) | Series C Convertible Preferred Stock [Member] | Series D Convertible Preferred Stock [Member] | Common Stock [Member] | Class B Common Stock [Member] | Additional Paid-In Capital [Member] | Note Receivable Common Stock [Member] | Accumulated Deficit [Member] | Total |
Balance at Oct. 31, 2005 | $250,000 | $250,000 | $259 | $2 | $25,964,733 | ($36,247) | ($27,809,201) | ($1,380,454) |
Balance (in shares) at Oct. 31, 2005 | 250,000 | 250,000 | 25,932 | 168 | ' | ' | ' | ' |
Common stock issued for convertible debt, $70.00 per share | ' | ' | 6 | ' | 43,215 | ' | ' | 43,221 |
Common stock issued for convertible debt, $70.00 per share (in shares) | ' | ' | 617 | ' | ' | ' | ' | ' |
Common stock and warrants issued in exchange for surrender of common stock in subsidiary, $170.00 per share | ' | ' | 23 | ' | 253,978 | ' | ' | 254,001 |
Common stock and warrants issued in exchange for surrender of common stock in subsidiary, $170.00 per share (in shares) | ' | ' | 2,353 | ' | ' | ' | ' | ' |
Interest expense related to beneficial conversion feature on stock exchanged for subsidiary stock | ' | ' | ' | ' | 1,944,800 | ' | ' | 1,944,800 |
Common stock issued to officers for services, $40.00 per share | ' | ' | 1 | ' | 3,999 | ' | ' | 4,000 |
Common stock issued to officers for services, $40.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $70.00 per share | ' | ' | 1 | ' | 6,999 | ' | ' | 7,000 |
Common stock issued to officers for services, $70.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $90.00 per share | ' | ' | 1 | ' | 8,999 | ' | ' | 9,000 |
Common stock issued to officers for services, $90.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $100.00 per share | ' | ' | 1 | ' | 9,999 | ' | ' | 10,000 |
Common stock issued to officers for services, $100.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $115.00 per share | ' | ' | 1 | ' | 11,499 | ' | ' | 11,500 |
Common stock issued to officers for services, $115.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $125.00 per share | ' | ' | 1 | ' | 12,499 | ' | ' | 12,500 |
Common stock issued to officers for services, $125.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $130.00 per share | ' | ' | 1 | ' | 12,999 | ' | ' | 13,000 |
Common stock issued to officers for services, $130.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $140.00 per share | ' | ' | 1 | ' | 13,999 | ' | ' | 14,000 |
Common stock issued to officers for services, $140.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $170.00 per share | ' | ' | 1 | ' | 25,499 | ' | ' | 25,500 |
Common stock issued to officers for services, $170.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $225.00 per share | ' | ' | 2 | ' | 33,748 | ' | ' | 33,750 |
Common stock issued to officers for services, $225.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $250.00 per share | ' | ' | 2 | ' | 37,498 | ' | ' | 37,500 |
Common stock issued to officers for services, $250.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $255.00 per share | ' | ' | 1 | ' | 25,499 | ' | ' | 25,500 |
Common stock issued to officers for services, $255.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to directors for services, $170.00 per share | ' | ' | 4 | ' | 67,996 | ' | ' | 68,000 |
Common stock issued to directors for services, $170.00 per share (in shares) | ' | ' | 400 | ' | ' | ' | ' | ' |
Common stock issued for services, $70.00 per share | ' | ' | 4 | ' | 27,996 | ' | ' | 28,000 |
Common stock issued for services, $70.00 per share (in shares) | ' | ' | 400 | ' | ' | ' | ' | ' |
Common stock issued for services, $170.00 per share | ' | ' | 4 | ' | 67,996 | ' | ' | 68,000 |
Common stock issued for services, $170.00 per share (in shares) | ' | ' | 400 | ' | ' | ' | ' | ' |
Common stock issued as commission, $250.00 per share | ' | ' | 1 | ' | 2,999 | ' | ' | 3,000 |
Common stock issued as commission, $250.00 per share (in shares) | ' | ' | 12 | ' | ' | ' | ' | ' |
Interest recognized on notes receivable for common stock | ' | ' | ' | ' | ' | -1,373 | ' | -1,373 |
Options and warrants granted to employees and consultants for services | ' | ' | ' | ' | 45,875 | ' | ' | 45,875 |
Net loss | ' | ' | ' | ' | ' | ' | -3,798,713 | -3,798,713 |
Balance at Oct. 31, 2006 | 250,000 | 250,000 | 315 | 2 | 28,622,824 | -37,620 | -31,607,914 | -2,522,393 |
Balance (in shares) at Oct. 31, 2006 | 250,000 | 250,000 | 31,464 | 168 | ' | ' | ' | ' |
Common stock issued to officers for services, $50.00 per share | ' | ' | 2 | ' | 7,498 | ' | ' | 7,500 |
Common stock issued to officers for services, $50.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $80.00 per share | ' | ' | 2 | ' | 11,998 | ' | ' | 12,000 |
Common stock issued to officers for services, $80.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $120.00 per share | ' | ' | 3 | ' | 35,997 | ' | ' | 36,000 |
Common stock issued to officers for services, $120.00 per share (in shares) | ' | ' | 300 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $125.00 per share | ' | ' | 4 | ' | 56,246 | ' | ' | 56,250 |
Common stock issued to officers for services, $125.00 per share (in shares) | ' | ' | 450 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $150.00 per share | ' | ' | 2 | ' | 22,498 | ' | ' | 22,500 |
Common stock issued to officers for services, $150.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $160.00 per share | ' | ' | 2 | ' | 23,998 | ' | ' | 24,000 |
Common stock issued to officers for services, $160.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $175.00 per share | ' | ' | 2 | ' | 26,248 | ' | ' | 26,250 |
Common stock issued to officers for services, $175.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $200.00 per share | ' | ' | 3 | ' | 59,997 | ' | ' | 60,000 |
Common stock issued to officers for services, $200.00 per share (in shares) | ' | ' | 300 | ' | ' | ' | ' | ' |
Common stock issued to officers and directors for consulting services, $185.00 per share | ' | ' | 40 | ' | 739,960 | ' | ' | 740,000 |
Common stock issued to officers and directors for consulting services, $185.00 per share (in shares) | ' | ' | 4,000 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $60.00 per share | ' | ' | 42 | ' | 239,569 | ' | ' | 239,611 |
Common stock issued in private placement offering, $60.00 per share (in shares) | ' | ' | 4,228 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $250.00 per share | ' | ' | 55 | ' | 1,329,945 | ' | ' | 1,330,000 |
Common stock issued in private placement offering, $250.00 per share (in shares) | ' | ' | 5,520 | ' | ' | ' | ' | ' |
Common stock issued as commission, $60.00 per share | ' | ' | 1 | ' | 3,682 | ' | ' | 3,683 |
Common stock issued as commission, $60.00 per share (in shares) | ' | ' | 61 | ' | ' | ' | ' | ' |
Common stock issued for debt, $100.00 per share | ' | ' | 4 | ' | 42,219 | 37,620 | ' | 79,843 |
Common stock issued for debt, $100.00 per share (in shares) | ' | ' | 422 | ' | ' | ' | ' | ' |
Common stock issued for convertible debt, $125.00 per share | ' | ' | 126 | ' | 1,574,718 | ' | ' | 1,574,844 |
Common stock issued for convertible debt, $125.00 per share (in shares) | ' | ' | 12,599 | ' | ' | ' | ' | ' |
Common stock issued to former licensee for debt, $40.00 per share | ' | ' | 10 | ' | 41,309 | ' | ' | 41,319 |
Common stock issued to former licensee for debt, $40.00 per share (in shares) | ' | ' | 1,033 | ' | ' | ' | ' | ' |
Common stock issued upon conversion of Series C Preferred stock | -250,000 | ' | 20 | ' | 249,980 | ' | ' | ' |
Common stock issued upon conversion of Series C Preferred stock (in shares) | -250,000 | ' | 2,000 | ' | ' | ' | ' | ' |
Common stock issued upon conversion of Series D Preferred stock | ' | -250,000 | 10 | ' | 249,990 | ' | ' | ' |
Common stock issued upon conversion of Series D Preferred stock (in shares) | ' | -250,000 | 100 | ' | ' | ' | ' | ' |
Common stock issued or surrendered for uncollectible debt, $150.00 per share | ' | ' | 1 | ' | 20,477 | ' | ' | 20,478 |
Common stock issued or surrendered for uncollectible debt, $150.00 per share (in shares) | ' | ' | 137 | ' | ' | ' | ' | ' |
Common stock of subsidiary issued to employees and consultants, $0.001 per share | ' | ' | ' | ' | 2,665 | ' | ' | 2,665 |
Options and warrants granted to employees and consultants for services | ' | ' | ' | ' | 93,035 | ' | ' | 93,035 |
Net loss | ' | ' | ' | ' | ' | ' | -2,040,137 | -2,040,137 |
Balance at Oct. 31, 2007 | ' | ' | 646 | ' | 33,454,853 | ' | -33,648,051 | -192,552 |
Balance (in shares) at Oct. 31, 2007 | ' | ' | 64,432 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $175.00 per share | ' | ' | 2 | ' | 26,248 | ' | ' | 26,250 |
Common stock issued to officers for services, $175.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $150.00 per share | ' | ' | 2 | ' | 22,498 | ' | ' | 22,500 |
Common stock issued to officers for services, $150.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $135.00 per share | ' | ' | 2 | ' | 20,248 | ' | ' | 20,250 |
Common stock issued to officers for services, $135.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $125.00 per share | ' | ' | 5 | ' | 56,245 | ' | ' | 56,250 |
Common stock issued to officers for services, $125.00 per share (in shares) | ' | ' | 450 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $115.00 per share | ' | ' | 2 | ' | 17,248 | ' | ' | 17,250 |
Common stock issued to officers for services, $115.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $100.00 per share | ' | ' | 2 | ' | 14,998 | ' | ' | 15,000 |
Common stock issued to officers for services, $100.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $90.00 per share | ' | ' | 1 | ' | 13,499 | ' | ' | 13,500 |
Common stock issued to officers for services, $90.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $75.00 per share | ' | ' | 1 | ' | 11,249 | ' | ' | 11,250 |
Common stock issued to officers for services, $75.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $70.00 per share | ' | ' | 1 | ' | 10,499 | ' | ' | 10,500 |
Common stock issued to officers for services, $70.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers for services, $17.50 per share | ' | ' | 1 | ' | 2,624 | ' | ' | 2,625 |
Common stock issued to officers for services, $17.50 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for debt, $150.00 per share | ' | ' | 11 | ' | 175,331 | ' | ' | 175,342 |
Common stock issued to officers, directors and consultants for debt, $150.00 per share (in shares) | ' | ' | 1,169 | ' | ' | ' | ' | ' |
Common stock issued to consultants for services, $140.00 per share | ' | ' | 20 | ' | 279,980 | ' | ' | 280,000 |
Common stock issued to consultants for services, $140.00 per share (in shares) | ' | ' | 2,000 | ' | ' | ' | ' | ' |
Common stock issued to consultants for services, $125.00 per share | ' | ' | 5 | ' | 68,745 | ' | ' | 68,750 |
Common stock issued to consultants for services, $125.00 per share (in shares) | ' | ' | 550 | ' | ' | ' | ' | ' |
Common stock issued to consultants for services, $40.00 per share | ' | ' | 5 | ' | 19,995 | ' | ' | 20,000 |
Common stock issued to consultants for services, $40.00 per share (in shares) | ' | ' | 500 | ' | ' | ' | ' | ' |
Common stock issued to officers and directors for consulting services, $135.00 per share | ' | ' | 20 | ' | 269,980 | ' | ' | 270,000 |
Common stock issued to officers and directors for consulting services, $135.00 per share (in shares) | ' | ' | 2,000 | ' | ' | ' | ' | ' |
Common stock issued to officers and directors for consulting services, $25.00 per share | ' | ' | 40 | ' | 99,960 | ' | ' | 100,000 |
Common stock issued to officers and directors for consulting services, $25.00 per share (in shares) | ' | ' | 4,000 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $83.50 per share | ' | ' | 7 | ' | 59,993 | ' | ' | 60,000 |
Common stock issued in private placement offering, $83.50per share (in shares) | ' | ' | 720 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $60.00per share | ' | ' | 22 | ' | 131,978 | ' | ' | 132,000 |
Common stock issued in private placement offering, $60.00 per share (in shares) | ' | ' | 2,200 | ' | ' | ' | ' | ' |
Common stock issued as commission, $200.00per share | ' | ' | 12 | ' | 239,988 | ' | ' | 240,000 |
Common stock issued as commission, $200.00 per share (in shares) | ' | ' | 1,200 | ' | ' | ' | ' | ' |
Common stock issued upon exercise of warrants, $30.00 per share | ' | ' | 4 | ' | 11,996 | ' | ' | 12,000 |
Common stock issued upon exercise of warrants, $30.00 per share (in shares) | ' | ' | 400 | ' | ' | ' | ' | ' |
Common stock of subsidiary issued to employees and consultants, $0.001 per share | ' | ' | ' | ' | 150 | ' | ' | 150 |
Options and warrants granted to employees and consultants for services | ' | ' | ' | ' | 323,860 | ' | ' | 323,860 |
Interest recognized on beneficial conversion feature of convertible debentures issued | ' | ' | ' | ' | 153,333 | ' | ' | 153,333 |
Net loss | ' | ' | ' | ' | ' | ' | -2,461,976 | -2,461,976 |
Balance at Oct. 31, 2008 | ' | ' | 811 | ' | 35,485,498 | ' | -36,110,027 | -623,718 |
Balance (in shares) at Oct. 31, 2008 | ' | ' | 80,971 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $6.00 per share | ' | ' | 2 | ' | 898 | ' | ' | 900 |
Common stock issued to officers, directors and consultants for services, $6.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $7.69 per share | ' | ' | 240 | ' | 184,260 | ' | ' | 184,500 |
Common stock issued to officers, directors and consultants for services, $7.69 per share (in shares) | ' | ' | 24,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $7.75 per share | ' | ' | 2 | ' | 1,159 | ' | ' | 1,161 |
Common stock issued to officers, directors and consultants for services, $7.75 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $8.83 per share | ' | ' | 2 | ' | 1,322 | ' | ' | 1,324 |
Common stock issued to officers, directors and consultants for services, $8.83 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $9.31 per share | ' | ' | 2 | ' | 1,395 | ' | ' | 1,397 |
Common stock issued to officers, directors and consultants, for services, $9.31 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $20.00 per share | ' | ' | 2 | ' | 2,998 | ' | ' | 3,000 |
Common stock issued to officers, directors and consultants, for services, $20.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $26.84 per share | ' | ' | 2 | ' | 4,023 | ' | ' | 4,025 |
Common stock issued to officers, directors and consultants, for services, $26.84 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $28.09 per share | ' | ' | 10 | ' | 28,078 | ' | ' | 28,088 |
Common stock issued to officers, directors and consultants, for services, $28.09 per share (in shares) | ' | ' | 1,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $31.25 per share | ' | ' | 2 | ' | 4,686 | ' | ' | 4,688 |
Common stock issued to officers, directors and consultants, for services, $31.25 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $35.00 per share | ' | ' | 21 | ' | 74,979 | ' | ' | 75,000 |
Common stock issued to officers, directors and consultants, for services, $35.00 per share (in shares) | ' | ' | 2,143 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $44.00 per share | ' | ' | 2 | ' | 6,598 | ' | ' | 6,600 |
Common stock issued to officers, directors and consultants, for services, $44.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $45.00 per share | ' | ' | 2 | ' | 6,748 | ' | ' | 6,750 |
Common stock issued to officers, directors and consultants for services, $45.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $55.00 per share | ' | ' | 2 | ' | 8,248 | ' | ' | 8,250 |
Common stock issued to officers, directors and consultants for services, $55.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $58.25 per share | ' | ' | 40 | ' | 232,960 | ' | ' | 233,000 |
Common stock issued to officers, directors and consultants for services, $58.25 per share (in shares) | ' | ' | 4,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $70.25 per share | ' | ' | 1 | ' | 10,537 | ' | ' | 10,538 |
Common stock issued to officers, directors and consultants for services, $70.25 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $76.00 per share | ' | ' | 1 | ' | 11,399 | ' | ' | 11,400 |
Common stock issued to officers, directors and consultants for services, $76.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $77.25 per share | ' | ' | 122 | ' | 942,328 | ' | ' | 942,450 |
Common stock issued to officers, directors and consultants for services, $77.25 per share (in shares) | ' | ' | 12,200 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $25.00 per share | ' | ' | 40 | ' | 99,960 | ' | ' | 100,000 |
Common stock issued in private placement offering, $25.00 per share (in shares) | ' | ' | 4,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for debt, $50.00 per share | ' | ' | 25 | ' | 128,971 | ' | ' | 128,996 |
Common stock issued to officers, directors and consultants for debt, $50.00 per share (in shares) | ' | ' | 2,500 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for debt, $26.46 share | ' | ' | 3 | ' | 9,259 | ' | ' | 9,262 |
Common stock issued to officers, directors and consultants for debt, $26.46 share (in shares) | ' | ' | 350 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for debt, $7.69 per share | ' | ' | 33 | ' | 25,769 | ' | ' | 25,802 |
Common stock issued to officers, directors and consultants for debt, $7.69 per share (in shares) | ' | ' | 3,356 | ' | ' | ' | ' | ' |
Common stock issued for convertible debt, $4.50 per share | ' | ' | 77 | ' | 34,923 | ' | ' | 35,000 |
Common stock issued for convertible debt, $4.50 per share (in shares) | ' | ' | 7,778 | ' | ' | ' | ' | ' |
Common stock issued for convertible debt, $4.50 per share | ' | ' | 631 | ' | 302,739 | ' | ' | 303,370 |
Common stock issued for convertible debt, $4.50 per share (in shares) | ' | ' | 63,185 | ' | ' | ' | ' | ' |
Common stock issued for convertible debt, $6.41 per share | ' | ' | 23 | ' | 14,977 | ' | ' | 15,000 |
Common stock issued for convertible debt, $6.41 per share (in shares) | ' | ' | 2,339 | ' | ' | ' | ' | ' |
Common stock issued for convertible debt, $22.77 per share | ' | ' | 175 | ' | 399,825 | ' | ' | 400,000 |
Common stock issued for convertible debt, $22.77 per share (in shares) | ' | ' | 17,567 | ' | ' | ' | ' | ' |
Common stock issued in settlement of lawsuit, $37.40 per share | ' | ' | 118 | ' | 443,627 | ' | ' | 443,745 |
Common stock issued in settlement of lawsuit, $37.40 per share (in shares) | ' | ' | 11,800 | ' | ' | ' | ' | ' |
Options and warrants granted to employees and consultants for services | ' | ' | ' | ' | 101,234 | ' | ' | 101,234 |
Interest recognized on beneficial conversion feature of convertible debentures issued | ' | ' | ' | ' | 175,000 | ' | ' | 175,000 |
Net loss | ' | ' | ' | ' | ' | ' | -3,475,892 | -3,475,892 |
Balance at Oct. 31, 2009 | ' | ' | 2,391 | ' | 38,744,398 | ' | -39,585,919 | -839,130 |
Balance (in shares) at Oct. 31, 2009 | ' | ' | 238,989 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $6.50 per share | ' | ' | 220 | ' | 142,780 | ' | ' | 143,000 |
Common stock issued to officers, directors and consultants for services, $6.50 per share (in shares) | ' | ' | 22,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $8.25 per share | ' | ' | 2 | ' | 1,236 | ' | ' | 1,238 |
Common stock issued to officers, directors and consultants for services, $8.25 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $10.00 per share | ' | ' | 2 | ' | 1,498 | ' | ' | 1,500 |
Common stock issued to officers, directors and consultants for services, $10.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services $12.00 per share | ' | ' | 2 | ' | 1,798 | ' | ' | 1,800 |
Common stock issued to officers, directors and consultants for services $12.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services $13.00 per share | ' | ' | 2 | ' | 1,948 | ' | ' | 1,950 |
Common stock issued to officers, directors and consultants, for services $13.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services $16.75 per share | ' | ' | 2 | ' | 2,511 | ' | ' | 2,513 |
Common stock issued to officers, directors and consultants, for services $16.75 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services $18.75 per share | ' | ' | 40 | ' | 74,960 | ' | ' | 75,000 |
Common stock issued to officers, directors and consultants, for services $18.75 per share (in shares) | ' | ' | 4,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services $19.50 per share | ' | ' | 200 | ' | 389,800 | ' | ' | 390,000 |
Common stock issued to officers, directors and consultants, for services $19.50 per share (in shares) | ' | ' | 20,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services $20.00 per share | ' | ' | 199 | ' | 398,801 | ' | ' | 399,000 |
Common stock issued to officers, directors and consultants, for services $20.00 per share (in shares) | ' | ' | 19,950 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services $22.50 per share | ' | ' | 3 | ' | 6,747 | ' | ' | 6,750 |
Common stock issued to officers, directors and consultants, for services $22.50 per share (in shares) | ' | ' | 300 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services $23.25 per share | ' | ' | 1 | ' | 3,486 | ' | ' | 3,487 |
Common stock issued to officers, directors and consultants, for services $23.25 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $24.00 per share | ' | ' | 120 | ' | 287,880 | ' | ' | 288,000 |
Common stock issued to officers, directors and consultants, for services, $24.00 per share (in shares) | ' | ' | 12,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants, for services, $25.00 per share | ' | ' | 1 | ' | 3,749 | ' | ' | 3,750 |
Common stock issued to officers, directors and consultants, for services, $25.00 per share (in shares) | ' | ' | 150 | ' | ' | ' | ' | ' |
Common stock issued for loans, $25.00 per share | ' | ' | 213 | ' | 531,787 | ' | ' | 532,000 |
Common stock issued for loans, $25.00 per share (in shares) | ' | ' | 21,280 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $8.75 per share | ' | ' | 8 | ' | 7,482 | ' | ' | 7,492 |
Common stock issued in private placement offering, $8.75 per share (in shares) | ' | ' | 856 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $11.25 per share | ' | ' | 22 | ' | 25,418 | ' | ' | 25,440 |
Common stock issued in private placement offering, $11.25 per share (in shares) | ' | ' | 2,261 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $14.60 per share | ' | ' | 120 | ' | 174,880 | ' | ' | 175,000 |
Common stock issued in private placement offering, $14.60 per share (in shares) | ' | ' | 12,000 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $50.00 per share | ' | ' | 1 | ' | 4,999 | ' | ' | 5,000 |
Common stock issued in private placement offering, $50.00 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued for debt, $100.00 per share | ' | ' | 16 | ' | 29,002 | ' | ' | 29,018 |
Common stock issued for debt, $100.00 per share (in shares) | ' | ' | 1,600 | ' | ' | ' | ' | ' |
Common stock issued for debt, $20.00 per share | ' | ' | 10 | ' | 19,990 | ' | ' | 20,000 |
Common stock issued for debt, $20.00per share (in shares) | ' | ' | 1,000 | ' | ' | ' | ' | ' |
Common stock redeemed for cash, $20.00 per share | ' | ' | -15 | ' | -14,985 | ' | ' | -15,000 |
Common stock redeemed for cash, $20.00 per share (in shares) | ' | ' | -1,500 | ' | ' | ' | ' | ' |
Options and warrants granted to employees and consultants for services | ' | ' | ' | ' | 67,890 | ' | ' | 67,890 |
Interest recognized on beneficial conversion feature of convertible debentures issued | ' | ' | ' | ' | 96,664 | ' | ' | 96,664 |
Net loss | ' | ' | ' | ' | ' | ' | -3,080,464 | -3,080,464 |
Balance at Oct. 31, 2010 | ' | ' | 3,560 | ' | 41,004,719 | ' | -42,666,383 | -1,658,104 |
Balance (in shares) at Oct. 31, 2010 | ' | ' | 355,886 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $2.00 per share | ' | ' | 60 | ' | 11,940 | ' | ' | 12,000 |
Common stock issued to officers, directors and consultants for services, $2.00 per share (in shares) | ' | ' | 6,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $2.25 per share | ' | ' | 1 | ' | 224 | ' | ' | 225 |
Common stock issued to officers, directors and consultants for services, $2.25 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $2.505 per share | ' | ' | 1 | ' | 249 | ' | ' | 250 |
Common stock issued to officers, directors and consultants for services, $2.505 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $3.00 per share | ' | ' | 180 | ' | 53,820 | ' | ' | 54,000 |
Common stock issued to officers, directors and consultants for services, $3.00 per share (in shares) | ' | ' | 18,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $4.10 per share | ' | ' | 1 | ' | 409 | ' | ' | 410 |
Common stock issued to officers, directors and consultants for services, $4.10 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $5.00 per share | ' | ' | 71 | ' | 35,179 | ' | ' | 35,250 |
Common stock issued to officers, directors and consultants for services, $5.00 per share (in shares) | ' | ' | 7,050 | ' | ' | ' | ' | ' |
Common stock issued for loan, $1.78 per share | ' | ' | 12 | ' | 2,128 | ' | ' | 2,140 |
Common stock issued for loan, $1.78 per share (in shares) | ' | ' | 1,200 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $2.04 per share | ' | ' | 80 | ' | 16,328 | ' | ' | 16,408 |
Common stock issued in private placement offering, $2.04 per share (in shares) | ' | ' | 8,033 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $2.47 per share | ' | ' | 93 | ' | 23,036 | ' | ' | 23,129 |
Common stock issued in private placement offering, $2.47 per share (in shares) | ' | ' | 9,364 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $2.80 per share | ' | ' | 44 | ' | 12,233 | ' | ' | 12,277 |
Common stock issued in private placement offering, $2.80 per share (in shares) | ' | ' | 4,381 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $2.85 per share | ' | ' | 50 | ' | 14,201 | ' | ' | 14,251 |
Common stock issued in private placement offering, $2.85 per share (in shares) | ' | ' | 5,000 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $2.93 per share | ' | ' | 24 | ' | 6,900 | ' | ' | 6,924 |
Common stock issued in private placement offering, 2.93 per share (in shares) | ' | ' | 2,360 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $3.00 per share | ' | ' | 9 | ' | 2,818 | ' | ' | 2,827 |
Common stock issued in private placement offering, $3.00 per share (in shares) | ' | ' | 942 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $3.09 per share | ' | ' | 40 | ' | 12,310 | ' | ' | 12,350 |
Common stock issued in private placement offering, $3.09 per share (in shares) | ' | ' | 4,000 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $3.18 per share | ' | ' | 7 | ' | 2,176 | ' | ' | 2,183 |
Common stock issued in private placement offering, $3.18 per share (in shares) | ' | ' | 686 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $3.33 per share | ' | ' | 8 | ' | 2,562 | ' | ' | 2,570 |
Common stock issued in private placement offering, $3.33 per share (in shares) | ' | ' | 773 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $6.51 per share | ' | ' | 16 | ' | 10,501 | ' | ' | 10,517 |
Common stock issued in private placement offering, $6.51 per share (in shares) | ' | ' | 1,616 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.20 per share | ' | ' | 1,820 | ' | 34,580 | ' | ' | 36,400 |
Common stock issued for debt, $0.20 per share (in shares) | ' | ' | 182,000 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.35 per share | ' | ' | 714 | ' | 24,286 | ' | ' | 25,000 |
Common stock issued for debt, $0.35 per share (in shares) | ' | ' | 71,429 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.38 per share | ' | ' | 399 | ' | 14,601 | ' | ' | 15,000 |
Common stock issued for debt, $0.38 per share (in shares) | ' | ' | 39,920 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.45 per share | ' | ' | 289 | ' | 12,711 | ' | ' | 13,000 |
Common stock issued for debt, $0.45 per share (in shares) | ' | ' | 28,889 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.65 per share | ' | ' | 200 | ' | 12,800 | ' | ' | 13,000 |
Common stock issued for debt, $0.65 per share (in shares) | ' | ' | 20,000 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.70 per share | ' | ' | 543 | ' | 37,457 | ' | ' | 38,000 |
Common stock issued for debt, $0.70 per share (in shares) | ' | ' | 54,286 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.80 per share | ' | ' | 63 | ' | 4,937 | ' | ' | 5,000 |
Common stock issued for debt, $0.80 per share (in shares) | ' | ' | 6,250 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.90 per share | ' | ' | 282 | ' | 25,094 | ' | ' | 25,376 |
Common stock issued for debt, $0.90 per share (in shares) | ' | ' | 28,196 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.05 per share | ' | ' | 95 | ' | 9,905 | ' | ' | 10,000 |
Common stock issued for debt, $1.05 per share (in shares) | ' | ' | 9,524 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.35 per share | ' | ' | 74 | ' | 9,926 | ' | ' | 10,000 |
Common stock issued for debt, $1.35 per share (in shares) | ' | ' | 7,407 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.45 per share | ' | ' | 103 | ' | 14,897 | ' | ' | 15,000 |
Common stock issued for debt, $1.45 per share (in shares) | ' | ' | 10,345 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.50 per share | ' | ' | 80 | ' | 11,920 | ' | ' | 12,000 |
Common stock issued for debt, $1.50 per share (in shares) | ' | ' | 8,000 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.65 per share | ' | ' | 61 | ' | 9,939 | ' | ' | 10,000 |
Common stock issued for debt, $1.65 per share (in shares) | ' | ' | 6,061 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.70 per share | ' | ' | 164 | ' | 27,701 | ' | ' | 27,865 |
Common stock issued for debt, $1.70 per share (in shares) | ' | ' | 16,391 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.75 per share | ' | ' | 69 | ' | 11,931 | ' | ' | 12,000 |
Common stock issued for debt, $1.75 per share (in shares) | ' | ' | 6,857 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.80 per share | ' | ' | 83 | ' | 14,917 | ' | ' | 15,000 |
Common stock issued for debt, $1.80 per share (in shares) | ' | ' | 8,333 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.95 per share | ' | ' | 173 | ' | 33,627 | ' | ' | 33,800 |
Common stock issued for debt, $1.95 per share (in shares) | ' | ' | 17,333 | ' | ' | ' | ' | ' |
Common stock issued for debt, $2.70 per share | ' | ' | 37 | ' | 9,963 | ' | ' | 10,000 |
Common stock issued for debt, $2.70 per share (in shares) | ' | ' | 3,704 | ' | ' | ' | ' | ' |
Common stock issued for debt, $3.02 per share | ' | ' | 115 | ' | 34,460 | ' | ' | 34,575 |
Common stock issued for debt, $3.02 per share (in shares) | ' | ' | 11,467 | ' | ' | ' | ' | ' |
Common stock issued for debt, $3.00 per share | ' | ' | 60 | ' | 17,940 | ' | ' | 18,000 |
Common stock issued for debt, $3.00 per share (in shares) | ' | ' | 6,000 | ' | ' | ' | ' | ' |
Common stock issued for debt, $3.70 per share | ' | ' | 27 | ' | 9,973 | ' | ' | 10,000 |
Common stock issued for debt, $3.70 per share (in shares) | ' | ' | 2,703 | ' | ' | ' | ' | ' |
Common stock issued for debt, $3.75 per share | ' | ' | 40 | ' | 14,960 | ' | ' | 15,000 |
Common stock issued for debt, $3.75 per share (in shares) | ' | ' | 4,000 | ' | ' | ' | ' | ' |
Options and warrants granted to employees and consultants for services | ' | ' | ' | ' | 29 | ' | ' | 29 |
Interest recognized on beneficial conversion feature of convertible debentures issued | ' | ' | ' | ' | 218,532 | ' | ' | 218,532 |
Net loss | ' | ' | ' | ' | ' | ' | -1,495,607 | -1,495,607 |
Balance at Oct. 31, 2011 | ' | ' | 9,748 | ' | 41,828,819 | ' | -44,161,990 | -2,323,423 |
Balance (in shares) at Oct. 31, 2011 | ' | ' | 974,686 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.19 per share | ' | ' | 42 | ' | 4,958 | ' | ' | 5,000 |
Common stock issued to officers, directors and consultants for services, $1.19 per share (in shares) | ' | ' | 4,202 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.21 per share | ' | ' | 21 | ' | 2,479 | ' | ' | 2,500 |
Common stock issued to officers, directors and consultants for services, $1.21 per share (in shares) | ' | ' | 2,066 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.41 per share | ' | ' | 35 | ' | 4,965 | ' | ' | 5,000 |
Common stock issued to officers, directors and consultants for services, $1.41 per share (in shares) | ' | ' | 3,546 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.46 per share | ' | ' | 51 | ' | 7,449 | ' | ' | 7,500 |
Common stock issued to officers, directors and consultants for services, $1.46 per share (in shares) | ' | ' | 5,137 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.48 per share | ' | ' | 34 | ' | 4,966 | ' | ' | 5,000 |
Common stock issued to officers, directors and consultants for services, $1.48 per share (in shares) | ' | ' | 3,378 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.51 per share | ' | ' | 33 | ' | 4,967 | ' | ' | 5,000 |
Common stock issued to officers, directors and consultants for services, $1.51 per share (in shares) | ' | ' | 3,311 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.54 per share | ' | ' | 33 | ' | 4,967 | ' | ' | 5,000 |
Common stock issued to officers, directors and consultants for services, $1.54 per share (in shares) | ' | ' | 3,247 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.56 per share | ' | ' | 10 | ' | 1,490 | ' | ' | 1,500 |
Common stock issued to officers, directors and consultants for services, $1.56 per share (in shares) | ' | ' | 962 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.61 per share | ' | ' | 31 | ' | 4,969 | ' | ' | 5,000 |
Common stock issued to officers, directors and consultants for services, $1.61 per share (in shares) | ' | ' | 3,106 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.65 per share | ' | ' | 30 | ' | 4,970 | ' | ' | 5,000 |
Common stock issued to officers, directors and consultants for services, $1.65 per share (in shares) | ' | ' | 3,030 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.80 per share | ' | ' | 1 | ' | 179 | ' | ' | 180 |
Common stock issued to officers, directors and consultants for services, $1.80 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.78 per share | ' | ' | 17 | ' | 2,983 | ' | ' | 3,000 |
Common stock issued to officers, directors and consultants for services, $1.78 per share (in shares) | ' | ' | 1,685 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.90 per share | ' | ' | 18 | ' | 3,482 | ' | ' | 3,500 |
Common stock issued to officers, directors and consultants for services, $1.90 per share (in shares) | ' | ' | 1,842 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.95 per share | ' | ' | 1 | ' | 194 | ' | ' | 195 |
Common stock issued to officers, directors and consultants for services, $1.95 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.96 per share | ' | ' | 400 | ' | 77,900 | ' | ' | 78,300 |
Common stock issued to officers, directors and consultants for services, $1.96 per share (in shares) | ' | ' | 40,000 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $2.75 per share | ' | ' | 1 | ' | 274 | ' | ' | 275 |
Common stock issued to officers, directors and consultants for services, $2.75 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $3.05 per share | ' | ' | 1 | ' | 304 | ' | ' | 305 |
Common stock issued to officers, directors and consultants for services, $3.05 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $3.25 per share | ' | ' | 1 | ' | 324 | ' | ' | 325 |
Common stock issued to officers, directors and consultants for services, $3.25 per share (in shares) | ' | ' | 100 | ' | ' | ' | ' | ' |
Common stock issued for loan, $2.74 per share | ' | ' | 12 | ' | 3,276 | ' | ' | 3,288 |
Common stock issued for loan, $2.74 per share (in shares) | ' | ' | 1,200 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $0.50 per share | ' | ' | 20,000 | ' | 980,000 | ' | ' | 1,000,000 |
Common stock issued in private placement offering, $0.50 per share (in shares) | ' | ' | 2,000,000 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $0.75 per share | ' | ' | 800 | ' | 59,200 | ' | ' | 60,000 |
Common stock issued in private placement offering, $0.75 per share (in shares) | ' | ' | 80,000 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $1.36 per share | ' | ' | 221 | ' | 29,779 | ' | ' | 30,000 |
Common stock issued in private placement offering, $1.36 per share (in shares) | ' | ' | 22,131 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $1.50 per share | ' | ' | 692 | ' | 103,175 | ' | ' | 103,867 |
Common stock issued in private placement offering, $1.50 per share (in shares) | ' | ' | 69,244 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $1.90 per share | ' | ' | 51 | ' | 9,715 | ' | ' | 9,766 |
Common stock issued in private placement offering, $1.90 per share (in shares) | ' | ' | 5,140 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $2.00 per share | ' | ' | 106 | ' | 21,090 | ' | ' | 21,196 |
Common stock issued in private placement offering, $2.00 per share (in shares) | ' | ' | 10,598 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $2.66 per share | ' | ' | 58 | ' | 15,386 | ' | ' | 15,444 |
Common stock issued in private placement offering, $2.66 per share (in shares) | ' | ' | 5,806 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $2.80 per share | ' | ' | 120 | ' | 33,421 | ' | ' | 33,541 |
Common stock issued in private placement offering, $2.80 per share (in shares) | ' | ' | 11,979 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.55 per share, net | ' | ' | 191 | ' | 10,309 | ' | ' | 10,500 |
Common stock issued for debt, $0.55 per share, net (in shares) | ' | ' | 19,091 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.60 per share, net | ' | ' | 192 | ' | 11,308 | ' | ' | 11,500 |
Common stock issued for debt, $0.60 per share, net (in shares) | ' | ' | 19,167 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.65 per share, net | ' | ' | 505 | ' | 20,147 | ' | ' | 20,652 |
Common stock issued for debt, $0.65 per share, net (in shares) | ' | ' | 50,462 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.70 per share, net | ' | ' | 600 | ' | 29,400 | ' | ' | 30,000 |
Common stock issued for debt, $0.70 per share, net (in shares) | ' | ' | 60,000 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.75 per share, net | ' | ' | 1,269 | ' | 52,678 | ' | ' | 53,947 |
Common stock issued for debt, $0.75 per share, net (in shares) | ' | ' | 126,933 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.80 per share, net | ' | ' | 539 | ' | 42,561 | ' | ' | 43,100 |
Common stock issued for debt, $0.80 per share, net (in shares) | ' | ' | 53,875 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.85 per share, net | ' | ' | 176 | ' | 14,824 | ' | ' | 15,000 |
Common stock issued for debt, $0.85 per share, net (in shares) | ' | ' | 17,647 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.95 per share, net | ' | ' | 453 | ' | 42,547 | ' | ' | 43,000 |
Common stock issued for debt, $0.95 per share, net (in shares) | ' | ' | 45,263 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.00 per share, net | ' | ' | 2,970 | ' | 294,065 | ' | ' | 297,035 |
Common stock issued for debt, $1.00 per share, net (in shares) | ' | ' | 297,035 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.49 per share, net | ' | ' | 84 | ' | 12,416 | ' | ' | 12,500 |
Common stock issued for debt, $1.49 per share, net (in shares) | ' | ' | 8,400 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.50 per share, net | ' | ' | 452 | ' | 67,375 | ' | ' | 67,827 |
Common stock issued for debt, $1.50 per share, net (in shares) | ' | ' | 45,218 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.75 per share, net | ' | ' | 4,382 | ' | 762,442 | ' | ' | 766,824 |
Common stock issued for debt, $1.75 per share, net (in shares) | ' | ' | 438,185 | ' | ' | ' | ' | ' |
Common stock issued for debt, $2.00 per share, net | ' | ' | 285 | ' | 56,715 | ' | ' | 57,000 |
Common stock issued for debt, $2.00 per share, net (in shares) | ' | ' | 28,500 | ' | ' | ' | ' | ' |
Common stock issued for debt, $3.50 per share, net | ' | ' | 71 | ' | 24,929 | ' | ' | 25,000 |
Common stock issued for debt, $3.50 per share, net (in shares) | ' | ' | 7,143 | ' | ' | ' | ' | ' |
Options and warrants granted to employees and consultants for services | ' | ' | ' | ' | 231,616 | ' | ' | 231,616 |
Net loss | ' | ' | ' | ' | ' | ' | -1,249,491 | -1,249,491 |
Balance at Oct. 31, 2012 | ' | ' | 44,737 | ' | 44,889,013 | ' | -45,411,481 | -477,731 |
Balance (in shares) at Oct. 31, 2012 | ' | ' | 4,473,715 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.63 per share | ' | ' | 4 | ' | 705 | ' | ' | 709 |
Common stock issued to officers, directors and consultants for services, $1.63 per share | ' | ' | 435 | ' | ' | ' | ' | ' |
Common stock issued to officers, directors and consultants for services, $1.45 per share | ' | ' | 2 | ' | 282 | ' | ' | 284 |
Common stock issued to officers, directors and consultants for services, $1.45 per share | ' | ' | 196 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $0.50 per share | ' | ' | 3,700 | ' | 181,300 | ' | ' | 185,000 |
Common stock issued in private placement offering, $0.50 per share (in shares) | ' | ' | 370,000 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $0.75 per share | ' | ' | 134 | ' | 9,866 | ' | ' | 10,000 |
Common stock issued in private placement offering, $0.75 per share (in shares) | ' | ' | 13,333 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $1.50 per share | ' | ' | 33 | ' | 4,967 | ' | ' | 5,000 |
Common stock issued in private placement offering, $1.50 per share (in shares) | ' | ' | 3,333 | ' | ' | ' | ' | ' |
Common stock issued in private placement offering, $0.85 per share | ' | ' | 2,118 | ' | 177,882 | ' | ' | 180,000 |
Common stock issued in private placement offering, $0.85 per share (in shares) | ' | ' | 211,765 | ' | ' | ' | ' | ' |
Common stock issued for debt, $0.575 per share, net | ' | ' | 240 | ' | 13,559 | ' | ' | 13,799 |
Common stock issued for debt, $0.575 per share, net (in shares) | ' | ' | 23,998 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.00 per share, net | ' | ' | 80 | ' | 7,920 | ' | ' | 8,000 |
Common stock issued for debt, $1.00 per share, net (in shares) | ' | ' | 8,000 | ' | ' | ' | ' | ' |
Common stock issued for debt, $1.50 per share, net | ' | ' | 80 | ' | 11,920 | ' | ' | 12,000 |
Common stock issued for debt, $1.50 per share, net (in shares) | ' | ' | 8,000 | ' | ' | ' | ' | ' |
Common stock issued on exercise of options, $1.00 per share | ' | ' | 400 | ' | 39,600 | ' | ' | 40,000 |
Common stock issued on exercise of options, $1.00 per share (in shares) | ' | ' | 40,000 | ' | ' | ' | ' | ' |
Interest recognized on beneficial conversion feature of convertible debentures issued | ' | ' | ' | ' | -1,980 | ' | ' | -1,980 |
