STOCKHOLDERS' EQUITY

12 Months Ended

Oct. 31, 2014

Equity [Abstract]

Stockholders Equity Note Disclosure [Text Block]

11.  STOCKHOLDERS’ EQUITY

Common stock warrants

A summary of the status of the Company’s outstanding warrants and units as of October 31 and changes during the years then ended is presented below:

	2014		2013
Outstanding at beginning of year		7,143		168,072
Expired		-		(160,929)
Outstanding at end of year		7,143		7,143

The outstanding stock purchase warrants at October 31, 2014 and 2013 consist of warrants issued in 2010 in connection with consulting services. The warrants have an exercise price of $7.42 per share and expire in March 2015.

In 2007, the Company completed a private placement of units consisting of shares of common stock and warrants to purchase shares of common stock. The warrants required settlement by transferring assets under certain change of control circumstances and were classified as liabilities in the Company’s consolidated balance sheets in accordance with ASC Topic 480, Distinguishing Liabilities from Equity. The Company measured the fair value of the warrants at each balance sheet date, using the Black-Scholes method, and recorded a gain or loss in earnings each period as change in fair value of warrants. The remaining outstanding warrants had a fair value of $0 at expiration in March 2013. The Company recorded a non-cash gain of $17 in the year ended October 31, 2013 due to changes in the fair value of the warrants (see Note 3).

In 2006, the Company issued warrants to purchase shares of common stock in connection with consulting services. The remaining outstanding warrants expired in July 2013.

Sale of common stock

On August 2, 2013, the Company sold shares of common stock to an investor and shareholder in Orid Media (See Note 17), with respect to a registered direct offer and sale by the Company of 476,190 shares of the Company’s common stock at an offering price of $4.20 per share, resulting in proceeds to the Company of $2,000.