Warrants
6 Months Ended
Apr. 30, 2012
Warrants [Abstract]  
Warrants

NOTE 15 - WARRANTS

A summary of warrant activity for the six months ended April 30, 2012 is as follows:

          Weighted    
        Weighted Average    
        Average Remaining   Aggregate
        Exercise Contractual   Intrinsic
Warrants Shares     Price Life (Years)   Value
 
Outstanding at November 1, 2011 1,803,956   $ 1.30      
Forfeited or expired (581,000 )   3.00      
Outstanding at April 30, 2012 1,222,956   $ 0.49 0.28 $ 63,318
Exercisable at April 30, 2012 1,222,956   $ 0.49 0.28 $ 63,318

 

No warrants were exercised during the six months ended April 30, 2012.

During the six months ended April 30, 2011, warrants to acquire 1,333,353 shares of common stock with an intrinsic value of $775,712 were exercised at an average exercise price of $0.50 per share.

Summarized information about warrants outstanding and exercisable at April 30, 2012 is as follows:

 

  Warrants Outstanding   Warrants Exercisable
 
      Weighted          
      Ave.   Weighted     Weighted
      Remaining   Average     Average
  Exercise Number Contractual   Exercise Number   Exercise
  Price Outstanding Life (Years)   Price Exercisable   Price
$ 0.34 – 0.50 1,222,956 0.28 $ 0.49 1,222,956 $ 0.49