FAIR VALUE (Tables)

6 Months Ended

Apr. 30, 2014

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The table below segregates all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date.

	April 30, 2014		Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)		Significant unobservable inputs (level 3)
Assets:
Money market funds	$	8,790	$	8,790	$	—	$	—
Bank deposits		2,157		2,157		—		—
Total financial assets	$	10,947	$	10,947	$	—	$	—

	October 31, 2013		Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)		Significant unobservable inputs (level 3)
Assets:
Money market funds	$	7,283	$	7,283	$	—	$	—
Bank deposits		6,102		6,102		—		—
Total financial assets	$	13,385	$	13,385	$	—	$	—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

A summary of the changes to the Company’s warrant liability, as measured at fair value on a recurring basis using significant unobservable inputs (Level 3), for the three and six months ended April 30, 2013 is presented below:

	Three months ended April 30		Six months ended April 30
	2013		2013
Beginning balance	$	-	$	17
Total (gain) included in net loss		-		(17)
Ending balance	$	-	$	-

Fair Value Assumptions Warrants [Table Text Block]

Assumptions used to determine the fair value of the warrants in the three and six months ended April 30, 2013 were:

	Three months ended April 30			Six months ended April 30
	2013			2013
Estimated fair value of stock	$	0.61			$0.61-$1.00
Expected warrant term		0.0-0.1 years			0.0-0.3 years
Risk-free rate		0.1	%		0.0-0.1	%
Expected volatility		84.8	%		77.4-84.8	%
Dividend yield		0	%		0	%

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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