Shareholders' Equity

6 Months Ended

Apr. 30, 2017

Equity [Abstract]

Shareholders' Equity (Deficit)

Note 10.  Shareholders’ Equity

Changes in shareholders’ equity

Changes in shareholders’ equity were as follows for the six months ended April 30, 2017:

	Total Shareholders’ Equity
Balance as of October 31, 2016	$	114,396
Share-based compensation		2,226
Sale of common stock, net		12,427
Stock issued under benefit plans net of taxes paid upon vesting of restricted stock awards		14
Preferred dividends – Series B		(1,600	)
Other comprehensive income -  foreign currency translation adjustments		(38	)
Net loss		(26,923	)
Balance as of April 30, 2017	$	100,502

Common Stock Sales

The Company may sell common stock on the open market from time to time under an effective shelf registration statement.  The proceeds of these sales is used for general corporate purposes or to pay obligations related to the Company’s outstanding Series 1 and Series B preferred shares. During the six months ended April 30, 2017, the Company sold 7.2 million shares of the Company’s common stock at prevailing market prices through periodic trades on the open market and raised approximately $12.4 million, net of fees.

Outstanding Warrants

On July 12, 2016, the Company closed on a registered public offering of securities to a single institutional investor pursuant to a placement agent agreement with J.P. Morgan Securities LLC.  In conjunction with the offering the Company issued 7,680,000 Series A Warrants, all of which remain outstanding as of April 30, 2017, at an exercise price of $5.83 per share.  The Company also issued 4,926,000 prefunded Series B Warrants.  There were 3,826,000 prefunded Series B Warrants outstanding as of October 31, 2016, all of which have been exercised during the six months ended April 30, 2017.  The remaining Series A Warrants continue to qualify for permanent equity accounting treatment.

On July 30, 2014, the Company issued a warrant to NRG in conjunction with the entry into a Securities Purchase Agreement for the sale of common stock.  Pursuant to the warrant agreement, NRG has the right to purchase up to 0.2 million shares of the Company’s common stock at an exercise price of $40.20 per share. The warrants continue to qualify for permanent equity accounting treatment and expire on July 30, 2017.