Adjustment as a result of reverse stock split | ' | ' | 3 | ' | -3 | ' | ' | ' |
Adjustment as a result of reverse stock split, shares | ' | ' | 252 | ' | ' | ' | ' | ' |
Net loss | ' | ' | ' | ' | ' | ' | -998,350 | -998,350 |
Balance at Oct. 31, 2013 | ' | ' | $51,531 | ' | $45,335,031 | ' | ($46,409,831) | ($1,023,269) |
Balance (in shares) at Oct. 31, 2013 | ' | ' | 5,153,027 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' (Deficit) (Parenthetical) (USD $) | 12 Months Ended | |||||||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | Oct. 31, 2010 | Oct. 31, 2009 | Oct. 31, 2008 | Oct. 31, 2007 | Oct. 31, 2006 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Stock issued for convertible debt, per share | ' | ' | ' | ' | ' | ' | $0.25 | $70 |
Stock and warrants issued for exchange of surrender subsidiary, per share | ' | ' | ' | ' | ' | ' | $150 | $170 |
Stock issued for services, per share | $1.63 | $1.19 | $2 | $6.50 | $6 | $175 | $50 | $40 |
Stock issued for services, per share | $1.45 | $1.21 | $2.25 | $8.25 | $7.69 | $150 | $80 | $70 |
Stock issued for services, per share | ' | $1.41 | $2.50 | $10 | $7.75 | $135 | $120 | $90 |
Stock issued for services, per share | ' | $1.46 | $3 | $12 | $8.83 | $125 | $0.25 | $100 |
Stock issued for services, per share | ' | $1.48 | $4.10 | $13 | $9.31 | $115 | $150 | $115 |
Stock issued for services, per share | ' | $1.51 | $5 | $16.75 | $20 | $100 | $160 | $125 |
Stock issued for services, per share | ' | $1.54 | ' | $18.75 | $26.84 | $90 | $175 | $130 |
Stock issued for services, per share | ' | $1.61 | ' | $19.50 | $28.09 | $75 | $200 | $140 |
Stock issued for services, per share | ' | $1.65 | ' | $20 | $31.25 | $70 | $185 | $170 |
Stock issued for services, per share | ' | $1.80 | ' | $22.50 | $35 | $17.50 | ' | $225 |
Stock issued for services, per share | ' | $1.78 | ' | $23.25 | $44 | $140 | ' | $170 |
Stock issued for services, per share | ' | $1.90 | ' | $24 | $45 | $125 | ' | $255 |
Stock issued for services, per share | ' | $1.95 | ' | $25 | $55 | $40 | ' | $170 |
Stock issued for services, per share | ' | $1.96 | ' | ' | $58.25 | $135 | ' | $70 |
Stock issued for services, per share | ' | $2.75 | ' | ' | $70.25 | $25 | ' | $170 |
Stock issued for services, per share | ' | $3.05 | ' | ' | $76 | ' | ' | ' |
Stock issued for services, per share | ' | $3.25 | ' | ' | $77.25 | ' | ' | ' |
Stock issued for loan, per share | ' | ' | ' | $25 | ' | ' | ' | ' |
Stock issued for commission, per share | ' | ' | ' | ' | ' | $200 | $60 | $250 |
Stock issued for former licensee debt, per share | ' | ' | ' | ' | ' | ' | $0.08 | ' |
Stock issued upon exercise of warrants, per share | ' | ' | ' | ' | ' | $30 | ' | ' |
Stock issued for settlement of lawsuit, per share | ' | ' | ' | ' | $37.40 | ' | ' | ' |
Stock issued on excercise of option, per share | $1 | ' | ' | ' | ' | ' | ' | ' |
Stock issued for private placement, per share | $0.50 | $0.50 | $2.04 | $8.75 | $25 | $83.50 | $60 | ' |
Stock issued for private placement, per share | $0.85 | $0.75 | $2.47 | $11.25 | ' | $60 | $250 | ' |
Stock issued for private placement, per share | $1.50 | $1.36 | $2.80 | $14.60 | ' | ' | ' | ' |
Stock issued for private placement, per share | $0.75 | $1.50 | $2.93 | $50 | ' | ' | ' | ' |
Stock issued for private placement, per share | ' | $1.90 | $3 | ' | ' | ' | ' | ' |
Stock issued for private placement, per share | ' | $2 | $3.09 | ' | ' | ' | ' | ' |
Stock issued for private placement, per share | ' | $2.66 | $3.18 | ' | ' | ' | ' | ' |
Stock issued for private placement, per share | ' | $2.80 | $3.33 | ' | ' | ' | ' | ' |
Stock issued for private placement, per share | ' | ' | $6.51 | ' | ' | ' | ' | ' |
Common stock redeemed for cash, per share | ' | ' | ' | $20 | ' | ' | ' | ' |
Stock issued for debt, per share | $1 | $0.55 | $0.20 | $18 | $4.50 | $150 | $100 | ' |
Stock issued for debt, per share | $1.50 | $0.60 | $0.35 | $20 | $4.50 | ' | ' | ' |
Stock issued for debt, per share | $0.57 | $0.65 | $0.38 | ' | $6.41 | ' | ' | ' |
Stock issued for debt, per share | ' | $0.70 | $0.45 | ' | $22.77 | ' | ' | ' |
Stock issued for debt, per share | ' | $0.75 | $0.65 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $0.80 | $0.70 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $0.85 | $0.80 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $0.95 | $0.90 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $1 | $1.05 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $1.49 | $1.35 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $1.50 | $1.45 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $1.75 | $1.50 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $2 | $1.65 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | $3.50 | $1.70 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | ' | $1.75 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | ' | $1.80 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | ' | $1.95 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | ' | $2.70 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | ' | $3.02 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | ' | $3 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | ' | $3.70 | ' | ' | ' | ' | ' |
Stock issued for debt, per share | ' | ' | $3.75 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | 96 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
Cash flows from operating activities: | ' | ' | ' |
Net loss | ($998,350) | ($1,249,491) | ($18,600,630) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Depreciation and amortization | 53,188 | 35,925 | 229,561 |
Gain on extinguishment of debt | ' | -288,192 | -288,192 |
Change in value of derivatives | -8,753 | -55,195 | -158,057 |
Change in anti-dilution liability | -42,043 | ' | -42,043 |
Amortization of costs and fees related to convertible debentures | 32,999 | 235,817 | 1,418,094 |
Common stock issued for services | ' | ' | 2,144,790 |
Common stock issued to officers, directors and consultants for services | 993 | 132,796 | 3,212,484 |
Common stock issued for shares of subsidiary stock | ' | ' | 254,000 |
Common stock of subsidiary issued to employees and consultants | ' | ' | 2,815 |
Common stock issued as a commission | ' | ' | 3,000 |
Common stock issued for accounts payable | ' | ' | 296,583 |
Common stock issued to former licensee | ' | ' | 41,319 |
Common stock issued/recovered on cancelled agreements | ' | ' | 20,478 |
Non-cash compensation for stock options and warrants | ' | ' | 631,923 |
Costs and fees related to issuance of convertible debt | ' | 3,288 | 542,540 |
Interest expense related to beneficial conversion feature | -1,980 | ' | 1,942,820 |
Interest paid with common stock | ' | ' | 118,487 |
Interest on notes receivable for common stock | ' | ' | -1,373 |
(Increase) decrease in assets: | ' | ' | ' |
Related party receivables | 15,269 | -15,269 | ' |
Prepaid expenses | 30,223 | -30,900 | 24,694 |
Inventories | -41,887 | -25,600 | -143,275 |
Increase (decrease) in liabilities: | ' | ' | ' |
Trade accounts payable | 184,794 | -131,650 | 669,688 |
Accounts payable to officers and directors | 85,889 | 92,541 | 838,512 |
Accrued payroll and other expenses | 128,750 | 172,332 | 562,399 |
Net cash used in operating activities | -560,908 | -1,123,598 | -6,279,383 |
Cash flows from investing activities: | ' | ' | ' |
Purchase of fixed assets | -6,404 | -79,789 | -223,547 |
Capitalization of software | -35,313 | ' | -35,313 |
Net cash used in investing activities | -41,717 | -79,789 | -258,860 |
Cash flows from financing activities: | ' | ' | ' |
Principal payments on notes payable to stockholder | -28,300 | -140,500 | -1,301,800 |
Proceeds from issuance of notes payable to a related party | 40,800 | 80,000 | 1,160,600 |
Proceeds from issuance of notes and convertible notes payable | 85,000 | 75,000 | 1,689,234 |
Proceeds from issuance of common stock | 420,000 | 1,273,813 | 3,875,475 |
Net cash provided by financing activities | 517,500 | 1,288,313 | 5,423,509 |
Net change in cash | -85,125 | 84,926 | -1,190,291 |
Cash at beginning of period | 90,132 | 5,206 | 1,195,298 |
Cash at end of period | 5,007 | 90,132 | 5,007 |
Supplemental Disclosure of Cash Flow Information | ' | ' | ' |
Interest paid | 271 | ' | 11,256 |
Income taxes paid | ' | ' | 20,240 |
Supplemental Schedule of Non-Cash Investing and Financing Activities | ' | ' | ' |
Conversion of convertible notes payable to shares of common stock | 12,500 | 395,000 | ' |
Common stock issued in consideration for accounts payable and accrued payroll | 20,000 | 680,804 | ' |
Notes converted by stockholders | ' | 315,500 | ' |
Interest paid with common stock | 1,299 | 127,982 | ' |
Common stock issued in consideration for loan | ' | $3,288 | ' |
Description_of_Business_and_De
Description of Business and Development Stage Company | 12 Months Ended |
Oct. 31, 2013 | |
Description Of Business And Development Stage Company | ' |
Description of Business and Development Stage Company | ' |
1. Description of Business and Development Stage Company | |
Micro Imaging Technology, Inc. (the “Company”), a California corporation, is a holding company whose operations are conducted through its 81%-owned subsidiary. | |
The losses incurred to date which are applicable to the noncontrolling (minority) stockholders of the Company’s consolidated subsidiary, Micro Imaging Technology (MIT) exceed the value of the equity held by the noncontrolling stockholders. Such losses have been allocated to the Company as the majority stockholder and are included in the net loss and accumulated deficit in the consolidated financial statements for the fiscal year ended October 31, 2013. In accordance with the guidance provided under FASB Codification No. 810, (Consolidation-Noncontrolling Interests) the Company’s annual and interim reports present losses by the subsidiary separately from that attributable to the parent and separately in the equity section of the balance sheets. | |
In 1997, the Company began marketing a small, point-of-use water treatment product aimed at the high purity segment of commercial and industrial water treatment markets. In February 2000, the Company formed Electropure EDI, Inc. (EDI), a wholly-owned Nevada subsidiary, through which all manufacturing and sales of its proprietary water treatment products were then conducted. In October 2005, the Company sold the assets of the EDI subsidiary and discontinued operations. | |
The Company acquired, in October 1997, an exclusive license to patent and intellectual property rights involving laser light scattering techniques to be utilized in the detection and monitoring of toxicants in drinking water. The Company formed Micro Imaging Technology (MIT) in February 2000, a wholly-owned Nevada subsidiary, to conduct research and development based upon advancements developed and patented from the licensed technology. It is this technology that is being developed. | |
The Company is developing a non-biologically based system utilizing both proprietary hardware and software to rapidly (near real time) determine the specific specie of an unknown microbe present in a fluid with a high degree of statistical probability (“MIT System”). It will analyze a sample presented to it and compare its characteristics to a library of known microbe characteristics on file. At present, it is the Company’s only operation. | |
Effective with the sale of its EDI operation in October 2005, the Company’s planned principal operation, the further development and marketing of its remaining technology, has not produced any significant revenue and, as such, the Company, beginning with the fiscal year commenced November 1, 2005, is considered a development stage enterprise. |
Basis_of_Presentation
Basis of Presentation | 12 Months Ended |
Oct. 31, 2013 | |
Basis Of Presentation | ' |
Basis of Presentation | ' |
2. Basis of Presentation | |
The Company incurred net losses from continuing operations of $998,350 and $1,249,491 for the fiscal years ended October 31, 2013 and 2012, respectively. At October 31, 2013 the Company had an accumulated deficit of $46,409,831 and is in default under the redemption provisions of its redeemable preferred stock (Note 7). These raise substantial doubts about the Company’s ability to continue as a going concern. The Company has been able to secure operating capital in the prior and current fiscal years through loans from an individual who is a related party and the largest stockholder, through the sale of convertible debentures and through the sale of the Company’s common stock in various private placement transactions. | |
The Company is also negotiating with private accredited investors for the sale of its common stock in private placement transactions. No assurances can be given that the Company can or will continue to obtain sufficient working capital through the sale of the Company’s securities, borrowing, or through the sale of assets or products that will generate sufficient revenues in the future to sustain ongoing operations. The Company’s ability to continue as a going concern will be dependent upon its ability to gain access to equity and debt capital or achieve profitable operations. | |
The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amount and classification of liabilities or any other adjustment that might be necessary should the Company be unable to continue as a going concern. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||
Oct. 31, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Summary of Significant Accounting Policies | ' | ||
3. Summary of Significant Accounting Policies | |||
Principles of Consolidation | |||
The accompanying consolidated financial statements include the accounts of the Company and its subsidiary, Micro Imaging Technology (“MIT”). As of October 31, 2005, the operations of the Company’s subsidiaries, Electropure EDI, Inc. and Electropure Holdings, LLC, were discontinued and the Company became a development stage company. All significant intercompany balances and transactions have been eliminated in consolidation. | |||
Use of Estimates | |||
The preparation of financial statements in conformity with generally accepted accounting principles 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 date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual amounts could differ from those estimates. | |||
Changes in Capitalization and Reverse Stock Split | |||
On February 8, 2013, the Company amended its Articles of Incorporation and decreased the authorized number of shares of Common Stock from 2.5 billion to 25 million shares. At the same time, the Company underwent a five hundred-for-one (500:1) reverse stock split of its Common Stock and Redeemable Convertible Preferred Stock. For purposes of this Annual Report, all issuances of common stock and options or warrants to purchase common stock, if any, are reflected retroactively in post-reverse split amounts. As of October 31, 2013, the reverse split effected by the Company resulted in a reduction in capital stock and an increase in additional paid-in capital in the amount of $24,677,786. | |||
Cash and Cash Equivalents | |||
For purposes of reporting within the statement of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. | |||
Impairment of Long-Lived Assets | |||
The Company annually evaluates its long-lived assets, including identifiable intangible assets for potential impairment. When circumstances indicate that the carrying amount of an asset is not recoverable, as demonstrated by the projected undiscounted cash flows, an impairment loss is recognized. The Company’s management has determined that there was no such impairment present at October 31, 2013 and 2012. | |||
Inventory | |||
Inventory is stated at the lower of cost or market. Cost is determined on a first-in, first-out (FIFO) basis. The Company’s management monitors inventory for excess and obsolete items and makes necessary valuation corrections when such adjustments are required. | |||
Property and Equipment | |||
Property and equipment are recorded at cost and are depreciated using the straight-line method over an expected useful life of 3 or 5 years. The leasehold improvements made to the Company’s leased facility are being depreciated over an expected useful life of 5 years. Expenditures for normal maintenance and repairs are charged to operations. The cost and related accumulated depreciation of assets are removed from the accounts upon retirement or other disposition, and the resulting profit or loss is reflected in the Statement of Operations. Renewals and betterments that materially extend the life of the assets are capitalized. | |||
The production tooling for the Company’s revised MIT 1000 has been capitalized and the $14,000 cost is being amortized over an estimated useful life of 3 years. | |||
Software Costs | |||
The Company capitalized $35,313 in fiscal 2013 in the development of proprietary software for the MIT 1000 rapid microbial identification system. The cost of the software is being amortized on a straight-line basis over 3 years. | |||
Advertising Costs | |||
The Company charges advertising costs to expense as incurred. The Company incurred $17,123 and $25,357 in advertising expense during the fiscal year ended October 31, 2013 and 2012, respectively. | |||
Accrued Payroll, Payroll Taxes and Benefits | |||
From April 2010 through March 2012, payments made to two employees were recorded as reductions in accrued and unpaid payroll. In April 2012, the Company reclassified such payments as net payroll payments; calculated and recorded the employer and employee taxes that should have been withheld on such payment. Federal and state payroll tax returns have been filed for the last three quarters of 2010, all of 2011 and the first quarter of 2012. The Company recorded a total of $81,206 and $20,560 in federal and state payroll taxes due, respectively. Estimated federal penalties and interest on the late filings and payments, in the sum of $24,196, have been accrued as of October 31, 2013. On September 20, 2012 and May 14, 2013, the Internal Revenue Service filed a Notice of Federal Tax Lien against the Company assessing $58,858 and $13,605, respectively for unpaid taxes, penalties and interest. The Company is in contact with the Internal Revenue Service to work out a payment schedule for the amounts due. | |||
Estimated state penalties and interest of $4,316 on the above late filings were accrued. A Notice of Tax Lien for a portion of the taxes due was filed by the State of California on November 9, 2012 in the amount of $8,206, including penalty and interest. In October 2013, the California tax authority levied the Company’s account in the sum of $13,807 with an additional levy of $5,451 in November 2013. On December 17, 2013, the Company entered into an installment agreement with the California tax authority to pay $304 per month commencing January 27, 2014 until the remaining balance due has been satisfied. | |||
Accrued Payroll and Benefits consist of the above payroll taxes, salaries, wages, and vacation benefits earned by employees, but not disbursed as of October 31, 2013 and includes payroll earned, but unpaid to various employees between January 16, 2013 and October 31, 2013. Accrued Payroll also includes the above estimated penalties and interest due on such unpaid payroll taxes. Liability for vacation benefits is accrued when earned monthly and reduced when taken. At the end of each fiscal period, the balance in the accrued vacation benefits liability account is adjusted to reflect current pay rates. Annual leave earned but not taken is considered an unfunded liability since this leave will be funded from future appropriations when it is actually taken by employees. | |||
Concentration of Credit Risk and Other Risks and Uncertainties | |||
Accounts Payable – Trade | |||
As of October 31, 2013, the amount due to a former consultant to the Company, $112,000, represented 33% of the total amount due for accounts payable to non-affiliates. As of October 31, 2013, the Company owed its current independent accounting firm $33,500, which represents 10% of the total amount due for accounts payable. An additional 19% of accounts payable, or $64,952, is due legal counsel in the Alpine MIT Partners litigation in Texas. The Company also owes local counsel $34,749 in accrued fees as of October 31, 2013, which represents 10% of the total amount due for accounts payable. | |||
Litigation and Claims | |||
Alpine MIT Partners | |||
On May 16, 2012, Alpine MIT Partners, LLC (Plaintiffs) filed a civil action against the Company and its Chairman and Chief Executive Officer, Jeffrey G. Nunez, (collectively, the Company), in the Texas District Court, Travis County. Plaintiffs alleged breach of contract and civil conspiracy, as well as tortious interference with contractual relations and prospective business relations. The lawsuit alleges that the Company breached certain provisions of a March 7, 2012 Securities Purchase Agreement the Company executed with the Plaintiff to sell up to $2.0 million of 7% Senior Secured five-year Convertible Debentures convertible into shares of common stock at a conversion rate of $.003 per share. The purchase and sale of the first $1.0 million Debenture was scheduled to close on or before April 6, 2012 and was subject to, among other things, Alpine closing the necessary equity funding to consummate the transactions. No money was ever received by the Company from Alpine. At a March 7, 2013 hearing, the Texas court upheld the Company’s argument and dismissed the complaint against the Company for lack of jurisdiction. | |||
