10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D. C. 20549

FORM 10-Q/A

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended July 31, 2011

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___ to _____

 Commission File Number 001-32044

TODAYS ALTERNATIVE ENERGY CORPORATION

 (Exact name of registrant as specified in its charter)

Nevada (State or other jurisdiction of incorporation or organization) 16-1576984  (I.R.S. Employer Identification No.)

857 Post Road, Suite 397

Fairfield, CT 06824

(Address of principal executive offices)

888-880-0994

(Issuer's telephone number)

Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes    x No    ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filter ¨		Accelerated filter ¨
Non-accelerated filter ¨	(Do not check if a smaller reporting company)	Smaller reporting company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act. Yes  ¨ No  x

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Indicate by check mark whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes ¨ No ¨

APPLICABLE ONLY TO CORPORATE ISSUERS

As of September 13, 2011, there were 4,024,917 shares of our common stock issued and outstanding.

Transitional Small Business Disclosure Format:    Yes    ¨ No    x

EXPLANATORY NOTE

The purpose of this Amendment on Form 10-Q/A to Todays Alternative Energy Corporation’s quarterly report on Form 10-Q for the quarter ended July 31, 2011, filed with the Securities and Exchange Commission on September 14, 2011 (the “Form 10-Q”), is solely to furnish the information presented in Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S–T.

No other changes have been made to our Form 10-Q filed on September 14, 2011. This Amendment speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update in any way disclosures made in the original Form 10-Q.

ITEM 6 - EXHIBITS.

31.1*	Certification by Chief Executive Officer pursuant to Section 302 of Sarbanes Oxley Act of 2002.
31.2*	Certification by Chief Financial Officer pursuant to Section 302 of Sarbanes Oxley Act of 2002.
32.1*	Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350.
32.2*	Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350.

101** The following materials from Todays Alternative Energy Corporation’s Quarterly Report on Form 10-Q for the quarter ended July 31, 2011 are formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Statements of Income, (ii) the Consolidated Statements of Cash Flow, (iii) the Consolidated Balance Sheets, and (iv) the Notes to the Consolidated Financial statements tagged as blocks of text.

* Incorporated by reference to our Quarterly Report on Form 10-Q filed with the SEC on September 14, 2011

**  In accordance with Rule 406T of Regulation S-T, the XBRL related information in Exhibit 101 to this Amendment to our Quarterly Report on Form 10-Q for the quarterly period ended July 31, 2011 shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: October 14, 2011	/s/ Len Amato
	By:  Len Amato
	Its:  Chief Executive Officer, President, Chief Financial Officer and Director (Principal Executive Officer and Principal Financial and Accounting Officer)

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Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jul. 31, 2011	Oct. 31, 2010
Long term portion of convertible notes payable, debt discount	$ 75,368	$ 0
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, authorized	10,000,000	10,000,000
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	3,940,240	2,168,554
Common stock, shares outstanding	3,940,240	2,168,554
Series A Member
Preferred stock, issued	10,000	10,000
Preferred stock, outstanding	10,000	10,000
Series B Member
Preferred stock, issued	72,000	80,000
Preferred stock, outstanding	72,000	80,000

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Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended		45 Months Ended
	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2011
Expenses:
General and administrative expenses	$ 127,239	$ 136,305	$ 372,547	$ 316,853	$ 1,876,847
Total expenses	127,239	136,305	372,547	316,853	1,876,847
Loss from operations	(127,239)	(136,305)	(372,547)	(316,853)	(1,876,847)
Other expenses:
Beneficial conversion feature expense	(12,742)	(43,748)	(99,132)	(229,992)	(643,907)
Interest expense	(32,811)	(26,533)	(92,812)	(73,981)	(396,512)
Total other expenses	(45,553)	(70,281)	(191,944)	(303,973)	(1,040,419)
Net loss before provision for income taxes	(172,792)	(206,586)	(564,491)	(620,826)	(2,917,266)
Provision for income taxes
Net loss	$ (172,792)	$ (206,586)	$ (564,491)	$ (620,826)	$ (2,917,266)
Net loss per weighted average share - basic and diluted	$ (0.05)	$ (0.13)	$ (0.20)	$ (0.44)
Weighted average number of shares - basic and diluted	3,579,908	1,535,201	2,879,690	1,400,425

