Note 7. Stock Based Compensation

3 Months Ended

Jan. 31, 2012

Notes

Note 7. Stock Based Compensation

7.  Stock Based Compensation

During the three months ended January 31, 2012 and January 31, 2011 no stock options were issued or exercised.

Option activity during the three month period ended January 31, 2012 is as follows:

	Shares	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Useful Life (in years)
Outstanding at October 31, 2011	14,000	$39.00	$546,000	0.42
Granted	0	0	0
Exercised	0	0	0
Expired	0	0	0	0
Outstanding at January 31, 2012	14,000	$39.00	$546,000	0.17
Options exercisable at January 31, 2012	14,000	$39.00
Option exercise price range	$39.00

           All options are vested, therefore the Companies do not expect to recognize any compensation expense related to non-vested awards during Fiscal 2012.

The Companies’ policy regarding the exercise of options requires that optionees utilize an independent broker to manage the transaction, whereby, following the option exercise the broker sells the exercised shares on the open market.