In August, 2013, Alpine filed an amended Complaint against Jeffrey Nunez in the Texas case alleging tortuous interference and conspiracy to terminate the March 7, 2012 Securities Purchase Agreement. Mr. Nunez believes that the allegations of the lawsuit against him have no merit and intends to vigorously defend the matter. | |||
On January 10, 2013, the Company learned that Plaintiffs had filed a lien against the Company’s patents on May 8, 2012 with the California Secretary of State under the Uniform Commercial Code. On or about January 29, 2013, the Company filed suit against Alpine MIT Partners, LLC in the Orange County, California Superior Court alleging, among other claims, that the UCC filing is unauthorized. The lawsuit also names the managing director and managing member of Alpine as Defendants and alleges that they made false promises, intentional misrepresentations and breached the contract which is the subject of the Texas suit. The Company is seeking damages of $1.6 million. This lawsuit is currently in the discovery phase. | |||
Michael W. Brennan | |||
Concurrent with his April 13, 2012 resignation as Chairman of the Board of Directors and Chief Executive Officer, the Company agreed to repay a total of $160,000 in principal loans, $24,339 in accrued interest and $13,120 in unpaid fees and expenses due Michael Brennan over a 25-month payment schedule commencing May 1, 2012. Due to lack of funds, the Company has not made payments due Mr. Brennan since February 2013, each in the amount of $7,500. As of October 31, 2013, the principal balance due under the agreement amounted to $114,450 and, although Mr. Brennan originally waived interest on the note, the Company has accrued $11,750 in interest on that amount as of October 31, 2013. | |||
On or about October 4, 2013, Mr. Brennan filed a lawsuit in the California Superior Court of Los Angeles for breach of contract for failure to pay monies due him under the above 2012 agreement. The lawsuit seeks $123,509 in principal damages, plus interest, costs and attorney fees. The Company has filed an answer to the complaint and is contesting the amount due Mr. Brennan. This lawsuit is currently in the discovery phase. | |||
See also Item 13 – “Subsequent Events.” | |||
In accordance with accounting standards regarding loss contingencies, the Company accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated, and the Company discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for its financial statements not to be misleading. The Company does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated, or when the liability is believed to be only reasonably possible or remote. | |||
Because litigation outcomes are inherently unpredictable, the Company’s evaluation of legal proceedings often involves a series of complex assessments by management about future events and can rely heavily on estimates and assumptions. If the assessments indicate that loss contingencies that could be material to any one of its financial statements are not probable, but are reasonably possible, or are probable, but cannot be estimated, then the Company discloses the nature of the loss contingencies, together with an estimate of the range of possible loss or a statement that such loss is not reasonably estimable. While the consequences of certain unresolved proceedings are not presently determinable, and an estimate of the probable and reasonably possible loss or range of loss in excess of amounts accrued for such proceedings cannot be reasonably made, an adverse outcome from such proceedings could have a material adverse effect on its financial statements in any given reporting period. However, in the opinion of Management, after consulting with legal counsel, the ultimate liability related to the current outstanding litigation is not expected to have a material adverse effect on its financial statements. | |||
Management is of the opinion that the ultimate resolution of such matters now pending will not have a material adverse effect on the Company’s consolidated results of operations, financial position or cash flows. However, the outcome of legal proceedings cannot be predicted with any degree of certainty. | |||
Antidilution Liability | |||
The Company has recorded a $23,358 liability to allow for the possible dilutive impact of equity issuances that alter or effect conversion or exchange rates existing on the various dates of conversion or exercise of securities having adjustable conversion rates. The liability is adjusted to reflect current fair market value at the end of each fiscal period. Due to the decline in the Company’s stock price, we recorded a gain of $42,043 at October 31, 2013. | |||
Research and Development | |||
Research and development expenditures are charged to expense as they are incurred. The Company’s research and development activities include ongoing work on various uses of the micro imaging multi-angle laser light scattering technology. Contract research and development expenditures are expensed as incurred. | |||
Stock Based Compensation | |||
The Company measures share based compensation at the grant date, based on the fair value of the award using the Black-Scholes Option Pricing Model, and recognizes such compensation as an expense over the employee’s requisite service period (generally the vesting period of the equity grant). | |||
The Company recognized no share-based compensation expense during the fiscal years ended October 31, 2013 and 2012. | |||
Activity under the Company’s stock option plans is included in Note 9. | |||
Income Taxes | |||
The Company accounts for income taxes under the liability method. Under the liability method, deferred income taxes are determined based on differences between the financial reporting and tax bases of assets and liabilities. They are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company is required to adjust its deferred tax liabilities in the period when tax rates or the provisions of the income tax laws change. Valuation allowances are established to reduce deferred tax assets to the amounts expected to be realized. | |||
The Company has not yet completed its state and federal corporate income tax returns for the fiscal year ended October 31, 2012, which were due to be filed (with an extension), by July 15, 2013. Neither has the Company paid the $1,600 state income tax due for fiscal 2012 or the estimated tax of $1,600 due to the state for the fiscal year ended October 31, 2013. The Company has accrued $1,150 as of October 31, 2013 as penalties and interest related to these late payments and filings. | |||
Loss Per Share | |||
Basic earnings (loss) per share excludes dilution and is calculated by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then share in the earnings (loss) of the entity. Common stock equivalents of 872,363 and 254,877 as of October 31, 2013 and 2012, respectively, have been omitted from the earnings (loss) per share calculation, as their effect would be antidilutive. | |||
New Accounting Pronouncements | |||
On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements. | |||
On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following: | |||
● | The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors. | ||
● | Any additional amounts the reporting entity expects to pay on behalf of its co-obligors. | ||
While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position. | |||
On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position. | |||
On July 18, 2013, the FASB issued ASU 2013-11, which provides guidance on financial statement presentation of an unrecognized tax benefit2 when a net operating loss (NOL) carryforward, a similar tax loss, or a tax credit carryforward exists. The FASB’s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. This ASU applies to all entities with unrecognized tax benefits that also have tax loss or tax credit carryforwards in the same tax jurisdiction as of the reporting date. Under the ASU, an entity must present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for an NOL carryforward, a similar tax loss, or a tax credit carryforward except when: | |||
● | An NOL carryforward, a similar tax loss, or a tax credit carryforward is not available as of the reporting date under the governing tax law to settle taxes that would result from the disallowance of the tax position. | ||
● | The entity does not intend to use the deferred tax asset for this purpose (provided that the tax law permits a choice). | ||
If either of these conditions exists, an entity should present an unrecognized tax benefit in the financial statements as a liability and should not net the unrecognized tax benefit with a deferred tax asset. | |||
ASU 2013-11 is effective for public entities for fiscal years beginning after December 15, 2013, and interim periods within those years. The adoption of ASU 2013-11 is not expected to have a material effect on the Company’s operating results or financial position. | |||
There were various other updates recently issued, many of which represented technical corrections to the accounting literature or application to specific industries. N one of the updates are expected to a have a material impact on our consolidated financial position, results of operations or cash flows. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
4. Property, Plant and Equipment | |||||||||
At October 31, property, plant and equipment consisted of the following: | |||||||||
2013 | 2012 | ||||||||
Machinery and equipment | $ | 235,504 | $ | 229,100 | |||||
Furniture and fixtures | 74,326 | 74,326 | |||||||
Leasehold improvements | 77,779 | 77,779 | |||||||
Production molding | 14,000 | 14,000 | |||||||
Software | 35,313 | - | |||||||
436,922 | 395,205 | ||||||||
Less: accumulated depreciation | (325,352 | ) | (272,164 | ) | |||||
Total property and equipment, net | $ | 111,570 | $ | 123,041 | |||||
Depreciation and amortization expense for the years ended October 31, 2013 and 2012 was $53,188 and $35,925, respectively. |
Convertible_Debentures
Convertible Debentures | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Convertible Notes Payable [Abstract] | ' | ||||||||||||||||
Convertible Debentures | ' | ||||||||||||||||
5. Convertible Debentures | |||||||||||||||||
Series 1 Notes | |||||||||||||||||
Under the provisions of ASC 815-40-15, “Derivatives and Hedging-Contracts in Entity’s Own Equity-Scope and Scope Exceptions,” a number of our outstanding Convertible notes are not considered indexed to our stock, as a result of an anti-dilution protection provision in these notes. The application of ASC 815-40-15, effective August 1, 2011, resulted in our accounting for these notes as derivative instruments, and they are recognized as liabilities in our consolidated balance sheets. | |||||||||||||||||
Between August 16, 2010 and February 21, 2012, the Company entered into a Securities Purchase Agreement with an unaffiliated lender in connection with the issuance of eleven (11) separate 8% convertible notes in various principal amounts, aggregating $387,500. As of September 14, 2012, the lender had converted all of the $387,500 in principal notes, plus $45,000 and $15,500 in principal penalties and accrued interest, respectively, on such notes and received a total of 663,219 shares of common stock upon the conversions at prices ranging from $0.20 to $1.95 per share. | |||||||||||||||||
On July 18, 2013 and September 18, 2013, the Company entered into new Securities Purchase Agreements with the lender, each in the sum of $42,500, and paid a total of $5,000 out of the proceeds of the notes to lender for legal fees and expenses related to the referenced agreements. The notes mature on April 22, 2014 and June 20, 2014, respectively, and are convertible into shares of common stock at a discount of 39% of the average of the lowest three closing bid prices of the common stock during the ten trading days prior to the conversion date. The Series I Notes contain a provision requiring an adjustment to the conversion price of the note in the event the Company issues or sells any shares of common stock, or securities convertible into or exercisable for common stock, at a price per share lower than such conversion price. Accordingly, the Series I Notes are accounted for as a derivative liability, measured at fair value, with changes in fair value recognized as gain or loss for each reporting period thereafter. The notes were recorded at fair value, using the Binomial valuation model, and a derivative liability of $75,557 has been recorded for the fiscal period ended October 31, 2013. This liability will be revalued each reporting period and gains and losses will be recognized in the statement of operations under “Other Income (Expense)”. | |||||||||||||||||
Pursuant to the terms of the Series I Notes, the Company has instructed its stock transfer agent to reserve 1,400,000 shares of the Company’s common stock to be issued if the notes are converted. Such shares have been reserved, but are not considered as issued and outstanding. If the Series I Notes had been converted as of October 31, 2013, the Company would have issued a total of 348,360 shares of common stock the value of which would exceed, by $89,180 the principal balance due on the note. | |||||||||||||||||
See also Note 13 – “Subsequent Events.” | |||||||||||||||||
Fair value of financial instruments | |||||||||||||||||
The accounting standards regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The Company considers the carrying amount of cash and other current assets and liabilities to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization. | |||||||||||||||||
The Company has also adopted ASC 820-10 (“Fair Value Measurements”) which defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: | |||||||||||||||||
● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | |||||||||||||||||
● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. | |||||||||||||||||
● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. | |||||||||||||||||
The carrying amounts of our financial instruments, including cash, accounts payable and accrued expenses approximate fair value because of their generally short maturities. | |||||||||||||||||
The Company measured the fair value of the Series 1 Note by using the Binomial Valuation model. As of October 31, 2013, the assumptions used to measure fair value of the liability embedded in our outstanding Series I Note included an exercise price of $0.31 per share, a common share price of $0.50, a discount rate of 0.08%, and a volatility of 138%. | |||||||||||||||||
The following table sets forth, by level within the fair value hierarchy, our financial instrument liabilities as of October 31, 2013 (See also Note 6 – Convertible Debentures – “Series 1 Notes”): | |||||||||||||||||
Quoted | Significant | Significant | Total | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active Markets For Identical Assets | Observable | Inputs | |||||||||||||||
Inputs | |||||||||||||||||
(Level 3) | (Level 3) | (Level 3) | |||||||||||||||
Derivative liability | $ | — | $ | — | $ | 75,557 | $ | 75,557 | |||||||||
Total | $ | — | $ | — | $ | 75,557 | $ | 75,557 | |||||||||
The following table sets forth a summary of changes in the fair value of our Level 3 financial instrument liability for the fiscal years ended October 31, 2012 and 2013: | |||||||||||||||||
Fair Value | |||||||||||||||||
Measurements | |||||||||||||||||
Using | |||||||||||||||||
Significant | |||||||||||||||||
Unobservable | |||||||||||||||||
Inputs | |||||||||||||||||
(Level 3) | |||||||||||||||||
Balance October 31, 2012 | $ | - | |||||||||||||||
Additions | 84,310 | ||||||||||||||||
Net gain included in earnings | (8,753 | ) | |||||||||||||||
Settlements | - | ||||||||||||||||
Balance October 31, 2013 | $ | 75,557 | |||||||||||||||
Other Convertible Notes | |||||||||||||||||
On November 10, 2010, the Company entered into a convertible note for $64,868 with a stockholder. The Note matured on May 31, 2012 and bears interest at the rate of ten percent (10%) per annum. The Note is convertible into shares of common stock at a forty two percent (42%) discount to the average of the lowest three (3) closing bid prices of the common stock during the ten (10) trading days prior to the conversion date. The note holder may convert any or all of the unpaid principal note prior to the maturity date. The Company calculated the intrinsic value of the conversion feature to be $46,973 as of the date of issuance of the debentures using the same criteria as noted above, which amount was fully amortized as of July 31, 2012. The Company has expensed $19,300 in accrued interest on the note as of October 31, 2013. If the note had been converted as of October 31, 2013, the Company would have issued a total of 279,603 shares of common stock the value of which would exceed, by $74,934 the principal balance due on the note. The Company is currently negotiating with the lender to settle or renegotiate the Note. | |||||||||||||||||
On November 27, 2009, the Company borrowed $25,000 from an unaffiliated lender. In September 2011, the lender converted $12,500 of the principal and $2,876 in accrued interest into 17,084 shares of common stock. The Company issued an Amended and Restated Convertible Note for the $12,500 principal balance of the loan bearing 6% annual interest. The amended note matured on December 31, 2012 and on June 15, 2013, the lender converted the remaining $12,500 principal plus $1,299 in accrued interest into 23,998 shares of common stock at a conversion rate of $0.575 per share. Because the original note carried a beneficial conversion feature, the Company amortized a total of $10,507 as the intrinsic value of the note, including $3,202 which was expensed during fiscal 2013. | |||||||||||||||||
At October 31, 2013 and 2012, without taking into effect any unamortized discounts, convertible debentures and Series 1 notes consisted of the following: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Series 1 Notes, principal and interest at 8% maturing through May 25, 2012. | $ | 85,000 | $ | — | |||||||||||||
Convertible note payable to stockholder; principal and interest at 10% due on May 31, 2012. | $ | 64,868 | $ | 64,868 | |||||||||||||
Convertible notes payable to various stockholders; principal and interest at 6% due on August 1, 2012 and December 31, 2012. | $ | — | $ | 12,500 | |||||||||||||
149,868 | 77,368 | ||||||||||||||||
Less current maturities | $ | 149,868 | $ | 77,368 | |||||||||||||
Long term portion of Convertible and Series 1 notes payable | $ | — | $ | — | |||||||||||||
Of the above notes, $64,868 is currently due and payable. The Company’s outstanding notes mature as follows for the years ending October 31: | |||||||||||||||||
2014 | $ | 85,000 | |||||||||||||||
Thereafter | — | ||||||||||||||||
$ | 85,000 |
Notes_Payable_to_an_Officer_an
Notes Payable to an Officer and Stockholder | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Notes Payable to an Officer and Stockholders | ' | ||||||||
6. Notes Payable to an Officer and Stockholders | |||||||||
At October 31, 2012 and 2011, without taking into effect any unamortized discounts, notes payable to an officer and to stockholders consisted of the following: | |||||||||
2013 | 2012 | ||||||||
Unsecured, interest-free convertible notes payable to former officer/director of the Company; principal due on payment schedule through May 2014. | $ | 113,450 | $ | 136,950 | |||||
Unsecured notes payable to officers/directors of the Company; principal and interest at 6% due on demand. | $ | 36,000 | $ | — | |||||
Unsecured convertible note payable to various stockholders; principal and interest at 6% due between December 9, 2010 and March 31, 2013. | $ | 52,000 | $ | 52,000 | |||||
201,450 | 188,950 | ||||||||
Less current maturities | $ | 201,450 | $ | 142,844 | |||||
Long term portion of notes payable | $ | — | $ | 46,106 | |||||
Of the above notes payable, $113,450 is the subject of a lawsuit brought against the Company by former officer and director, Michael Brennan. The Company is currently negotiating with the holders of $52,000 of the above notes to either extend the maturity date or convert the notes into shares of common stock. The Company’s outstanding notes mature as follows for the years ending: | |||||||||
2014 | $ | 201,450 | |||||||
Thereafter | — | ||||||||
$ | 201,450 |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
7. Income Taxes | |||||||||
At October 31, the components of the income tax expense are as follows: | |||||||||
2013 | 2012 | ||||||||
Current tax expense: | |||||||||
Federal | $ | — | $ | — | |||||
State | 1,600 | 1,600 | |||||||
Total corporate tax expense | 1,600 | 1,600 | |||||||
Deferred tax expenses: | |||||||||
Federal | — | — | |||||||
State | — | — | |||||||
— | — | ||||||||
Total provision: | $ | 1,600 | $ | 1,600 | |||||
Significant components of the Company’s net deferred income tax assets/ (liabilities) at October 31, 2013 were as follows: | |||||||||
Current deferred tax assets: | |||||||||
Accrued vacation | $ | — | |||||||
Book compensation for options and warrants | — | ||||||||
Other | — | ||||||||
Total current deferred tax assets | — | ||||||||
Valuation allowance | — | ||||||||
Net deferred current tax assets | $ | — | |||||||
Noncurrent deferred tax assets: | |||||||||
