Stock Options and Warrants (Tables)

12 Months Ended

Oct. 31, 2013

Stock Options And Warrants

Summary of Stock Options Granted

The options granted have contractual lives ranging from three to ten years.

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at October 31, 2011		6,000		$	45.00		2.1	$	—
Granted		—			—
Exercised		—			—
Expired		(400	)		80.00
Canceled		—			—
Outstanding at October 31, 2012		5,600			40.00		1.2	$	—
Granted		—			—
Exercised		—			—
Expired		(1,200	)		145.83
Canceled		—			—
Outstanding at October 31, 2013		4,400		$	13.35		0.4	$	—

weighted Average Assumptions for Grants

The values of the options were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions for grants made in 2013 and 2012.

	2013	2012
Risk-free interest rate	—	—	%
Expected dividend yield	—	—
Expected stock price volatility	—	—
Expected life in years	—	—

Summary of Options Outstanding

Summary information about the Company’s options outstanding at October 31, 2013 is set forth in the table below. Options outstanding at October 31, 2013 expire between February 2014 and January 2016.

Range of Exercise Prices		Options Outstanding October 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Options Exercisable October 31, 2013		Weighted Average Exercise Price
$	7.69		4,000		0.3	$	7.69		4,000	$	7.69
$	70.00		400		2.2	$	70.00		400	$	70.00
TOTAL:			4,400						4,400

Summary of Warrants Granted to Non-Employees

The following table summarizes the information relating to warrants granted to non-employees as of October 31, 2013 and 2012 and changes during the years then ended. Warrants outstanding at October 31, 2013 expire between February 2014 and June 2016.

	Number of Warrants			Weighted Average Exercise Price
Outstanding at October 31, 2011		10,000		$	5.00
Granted		413,334			1.00
Exercised		—			—
Cancelled		(266,667	)		1.50
Expired		(10,000	)		5.00
Outstanding at October 31, 2012		146,667			1.00
Granted		200,000			0.88
Exercised		(40,000	)		1.00
Cancelled		(66,667	)		1.50
Expired		—			—
Outstanding at October 31, 2013		240,000		$	0.90

Weighted Average Assumptions for Grants, Warrants

The values of the warrants were estimated using the Black-Scholes Option Pricing Model with the following weighted average assumptions for grants made in 2013 and 2012:

	2013			2012
Risk-free interest rate		0.71	%		0.72	%
Expected dividend yield		—			—
Expected stock price volatility		1.42			1.89
Expected life in years		2.0 years			1.7 years

Summary of Warrants Outstanding

Summary information about the Company’s warrants outstanding at October 31, 2013 is as follows:

Range of Exercise Prices	Warrants October 31, 2013		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Warrants Exercisable October 31, 2013		Weighted Average Exercise Price
$0.50		50,000		2.6	$	0.50		50,000	$	0.50
$1.00		190,000		1.8	$	1.00		190,000	$	1.00
TOTAL:		240,000						240,000