6. FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Jan. 31, 2013

Fair Value, Measurements, Recurring [Member]

Schedule of Fair Value of Assets and Liabilities

The Company’s assets and liabilities measured at fair value on a recurring basis are as follows:

	Level 1		Level 2		Level 3
Liabilities:
January 31, 2013
Unrealized loss on derivatives	$	-	$	69,265	$	-
October 31, 2012
Unrealized loss on derivatives	$	-	$	127,180	$	-

Fair Value, Measurements, Nonrecurring [Member]

Schedule of Fair Value of Assets and Liabilities

The Company’s assets and liabilities measured at fair value on a nonrecurring basis are as follows:

	Level 1		Level 2		Level 3
Assets:
October 31, 2012
Goodwill (a)	$	-	$	-	$	12,156,790

(a)   In accordance with FASB Accounting Standards Codification Subtopic 350-20, goodwill with a carrying amount of $32,123,294 was written down to its implied fair value of $12,156,790, resulting in an impairment charge of $19,966,504, which was included in earnings for the period.