Net operating loss carryforward | $ | 10,782,000 | |||||||
Other credit carryforward | 165,000 | ||||||||
Depreciation and amortization | — | ||||||||
Total noncurrent deferred tax assets | 10,947,000 | ||||||||
Valuation allowance | (10,947,000 | ) | |||||||
Net deferred noncurrent tax assets | — | ||||||||
Total deferred tax assets | $ | — | |||||||
The Company, based upon its history of losses and management’s assessment of when operations are anticipated to generate taxable income, has concluded that it is more likely than not that none of the net deferred income tax assets will be realized through future taxable earnings and has established a valuation allowance for them. The change in the total valuation allowance for the year ended October 31, 2013 was an increase of $396,000. | |||||||||
Reconciliation of the effective income tax rate to the U.S. statutory income tax rate is as follows: | |||||||||
2013 | 2012 | ||||||||
Tax expense at U.S. statutory income tax rate | (34.0 | )% | (34.0 | )% | |||||
State tax | (5.8 | )% | (5.8 | )% | |||||
Utilization of net operating loss | 0 | % | 0 | % | |||||
Change in beginning balance of valuation allowance | 39.8 | % | 39.8 | % | |||||
Effective income tax rate | — | % | — | % | |||||
As of October 31, 2013, the Company has federal and state net operating loss carryforwards of $27,091,000 and $21,561,000, respectively. The federal and state net operating loss carryforwards begin expiring through 2013 and 2023. The Company also has federal and state research and development tax credit carryforwards of $165,000 and $130,000, respectively. | |||||||||
Management regularly evaluates the likelihood of realizing the benefit for income tax positions taken by the Company in various federal and state filings by considering all relevant facts, circumstances and information available. If management believes it is more likely than not that a position will be sustained, the Company will recognize a benefit at the largest amount which is cumulatively greater than 50% likely to be realized. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as a component of the provision for income taxes. The Company has not recognized any contingencies for uncertain tax positions for the years ended October 31, 2013 and 2012. Although, the IRS is not currently examining any of the Company’s income tax returns, tax years 2009 through 2013 remain open and are subject to examination. |
Stockholders_Deficit
Stockholders' Deficit | 12 Months Ended |
Oct. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Deficit | ' |
8. Stockholders’ Deficit | |
Common Stock | |
On November 29, 2012, the Company issued 200,000 shares of common stock to Gregg Newhuis, a Director of the Company, for proceeds of $100,000, or $0.50 per share. | |
On January 11, 2013, a major stockholder of the Company exercised a warrant to purchase 40,000 shares of common stock at $1.00 per share and the Company received $40,000 pursuant to the exercise. | |
On January 11, 2013, the Company’s Chief Financial Officer, Victor Hollander, purchased 3,333 shares of Common Stock for proceeds of $5,000, or $1.50 per share. | |
Between January 16, 2013 and February 22, 2013, the Company issued a total of 16,000 shares of common stock in payment for legal services rendered valued at $20,000. | |
Between February 6, 2013 and April 3, 2013, the Company issued a total of 211,764 to a major stockholder for proceeds of $180,000, or $0.85 per share. This same stockholder purchased an additional 60,000 shares of common stock for $30,000, or $0.50 per share, on August 13, 2013. | |
On April 26, 2013, the Company issued 435 and 196 shares of common stock to Jeffrey Nunez at $1.63 and $1.45 per share, respectively, in partial payment of previous transaction fees due him pursuant to an April 2012 agreement whereby he received a 5% transaction fee on all monies received by the Company. | |
On June 4, 2013, the Company sold 50,000 shares of common stock to a major stockholder for proceeds of $25,000, or $0.50 per share. As partial consideration for the transactions, the stockholder also received a three year warrant to purchase 50,000 shares of common stock at $0.50 per share and warrants to purchase 100,000 shares of common stock at $1.00 per share. | |
Between August 7, 2013 and October 17, 2013, the above-referenced major stockholder purchased an additional 40,000 shares of common stock at $0.50 per share, for proceeds of $20,000. The stockholder also received six-month warrants purchase an additional 20,000 shares of common stock for $1.00 per share. | |
On June 15, 2013, a stockholder converted a $12,500 principal loan, plus $1,299 in accrued interest, into 23,998 shares of common stock at $0.575 per share. And on June 28, 2013, this same stockholder purchased 13,333 shares of common stock from the Company for proceeds of $10,000, at $0.75 per share. | |
On September 5, 2013, an unaffiliated investor purchased 20,000 shares of common stock at $0.50 per share for total proceeds of $10,000. | |
Redeemable Preferred Stock | |
The redeemable preferred stock, issued in 1987 to the then holders of the common and Class B common stock, had a redemption date in 1991. The redeemable preferred stock has not been redeemed due to a lack of “legally available funds.” These shares must be redeemed by the Company as soon as possible for $0.01 per share at any time the Company has the “legally available funds” for the redemption. There was a conversion feature to this redeemable preferred stock, which, with the passing of time, has lapsed. The Company believes the definition of “legally available funds” to be the amount under California law from which dividends could be paid by a corporation that does not have retained earnings. In general, California law provides that to the extent a corporation’s assets, excluding intangible and deferred assets, are at least equal to (a) the amount of the proposed distribution, and (b) 1.25 times its liabilities, excluding deferred taxes, deferred income, and deferred credits, a corporation may pay dividends. Under this definition, the Company had “legally available funds” as of October 31, 2000 and 1999. As a result, the Company is in default under the redemption provisions of the redeemable preferred stock. | |
The redeemable preferred stock is not assignable or transferable, except upon death or upon approval of a majority of the members of the Board of Directors not holding such shares and is not entitled to receive any dividends. | |
Preferred Stock | |
The Company is authorized to issue 1,000,000 shares of Preferred Stock, $1.00 par value. The terms of the Preferred Stock, or any series thereof, may be determined from time to time by the Board of Directors. Such shares may be convertible into Common Stock and may have rank superior to the Common Stock in the payment of dividends, liquidation rights, voting and other rights, preferences and privileges. Future shares of Preferred Stock may be issued by the Company without submitting a proposal regarding the issuance of such shares to a vote of holders of Common Stock. The Company in the future could issue Preferred Stock in a situation designed to discourage a tender offer. The Company has no present plans to issue any shares of Preferred Stock. | |
In January 2001, the Board of Directors authorized 250,000 shares of Series C preferred stock. Each share of Series C preferred stock is convertible at the option of the holder into four (4) shares of common stock. As of October 31, 2012, there were no shares of Series C preferred stock issued or outstanding. | |
Also in January 2001, the Board of Directors authorized 500,000 shares of Series D preferred stock each of which is convertible into two (2) shares of common stock at the option of the holder. There were no shares of Series D preferred stock issued or outstanding at October 31, 2012. | |
Voting Rights | |
Each share of the Company’s common stock and redeemable preferred stock is entitled to one vote per share. Shares of the Company’s Series C and Series D convertible preferred stock carry no voting rights. | |
Liquidation Preferences | |
In the event of liquidation or dissolution of the Company, the holders of the common stock and redeemable preferred stock shall be entitled to receive an equal amount per share, provided, however, in no instance shall a share of redeemable preferred stock receive more than $0.01 per share. | |
In any liquidation or dissolution of the Company, the holder of the Series C convertible preferred stock will be entitled to a liquidation preference of $4 per share. | |
In any liquidation or dissolution of the Company, the holder of the Series D convertible preferred stock will be entitled to a liquidation preference of $2 per share. |
Stock_Options_and_Warrants
Stock Options and Warrants | 12 Months Ended | ||||||||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||||||||
Stock Options And Warrants | ' | ||||||||||||||||||||||
Stock Options and Warrants | ' | ||||||||||||||||||||||
9. Stock Options and Warrants | |||||||||||||||||||||||
Common Stock Options | |||||||||||||||||||||||
On February 14, 2012 the Board of Directors authorized the formation of the 2012 Employee Benefit Plan which is authorized to grant up to 120,000 shares of common stock or options to purchase common stock to eligible employees, directors, officers, consultants or advisors. Eligibility is determined by the Board of Directors. During the fiscal year ended October 31, 2013, the Company issued 16,000 shares of common stock under the Benefit Plan to legal counsel for services rendered in the aggregate sum of $20,000. Under the 2012 Plan, there are still 44,500 options or shares available to be issued. See Note 8 – “Common Stock.” | |||||||||||||||||||||||
The following table summarizes information about options granted under the Company’s equity compensation plans and otherwise to employees, directors and consultants of the Company. Generally, options vest on an annual pro rata basis over various periods of time and are exercisable, upon proper notice, in whole or in part at any time upon vesting. Typically, unvested options terminate when an employee leaves the Company. The options granted have contractual lives ranging from three to ten years. | |||||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||||||||
Options | Average | Average | Intrinsic | ||||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||
Term | |||||||||||||||||||||||
(in years) | |||||||||||||||||||||||
Outstanding at October 31, 2011 | 6,000 | $ | 45 | 2.1 | $ | — | |||||||||||||||||
Granted | — | — | |||||||||||||||||||||
Exercised | — | — | |||||||||||||||||||||
Expired | (400 | ) | 80 | ||||||||||||||||||||
Canceled | — | — | |||||||||||||||||||||
Outstanding at October 31, 2012 | 5,600 | 40 | 1.2 | $ | — | ||||||||||||||||||
Granted | — | — | |||||||||||||||||||||
Exercised | — | — | |||||||||||||||||||||
Expired | (1,200 | ) | 145.83 | ||||||||||||||||||||
Canceled | — | — | |||||||||||||||||||||
Outstanding at October 31, 2013 | 4,400 | $ | 13.35 | 0.4 | $ | — | |||||||||||||||||
The values of the consideration received were based on the values of the options granted. The values of the options were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions for grants made in 2013 and 2012. | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
Risk-free interest rate | — | — | % | ||||||||||||||||||||
Expected dividend yield | — | — | |||||||||||||||||||||
Expected stock price volatility | — | — | |||||||||||||||||||||
Expected life in years | — | — | |||||||||||||||||||||
Summary information about the Company’s options outstanding at October 31, 2013 is set forth in the table below. Options outstanding at October 31, 2013 expire between February 2014 and January 2016. | |||||||||||||||||||||||
Range of | Options | Weighted | Weighted | Options | Weighted | ||||||||||||||||||
Exercise | Outstanding | Average | Average | Exercisable | Average | ||||||||||||||||||
Prices | October 31, 2013 | Remaining | Exercise Price | October 31, 2013 | Exercise | ||||||||||||||||||
Contractual Life | Price | ||||||||||||||||||||||
$ | 7.69 | 4,000 | 0.3 | $ | 7.69 | 4,000 | $ | 7.69 | |||||||||||||||
$ | 70 | 400 | 2.2 | $ | 70 | 400 | $ | 70 | |||||||||||||||
TOTAL: | 4,400 | 4,400 | |||||||||||||||||||||
There were no unvested stock options as of October 31, 2013. See also Note 14 – “Subsequent Events.” | |||||||||||||||||||||||
Common Stock Warrants | |||||||||||||||||||||||
The Company accounts for stock-based compensation awards to non-employees based upon fair values at the grant dates. The consideration received for the issuance of stock purchase warrants (“warrants”) is based on the fair value of the warrants or of the goods or services received for the warrants issued, whichever is more reliably measurable. | |||||||||||||||||||||||
When the value of the services is based on the fair value of the warrants, the value is calculated using the Black-Scholes Option Pricing Model. The fair value of the options or warrants is expensed as the services are provided. | |||||||||||||||||||||||
As of October 31, 2013, of 146,667 warrants outstanding at the end of fiscal year 2012, 66,667 warrants were surrendered and cancelled and 40,000 warrants were exercised. During the fiscal year ended October 31, 2013, the Company granted warrants as follows: | |||||||||||||||||||||||
On June 4, 2013, as partial consideration for his purchase of 50,000 shares of common stock for $25,000, a major stockholder received three-year warrants to purchase an additional 50,000 shares of common stock at $0.50 per share and another 100,000 shares of common stock at $1.00 per share. | |||||||||||||||||||||||
On August 7, 2013, the above major stockholder received a six-month warrant to purchase 10,000 shares of common stock at $1.00 per share as consideration for a $10,000 purchase of stock at $0.50 per share. | |||||||||||||||||||||||
On October 17, 2013, the Company issued six-month warrants to purchase an additional 10,000 shares of common stock to the same stockholder for $1.00 per share for a similar $10,000 purchase of common stock. | |||||||||||||||||||||||
On August 13, 2013, a major stockholder received six-month warrants to purchase 30,000 shares of common stock at $1.00 per share as partial consideration for a $30,000 purchase of common stock at $0.50 per share. | |||||||||||||||||||||||
The following table summarizes the information relating to warrants granted to non-employees as of October 31, 2013 and 2012 and changes during the years then ended. Warrants outstanding at October 31, 2013 expire between February 2014 and June 2016. | |||||||||||||||||||||||
See also Note 13 – “Subsequent Events.” | |||||||||||||||||||||||
Number of | Weighted | ||||||||||||||||||||||
Warrants | Average | ||||||||||||||||||||||
Exercise | |||||||||||||||||||||||
Price | |||||||||||||||||||||||
Outstanding at October 31, 2011 | 10,000 | $ | 5 | ||||||||||||||||||||
Granted | 413,334 | 1 | |||||||||||||||||||||
Exercised | — | — | |||||||||||||||||||||
Cancelled | (266,667 | ) | 1.5 | ||||||||||||||||||||
Expired | (10,000 | ) | 5 | ||||||||||||||||||||
Outstanding at October 31, 2012 | 146,667 | 1 | |||||||||||||||||||||
Granted | 200,000 | 0.88 | |||||||||||||||||||||
Exercised | (40,000 | ) | 1 | ||||||||||||||||||||
Cancelled | (66,667 | ) | 1.5 | ||||||||||||||||||||
Expired | — | — | |||||||||||||||||||||
Outstanding at October 31, 2013 | 240,000 | $ | 0.9 | ||||||||||||||||||||
The values of the consideration received were based on the values of the warrants granted. The values of the warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions for grants made in 2013 and 2012: | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
Risk-free interest rate | 0.71 | % | 0.72 | % | |||||||||||||||||||
Expected dividend yield | — | — | |||||||||||||||||||||
Expected stock price volatility | 1.42 | 1.89 | |||||||||||||||||||||
Expected life in years | 2.0 years | 1.7 years | |||||||||||||||||||||
Summary information about the Company’s warrants outstanding at October 31, 2013 is as follows: | |||||||||||||||||||||||
Range of | Warrants | Weighted | Weighted | Warrants | Weighted | ||||||||||||||||||
Exercise | October 31, 2013 | Average | Average | Exercisable | Average | ||||||||||||||||||
Prices | Remaining | Exercise | October 31, 2013 | Exercise | |||||||||||||||||||
Contractual | Price | Price | |||||||||||||||||||||
Life | |||||||||||||||||||||||
$0.50 | 50,000 | 2.6 | $ | 0.5 | 50,000 | $ | 0.5 | ||||||||||||||||
$1.00 | 190,000 | 1.8 | $ | 1 | 190,000 | $ | 1 | ||||||||||||||||
TOTAL: | 240,000 | 240,000 |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||
Oct. 31, 2013 | ||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||
Commitments and Contingencies | ' | |||||
10. Commitments and Contingencies | ||||||
Facilities Agreement | ||||||
In January 2006, the Company entered into a one-year agreement to lease a 4,100 sq. ft. facility in San Clemente, California at a rate of $3,650 per month commencing on April 1, 2006. The lease provides the Company with an option to extend the lease for additional one-year terms through March 31, 2012. The monthly lease payment increased to $3,895 commencing on April 1, 2008. The Company has signed an extension of the lease through March 2014 at the same monthly rate. | ||||||
Future minimum facilities lease payments as of October 31, 2013 are as follows: | ||||||
2014 | $ | 19,475 | ||||
2015 | $ | — | ||||
Employment Contracts | ||||||
Jeffrey Nunez | ||||||
On April 1, 2012, the Company entered into a one-year Consulting Agreement with Mr. Nunez which provides for compensation of $8,000 per month during the term of the agreement. On April 20, 2012, Mr. Nunez was appointed to the Board of Directors and named Chief Executive Officer of the Company. Effective October 1, 2012, the Board of Directors increased Mr. Nunez’ monthly compensation to $12,000. In October 2012, Mr. Nunez also received a bonus in the amount of $20,000 and 40,000 shares of the Company’s common stock valued at $78,300. | ||||||
Pursuant to the consulting arrangement, Mr. Nunez was entitled to a 5% “transaction fee” on all proceeds received by the Company during the term of the agreement, payable in common stock of the Company. Mr. Nunez received fees aggregating $60,000 pursuant to this provision on monies received through January 31, 2013, at which time this arrangement was terminated by mutual consent. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Oct. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
11. Related Party Transactions | |
See Notes 6, 8, 9, 10, and 13 for related party transactions. |
Employee_Retirement_Plan
Employee Retirement Plan | 12 Months Ended |
Oct. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Employee Retirement Plan | ' |
12. Employee Retirement Plan | |
Commencing on January 1, 2005, the Company sponsored a Simple IRA retirement plan which covers substantially all qualified full-time employees. Participation in the plan is voluntary, and employer contributions are determined on an annual basis. Currently employer contributions are being made at the rate of 3% of the employees’ base annual wages. No contributions to the IRA plan were made during fiscal 2012 or 2013. |
Subsequent_Events_Unaudited
Subsequent Events (Unaudited) | 12 Months Ended |
Oct. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
13. Subsequent Events (Unaudited) | |
On or about November 12, 2013, the Company was served with a Complaint brought in the Superior Court of Orange County, California by a vendor for non-payment of $9,894 in services performed. The Company has not contested the amount due and expects to negotiate a payment arrangement with the vendor in the near future. | |
On November 8, 2013 and on December 13, 2013, the Company issued 20,000 shares of common stock to a major stockholder for proceeds of $20,000, or $0.50 per share. The stockholder also received six-month warrants to purchase an additional 20,000 shares of common stock at $1.00 per share. | |
On November 13, 2013, the Company’s Chief Scientist, David Haavig, purchased 100,000 shares of common stock for $0.50 per share, or $50,000. | |
On December 19, 2013, a major stockholder purchased 20,000 shares of common stock for proceeds of $10,000, or $0.50 per share. He received six-month warrants to purchase an additional 10,000 shares of common stock at $1.00 per share as part of the purchase transaction. | |
On November 19, 2013, the Company established the 2014 Employee Benefit Plan (the “Plan”) which authorizes the issuance of up to 525,000 shares, or options underlying shares, to eligible employees, consultants or advisors of the Company. On November 19, 2013, the Board of Directors granted three-year options to purchase 100,000 and 125,000 shares of common stock under the Plan to the Company’s President, Jeffrey Nunez, at exercise prices of $0.50 and $1.00 per share, respectively. Additional three-year options to purchase 175,000 shares of common stock at $1.00 per share were also granted under the Plan to three other employees of the Company on November 19, 2013. | |
Between November 8, 2013 and January 29, 2014, Gregg Newhuis, a member of the Board of Directors, loaned the Company $34,000. The loans bear interest at the rate of 6% per annum and are payable on demand. | |
