8. COMPENSATION PLANS	6 Months Ended
Apr. 30, 2014
Compensation and Retirement Disclosure [Abstract]
8. Compensation Plans	The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is recognized over the period during which an employee is required to provide services in exchange for the award, the requisite service period (usually the vesting period). The Company provides an estimate of forfeitures at the initial date of grant. The Company has stock-based compensation plans under which incentive and non-qualified stock options and restricted shares are granted. In April 1998, the Company’s stockholders approved the 1998 Incentive and Non-Statutory Stock Option Plan which was subsequently amended. This plan provided for issuances of options to purchase the Company’s common stock under the administration of the compensation committee of the Board of Directors. The intent of the plan was to reward options to officers, employees, directors, and other individuals providing services to the Company. As of April 30, 2014, there were 75,500 options outstanding under this plan. As of April 10, 2013, no further options may be granted under the 1998 Plan. In April 2004, the Company’s stockholders approved the 2004 Stock Incentive Plan. The plan provided for issuances of awards of up to 250,000 restricted or unrestricted shares of the Company’s common stock, or incentive or non-statutory stock options to purchase such common stock. Of the total amount of shares authorized under this plan, 172,250 options are outstanding and 26,000 restricted shares have been granted. As of February 18, 2014, no further options may be granted under the 2004 plan. In April 2014, the Company’s stockholders approved the 2014 Stock Incentive Plan. The plan provided for issuances of awards of up to 500,000 restricted or unrestricted shares of the Company’s common stock, or incentive or non-statutory stock options to purchase such common stock. Of the total amount of shares authorized under this plan, no options have been granted and 500,000 shares are available for grant at April 30, 2014. The options issued under the plans generally vest in periods up to five years based on the continuous service of the recipient and have 10 year contractual terms. Share awards generally vest over one year. Option and share awards provide for accelerated vesting if there is a change in control of the Company (as defined in the plans). There were a total of three option grants, for a total of 15,000 shares, that expired or were forfeited in the first six months of fiscal 2014 and three option grants, for a total of 58,000 shares that expired in the first six months of fiscal 2013. There were 5.000 option shares forfeited in the second quarter of 2014 and no expirations or forfeitures of option grants in the three month in the second quarter of 2013. Other than the expirations and forfeitures, there was no activity related to stock options and outstanding stock option balances or other equity based compensation during the three and six month periods ended April 30, 2014 and 2013. The Company did not grant any equity based compensation during the three and six months ended April 30, 2014 and 2013. The 201,500 outstanding stock options that were exercisable as of April 30, 2014 ranged in exercise size price from $1.80 to $2.36 per share, had a weighted average contractual life of .74 years, weighted average exercise price of $2.33, and no intrinsic value. Outstanding options were granted with lives of 10 years and provide for vesting over a term of 0-5 years. As of April 30, 2014, there were 46,250 unvested options and there is $22,726 of unrecognized future compensation expense that will be recognized over the next five years based on the vesting period of the options. Compensation is determined using the Black-Scholes model and the simplified method to derive the expected term of the options and historical volatility over the past five years. All incentive and non-qualified stock option grants had an exercise price equal to the market value of the underlying common stock on the date of grant.

8. COMPENSATION PLANS

6 Months Ended

Apr. 30, 2014

Compensation and Retirement Disclosure [Abstract]

The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is recognized over the period during which an employee is required to provide services in exchange for the award, the requisite service period (usually the vesting period). The Company provides an estimate of forfeitures at the initial date of grant.

The Company has stock-based compensation plans under which incentive and non-qualified stock options and restricted shares are granted. In April 1998, the Company’s stockholders approved the 1998 Incentive and Non-Statutory Stock Option Plan which was subsequently amended. This plan provided for issuances of options to purchase the Company’s common stock under the administration of the compensation committee of the Board of Directors. The intent of the plan was to reward options to officers, employees, directors, and other individuals providing services to the Company. As of April 30, 2014, there were 75,500 options outstanding under this plan. As of April 10, 2013, no further options may be granted under the 1998 Plan.

In April 2004, the Company’s stockholders approved the 2004 Stock Incentive Plan. The plan provided for issuances of awards of up to 250,000 restricted or unrestricted shares of the Company’s common stock, or incentive or non-statutory stock options to purchase such common stock. Of the total amount of shares authorized under this plan, 172,250 options are outstanding and 26,000 restricted shares have been granted. As of February 18, 2014, no further options may be granted under the 2004 plan.

In April 2014, the Company’s stockholders approved the 2014 Stock Incentive Plan. The plan provided for issuances of awards of up to 500,000 restricted or unrestricted shares of the Company’s common stock, or incentive or non-statutory stock options to purchase such common stock. Of the total amount of shares authorized under this plan, no options have been granted and 500,000 shares are available for grant at April 30, 2014.

The options issued under the plans generally vest in periods up to five years based on the continuous service of the recipient and have 10 year contractual terms. Share awards generally vest over one year. Option and share awards provide for accelerated vesting if there is a change in control of the Company (as defined in the plans).

There were a total of three option grants, for a total of 15,000 shares, that expired or were forfeited in the first six months of fiscal 2014 and three option grants, for a total of 58,000 shares that expired in the first six months of fiscal 2013. There were 5.000 option shares forfeited in the second quarter of 2014 and no expirations or forfeitures of option grants in the three month in the second quarter of 2013. Other than the expirations and forfeitures, there was no activity related to stock options and outstanding stock option balances or other equity based compensation during the three and six month periods ended April 30, 2014 and 2013. The Company did not grant any equity based compensation during the three and six months ended April 30, 2014 and 2013.

The 201,500 outstanding stock options that were exercisable as of April 30, 2014 ranged in exercise size price from $1.80 to $2.36 per share, had a weighted average contractual life of .74 years, weighted average exercise price of $2.33, and no intrinsic value. Outstanding options were granted with lives of 10 years and provide for vesting over a term of 0-5 years. As of April 30, 2014, there were 46,250 unvested options and there is $22,726 of unrecognized future compensation expense that will be recognized over the next five years based on the vesting period of the options. Compensation is determined using the Black-Scholes model and the simplified method to derive the expected term of the options and historical volatility over the past five years.

All incentive and non-qualified stock option grants had an exercise price equal to the market value of the underlying common stock on the date of grant.