OPTIONS AND WARRANTS (Tables)

9 Months Ended

Jul. 31, 2012

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of option activity and movement during the three and nine months ended at July 31, 2012 and 2011, respectively, are as follow:

	Options		Weighted average exercise price		Aggregate intrinsic value		Weighted average remaining contractual term
For the three months ended July 31, 2012
Outstanding at May 1, 2012		284,998	$	1.96	$	381,886		4.15
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at July 31, 2012		284,998	$	1.96	$	381,886		3.90
For the three months ended July 31, 2011
Outstanding at May 1, 2011		270,000	$	2.26	$	426,083		4.81
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at July 31, 2011		270,000	$	2.26	$	426,083		4.62

	Options		Weighted average exercise price		Aggregate intrinsic value		Weighted average remaining contractual term
For the nine months ended July 31, 2012
Outstanding at November 1, 2011		284,998	$	1.96	$	381,886		4.64
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at July 31, 2012		284,998	$	1.96	$	381,886		3.90
For the nine months ended July 31, 2011
Outstanding at November 1, 2010		70,000	$	2.57	$	166,832		2.45
Granted		200,000		2.15		259,251		5.38
Exercised		-		-		-		-
Forfeited or expired		-		-		-		-
Outstanding at July 31, 2011		270,000	$	2.26	$	426,083		4.62

Schedule of Nonvested Share Activity [Table Text Block]

A summary of the status of the Company’s non-vested options as of July 31, 2012 and 2011, respectively, and movements during the three and nine months then ended are as follow:

	Options			Weighted average granted date fair value
For the three months ended July 31, 2012
Non-vested at May 1, 2012		181,668		$	1.60
Granted		-			-
Vested		(4,166	)		0.68
Forfeited or expired		-			-
Non-vested at July 31, 2012		177,502		$	1.17
For the three months ended July 31, 2011
Non-vested at May 1, 2011		240,835		$	2.22
Granted		-			-
Vested		-			-
Forfeited or expired		-			-
Non-vested at July 31, 2011		240,835		$	2.22

	Options			Weighted average granted date fair value
For the nine months ended July 31, 2012
Non-vested at November 1, 2011		250,000		$	1.17
Granted		-			-
Vested		(72,498	)		1.19
Forfeited or expired		-			-
Non-vested at July 31, 2012		177,502		$	1.17
For the nine months ended July 31, 2011
Non-vested at November 1, 2010		58,334		$	2.57
Granted		200,000			2.15
Vested		(17,499	)		2.57
Forfeited or expired		-			-
Non-vested at July 31, 2011		240,835		$	2.22

Schedule Of Warrant Activity [Table Text Block]

A summary of warrant activity and movement during the three and nine months ended at July 31, 2012 and 2011, respectively, are as follow:

	Warrants		Average exercise price
For the three months ended July 31, 2012
Outstanding warrants at May 1, 2012		1,231,428	$	1.03
Warrants granted		-		-
Exercised		-		-
Expired/cancelled		1,071,428		0.88
Outstanding warrants at July 31, 2012		160,000	$	2.00
For the three months ended July 31, 2011
Outstanding warrants at May 1, 2011		1,231,428	$	1.03
Warrants granted		-		-
Exercised		-		-
Expired/cancelled		-		-
Outstanding warrants at July 31, 2011		1,231,428	$	1.03

	Warrants		Average exercise price
For the nine months ended July 31, 2012
Outstanding warrants at November 1, 2011		1,231,428	$	1.03
Warrants granted		-		-
Exercised		-		-
Expired/cancelled		1,071,428		0.88
Outstanding warrants at July 31, 2012		160,000	$	2.00
For the nine months ended July 31, 2011
Outstanding warrants at November 1, 2010		1,231,428	$	1.03
Warrants granted		-		-
Exercised		-		-
Expired/cancelled		-		-
Outstanding warrants at July 31, 2011		1,231,428	$	1.03

Schedule Of Warrants Outstanding [Table Text Block]

Information regarding the warrants outstanding at July 31, 2012 and 2011 are summarized as below:

	Warrants Outstanding		Weighted average remaining contractual life(years)		Weighted average exercise price
Warrants outstanding at July 31, 2012		160,000		0.65		2.00
		1,071,428		0.79	$	0.88
		160,000		1.65		2.00
Warrants outstanding at July 31, 2011		1,231,428		0.90	$	1.03

Omnibus 2003 Plan A [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The valuation was based on the assumptions noted in the following table.

Expected volatility	96.46	%
Expected dividends	0.00	%
Expected term (in years)	3 years
Risk-free rate	1.06	%

Omnibus 2003 Plan B [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The valuation was based on the assumptions noted in the following table.

Expected volatility	127.76	%
Expected dividends	0.00	%
Expected term (in years)	3 years
Risk-free rate	1.12	%