On January 9, 2014, the Company entered into a Securities Purchase Agreement and executed a Convertible Promissory Note with Asher Enterprises in the sum of $32,500. On or about January 29, 2014, the proceeds of the note, net of $2,500 in legal fees, were paid to the Company’s independent accounting firm. | |
On January 27, 2014, the Company issued 68,306 shares of common stock upon the conversion of $15,000 in convertible debentures held by Asher Enterprises at a conversion price of $0.2196 per share. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Oct. 31, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Principles of Consolidation | ' | ||
Principles of Consolidation | |||
The accompanying consolidated financial statements include the accounts of the Company and its subsidiary, Micro Imaging Technology (“MIT”). As of October 31, 2005, the operations of the Company’s subsidiaries, Electropure EDI, Inc. and Electropure Holdings, LLC, were discontinued and the Company became a development stage company. All significant intercompany balances and transactions have been eliminated in consolidation. | |||
Use of Estimates | ' | ||
Use of Estimates | |||
The preparation of financial statements in conformity with generally accepted accounting principles 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 date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual amounts could differ from those estimates. | |||
Changes in Capitalization and Reverse Stock Split | ' | ||
Changes in Capitalization and Reverse Stock Split | |||
On February 8, 2013, the Company amended its Articles of Incorporation and decreased the authorized number of shares of Common Stock from 2.5 billion to 25 million shares. At the same time, the Company underwent a five hundred-for-one (500:1) reverse stock split of its Common Stock and Redeemable Convertible Preferred Stock. For purposes of this Annual Report, all issuances of common stock and options or warrants to purchase common stock, if any, are reflected retroactively in post-reverse split amounts. As of October 31, 2013, the reverse split effected by the Company resulted in a reduction in capital stock and an increase in additional paid-in capital in the amount of $24,677,786. | |||
Cash and Cash Equivalents | ' | ||
Cash and Cash Equivalents | |||
For purposes of reporting within the statement of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents. | |||
Impairment of Long-Lived Assets | ' | ||
Impairment of Long-Lived Assets | |||
The Company annually evaluates its long-lived assets, including identifiable intangible assets for potential impairment. When circumstances indicate that the carrying amount of an asset is not recoverable, as demonstrated by the projected undiscounted cash flows, an impairment loss is recognized. The Company’s management has determined that there was no such impairment present at October 31, 2013 and 2012. | |||
Inventory | ' | ||
Inventory | |||
Inventory is stated at the lower of cost or market. Cost is determined on a first-in, first-out (FIFO) basis. The Company’s management monitors inventory for excess and obsolete items and makes necessary valuation corrections when such adjustments are required. | |||
Property and Equipment | ' | ||
Property and Equipment | |||
Property and equipment are recorded at cost and are depreciated using the straight-line method over an expected useful life of 3 or 5 years. The leasehold improvements made to the Company’s leased facility are being depreciated over an expected useful life of 5 years. Expenditures for normal maintenance and repairs are charged to operations. The cost and related accumulated depreciation of assets are removed from the accounts upon retirement or other disposition, and the resulting profit or loss is reflected in the Statement of Operations. Renewals and betterments that materially extend the life of the assets are capitalized. | |||
The production tooling for the Company’s revised MIT 1000 has been capitalized and the $14,000 cost is being amortized over an estimated useful life of 3 years. | |||
Software Costs | ' | ||
Software Costs | |||
The Company capitalized $35,313 in fiscal 2013 in the development of proprietary software for the MIT 1000 rapid microbial identification system. The cost of the software is being amortized on a straight-line basis over 3 years. | |||
Advertising Costs | ' | ||
Advertising Costs | |||
The Company charges advertising costs to expense as incurred. The Company incurred $17,123 and $ 25, 357 in advertising expense during the fiscal year ended October 31, 2013 and 2012 respectively. | |||
Accrued Payroll, Payroll Taxes and Benefits | ' | ||
Accrued Payroll, Payroll Taxes and Benefits | |||
From April 2010 through March 2012, payments made to two employees were recorded as reductions in accrued and unpaid payroll. In April 2012, the Company reclassified such payments as net payroll payments; calculated and recorded the employer and employee taxes that should have been withheld on such payment. Federal and state payroll tax returns have been filed for the last three quarters of 2010, all of 2011 and the first quarter of 2012. The Company recorded a total of $81,206 and $20,560 in federal and state payroll taxes due, respectively. Estimated federal penalties and interest on the late filings and payments, in the sum of $24,196, have been accrued as of October 31, 2013. On September 20, 2012 and May 14, 2013, the Internal Revenue Service filed a Notice of Federal Tax Lien against the Company assessing $58,858 and $13,605, respectively for unpaid taxes, penalties and interest. The Company is in contact with the Internal Revenue Service to work out a payment schedule for the amounts due. | |||
Estimated state penalties and interest of $4,316 on the above late filings were accrued. A Notice of Tax Lien for a portion of the taxes due was filed by the State of California on November 9, 2012 in the amount of $8,206, including penalty and interest. In October 2013, the California tax authority levied the Company’s account in the sum of $13,807 with an additional levy of $5,451 in November 2013. On December 17, 2013, the Company entered into an installment agreement with the California tax authority to pay $304 per month commencing January 27, 2014 until the remaining balance due has been satisfied. | |||
Accrued Payroll and Benefits consist of the above payroll taxes, salaries, wages, and vacation benefits earned by employees, but not disbursed as of October 31, 2013 and includes payroll earned, but unpaid to various employees between January 16, 2013 and October 31, 2013. Accrued Payroll also includes the above estimated penalties and interest due on such unpaid payroll taxes. Liability for vacation benefits is accrued when earned monthly and reduced when taken. At the end of each fiscal period, the balance in the accrued vacation benefits liability account is adjusted to reflect current pay rates. Annual leave earned but not taken is considered an unfunded liability since this leave will be funded from future appropriations when it is actually taken by employees. | |||
Concentration of Credit Risk and Other Risks and Uncertainties | ' | ||
Concentration of Credit Risk and Other Risks and Uncertainties | |||
Accounts Payable – Trade | |||
As of October 31, 2013, the amount due to a former consultant to the Company, $112,000, represented 33% of the total amount due for accounts payable to non-affiliates. As of October 31, 2013, the Company owed its current independent accounting firm $33,500, which represents 10% of the total amount due for accounts payable. An additional 19% of accounts payable, or $64,952, is due legal counsel in the Alpine MIT Partners litigation in Texas. The Company also owes local counsel $34,749 in accrued fees as of October 31, 2013, which represents 10% of the total amount due for accounts payable. | |||
Litigation and Claims | |||
Alpine MIT Partners | |||
On May 16, 2012, Alpine MIT Partners, LLC (Plaintiffs) filed a civil action against the Company and its Chairman and Chief Executive Officer, Jeffrey G. Nunez, (collectively, the Company), in the Texas District Court, Travis County. Plaintiffs alleged breach of contract and civil conspiracy, as well as tortious interference with contractual relations and prospective business relations. The lawsuit alleges that the Company breached certain provisions of a March 7, 2012 Securities Purchase Agreement the Company executed with the Plaintiff to sell up to $2.0 million of 7% Senior Secured five-year Convertible Debentures convertible into shares of common stock at a conversion rate of $.003 per share. The purchase and sale of the first $1.0 million Debenture was scheduled to close on or before April 6, 2012 and was subject to, among other things, Alpine closing the necessary equity funding to consummate the transactions. No money was ever received by the Company from Alpine. At a March 7, 2013 hearing, the Texas court upheld the Company’s argument and dismissed the complaint against the Company for lack of jurisdiction. | |||
In August, 2013, Alpine filed an amended Complaint against Jeffrey Nunez in the Texas case alleging tortuous interference and conspiracy to terminate the March 7, 2012 Securities Purchase Agreement. Mr. Nunez believes that the allegations of the lawsuit against him have no merit and intends to vigorously defend the matter. | |||
On January 10, 2013, the Company learned that Plaintiffs had filed a lien against the Company’s patents on May 8, 2012 with the California Secretary of State under the Uniform Commercial Code. On or about January 29, 2013, the Company filed suit against Alpine MIT Partners, LLC in the Orange County, California Superior Court alleging, among other claims, that the UCC filing is unauthorized. The lawsuit also names the managing director and managing member of Alpine as Defendants and alleges that they made false promises, intentional misrepresentations and breached the contract which is the subject of the Texas suit. The Company is seeking damages of $1.6 million. This lawsuit is currently in the discovery phase. | |||
Michael W. Brennan | |||
Concurrent with his April 13, 2012 resignation as Chairman of the Board of Directors and Chief Executive Officer, the Company agreed to repay a total of $160,000 in principal loans, $24,339 in accrued interest and $13,120 in unpaid fees and expenses due Michael Brennan over a 25-month payment schedule commencing May 1, 2012. Due to lack of funds, the Company has not made payments due Mr. Brennan since February 2013, each in the amount of $7,500. As of October 31, 2013, the principal balance due under the agreement amounted to $114,450 and, although Mr. Brennan originally waived interest on the note, the Company has accrued $11,750 in interest on that amount as of October 31, 2013. | |||
On or about October 4, 2013, Mr. Brennan filed a lawsuit in the California Superior Court of Los Angeles for breach of contract for failure to pay monies due him under the above 2012 agreement. The lawsuit seeks $123,509 in principal damages, plus interest, costs and attorney fees. The Company has filed an answer to the complaint and is contesting the amount due Mr. Brennan. This lawsuit is currently in the discovery phase. | |||
See also Item 13 – “Subsequent Events.” | |||
In accordance with accounting standards regarding loss contingencies, the Company accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated, and the Company discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for its financial statements not to be misleading. The Company does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated, or when the liability is believed to be only reasonably possible or remote. | |||
Because litigation outcomes are inherently unpredictable, the Company’s evaluation of legal proceedings often involves a series of complex assessments by management about future events and can rely heavily on estimates and assumptions. If the assessments indicate that loss contingencies that could be material to any one of its financial statements are not probable, but are reasonably possible, or are probable, but cannot be estimated, then the Company discloses the nature of the loss contingencies, together with an estimate of the range of possible loss or a statement that such loss is not reasonably estimable. While the consequences of certain unresolved proceedings are not presently determinable, and an estimate of the probable and reasonably possible loss or range of loss in excess of amounts accrued for such proceedings cannot be reasonably made, an adverse outcome from such proceedings could have a material adverse effect on its financial statements in any given reporting period. However, in the opinion of Management, after consulting with legal counsel, the ultimate liability related to the current outstanding litigation is not expected to have a material adverse effect on its financial statements. | |||
Management is of the opinion that the ultimate resolution of such matters now pending will not have a material adverse effect on the Company’s consolidated results of operations, financial position or cash flows. However, the outcome of legal proceedings cannot be predicted with any degree of certainty. | |||
Antidilution Liability | ' | ||
Antidilution Liability | |||
The Company has recorded a $23,358 liability to allow for the possible dilutive impact of equity issuances that alter or effect conversion or exchange rates existing on the various dates of conversion or exercise of securities having adjustable conversion rates. The liability is adjusted to reflect current fair market value at the end of each fiscal period. Due to decline in the Company;s stock price, we recorded a gain of $42,043 at October 31, 2013. | |||
Research and Development | ' | ||
Research and Development | |||
Research and development expenditures are charged to expense as they are incurred. The Company’s research and development activities include ongoing work on various uses of the micro imaging multi-angle laser light scattering technology. Contract research and development expenditures are expensed as incurred. | |||
Stock Based Compensation | ' | ||
Stock Based Compensation | |||
The Company measures share based compensation at the grant date, based on the fair value of the award using the Black-Scholes Option Pricing Model, and recognizes such compensation as an expense over the employee’s requisite service period (generally the vesting period of the equity grant). | |||
The Company recognized no share-based compensation expense during the fiscal years ended October 31, 2013 and 2012. | |||
Activity under the Company’s stock option plans is included in Note 9. | |||
Income Taxes | ' | ||
Income Taxes | |||
The Company accounts for income taxes under the liability method. Under the liability method, deferred income taxes are determined based on differences between the financial reporting and tax bases of assets and liabilities. They are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company is required to adjust its deferred tax liabilities in the period when tax rates or the provisions of the income tax laws change. Valuation allowances are established to reduce deferred tax assets to the amounts expected to be realized. | |||
The Company has not yet completed its state and federal corporate income tax returns for the fiscal year ended October 31, 2012, which were due to be filed (with an extension), by July 15, 2013. Neither has the Company paid the $1,600 state income tax due for fiscal 2012 or the estimated tax of $1,600 due to the state for the fiscal year ended October 31, 2013. The Company has accrued $1,150 as of October 31, 2013 as penalties and interest related to these late payments and filings. | |||
Loss Per Share | ' | ||
Loss Per Share | |||
Basic earnings (loss) per share excludes dilution and is calculated by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then share in the earnings (loss) of the entity. Common stock equivalents of 872,363 and 254,877 as of October 31, 2013 and 2012, respectively, have been omitted from the earnings (loss) per share calculation, as their effect would be antidilutive. | |||
New Accounting Pronouncements | ' | ||
New Accounting Pronouncements | |||
On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements. | |||
On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following: | |||
● | The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors. | ||
● | Any additional amounts the reporting entity expects to pay on behalf of its co-obligors. | ||
While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position. | |||
On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position. | |||
On July 18, 2013, the FASB issued ASU 2013-11, which provides guidance on financial statement presentation of an unrecognized tax benefit2 when a net operating loss (NOL) carryforward, a similar tax loss, or a tax credit carryforward exists. The FASB’s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP. This ASU applies to all entities with unrecognized tax benefits that also have tax loss or tax credit carryforwards in the same tax jurisdiction as of the reporting date. Under the ASU, an entity must present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for an NOL carryforward, a similar tax loss, or a tax credit carryforward except when: | |||
● | An NOL carryforward, a similar tax loss, or a tax credit carryforward is not available as of the reporting date under the governing tax law to settle taxes that would result from the disallowance of the tax position. | ||
● | The entity does not intend to use the deferred tax asset for this purpose (provided that the tax law permits a choice). | ||
If either of these conditions exists, an entity should present an unrecognized tax benefit in the financial statements as a liability and should not net the unrecognized tax benefit with a deferred tax asset. | |||
ASU 2013-11 is effective for public entities for fiscal years beginning after December 15, 2013, and interim periods within those years. The adoption of ASU 2013-11 is not expected to have a material effect on the Company’s operating results or financial position. | |||
There were various other updates recently issued, many of which represented technical corrections to the accounting literature or application to specific industries. N one of the updates are expected to a have a material impact on our consolidated financial position, results of operations or cash flows. |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Schedule of Property Plant and Equipment | ' | ||||||||
At October 31, property, plant and equipment consisted of the following: | |||||||||
2013 | 2012 | ||||||||
Machinery and equipment | $ | 235,504 | $ | 229,100 | |||||
Furniture and fixtures | 74,326 | 74,326 | |||||||
Leasehold improvements | 77,779 | 77,779 | |||||||
Production molding | 14,000 | 14,000 | |||||||
Software | 35,313 | - | |||||||
436,922 | 395,205 | ||||||||
Less: accumulated depreciation | (325,352 | ) | (272,164 | ) | |||||
Total property and equipment, net | $ | 111,570 | $ | 123,041 |
Convertible_Debentures_Tables
Convertible Debentures (Tables) | 12 Months Ended | ||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||
Convertible Notes Payable [Abstract] | ' | ||||||||||||||||
Schedule of Fair Value of Financial Instruments Liabilities | ' | ||||||||||||||||
The following table sets forth, by level within the fair value hierarchy, our financial instrument liabilities as of October 31, 2013 (See also Note 6 – Convertible Debentures – “Series 1 Notes”): | |||||||||||||||||
Quoted | Significant | Significant | Total | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active Markets For Identical Assets | Observable | Inputs | |||||||||||||||
Inputs | |||||||||||||||||
(Level 3) | (Level 3) | (Level 3) | |||||||||||||||
Derivative liability | $ | — | $ | — | $ | 75,557 | $ | 75,557 | |||||||||
Total | $ | — | $ | — | $ | 75,557 | $ | 75,557 | |||||||||
Summary of Changes in Fair Value of Level 3 Financial Instrument Liability | ' | ||||||||||||||||
The following table sets forth a summary of changes in the fair value of our Level 3 financial instrument liability for the fiscal years ended October 31, 2012 and 2013: | |||||||||||||||||
Fair Value | |||||||||||||||||
Measurements | |||||||||||||||||
Using | |||||||||||||||||
Significant | |||||||||||||||||
Unobservable | |||||||||||||||||
Inputs | |||||||||||||||||
(Level 3) | |||||||||||||||||
Balance October 31, 2012 | $ | - | |||||||||||||||
Additions | 84,310 | ||||||||||||||||
Net gain included in earnings | (8,753 | ) | |||||||||||||||
Settlements | - | ||||||||||||||||
Balance October 31, 2013 | $ | 75,557 | |||||||||||||||
Summary of Convertible Debentures and Series 1 Notes | ' | ||||||||||||||||
At October 31, 2013 and 2012, without taking into effect any unamortized discounts, convertible debentures and Series 1 notes consisted of the following: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Series 1 Notes, principal and interest at 8% maturing through May 25, 2012. | $ | 85,000 | $ | — | |||||||||||||
Convertible note payable to stockholder; principal and interest at 10% due on May 31, 2012. | $ | 64,868 | $ | 64,868 | |||||||||||||
Convertible notes payable to various stockholders; principal and interest at 6% due on August 1, 2012 and December 31, 2012. | $ | — | $ | 12,500 | |||||||||||||
149,868 | 77,368 | ||||||||||||||||
Less current maturities | $ | 149,868 | $ | 77,368 | |||||||||||||
Long term portion of Convertible and Series 1 notes payable | $ | — | $ | — | |||||||||||||
