STOCK BASED COMPENSATION ARRANGEMENTS

6 Months Ended

Apr. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure Of Compensation Related Costs, Share-Based Payments [Text Block]

13. STOCK BASED COMPENSATION ARRANGEMENTS

Stock-based compensation expense in the three and six months ended April 30, 2014 amounted to $270 and $643, respectively. Stock-based compensation expense in the three and six months ended April 30, 2013 amounted to $385 and $665, respectively. Stock-based compensation expense is recorded in general and administrative expenses in the accompanying consolidated statements of operations.

A summary of the Company’s stock option activity in the six months ended April 30, 2014 is presented below:

Outstanding at beginning of period	3,363,644
Granted	-
Exercised	-
Forfeited	(34,000)
Expired	(256,309)
Outstanding at end of period	3,073,335

As of April 30, 2014, the weighted-average exercise price of outstanding options was $1.18 per share.

A summary of the Company’s restricted stock activity in the six months ended April 30, 2014 is presented below:

Outstanding at beginning of period	1,601,157
Granted	163,795
Vested	(106,771)
Canceled	(55,400)
Outstanding at end of period	1,602,781

The grant-date fair value of restricted shares granted during the six months ended April 30, 2014 was $94, based on the fair value of the Company’s common stock on the date of grant.

In April 2014 the Company’s stockholders and Board of Directors approved an amendment to the Plan to increase the number of common shares available for issuance under the Plan by 3,000,000 shares.