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Document and Entity Information	9 Months Ended
	Jul. 31, 2011	Sep. 13, 2011
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q3
Trading Symbol	TAEC
Entity Registrant Name	TODAYS ALTERNATIVE ENERGY CORP
Entity Central Index Key	0001128581
Current Fiscal Year End Date	--10-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,024,917

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EQUITY TRANSACTIONS

9 Months Ended

Jul. 31, 2011

EQUITY TRANSACTIONS

NOTE 5 - EQUITY TRANSACTIONS

Preferred Stock

During the nine months ended July 31, 2011, a Series B preferred stock holder converted 8,000 shares of Series B Preferred Stock into 299,554 shares of common stock.

Common Stock

On March 16, 2011, the Company adopted its 2011 Equity Incentive Plan (“2011 Plan”). The Company is permitted to issue up to 1,250,000 shares of common stock under the Plan in the form of stock options, restricted stock awards, and stock awards to directors, officers, consultants, advisors and employees of the Company.

During the nine months ended July 31, 2011, the Company issued 321,727 shares of common stock, including 22,173 common stock to be issued, in exchange for the conversion of Series B Preferred Stock.

As of July 31, 2011 and October 31, 2010, there were 3,940,240 and 2,168,554 shares of Company common stock issued and outstanding, respectively.

Warrants and Options

During the nine months ended July 31, 2011 and 2010, the Company did not issue any stock warrants or options.  As of July 31, 2011, no warrants or options are outstanding.

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DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Jul. 31, 2011

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 - DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of Todays Alternative Energy Corporation (the “Company”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s Annual Report filed with the SEC on Form 10-K. Certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the unaudited condensed consolidated financial statements which would substantially duplicate the disclosure contained in the audited consolidated financial statements for the fiscal year ended October 31, 2010 as reported in the 10-K have been omitted.

Principles of Consolidation

The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Guaranteed Enzyme Miracle Corporation (“GEM”) and Bio-Extraction Services, Inc. (“BESI”). Significant inter-company accounts and transactions have been eliminated.

Nature of Business and History of Company

The Company’s business has two primary opportunities that it is developing. The Company has a green cleaning products business that is organized to use its scientific formulations to manufacture and sell a new line of powerful industrial strength environmentally friendly biodegradable cleaning products that contain natural non-toxic ingredients. The Company has a biodiesel business that is organized to use its extraction technology to convert waste cooking oil and grease into a biodiesel fuel ingredient that it intends to sell to biodiesel fuel producers. The Company’s biodiesel business is designed to eliminate environmental issues associated with disposing of waste cooking oil and grease.

Corporate Changes

On April 19, 2010, holders of the majority of the voting power of the outstanding stock of Bio-Solutions Manufacturing, Inc. as of April 16, 2010, voted in favor of changing the Company’s name to Todays Alternative Energy Corporation.  On June 9, 2010, the Company filed a certificate of amendment with the Secretary of State of Nevada in order to effect the name change.

On May 20, 2011, the Company filed a certificate of amendment to its Certificate of Incorporation with the Secretary of State of Nevada to effectuate a reverse stock split on a 1 to 20 basis.  Each holder of common stock received 1 share of the Company’s common stock for each 20 shares of the Company’s common stock held.  Fractional shares were rounded up to the nearest whole share. All per share numbers quoted herein are reflective of the 1:20 reverse split. All common stock and related information have been retroactively restated.

Development Stage Company

As a result of impairing the value of the Company’s intangible assets, at October 31, 2007, the Company began implementing new plans to enter the biodiesel fuel market on November 1, 2007. As a result, the Company is a development stage enterprise, as defined by Accounting Standards Codification (the “Codification” or “ASC”) 915-10. The Company is devoting all of its present efforts in securing and establishing a new business, and its planned principle operations have not commenced, and, accordingly, no revenue has been derived during the organization period. From its inception of development stage through the date of these financial statements, the Company has not generated any revenues and has incurred significant operating expenses. Consequently, its operations are subject to all risks inherent in the establishment of a new business enterprise. For the period from November 1, 2007 (the inception of development stage) through July 31, 2011, the Company has accumulated losses of $2,917,266.

Use of Estimates

The preparation of the financial statement in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Loss per Share

Basic and diluted loss per share amounts are computed based on net loss divided by the weighted average number of common shares outstanding. Potentially dilutive shares of common stock realizable from the conversion of our convertible debentures of 2,959,763,362 and 1,687,044,761, respectively at July 31, 2011 and 2010, are excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive.

Reclassifications

Certain reclassifications have been made in prior year's financial statements to conform to classifications used in the current year.

Recent Accounting Pronouncements

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its consolidated financial condition or the results of its operations.

Going Concern

The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. Going concern contemplates the realization of assets and the satisfaction of liabilities in the normal course of business over a reasonable length of time. The Company has incurred losses since inception and has negative cash flows from operations. For the three and nine months ended July 31, 2011, the Company has incurred net losses of $172,792 and $564,491, respectively and has a stockholders’ deficit of $2,532,780 as of July 31, 2011. The future of the Company is dependent upon its ability to obtain additional equity or debt financing and upon future successful development and marketing of the Company’s products and services. Management is pursuing various sources of equity and debt financing. Although the Company may pursue additional financing, there can be no assurance that the Company will be able to secure such financing or obtain financing on terms beneficial to the Company. Failure to secure such financing may result in the Company’s inability to continue as a going concern and the impairment of the recorded long lived assets.

As of July 31, 2011, the Company’s Chief Executive Officer was its sole employee. To conserve cash, minimize borrowing and minimize overhead costs, the Company is outsourcing certain administrative and operating activities under an arrangement that allows it to pay for the services with shares of the Company’s common stock. The Company continues to need to borrow cash from time to time in order to pay its operating costs while it seeks substantial financing needed to generate sales from its Biodiesel Division and Cleaning Division. The Company anticipates future losses from operations as a result of ongoing overhead expenses incurred while it attempts to resume selling activities.

These unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability and classifications of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

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SUBSEQUENT EVENTS

9 Months Ended

Jul. 31, 2011

SUBSEQUENT EVENTS

NOTE 7 – SUBSEQUENT EVENTS

Since July 31, 2011, the Company has issued 84,602 shares of Company common stock in satisfaction of notices to convert 2,000 shares of Series B Preferred Stock.

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COMMITMENTS AND CONTINGENCIES

9 Months Ended

Jul. 31, 2011

COMMITMENTS AND CONTINGENCIES

NOTE 6 - COMMITMENTS AND CONTINGENCIES

Operating Leases

In October 2010, the Company negotiated a 64 month lease agreement for a 14,833 square foot facility in San Antonio, Texas. The lease contains real estate tax and operating escalations and a termination option after the third year. Monthly rental payments start five months after completion of leasehold improvements to the facility and receipt of a certificate of occupancy. In June 2011, the landlord informed the Company of an approximately $100,000 increase in anticipated costs to build the manufacturing facility.  The Company rejected the landlord’s revised plans and does not plan to go forward with the lease on the present terms. The landlord objects to the Company’s rejection of the new lease terms and seeks to go forward with the lease.  The Company is currently reviewing other options on how to proceed with growing the GEM products business.

Rent expense for the three and nine months ended July 31, 2011 and 2010 was $0.

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Condensed Consolidated Statement of Stockholders' Deficit (Parenthetical)	9 Months Ended	12 Months Ended
	Jul. 31, 2011	Oct. 31, 2010	Oct. 31, 2009
Shares issued in satisfaction of fraction shares, reverse stock split	20		1,000
Common stock to be issued to former officer, shares		15

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ACCOUNTS PAYABLE AND ACCRUED EXPENSES

9 Months Ended

Jul. 31, 2011

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 2 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accrued expenses are comprised of the following:

	July 31, 2011		October 31, 2010
	(unaudited)
Accounts payable	$	238,931	$	261,539
Salaries		59,298		66,814
Interest		479,998		387,186
Payroll taxes		70,182		74,367
Professional fees		169,327		77,992
Other		19,793		16,296
Total	$	1,037,529	$	884,194

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ADVANCE PAYABLE

9 Months Ended

Jul. 31, 2011

ADVANCE PAYABLE

NOTE 3 – ADVANCE PAYABLE

As of July 31, 2011, the Company owed $87,500 to a note holder for cash advanced to the Company for operating purposes.  The advance accrues interest at 10% per annum and is repayable on demand.

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CONVERTIBLE NOTES PAYABLE

9 Months Ended

Jul. 31, 2011

CONVERTIBLE NOTES PAYABLE

NOTE 4 – CONVERTIBLE NOTES PAYABLE

	July 31, 2011			October 31, 2010
	(unaudited)
Convertible notes payable:
Convertible promissory note (a)	$	1,400,070		$	1,333,120
Convertible promissory note (b)		400			400
Convertible promissory note (c)		33,645			33,645
Convertible promissory note (d)		30,000			-
Convertible promissory note (e)		40,000			-
Convertible promissory note (f)		30,000			-
		1,534,115			1,367,165
Less: discount on debt		(75,368	)		-
		1,458,747			1,367,165
Less: current portion		(1,434,115	)		(1,367,165	)
Long term debt	$	24,632		$	-

a)	On November 29, 2006, the Company entered into a loan agreement with certain existing third-party lenders and a new lender, pursuant to which the Company borrowed approximately $164,000 and certain outstanding debt obligations were amended and restated. Under the loan agreement, the existing lenders received amended and restated secured convertible promissory notes in the aggregate principal amounts of $537,955 and $264,625, respectively, and the new lender received a convertible promissory note in the aggregate principal amount of $164,000. Under the loan agreement and the notes, each lender may, in its sole and absolute discretion, make additional loans to the Company, up to an aggregate total of $1,000,000 per lender. Each note was convertible into shares of the Company’s common stock at a conversion rate equal to the lower of (a) $0.05 per share, or (b) seventy percent (70%) of the three day average of the closing bid price of the Company’s common stock immediately prior to conversion, although such conversions could not be less than $0.01 per share, in any circumstances. In May 2008, the conversion price was amended to provide a fixed conversion price of $0.001 per share. In addition, the note holders cannot convert any principal or interest under the notes to the extent that such conversion would require the Company to issue shares of its common stock in excess of its authorized and unissued shares of common stock.  The notes were transferred to a single entity.  Each note accrues interest at an annual rate of eight percent (8%) and is payable on demand. During the nine months ended July 31, 2011, the note holder converted $7,550 of note principal into 377,500 shares of Company common stock.
b)	On July 14, 2009, an unrelated third party investor acquired an interest in the November 26, 2006 loan agreement from the existing lender, since which the investor has made various conversions to the principal and interest outstanding.
c)	On May 26, 2010, an unrelated third party investor acquired an interest in the November 26, 2006 loan agreement from the existing lender, since which the investor has made various conversions to the principal and interest outstanding.

d)

On December 24, 2010, the Company sold and issued a convertible promissory note in the aggregate principal amount of $30,000 to a certain investor. The note matures on the two-year anniversary of the date of issuance and accrues interest at an annual rate of ten percent (10%). The note is payable in full on the maturity date unless previously converted into shares of Company common stock at a conversion price of $0.0001 per share. The Company recognized and measured an aggregate of $30,000 of the proceeds, which is equal to the intrinsic value of the imbedded beneficial conversion feature, to additional paid in capital and a discount against the note issued, with the discount being amortized over the note’s two-year term.

e)

On January 25, 2011, the Company sold and issued a convertible promissory note in the aggregate principal amount of $40,000 to a certain investor. The note matures on the two-year anniversary of the date of issuance and accrues interest at an annual rate of ten percent (10%). The note is payable in full on the maturity date unless previously converted into shares of Company common stock at a conversion price of $0.0001 per share. The Company recognized and measured an aggregate of $40,000 of the proceeds, which is equal to the intrinsic value of the imbedded beneficial conversion feature, to additional paid in capital and a discount against the note issued, with the discount being amortized over the note’s two-year term.

f) On February 25, 2011, the Company sold and issued a convertible promissory note in the aggregate principal amount of $30,000 to a certain investor. The note matures on the two-year anniversary of the date of issuance and accrues interest at an annual rate of ten percent (10%). The note is payable in full on the maturity date unless previously converted into shares of Company common stock at a conversion price of $0.0001 per share. The Company recognized and measured an aggregate of $30,000 of the proceeds, which is equal to the intrinsic value of the imbedded beneficial conversion feature, to additional paid in capital and a discount against the note issued, with the discount being amortized over the note’s two-year term.

Beneficial conversion feature expenses of $12,742 and $99,132 were recorded in the three and nine months ended July 31, 2011, respectively and $643,907 was recorded from November 1, 2007 (the inception of development stage) through July 31, 2011, all of which were attributed to these loan agreements.

Beneficial conversion feature expenses of $43,748 and $229,992 were recorded in the three and nine months ended July 31, 2010, respectively and $505,159 was recorded from November 1, 2007 (the inception of development stage) through July 31, 2010, all of which were attributed to these loan agreements.

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Condensed Consolidated Statement of Stockholders' Deficit (USD $)	Total	Preferred Stock	Common Stock	Common Stock to be Issued	Additional Paid in Capital	Deficit Accumulated During the Development Stage	Accumulated (Deficit)	Services	Services Preferred Stock	Services Common Stock	Services Additional Paid in Capital	Legal Settlement	Legal Settlement Preferred Stock	Legal Settlement Additional Paid in Capital
Beginning Balance at Oct. 31, 2007	$ (1,641,451)				$ 5,866,870		$ (7,508,321)
Beginning Balance (in shares) at Oct. 31, 2007			2,318
Debt converted for shares (in shares)			800
Debt converted for shares	106,560				106,560
Beneficial conversion feature	(55,990)				(55,990)
Reclassification as a result of reincorporation		(10)			10
Net loss	(592,439)					(592,439)
Shares issued (in shares)									10,000	1,336
Shares issued								285,322	10		285,312
Ending Balance at Oct. 31, 2008	(1,897,998)				6,202,762	(592,439)	(7,508,321)
Ending Balance (in shares) at Oct. 31, 2008		10,000	4,454
Debt converted for shares (in shares)			1,319,750
Debt converted for shares	113,950		13		113,937
Beneficial conversion feature	331,157				331,157
Shares issued in satisfaction of fraction shares resulting from reverse stock split			101
Net loss	(927,207)					(927,207)
Shares issued (in shares)										6,555			92,000
Shares issued								66,818			66,818	92,000	1	91,999
Ending Balance at Oct. 31, 2009	(2,221,280)	1	13		6,806,673	(1,519,646)	(7,508,321)
Ending Balance (in shares) at Oct. 31, 2009		102,000	1,330,860
Debt converted for shares (in shares)			400,250
Debt converted for shares	8,005		4		8,001
Conversion of Series B shares for common shares (in shares)		(12,000)	51,989
Conversion of Series B shares for common shares			1		(1)
Beneficial conversion feature	269,608				269,608
Contributed services by former officers	394,679				394,679
Accrued expenses forgiven by former officer	1,666				1,666
15 shares of common stock to be issued to former officer	1			1
Net loss	(833,129)					(833,129)
Shares issued (in shares)										385,455
Shares issued								135,000		4	134,996
Ending Balance at Oct. 31, 2010	(2,245,450)	1	22	1	7,615,622	(2,352,775)	(7,508,321)
Ending Balance (in shares) at Oct. 31, 2010		90,000	2,168,554
Debt converted for shares (in shares)			377,500
Debt converted for shares	7,550		4		7,546
Conversion of Series B shares for common shares (in shares)		(8,000)	321,727
Conversion of Series B shares for common shares			3		(3)
Beneficial conversion feature	174,500				174,500
Shares issued in satisfaction of fraction shares resulting from reverse stock split			1,707
Net loss	(564,491)					(564,491)
Shares issued (in shares)										1,070,752
Shares issued								95,111		10	95,101
Ending Balance at Jul. 31, 2011	$ (2,532,780)	$ 1	$ 39	$ 1	$ 7,892,766	$ (2,917,266)	$ (7,508,321)
Ending Balance (in shares) at Jul. 31, 2011		82,000	3,940,240

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Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended		45 Months Ended
	Jul. 31, 2011	Jul. 31, 2010	Jul. 31, 2011
CASH FLOWS FROM OERATING ACTIVITIES
Net loss	$ (564,491)	$ (620,826)	$ (2,917,266)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			3,570
Loss on disposition of fixed assets			3,320
Beneficial conversion feature expense	99,132	229,992	643,907
Shares to be issued for officer's compensation			1
Shares issued for interest payment			68,250
Changes in operating assets and liabilities:
Prepaid expenses	1,463	(1,950)	2,000
Other assets	(49,000)		(49,000)
Accounts payable and accrued expenses	153,335	111,247	638,155
Net cash used in operating activities	(264,450)	(201,537)	(932,812)
Net cash used in investing activities
Cash flows from financing activities:
Proceeds from advance payable	87,500		87,500
Proceeds from notes payable	174,500	206,788	891,194
Payments on notes payable		(5,660)	(48,922)
Net cash provided by financing activities	262,000	201,128	929,772
Net decrease in cash	(2,450)	(409)	(3,040)
Cash and cash equivalents - beginning	4,446	3,423	5,036
Cash and cash equivalents - ending	1,996	3,014	1,996
SUPPLEMENTAL DISCLOSURES OF CASH FLOW:
Interest paid
Income taxes paid
NON CASH INVESTING AND FINANCING ACTIVITIES:
Contribution of accrued salaries by former officers			394,679
Accrued expenses forgiven by former officer			1,666
Debt converted to equity	7,550	8,005	169,615
Services
Changes in operating assets and liabilities:
Shares issued for services or claims	95,111	80,000	582,251
Legal Settlement
Changes in operating assets and liabilities:
Shares issued for services or claims			$ 92,000

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Condensed Consolidated Balance Sheets (USD $)	Jul. 31, 2011	Oct. 31, 2010
Current assets:
Cash	$ 1,996	$ 4,446
Prepaid expense		1,463
Total current assets	1,996	5,909
Other assets:
Security deposit	7,478
Other deposit	41,522
Total other assets	49,000
Total assets	50,996	5,909
Current liabilities:
Accounts payable and accrued expenses	1,037,529	884,194
Advances payable	87,500
Convertible notes payable, net of long term portion	1,434,115	1,367,165
Total current liabilities	2,559,144	2,251,359
Long term portion of convertible notes payable (net of debt discount of $75,368 and $0 as of July 31, 2011 and October 31, 2010, respectively)	24,632
Stockholders' (deficit):
Preferred stock, $0.00001 par value, 10,000,000 authorized,10,000 shares of Series A issued and outstanding as of July 31, 2011 and October 31, 2010 and 72,000 and 80,000 shares of Series B issued and outstanding as of July 31, 2011 and October 31, 2010, respectively	1	1
Common stock, $0.00001 par value, 1,000,000,000 shares authorized, 3,940,240 and 2,168,554 shares issued and outstanding as of July 31, 2011 and October 31, 2010, respectively	39	22
Common stock to be issued	1	1
Additional paid-in capital	7,892,766	7,615,622
Deficit accumulated from November 1, 2007 (inception of development stage)	(2,917,266)	(2,352,775)
Accumulated deficit	(7,508,321)	(7,508,321)
Total stockholders' (deficit)	(2,532,780)	(2,245,450)
Total liabilities and stockholders' deficit	$ 50,996	$ 5,909