Schedule of Remaining Outstanding Notes Maturity | ' | ||||||||||||||||
Of the above notes, $64,868 is currently due and payable. The Company’s outstanding notes mature as follows for the years ending October 31: | |||||||||||||||||
2014 | $ | 85,000 | |||||||||||||||
Thereafter | — | ||||||||||||||||
$ | 85,000 |
Notes_Payable_to_an_Officer_an1
Notes Payable to an Officer and Stockholder (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Schedule of Maturities of Notes Payable | ' | ||||||||
Of the above notes, $64,868 is currently due and payable. The Company’s outstanding notes mature as follows for the years ending October 31: | |||||||||
2014 | $ | 85,000 | |||||||
Thereafter | — | ||||||||
$ | 85,000 | ||||||||
Officer And Stockholders [Member] | ' | ||||||||
Schedule of Unamortized Discounts, Notes Payable to Officers and Stockholders | ' | ||||||||
At October 31, 2012 and 2011, without taking into effect any unamortized discounts, notes payable to an officer and to stockholders consisted of the following: | |||||||||
2013 | 2012 | ||||||||
Unsecured, interest-free convertible notes payable to former officer/director of the Company; principal due on payment schedule through May 2014. | $ | 113,450 | $ | 136,950 | |||||
Unsecured notes payable to officers/directors of the Company; principal and interest at 6% due on demand. | $ | 36,000 | $ | — | |||||
Unsecured convertible note payable to various stockholders; principal and interest at 6% due between December 9, 2010 and March 31, 2013. | $ | 52,000 | $ | 52,000 | |||||
201,450 | 188,950 | ||||||||
Less current maturities | $ | 201,450 | $ | 142,844 | |||||
Long term portion of notes payable | $ | — | $ | 46,106 | |||||
Schedule of Maturities of Notes Payable | ' | ||||||||
The Company’s outstanding notes mature as follows for the years ending: | |||||||||
2014 | $ | 201,450 | |||||||
Thereafter | — | ||||||||
$ | 201,450 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Oct. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Components of Income Tax Expense | ' | ||||||||
At October 31, the components of the income tax expense are as follows: | |||||||||
2013 | 2012 | ||||||||
Current tax expense: | |||||||||
Federal | $ | — | $ | — | |||||
State | 1,600 | 1,600 | |||||||
Total corporate tax expense | 1,600 | 1,600 | |||||||
Deferred tax expenses: | |||||||||
Federal | — | — | |||||||
State | — | — | |||||||
— | — | ||||||||
Total provision: | $ | 1,600 | $ | 1,600 | |||||
Schedule of Net Deferred Tax Assets and Liabilities During Period | ' | ||||||||
Significant components of the Company’s net deferred income tax assets/ (liabilities) at October 31, 2013 were as follows: | |||||||||
Current deferred tax assets: | |||||||||
Accrued vacation | $ | — | |||||||
Book compensation for options and warrants | — | ||||||||
Other | — | ||||||||
Total current deferred tax assets | — | ||||||||
Valuation allowance | — | ||||||||
Net deferred current tax assets | $ | — | |||||||
Noncurrent deferred tax assets: | |||||||||
Net operating loss carryforward | $ | 10,782,000 | |||||||
Other credit carryforward | 165,000 | ||||||||
Depreciation and amortization | — | ||||||||
Total noncurrent deferred tax assets | 10,947,000 | ||||||||
Valuation allowance | (10,947,000 | ) | |||||||
Net deferred noncurrent tax assets | — | ||||||||
Total deferred tax assets | $ | — | |||||||
Schedule of Effective Income Tax Rate Reconciliation of U.S Statutory Income Tax Rate | ' | ||||||||
Reconciliation of the effective income tax rate to the U.S. statutory income tax rate is as follows: | |||||||||
2013 | 2012 | ||||||||
Tax expense at U.S. statutory income tax rate | (34.0 | )% | (34.0 | )% | |||||
State tax | (5.8 | )% | (5.8 | )% | |||||
Utilization of net operating loss | 0 | % | 0 | % | |||||
Change in beginning balance of valuation allowance | 39.8 | % | 39.8 | % | |||||
Effective income tax rate | — | % | — | % |
Stock_Options_and_Warrants_Tab
Stock Options and Warrants (Tables) | 12 Months Ended | ||||||||||||||||||||||
Oct. 31, 2013 | |||||||||||||||||||||||
Stock Options And Warrants | ' | ||||||||||||||||||||||
Summary of Stock Options Granted | ' | ||||||||||||||||||||||
The options granted have contractual lives ranging from three to ten years. | |||||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||||||||
Options | Average | Average | Intrinsic | ||||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||
Term | |||||||||||||||||||||||
(in years) | |||||||||||||||||||||||
Outstanding at October 31, 2011 | 6,000 | $ | 45 | 2.1 | $ | — | |||||||||||||||||
Granted | — | — | |||||||||||||||||||||
Exercised | — | — | |||||||||||||||||||||
Expired | (400 | ) | 80 | ||||||||||||||||||||
Canceled | — | — | |||||||||||||||||||||
Outstanding at October 31, 2012 | 5,600 | 40 | 1.2 | $ | — | ||||||||||||||||||
Granted | — | — | |||||||||||||||||||||
Exercised | — | — | |||||||||||||||||||||
Expired | (1,200 | ) | 145.83 | ||||||||||||||||||||
Canceled | — | — | |||||||||||||||||||||
Outstanding at October 31, 2013 | 4,400 | $ | 13.35 | 0.4 | $ | — | |||||||||||||||||
weighted Average Assumptions for Grants | ' | ||||||||||||||||||||||
The values of the options were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions for grants made in 2013 and 2012. | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
Risk-free interest rate | — | — | % | ||||||||||||||||||||
Expected dividend yield | — | — | |||||||||||||||||||||
Expected stock price volatility | — | — | |||||||||||||||||||||
Expected life in years | — | — | |||||||||||||||||||||
Summary of Options Outstanding | ' | ||||||||||||||||||||||
Summary information about the Company’s options outstanding at October 31, 2013 is set forth in the table below. Options outstanding at October 31, 2013 expire between February 2014 and January 2016. | |||||||||||||||||||||||
Range of | Options | Weighted | Weighted | Options | Weighted | ||||||||||||||||||
Exercise | Outstanding | Average | Average | Exercisable | Average | ||||||||||||||||||
Prices | October 31, 2013 | Remaining | Exercise Price | October 31, 2013 | Exercise | ||||||||||||||||||
Contractual Life | Price | ||||||||||||||||||||||
$ | 7.69 | 4,000 | 0.3 | $ | 7.69 | 4,000 | $ | 7.69 | |||||||||||||||
$ | 70 | 400 | 2.2 | $ | 70 | 400 | $ | 70 | |||||||||||||||
TOTAL: | 4,400 | 4,400 | |||||||||||||||||||||
Summary of Warrants Granted to Non-Employees | ' | ||||||||||||||||||||||
The following table summarizes the information relating to warrants granted to non-employees as of October 31, 2013 and 2012 and changes during the years then ended. Warrants outstanding at October 31, 2013 expire between February 2014 and June 2016. | |||||||||||||||||||||||
Number of | Weighted | ||||||||||||||||||||||
Warrants | Average | ||||||||||||||||||||||
Exercise | |||||||||||||||||||||||
Price | |||||||||||||||||||||||
Outstanding at October 31, 2011 | 10,000 | $ | 5 | ||||||||||||||||||||
Granted | 413,334 | 1 | |||||||||||||||||||||
Exercised | — | — | |||||||||||||||||||||
Cancelled | (266,667 | ) | 1.5 | ||||||||||||||||||||
Expired | (10,000 | ) | 5 | ||||||||||||||||||||
Outstanding at October 31, 2012 | 146,667 | 1 | |||||||||||||||||||||
Granted | 200,000 | 0.88 | |||||||||||||||||||||
Exercised | (40,000 | ) | 1 | ||||||||||||||||||||
Cancelled | (66,667 | ) | 1.5 | ||||||||||||||||||||
Expired | — | — | |||||||||||||||||||||
Outstanding at October 31, 2013 | 240,000 | $ | 0.9 | ||||||||||||||||||||
Weighted Average Assumptions for Grants, Warrants | ' | ||||||||||||||||||||||
The values of the warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions for grants made in 2013 and 2012: | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
Risk-free interest rate | 0.71 | % | 0.72 | % | |||||||||||||||||||
Expected dividend yield | — | — | |||||||||||||||||||||
Expected stock price volatility | 1.42 | 1.89 | |||||||||||||||||||||
Expected life in years | 2.0 years | 1.7 years | |||||||||||||||||||||
Summary of Warrants Outstanding | ' | ||||||||||||||||||||||
Summary information about the Company’s warrants outstanding at October 31, 2013 is as follows: | |||||||||||||||||||||||
Range of | Warrants | Weighted | Weighted | Warrants | Weighted | ||||||||||||||||||
Exercise | October 31, 2013 | Average | Average | Exercisable | Average | ||||||||||||||||||
Prices | Remaining | Exercise | October 31, 2013 | Exercise | |||||||||||||||||||
Contractual | Price | Price | |||||||||||||||||||||
Life | |||||||||||||||||||||||
$0.50 | 50,000 | 2.6 | $ | 0.5 | 50,000 | $ | 0.5 | ||||||||||||||||
$1.00 | 190,000 | 1.8 | $ | 1 | 190,000 | $ | 1 | ||||||||||||||||
TOTAL: | 240,000 | 240,000 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||
Oct. 31, 2013 | ||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||
Schedule of Future Minimum Facilities Lease Payments | ' | |||||
Future minimum facilities lease payments as of October 31, 2013 are as follows: | ||||||
2014 | $ | 19,475 | ||||
2015 | $ | — |
Description_of_Business_and_De1
Description of Business and Development Stage Company (Details Narrative) | Oct. 31, 2013 |
Accounting Policies [Abstract] | ' |
Percentage of interest owned by the company | 81.00% |
Basis_of_Presentation_Details_
Basis of Presentation (Details Narrative) (USD $) | 12 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Basis Of Presentation | ' | ' |
Net loss | $998,350 | $1,249,491 |
Accumulated deficit | $46,409,831 | ' |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details Narrative) (USD $) | 0 Months Ended | 12 Months Ended | 24 Months Ended | 96 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
14-May-13 | Nov. 09, 2012 | Sep. 20, 2012 | Apr. 06, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2012 | Mar. 31, 2012 | Oct. 31, 2013 | 16-May-12 | Oct. 04, 2013 | Dec. 31, 2013 | Feb. 01, 2013 | Apr. 12, 2012 | Oct. 31, 2013 | Oct. 31, 2013 | Feb. 08, 2013 | Sep. 14, 2012 | Oct. 31, 2013 | Feb. 08, 2014 | Sep. 14, 2012 | |
Michael W. Brennan [Member] | Michael W. Brennan [Member] | Michael W. Brennan [Member] | Michael W. Brennan [Member] | Leasehold Improvements [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||
Decrease number of common shares | ' | ' | ' | ' | 25,000,000 | 25,000,000 | 25,000,000 | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | 250,000,000 | ' |
Reverse stock split | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
five hundred-for-one (500:1) reverse stock split of its Common Stock and Redeemable Convertible Preferred Stock | |||||||||||||||||||||
Increase in additional paid-in capital due to stock split | ' | ' | ' | ' | $24,677,786 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment expected useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '3 years | ' | ' | '5 years | ' | ' |
Amortization of property and equipment during estimated useful life | ' | ' | ' | ' | 14,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of computer equipment | ' | ' | ' | ' | 35,313 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising expense | ' | ' | ' | ' | 17,123 | 25,357 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal payroll tax | ' | ' | ' | ' | ' | ' | ' | 81,206 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State payroll tax | ' | ' | ' | ' | 1,600 | ' | 1,600 | 20,560 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated penalties and interest on late filings and payments | ' | ' | ' | ' | 24,196 | ' | ' | ' | 24,196 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unpaid taxes, penalties and interest | 13,605 | ' | 58,858 | ' | 4,316 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of tax filed by State of California | ' | 8,206 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notification of levy charges | ' | ' | ' | ' | 13,807 | ' | ' | ' | 13,807 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Notification of levy charges | ' | ' | ' | ' | 5,451 | ' | ' | ' | 5,451 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of agreement amount | ' | ' | ' | ' | 304 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount due to former consultant | ' | ' | ' | ' | 112,000 | ' | ' | ' | 112,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of amount due for accounts payable to non-affiliates | ' | ' | ' | ' | 33.00% | ' | ' | ' | 33.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company owes its current independent accouting firm | ' | ' | ' | ' | 33,500 | ' | ' | ' | 33,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of accounts payable | ' | ' | ' | ' | 10.00% | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding Litigation Fees Payable | ' | ' | ' | ' | 64,952 | ' | ' | ' | 64,952 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued fees | ' | ' | ' | ' | 34,749 | ' | ' | ' | 34,749 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior secure convertible debentures | ' | ' | ' | ' | 149,868 | 77,368 | 77,368 | ' | 149,868 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of seior secured convertible debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
conversion rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | ' | $1.95 |
Purchase and sale of debenture | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Damages seeking from plaintiff | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreed to repay principle loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114,450 | 7,500 | 160,000 | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,750 | ' | 24,339 | ' | ' | ' | ' | ' | ' | ' |
Unpaid fees and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,120 | ' | ' | ' | ' | ' | ' | ' |
Law suit seeks principal damages, plus interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 123,509 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Anti-dilution liability | ' | ' | ' | ' | 23,358 | 65,401 | 65,401 | ' | 23,358 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on decline of stock price | ' | ' | ' | ' | 42,043 | ' | ' | ' | 42,043 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued tax amount | ' | ' | ' | ' | $1,150 | ' | ' | ' | $1,150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive common stock equivalents shares excluded from computation of earnings or loss per share | ' | ' | ' | ' | 872,363 | 254,877 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details Narrative) (USD $) | 12 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Property, Plant and Equipment [Abstract] | ' | ' |
Depreciation and amortization expenses | $53,188 | $35,925 |
Property_Plant_and_Equipment_S
Property, Plant and Equipment - Schedule of Property Plant and Equipment (Details) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Dec. 31, 2012 |
Machinery And Equipment [Member] | Machinery And Equipment [Member] | Furniture And Fixtures [Member] | Furniture And Fixtures [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Production Molding [Member] | Production Molding [Member] | Software [Member] | Software [Member] | |||
Property and equipment, gross | $436,922 | $395,205 | $235,504 | $229,100 | $74,326 | $74,326 | $77,779 | $77,779 | $14,000 | $14,000 | $35,313 | ' |
Less: accumulated depreciation | -325,352 | -272,164 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total property and equipment, net | $111,570 | $123,041 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible_Debentures_Details
Convertible Debentures (Details Narrative) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
Jul. 18, 2013 | Sep. 14, 2012 | Nov. 10, 2010 | Oct. 31, 2013 | Oct. 31, 2012 | 16-May-12 | Feb. 21, 2012 | Oct. 31, 2013 | Jun. 15, 2013 | Sep. 30, 2011 | Nov. 27, 2009 | Oct. 31, 2013 | Oct. 31, 2013 | Sep. 14, 2012 | Sep. 14, 2012 | |
Unaffiliated Lender [Member] | Unaffiliated Lender [Member] | Unaffiliated Lender [Member] | Unaffiliated Lender [Member] | Series I Notes [Member] | Other Convertible Notes [Member] | Minimum [Member] | Maximum [Member] | ||||||||
Borrowed from related parties | ' | ' | $64,868 | $64,868 | ' | ' | ' | ' | ' | ' | $25,000 | ' | ' | ' | ' |
Aggregate principal amount of convertible notes | ' | ' | ' | ' | ' | ' | 387,500 | ' | 12,500 | 12,500 | ' | ' | ' | ' | ' |
Percentage of convertible notes interest rate | ' | ' | 10.00% | ' | ' | ' | 8.00% | ' | ' | 6.00% | ' | ' | ' | ' | ' |
Principal amount of debt | 42,500 | 387,500 | ' | ' | ' | ' | ' | ' | ' | 12,500 | ' | ' | ' | ' | ' |
Principal amount of outstanding notes increased | ' | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal penalties | ' | 15,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock on conversion | ' | 663,219 | ' | ' | ' | ' | ' | ' | 23,998 | 17,084 | ' | ' | ' | ' | ' |
Conversion price per share | ' | ' | ' | ' | ' | $0.00 | ' | ' | $0.57 | ' | ' | ' | ' | $0.20 | $1.95 |
Payment for legal expenses | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock reserve by transfer agent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | ' | ' |
Aggregate shares of common stock | ' | ' | ' | ' | 315,500 | ' | ' | ' | ' | ' | ' | 348,360 | 279,603 | ' | ' |
Value exceeds the principal balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,180 | 74,934 | ' | ' |
Percentage of discount on price of common stock | 39.00% | ' | 42.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative liabilities | ' | ' | ' | 75,557 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.31 | ' | ' | ' |
Common share price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | ' | ' | ' |
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' |
Volatility rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 138.00% | ' | ' | ' |
Intrinsic value of conversion feature | ' | ' | ' | 46,973 | ' | ' | ' | 10,507 | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | 19,300 | ' | ' | ' | ' | 1,299 | 2,876 | ' | ' | ' | ' | ' |
Maturity date of debt | 22-Apr-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other expenses relating to debt | ' | ' | ' | ' | ' | ' | ' | $3,202 | ' | ' | ' | ' | ' | ' | ' |
Convertible_Debentures_Schedul
Convertible Debentures - Schedule of Fair Value of Financial Instruments Liabilities (Details) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
Derivative liability | $75,557 | ' |
Total | 201,450 | 142,000 |
Quoted Prices in Active Markets For Identical Assets (Level 3) [Member] | ' | ' |
Derivative liability | ' | ' |
Total | ' | ' |
Significant Other Observable Inputs (Level 3) [Member] | ' | ' |
Derivative liability | ' | ' |
Total | ' | ' |
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Derivative liability | 75,557 | ' |
Total | $75,557 | ' |
Convertible_Debentures_Summary
Convertible Debentures - Summary of Changes in Fair Value of Level 3 Financial Instrument Liability (Details) (Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Member], USD $) | 12 Months Ended |
Oct. 31, 2013 | |
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Member] | ' |
Balance October 31, 2012 | ' |
Additions | 84,310 |
Net gain included in earnings | -8,753 |
Settlements | ' |
Balance July 31, 2013 | $75,557 |
Convertible_Debentures_Schedul1
Convertible Debentures - Schedule of Convertible Debentures (Details) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 | 16-May-12 |
Convertible notes payable | $149,868 | $77,368 | ' |
Less current maturities | 149,868 | 77,368 | 2,000,000 |
Long term portion of Convertible and Series 1 notes payable | ' | ' | ' |
Series 1 Note, Principal and Interest at 8% Maturing on May 25, 2012 [Member] | ' | ' | ' |
Convertible notes payable | 85,000 | ' | ' |
Convertible Note Payable at 10% Due on May 31, 2012 [Member] | ' | ' | ' |
Convertible notes payable | 64,868 | 64,868 | ' |
Convertible Notes Payable at 6% Maturing on August 1, 2012 and December 31, 2012 [Member] | ' | ' | ' |
Convertible notes payable | ' | $12,500 | ' |
Convertible_Debentures_Schedul2
Convertible Debentures - Schedule of Convertible Debentures (Details) (Parenthetical) | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
Jul. 18, 2013 | Feb. 21, 2012 | Nov. 10, 2010 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | |
Series 1 Note, Principal and Interest at 8% Maturing on May 25, 2012 [Member] | Series 1 Note, Principal and Interest at 8% Maturing on May 25, 2012 [Member] | Convertible Note Payable at 10% Due on May 31, 2012 [Member] | Convertible Note Payable at 10% Due on May 31, 2012 [Member] | Convertible Notes Payable at 6% Maturing on August 1, 2012 and December 31, 2012 [Member] | Convertible Notes Payable at 6% Maturing on August 1, 2012 and December 31, 2012 [Member] | Series 1 Note, Principal and Interest at 8% Maturing on May 25, 2012 [Member] | Series 1 Note, Principal and Interest at 8% Maturing on May 25, 2012 [Member] | Convertible Notes Payable at 6% Maturing on December 31, 2012 [Member] | Convertible Notes Payable at 6% Maturing on December 31, 2012 [Member] | ||||
Convertible notes payable, interest rate | ' | 8.00% | 10.00% | 8.00% | 8.00% | 10.00% | 10.00% | 6.00% | 6.00% | ' | ' | ' | ' |
Convertible notes payable, maturity date | 22-Apr-14 | ' | ' | ' | ' | 31-May-12 | 31-May-12 | ' | ' | 25-May-14 | 25-May-14 | 1-Aug-12 | 31-Dec-12 |
Convertible_Debentures_Schedul3
Convertible Debentures - Schedule of Remaining Outstanding Notes Maturity (Details) (USD $) | Oct. 31, 2013 |
Convertible Notes Payable [Abstract] | ' |
2014 | $85,000 |
Thereafter | ' |
Total | $85,000 |
Notes_Payable_to_an_Officer_an2
Notes Payable to an Officer and Stockholder (Details Narrative) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
Notes payable gross | $201,450 | $188,950 |
Officer And Director [Member] | ' | ' |
Notes payable gross | 113,450 | ' |
Various Stockholders [Member] | ' | ' |
Notes payable gross | $52,000 | ' |
Notes_Payable_to_an_Officer_an3
Notes Payable to an Officer and Stockholder - Schedule of Unamortized Discounts, Notes Payable to Officers and Stockholders (Details) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
Notes payable gross | $201,450 | $188,950 |
Less current maturities | 201,450 | 142,000 |
Long term portion of notes payable | ' | 46,106 |
Unsecured, Interest-Free Convertible Notes Payable To Former Officer/Director Of The Company; Principal Due On Payment Schedule Through May 2014 [Member] | ' | ' |
Notes payable gross | 113,450 | 136,950 |
Unsecured Notes Payable To Officers/Directors Of The Company; Principal Nad Interest At 6% Due On Demand [Member] | ' | ' |
Notes payable gross | 36,000 | ' |
Unsecured Convertible Note Payable To Various Stockholders; Principal And Interest At 6% Due Between December 9, 2010 And March 31, 2011 [Member] | ' | ' |
Notes payable gross | $52,000 | $52,000 |
Notes_Payable_to_an_Officer_an4
Notes Payable to an Officer and Stockholder - Schedule of Unamortized Discounts, Notes Payable to Officers and Stockholders (Details) (Parenthetical) | 0 Months Ended | 12 Months Ended | |||||||
Jul. 18, 2013 | Feb. 21, 2012 | Nov. 10, 2010 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | |
Unsecured, Interest-Free Convertible Notes Payable To Former Officer/Director Of The Company; Principal Due On Payment Schedule Through May 2014 [Member] | Unsecured, Interest-Free Convertible Notes Payable To Former Officer/Director Of The Company; Principal Due On Payment Schedule Through May 2014 [Member] | Unsecured Notes Payable To Officers/Directors Of The Company; Principal Nad Interest At 6% Due On Demand [Member] | Unsecured Notes Payable To Officers/Directors Of The Company; Principal Nad Interest At 6% Due On Demand [Member] | Unsecured Convertible Note Payable To Various Stockholders; Principal And Interest At 6% Due Between December 9, 2010 And March 31, 2011 [Member] | Unsecured Convertible Note Payable To Various Stockholders; Principal And Interest At 6% Due Between December 9, 2010 And March 31, 2011 [Member] | ||||
Maturity date | 22-Apr-14 | ' | ' | 31-May-14 | 31-May-14 | ' | ' | ' | ' |
Debt instrument interest rate | ' | 8.00% | 10.00% | ' | ' | 6.00% | 6.00% | 6.00% | 6.00% |
Notes_Payable_to_an_Officer_an5
Notes Payable to an Officer and Stockholder - Schedule of Maturities of Notes Payable (Details) (USD $) | Oct. 31, 2013 | Oct. 31, 2012 |
Debt Disclosure [Abstract] | ' | ' |
2014 | $201,450 | ' |
Thereafter | ' | ' |
Total | $201,450 | $188,950 |
Income_Taxes_Details_Narrative
Income Taxes (Details Narrative) (USD $) | 12 Months Ended |
Oct. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Change in total valuation allowance | $396,000 |
Federal net operating loss carryforwards | 27,091,000 |
State net operating loss carryforwards | 21,561,000 |
Operating loss carryforwards expiration date | 'through 2013 and 2023 |
Federal tax credit carryforwards | 165,000 |
State research and development tax credit carryforwards | $130,000 |
Recognized benefit cumulatively greater than recognized percentage | 50.00% |
Schedule_of_Components_of_Inco
Schedule of Components of Income Tax Expense (Details) (USD $) | 12 Months Ended | 24 Months Ended | 96 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | Mar. 31, 2012 | Oct. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Federal | ' | ' | ' | ' |
State | 1,600 | 1,600 | 20,560 | ' |
Total corporate tax expense | 1,600 | 1,600 | ' | ' |
Federal | ' | ' | ' | ' |
State | ' | ' | ' | ' |
Deferred tax expense, total | ' | ' | ' | ' |
Total provision | $1,600 | $1,600 | ' | $12,800 |
Schedule_of_Net_Deferred_Tax_A
Schedule of Net Deferred Tax Assets and Liabilities During Period (Details) (USD $) | Oct. 31, 2013 |
Income Tax Disclosure [Abstract] | ' |
Current deferred tax assets, Accrued vacation | ' |
Current deferred tax assets, Book compensation for options and warrants | ' |
Current deferred tax assets, Other | ' |
Total current deferred tax assets | ' |
Current deferred tax assets, Valuation allowance | ' |
Net deferred current tax assets | ' |
Noncurrent deferred tax assets, Net operating loss carryforward | 10,782,000 |
Noncurrent deferred tax assets, Other credit carryforward | 165,000 |
Noncurrent deferred tax assets, Depreciation and amortization | ' |
Total noncurrent deferred tax assets | 10,947,000 |
Noncurrent deferred tax assets, Valuation allowance | -10,947,000 |
Net deferred noncurrent tax assets | ' |
Total deferred tax assets | ' |
Schedule_of_Effective_Income_T
Schedule of Effective Income Tax Rate Reconciliation of U.S Statutory Income Tax Rate (Details) | 12 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' |
Tax expense at U.S. statutory income tax rate | -34.00% | -34.00% |
State tax | -5.80% | -5.80% |
Utilization of net operating loss | 0.00% | 0.00% |
Change in beginning balance of valuation allowance | 39.80% | 39.80% |
Effective income tax rate | ' | ' |
Stockholders_Deficit_Details_N
Stockholders' Deficit (Details Narrative) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 96 Months Ended | 1 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | ||||||||||||||||
Aug. 13, 2013 | Aug. 07, 2013 | Jun. 28, 2013 | Jun. 15, 2013 | Feb. 22, 2013 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Jan. 31, 2001 | Jan. 31, 2001 | Oct. 17, 2013 | Aug. 13, 2013 | Aug. 07, 2013 | Nov. 29, 2012 | Aug. 13, 2013 | Oct. 17, 2013 | 3-May-13 | Jan. 11, 2013 | Oct. 17, 2013 | Jan. 11, 2013 | Apr. 26, 2013 | Apr. 26, 2013 | Jun. 04, 2013 | Jun. 04, 2013 | Jun. 04, 2013 | Sep. 05, 2013 | |
Series C Preferred Stock [Member] | Series D Preferred Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Gregg Newhuis [Member] | Major Stockholder [Member] | Major Stockholder [Member] | Major Stockholder [Member] | Major Stockholder [Member] | Major Stockholder [Member] | Victor Hollander [Member] | Jeffrey Nunez [Member] | Jeffrey Nunez [Member] | Major Shareholder [Member] | Major Shareholder [Member] | Major Stockholder [Member] | Unaffiliated Investor [Member] | |||||||||
Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | |||||||||||||||||||||||
Common stock issued during period, shares | ' | ' | 13,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 60,000 | 40,000 | 211,764 | ' | ' | 3,333 | 435 | 196 | 50,000 | ' | ' | 20,000 |
Common stock issued during period | $30,000 | $10,000 | $10,000 | ' | ' | ' | ' | ' | ' | ' | $10,000 | ' | ' | $100,000 | $30,000 | $20,000 | $180,000 | ' | ' | $5,000 | ' | ' | $25,000 | ' | ' | $10,000 |
Common stock price per share | $0.50 | $0.50 | $0.75 | ' | ' | ' | ' | ' | ' | ' | $1 | $1 | $1 | $0.50 | $0.50 | $0.50 | $0.85 | $1 | $1 | $1.50 | $1.63 | $1.45 | $0.50 | $0.50 | $1 | $0.50 |
Warrant issued to purchase number of common stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | 30,000 | 10,000 | ' | ' | ' | ' | 40,000 | 20,000 | ' | ' | ' | ' | 50,000 | 100,000 | ' |
Warrant issued to purchase number of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | 20,000 | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for services, shares | ' | ' | ' | ' | 16,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for services | ' | ' | ' | ' | 20,000 | 993 | 132,796 | 3,212,484 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of transaction fee received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 5.00% | ' | ' | ' | ' |
Value of loan converted into common stock | ' | ' | ' | 12,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of accrued interest converted into common stock | ' | ' | ' | $1,299 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of converted common stock, shares | ' | ' | ' | 0.575 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Converted common stock, per share | ' | ' | ' | $23,998 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable preferred stock price per share | ' | ' | ' | ' | ' | $0.01 | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt ratio as per California law | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(a) the amount of the proposed distribution, and (b) 1.25 times its liabilities, excluding deferred taxes, deferred income, and deferred credits | ||||||||||||||||||||||||||
Preferred stock, par value | ' | ' | ' | ' | ' | $1 | ' | $1 | $250,000 | $500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | ' | ' | ' | ' | ' | 1,000,000 | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock convertable into common stock at holder option | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
convertible at the option of the holder into four (4) shares of common stock | convertible into two (2) shares of common stock | |||||||||||||||||||||||||
Liquidation preference per share | ' | ' | ' | ' | ' | $0.01 | ' | $0.01 | $4 | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_Det
Stock Options and Warrants (Details Narrative) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 96 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||
Aug. 13, 2013 | Aug. 07, 2013 | Jun. 28, 2013 | Feb. 22, 2013 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 17, 2013 | Aug. 13, 2013 | Aug. 07, 2013 | Oct. 31, 2013 | Jun. 04, 2013 | Jun. 04, 2013 | Jun. 04, 2013 | Oct. 31, 2013 | Feb. 14, 2012 | |
Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Major Shareholder [Member] | Major Shareholder [Member] | Major Stockholder [Member] | 2012 Employee Benefit Plan [Member] | 2012 Employee Benefit Plan [Member] | ||||||||
Warrant [Member] | Warrant [Member] | |||||||||||||||
Number of options available to grant under stock plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,500 | 120,000 |
Issuance of authorized common stock under stock plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000 | ' |
Stock issued during period for consideration of services under benefit plan | ' | ' | ' | $20,000 | $993 | $132,796 | $3,212,484 | ' | ' | ' | ' | ' | ' | ' | $20,000 | ' |
Outstanding stock options expiration term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
expire between February 2014 and January 2016 | expire between February 2014 and June 2016 | |||||||||||||||
Number of warrants outstanding | ' | ' | ' | ' | 146,667 | ' | 146,667 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of warrants surrender or cancelled | ' | ' | ' | ' | ' | 66,667 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercised to purchase common stock | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued during period, shares | ' | ' | 13,333 | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' |
Common stock issued during period | $30,000 | $10,000 | $10,000 | ' | ' | ' | ' | $10,000 | ' | ' | ' | $25,000 | ' | ' | ' | ' |
Common stock price per share | $0.50 | $0.50 | $0.75 | ' | ' | ' | ' | $1 | $1 | $1 | ' | $0.50 | $0.50 | $1 | ' | ' |
Warrant issued to purchase number of common stock, shares | ' | ' | ' | ' | ' | ' | ' | 10,000 | 30,000 | 10,000 | ' | ' | 50,000 | 100,000 | ' | ' |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Schedule of Options Granted Under the Company's Equity Compensation Plans (Details) (USD $) | 12 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Accounting Policies [Abstract] | ' | ' |
Number of Options, Outstanding, Beginning balance | 5,600 | 6,000 |
Number of Options, Granted | ' | ' |
Number of Options, Exercised | ' | ' |
Number of Options, Expired | -1,200 | -400 |
Number of Options, Canceled | ' | ' |
Number of Options, Outstanding, Ending balance | 4,400 | 5,600 |
Weighted Average Exercise Price, Outsatnding, Beginning balance | $40 | $45 |
Weighted Average Exercise Price, Granted | ' | ' |
Weighted Average Exercise Price, Exercised | ' | ' |
Weighted Average Exercise Price, Expired | $145.83 | $80 |
Weighted Average Exercise Price, Canceled | ' | ' |
Weighted Average Exercise Price, Outstanding, Ending balance | $13.35 | $40 |
Weighted Average Remaining Contractual Term (in years), Outstanding, Beginning | '1 year 2 months 12 days | '2 years 1 month 6 days |
Weighted Average Remaining Contractual Term (in years), Outstanding, Ending | '4 months 24 days | '1 year 2 months 12 days |
Aggregate Intrinsic Value, Outstanding, Beginning balance | ' | ' |
Aggregate Intrinsic Value, Outstanding, Ending balance | ' | ' |
Weighted_Average_Assumptions_f
Weighted Average Assumptions for Grants (Details) | 12 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Stock Options And Warrants | ' | ' |
Risk-free interest rate | 0.00% | 0.00% |
Expected dividend yield | 0.00% | 0.00% |
Expected stock price volatility | 0.00% | 0.00% |
Expected life in years | '0 years | '0 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Schedule of Stock Options Outstanding (Details) (USD $) | 12 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | |
Options outstanding | 4,400 | 5,600 | 6,000 |
Weighted Average Remaning Contractual Life | '1 year 2 months 12 days | '2 years 1 month 6 days | ' |
Weighted Average Exercise Price | $13.35 | $40 | $45 |
Options Exercisable | 4,400 | ' | ' |
Range One [Member] | ' | ' | ' |
Range of Exercise Prices | $7.69 | ' | ' |
Options outstanding | 4,000 | ' | ' |
Weighted Average Remaning Contractual Life | '3 months 18 days | ' | ' |
Weighted Average Exercise Price | $7.69 | ' | ' |
Options Exercisable | 4,000 | ' | ' |
Weighted Average Exercise Price, Exercisable | $7.69 | ' | ' |
Range Two [Member] | ' | ' | ' |
Range of Exercise Prices | $70 | ' | ' |
Options outstanding | 400 | ' | ' |
Weighted Average Remaning Contractual Life | '2 years 2 months 12 days | ' | ' |
Weighted Average Exercise Price | $70 | ' | ' |
Options Exercisable | 400 | ' | ' |
Weighted Average Exercise Price, Exercisable | $70 | ' | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Schedule of Warrants Granted to Non-employees (Details) (Warrant [Member], USD $) | 12 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Warrant [Member] | ' | ' |
Number of Warrants, Outstanding, Beginning balance | 146,667 | 10,000 |
Number of Warrants, Granted | 200,000 | 413,334 |
Number of Warrants, Exercised | -40,000 | ' |
Number of Warrants, Canceled | -66,667 | -266,667 |
Number of Warrants, Expired | ' | -10,000 |
Number of Warrants, Outstanding, Ending balance | 240,000 | 146,667 |
Weighted Average Exercise Price, Outstanding, Beginning balance | $1 | $5 |
Weighted Average Exercise Price, Granted | $0.88 | $1 |
Weighted Average Exercise Price, Exercised | $1 | ' |
Weighted Average Exercise Price, Canceled | $1.50 | $1.50 |
Weighted Average Exercise Price, Expired | ' | $5 |
Weighted Average Exercise Price, Outstanding, Ending balance | $0.90 | $1 |
Weighted_Average_Assumptions_f1
Weighted Average Assumptions for Grants, Warrants (Details) | 12 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Risk-free interest rate | 0.00% | 0.00% |
Expected dividend yield | 0.00% | 0.00% |
Expected stock price volatility | 0.00% | 0.00% |
Expected life in years | '0 years | '0 years |
Warrant [Member] | ' | ' |
Risk-free interest rate | 0.71% | 0.72% |
Expected dividend yield | ' | ' |
Expected stock price volatility | 1.42% | 1.89% |
Expected life in years | '2 years | '1 year 8 months 12 days |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies - Schedule of Warrants Outstanding (Details) (USD $) | 12 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2011 | |
Options outstanding | 4,400 | 5,600 | 6,000 |
Weighted Average Remaning Contractual Life | '1 year 2 months 12 days | '2 years 1 month 6 days | ' |
Weighted Average Exercise Price | $13.35 | $40 | $45 |
Options Exercisable | 4,400 | ' | ' |
Range One [Member] | ' | ' | ' |
Range of Exercise Prices | $7.69 | ' | ' |
Options outstanding | 4,000 | ' | ' |
Weighted Average Remaning Contractual Life | '3 months 18 days | ' | ' |
Weighted Average Exercise Price | $7.69 | ' | ' |
Options Exercisable | 4,000 | ' | ' |
Weighted Average Exercise Price, Exercisable | $7.69 | ' | ' |
Range Two [Member] | ' | ' | ' |
Range of Exercise Prices | $70 | ' | ' |
Options outstanding | 400 | ' | ' |
Weighted Average Remaning Contractual Life | '2 years 2 months 12 days | ' | ' |
Weighted Average Exercise Price | $70 | ' | ' |
Options Exercisable | 400 | ' | ' |
Weighted Average Exercise Price, Exercisable | $70 | ' | ' |
Warrant [Member] | ' | ' | ' |
Options outstanding | 240,000 | ' | ' |
Options Exercisable | 240,000 | ' | ' |
Warrant [Member] | Range One [Member] | ' | ' | ' |
Range of Exercise Prices | $0.50 | ' | ' |
Options outstanding | 50,000 | ' | ' |
Weighted Average Remaning Contractual Life | '2 years 7 months 6 days | ' | ' |
Weighted Average Exercise Price | $0.50 | ' | ' |
Options Exercisable | 50,000 | ' | ' |
Weighted Average Exercise Price, Exercisable | $0.50 | ' | ' |
Warrant [Member] | Range Two [Member] | ' | ' | ' |
Range of Exercise Prices | $1 | ' | ' |
Options outstanding | 190,000 | ' | ' |
Weighted Average Remaning Contractual Life | '1 year 9 months 18 days | ' | ' |
Weighted Average Exercise Price | $1 | ' | ' |
Options Exercisable | 190,000 | ' | ' |
Weighted Average Exercise Price, Exercisable | $1 | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details Narrative) (USD $) | 1 Months Ended | 0 Months Ended | 1 Months Ended | ||
Jan. 31, 2006 | Aug. 01, 2008 | Jan. 31, 2013 | Apr. 01, 2012 | Oct. 31, 2012 | |
acre | Jeffrey Nunez [Member] | Jeffrey Nunez [Member] | Jeffrey Nunez [Member] | ||
Area of land for lease | 4,100 | ' | ' | ' | ' |
Payment for rent | $3,650 | ' | ' | ' | ' |
Increased monthly lease rent payables | ' | 3,895 | ' | ' | ' |
Compensation | ' | ' | 60,000 | 8,000 | ' |
Increased in monthly compensation | ' | ' | ' | ' | 12,000 |
Received bonus in cash | ' | ' | ' | ' | 20,000 |
Received bonus in stock | ' | ' | ' | ' | 40,000 |
Receivced common stock, value | ' | ' | ' | ' | $78,300 |
Percentage of transaction fee received | ' | ' | ' | ' | 5.00% |
Commitments_and_Contingencies_2
Commitments and Contingencies - Schedule of Future Minimum Facilities Lease Payments (Details) (USD $) | Oct. 31, 2012 |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $19,475 |
2015 | ' |
Employee_Retirement_Plan_Detai
Employee Retirement Plan (Details Narrative) | 12 Months Ended |
Oct. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Percentage of employer contribution | 3.00% |
Subsequent_Events_Unaudited_De
Subsequent Events (Unaudited) (Details Narrative) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||||||||||
Aug. 13, 2013 | Aug. 07, 2013 | Jul. 18, 2013 | Jun. 28, 2013 | Oct. 31, 2013 | Oct. 31, 2012 | 16-May-12 | Feb. 21, 2012 | Nov. 10, 2010 | Oct. 17, 2013 | Aug. 13, 2013 | Aug. 07, 2013 | Jun. 04, 2013 | Jan. 29, 2014 | Nov. 12, 2013 | Jan. 27, 2014 | Jan. 09, 2014 | Nov. 19, 2013 | Dec. 19, 2013 | Dec. 13, 2013 | Dec. 19, 2013 | Dec. 13, 2013 | Nov. 13, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Jan. 29, 2014 | |
Warrant [Member] | Warrant [Member] | Warrant [Member] | Major Stockholder [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||||||||
Warrant [Member] | Asher Enterprises [Member] | Asher Enterprises [Member] | 2014 Employee Benefit Plan [Member] | Major Stockholder [Member] | Major Stockholder [Member] | Major Stockholder [Member] | Major Stockholder [Member] | Chief Scientist [Member] | Jeffrey Nunez [Member] | Employees [Member] | Gregg Newhuis [Member] | |||||||||||||||
Warrant [Member] | Warrant [Member] | 2014 Employee Benefit Plan [Member] | ||||||||||||||||||||||||
Litigation settlement amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9,894 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued during period, shares | ' | ' | ' | 13,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 | 20,000 | ' | ' | 100,000 | ' | 175,000 | ' |
Common stock issued during period | 30,000 | 10,000 | ' | 10,000 | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | 20,000 | ' | ' | 50,000 | ' | ' | ' |
Common stock price per share | $0.50 | $0.50 | ' | $0.75 | ' | ' | ' | ' | ' | $1 | $1 | $1 | $1 | ' | ' | ' | ' | ' | $0.50 | $0.50 | $1 | $1 | $0.50 | ' | $1 | ' |
Warrant issued to purchase number of common stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | 30,000 | 10,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | 10,000 | 20,000 | ' | ' | ' | ' |
Number of options available to grant under stock plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 525,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of authorized common stock under stock plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | 125,000 | ' | ' |
Common stock, price per share | ' | ' | ' | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | $1 | ' | ' |
Due to Board of Directors for loans payable on demand | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34,000 |
Debt instrument interest rate | ' | ' | ' | ' | ' | ' | ' | 8.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% |
Convertible promissory note | ' | ' | ' | ' | 149,868 | 77,368 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Legal fees | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock issued for conversion of debt, shares | ' | ' | ' | ' | ' | 315,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68,306 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock issued for conversion of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion exercise price | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | $0.22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |