Departure of Directors of Principal Officers; Election of Directors; Appointment of Principal Officers

6 Months Ended

Apr. 30, 2012

Departure Of Directors Of Principal Officers Election Of Directors Appointment Of Principal Officers

Departure of Directors of Principal Officers; Election of Directors; Appointment of Principal Officers

10. Departure of Directors of Principal Officers; Election of Directors; Appointment of Principal Officers

On April 13, 2012, the Board of Directors accepted the resignation of Michael Brennan from his positions on the Company’s Board of Directors and as Chief Executive Officer. The resignation of Mr. Brennan was not the result of any disagreements with the Company.

On April 20, 2012, the Board of Directors nominated Jeffrey Nunez to the board, which nomination was accepted by Mr. Nunez, and then the board engaged Mr. Nunez to fill the position of President and Chief Executive Officer of the Company commencing immediately. Victor Hollander remains the Company’s Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer.