Subsequent Events

3 Months Ended

Jan. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

12. Subsequent Events

On February 6, 2013, the Company entered into a Subscription Agreement with a major stockholder, Anthony Frank, to purchase up to $180,000 in shares of common stock at a purchase price of $0.85 per share over a three month period. Mr. Frank purchased 70,588 shares of common stock on February 6, 2013 and paid $60,000. An additional 70,588 shares were purchased under this arrangement on February 28, 2013 for $60,000.

On May 21, 2012, the Company entered into a Subscription Agreement with a major stockholder to purchase a total of 400,000 shares of the Company’s common stock at $0.50 per share, for a total of $200,000 which the Company received during fiscal 2012. As additional consideration, the purchaser was granted a one-year option to purchase up to an additional 66,667 shares of common stock at $1.50 per share commencing on the date the final dollars are invested. On February 6, 2013, this stockholder surrendered his rights to the referenced warrants in full.

On February 8, 2013, pursuant to a Written Consent of a Majority of Shareholders, the Company voted to amend its Articles of Incorporation to:

● Decrease the authorized number of Common Stock of the Company from 2.5 billion to 25 million shares; and

● Effect a 500-to-1 reverse split of all classes of its issued and outstanding shares of stock such that the following classes of shares would be reconstituted as of February 8, 2013 as follows:

	NUMBER OF SHARES ISSUED AND OUTSTANDING
TITLE OF SECURITIES	PRE-REVERSE SPLIT		POST-REVERSE SPLIT
Common Stock		2,397,818,199		4,795,636
Class B Common Stock		None		None
Convertible Preferred Stock		2,600,000		5,200
Preferred Stock		None		None

On February 22, 2013, the Company issued its legal counsel a total of 8,000 shares of common stock in payment for $8,000 in legal services rendered for $1.00 per share.