10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark one)
x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
	ACT OF 1934
For the Quarterly Period Ended April 30, 2015
Or
	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
	ACT OF 1934
For the transition period from ________________ to ________________
Commission File Number: 000-53861

AURUM, INC.

(Exact name of registrant as specified in its charter)

Delaware	27-1728996
(State or Other Jurisdiction	(I.R.S. Employer
of Incorporation)	Identification No.)
Level 1A, 42 Moray Street
Southbank, Victoria, Australia	3006
(Address of Principal Executive Offices)	(Zip Code)
Registrant’s telephone number, including area code: 001 (613) 8532 2878

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “accelerated filer,” “large accelerated filer” and “smaller reporting company” in Rule 12-b2 of the Exchange Act.

(Check one): Large accelerated filer Accelerated filer Non-accelerated filer  Smaller reporting company 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12-b2 of the Exchange Act).  Yes  No

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. There were 135,850,000 outstanding shares of Common Stock as of September 22, 2017.

Table Of Contents

			PAGE NO
PART I.	FINANCIAL INFORMATION
Item 1	Financial Statements		2
Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations		12
Item 3	Quantitative and Qualitative Disclosure about Market Risk		15
Item 4	Controls and Procedures		15
PART II	OTHER INFORMATION
Item 1	Legal Proceedings		16
Item 1A	Risk Factors		16
Item 2	Unregistered Sales of Equity Securities and Use of Proceeds		16
Item 3	Defaults Upon Senior Securities		16
Item 4	Mine Safety Disclosures		16
Item 5	Other Information		16
Item 6	Exhibits		16
SIGNATURES			17
EXHIBIT INDEX			18
Exh. 31.1		Certification	19
Exh. 31.2		Certification	20
Exh. 32.1		Certification	21
Exh. 32.2		Certification	22

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PART I – FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

Introduction to Interim Consolidated Financial Statements.

The interim consolidated financial statements included herein have been prepared by Aurum, Inc. (“Aurum” or the “Company”) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (The “Commission”). Certain information and footnote disclosure normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in United States of America (“US GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading.

The interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended October 31, 2014.

In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary to present fairly the financial position of the Company as of April 30, 2015, the results of its operations for the three and six month periods ended April 30, 2015 and April 30, 2014, and the changes in its cash flows for the six month periods ended April 30, 2015 and April 30, 2014, have been included. The results of operations for the interim periods are not necessarily indicative of the results for the full year.

The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

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AURUM, INC.

Consolidated Balance Sheet

	April 30, 2015 US$ (unaudited)			October 31, 2014 US$
ASSETS
Current Assets:
Cash		1,194			3,073
Prepayments		-			963
Total Current Assets		1,194			4,036
Total Assets		1,194			4,036
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current Liabilities:
Accounts payable and accrued expenses		258,955			248,841
Total Current Liabilities		258,905			248,841
Non-Current Liabilities:
Advances from affiliates		6,655,544			7,257,926
Total Non-Current Liabilities		6,655,544			7,257,926
Total Liabilities		6,914,499			7,506,767
Stockholders’ Equity (Deficit) :
Common stock: $.0001 par value 500,000,000 shares authorised, and 105,600,000 shares issued and outstanding at April 30, 2015 and October 31, 2014		10,560			10,560
Additional Paid-in-Capital		2,740,207			2,740,207
Retained (Deficit)		(9,664,072	)		(10,253,498	)
Total Stockholders’ Equity (Deficit)		(6,913,305	)		(7,502,731	)
Total Liabilities and Stockholders’ Equity (Deficit)		1,194			4,036
See Notes to Consolidated Financial Statements

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AURUM, INC.

Consolidated Statements of Operations

(Unaudited)

	For the three months ended April 30, 2015			For the three months ended April 30, 2014			For the six months ended April 30, 2015			For the six months ended April 30, 2 014
	US$			US$			US$			US$
Revenues	$	-		$	-		$	-		$	-
Costs and expenses:
Legal, accounting and professional		16,425			10,044			26,422			20,121
Administration expenses		4,662			44,542			21,127			94,072
Exploration expenditure		-			74,758			-			241,810
Interest expense		4			-			10			-
Total costs and expenses		21,091			129,344			47,559			356,003
(Loss) from operations		(21,091	)		(129,344	)		(47,559	)		(356,003	)
Other income		8,837			-			8,837			-
Foreign currency exchange gain (loss)		(190,789	)		(399,453	)		628,148			172,354
Income/(Loss) before income taxes		(203,043	)		(528,797	)		589,426			(183,649	)
Provision for income taxes		-			-			-			-
Net income (loss)		(203,043	)		(528,797	)		589,426			(183,649	)
Basic and diluted net income (loss) per common equivalent shares		(0.00	)		(0.01	)		0.01			(0.00	)
Weighted average number of common equivalent shares (in 000’s)		105,600			105,600			105,600			105,600
See Notes to Consolidated Financial Statements

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AURUM, INC.

Consolidated Statements of Stockholders’ Equity (Deficit)

(Unaudited)

	Shares		Common Stock Amount		Additional Paid-in Capital		Retained (Deficit)			Total
			US$		US$		US$			US$
Balance, October 31, 2013		105,600,000		10,560		2,740,207		(10,439,775	)		(7,689,008	)
Net income		-		-		-		186,277			186,277
Balance, October 30, 2014		105,600,000		10,560		2,740,207		(10,253,498	)		(7,502,731	)
Net income		-		-		-		589,426			589,426
Balance, April 30, 2015		105,600,000		10,560		2,740,207		(9,664,072	)		(6,913,305	)

See Notes to Consolidated Financial Statements

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AURUM, INC.

Consolidated Statements of Cash Flows

(Unaudited)

	Six months ended April 30, 2015 US$			Six months ended April 30, 2014 US$
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)		589,426			(183,649	)
Adjustments to reconcile net income (loss) to net cash (used)
in operating activities:
Foreign currency exchange (gain)		(628,148	)		(172,354	)
Depreciation		-			423
Net change in:
Prepayments		963			1,739
Receivables		-			71
Accounts payable and accrued expenses		10,114			148,077
Net Cash (Used) in Operating Activities		(27,645	)		(205,693	)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings from affiliate		24,721			193,626
Net Cash Provided by Financing Activities		24,721			193,626
Effect of exchange rate  on cash		1,045			1,651
Net (decrease) in cash		(1,879	)		(10,416	)
Cash at beginning of period		3,073			12,797
Cash at end of period		1,194			2,381

See Notes to Consolidated Financial Statements

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AURUM, INC.

Notes to Consolidated Financial Statements

April 30, 2015

(unaudited)

(1) ORGANIZATION AND BUSINESS

Aurum, Inc. ("Aurum” or the “Company") is a Delaware corporation, originally incorporated in Florida as Liquid Financial Engines, Inc. The principal stockholder of Aurum is Golden Target Pty Ltd., an Australian corporation (“Golden”), which owned 96.21% of Aurum as of April 30, 2015.

On January 20, 2010, the Company re-incorporated in the state of Delaware (the “Reincorporation”) through a merger involving Liquid Financial Engines, Inc. (“Liquid”) and Aurum, Inc., a Delaware Corporation that was a wholly owned subsidiary of Liquid. The Reincorporation was effected by merging Liquid with Aurum, with Aurum being the surviving entity. For financial reporting purposes Aurum is deemed a successor to Liquid.

In July 2009, Golden acquired a 96% interest in Aurum from certain stockholders. In connection therewith, the Company appointed a new President/Chief Executive Officer and Chief Financial Officer/Secretary and a new sole Director. The sole director and stockholder of Golden is also the President of the Company.

Commencing August 2009, the Company decided to focus on mineral exploration for gold and copper in the Lao Peoples Democratic Republic (Lao P.D.R or Laos).

In December 2010, the Company executed a Management and Shareholders Agreement with Argonaut Overseas Investments Ltd (“AOI”), an indirectly wholly owned Subsidiary of Argonaut Resources N.L., in respect to Argonaut’s 70% held Century Concession in Laos. The agreement appointed Aurum as the manager of the Century Thrust Joint Venture Agreement (“Joint Venture”) and the Company had the right to earn 72.86% of AOI’s interest in the Joint Venture which was equivalent to a 51% beneficial interest in the Century Concession.

The Century Concession expired in fiscal 2014 and was not renewed. As a result, the Company no longer has any exploration interests in Laos.

The Company has now commenced a search for new projects that the Company may be able to acquire an interest in.

The Company’s ability to continue operations for the foreseeable future is dependent upon future funding from affiliated entities, capital raisings, or its ability to commence revenue producing operations and positive cash flows, however there can be no assurance that the Company will be successful in these efforts.

(2) RECENT ACCOUNTING PRONOUNCEMENTS

The Company has implemented all new accounting pronouncements that are in effect and applicable to the Company. These pronouncements did not have any material impact on the consolidated financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

(3) GOING CONCERN

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of Aurum as a going concern. Aurum has incurred net losses since inception and may continue to incur substantial and increasing losses for the next several years, all of which raises substantial doubt as to its ability to continue as a going concern.

In addition, Aurum is reliant on loans and advances from corporations affiliated with the President of Aurum. Based on discussions with these affiliate companies, Aurum believes this source of funding will continue to be available. Other than the arrangements noted above, Aurum has not confirmed any other arrangement for ongoing funding. As a result Aurum may be required to raise funds by additional debt or equity offerings in order to meet its cash flow requirements during the forthcoming year.

The retained deficit of the Company from inception (September 2008) through April 30, 2015 amounted to approximately $9.7 million.

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(4) AFFILIATE TRANSACTIONS

The Company entered into an agreement with AXIS Consultants Pty Ltd (“AXIS”) to provide management and administration services to the Company. AXIS is affiliated through common management. The Company is one of nine affiliated companies to which AXIS provides services. Each of the companies has some common Directors, officers and shareholders. Currently, there are no material arrangements or planned transactions between the Company and any of the affiliated companies other than AXIS.

During the six months ended April 30, 2015, AXIS provided services in accordance with the services agreement, incurred direct costs on behalf of the Company and provided funding of $16,660. During the six months ended April 30, 2015, the foreign exchange effect on the amounts owed to affiliates was a gain of $627,103. The amounts owed to AXIS as of April 30, 2015 and October 31, 2014 is $6,423,044 and $7,025,426, respectively, and are reflected in non-current liabilities - advance from affiliates. At April 30, 2015, the Company owed the former Managing Director of its Laos operation $232,500 (2014: $232,500). During the six months ended April 30, 2015 and 2014, the affiliates have agreed not to charge interest.

The Company intends to repay these amounts with funds raised either via additional debt or equity offerings. Both affiliates have agreed not to call the advance within the next twelve months (refer footnote 11 – Subsequent Events) and accordingly the Company has classified the amounts payable as non-current in the accompanying balance sheet.

(5) INCOME TAXES

Aurum files its income tax returns on an accrual basis.

The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of FASB ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the consolidated financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of April 30, 2015, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the consolidated financial statements.

The Company is required to file tax returns in the United States and a summary of the deferred tax asset at April 30, 2015 is as follows:.

	USA $			Total $
Deferred tax assets
Net operating loss carry-forward		827,643			827,643
Less valuation allowance		(827,643	)		(827,643	)
Net deferred taxes		-			-

The Company has available net operating loss carry forwards as of April 30, 2015, which are subject to limitations, aggregating approximately $2,364,000 which would expire in years 2028 through 2033.

The Company’s tax returns for all years since fiscal 2012 remain open to examination by the respective tax authorities.  There are currently no tax examinations in progress.

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(6) STOCKHOLDERS’ EQUITY

In September 2008, 96,000,000 shares of common stock were issued to the Company’s founder raising $9,000.

In March 2009, the Company raised $12,000 in a registered public offering of 9,600,000 shares of common stock share pursuant to a prospectus dated January 30, 2009.

(7) ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN

(i) Effective December 13, 2010, the Company issued 2,500,000 options over shares of Common Stock to employees under the 2010 Equity Incentive Plan that has been adopted by the Directors of the Company. The options vested 1/3 on December 13, 2010, 1/3 vested on November 17, 2011 and the balance vested on November 17, 2012. The exercise price of the options is US$1.00 and the latest exercise date for the options is November 17, 2020.

The Company has accounted for all options issued based upon their fair value using the Binomial pricing model.

An external consultant has calculated the fair value of the 2,500,000 options using the Binomial valuation method using the following inputs:

Grant date	Dec 13, 2010	Dec 13, 2010	Dec 13, 2010
Grant date share price	US$1.10	US$1.10	US$1.10
Vesting date	Dec 13, 2010	Nov 17, 2011	Nov 17, 2012
Expected life in years	4.5	5.0	5.5
Risk-free rate	1.91%	1.91%	1.91%
Volatility	95%	95%	95%
Exercise price	US$1.00	US$1.00	US$1.00
Call option value	US$0.78	US$0.81	US$0.83

At October 31, 2014 and April 30, 2015, there are 2,500,000 options outstanding with an option price per share and weighted average exercise price of US$1.00.  The exercise price is US$1.00 per option. The weighted average per option fair value of options granted during fiscal 2011 was US$0.81 and the weighted average remaining contractual life of those options at April 30, 2015 is 5 years. At April 30, 2015 there are 2,500,000 options exercisable.

As a result of the termination of the employee holding the options, the employee had a period of 90 days from the date of termination to exercise the options. The holder did not exercise the options therefore the options expired in May 2015.

(ii) In May 2011, the Company issued 750,000 options over shares of Common Stock to employees under the 2010 Equity Incentive Plan that has been adopted by the Directors of the Company. The options vested 1/3 upon grant date, 1/3 vested on February 1, 2012 and the balance vested on February 1, 2013. The exercise price of the options is US$1.00 and the latest exercise date for the options is February 1, 2018.

The Company has accounted for all options issued based upon their fair value using the Binomial pricing model.

As a result of the termination of the employee holding the options, the employee had a period of 90 days from the date of termination to exercise the options. The holder did not exercise the options therefore the options have expired in April 2014.

(8) FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company’s financial instruments consist of cash, receivables, accounts payable, accrued expenses and advances from affiliates. The carrying amounts of cash, receivables, accounts payables and accrued expenses approximates their fair values because of the short term maturities of those instruments. The fair value of advances from affiliates is not readily determinable as no similar market exists for these instruments and it doesn’t have a specified date of repayment.

9

(9) NET INCOME (LOSS) PER SHARE

Basic income (loss) per share is computed by dividing net profit (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Options to acquire 3,250,000 shares of common stock were not included in the diluted weighted average shares outstanding as such effects would be anti-dilutive.

(10) CASH

The Company maintains cash deposits with financial institutions in Australia and in Laos (USD).  Cash deposits maintained in Australian dollars are translated into US dollars at the period end exchange rate with the related adjustment recognized in statements of operations.

(11) SUBSEQUENT EVENTS

The Company has evaluated significant events subsequent to the balance sheet date through the date the consolidated financial statements were issued and has determined that there were no subsequent events or transactions which would require recognition or disclosure in the consolidated financial statements.

In July 2015, the Company issued 30,000,000 shares of common stock to AXIS Consultants Pty Ltd as repayment of a debt of $5,057,776.

On April 1, 2016 the Company announced that it had entered into an agreement with an Israeli company, PayItSimple Ltd and its subsidiaries (PayItSimple) whereby the Company would invest $15 million directly into PayItSimple by September 5, 2016 to acquire a 30% interest in PayItSimple, and a further $7.5 million into PayItSimple over 18 months to acquire a further 10% interest in PayItSimple, taking its holding to 40% of interest in PayItSimple.  PayItSimple owns a business known as Splitit. On April 6, 2016 the Company terminated the proposed acquisition of PayItsimple.

On June 27, 2016 the Company announced that it had entered into a binding term sheet with the shareholders of an Israeli company, Humavox Ltd (Humavox), a company that creates wireless charging solutions. In accordance with the proposed acquisition of Humavox, Aurum would acquire 100% of the shares of Humavox and 100% of the warrants and options to acquire shares of Humavox in exchange for the issue of shares of common stock of Aurum representing 50% of the shares of common stock of Aurum post issue on a fully-diluted basis, including the investment of an amount of US$16 million in Humavox.  The investment would take place in unconditional instalments over a period of 24 months following the closing. The closing of the merger was subject to certain closing conditions, including the investment in Humavox of the first instalment of the investment in the amount of $5.5 million. On July 29, 2016 the Company terminated the proposed acquisition of Humavox.

In April 2016, the Company raised $38,329 through the private placement of 250,000 shares of common stock.

On July 19, 2017, the Company entered into a Term Sheet with Lior Wayn, Erez Glazer and Dr Guy Shalom, (collectively, the ‘’Sellers”)  for the acquisition of all of the issued shares of a medical technology business. The Company has a 120 day period to conduct due diligence and negotiate a formal share sale agreement.

The purchase price is up to USD$7,500,000 which is to be satisfied as follows:

a) The sum of USD$100,000 payable to the Sellers for due diligence expenses, 30 business days from the execution of the Term Sheet;

b)  A further USD$100,000 each month after the date in a) above for due diligence expenses, for 3 months,  payable to the Sellers for working capital purposes;

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c) An issue of fully paid ordinary shares of common stock of the Company to the value of USD$2,500,000 (less any payments made to the Sellers under (a) and (b) above) to the Sellers at an issue price of USD$0.22 per share of common stock (Consideration Shares);

d) The issue to the Sellers of shares of common stock to the equivalent to USD$2,500,000 at the issue price of USD$0.22, subject to the Sellers achieving sales revenue of USD$100,000 within twelve months after the first anniversary of Completion; and

e) The issue to the Sellers of shares of common stock to the equivalent to USD$2,500,000 at the issue price of USD$0.22, subject to the Sellers achieving sales revenue of USD$1,000,000 within twelve months after the first anniversary of Completion.

If the Transaction is terminated or is in the reasonable opinion of the Company unable to proceed at any point, the Vendors and the Sellers have agreed to convert any monies paid to the Sellers under (a) and (b) above into convertible securities in the Sellers.

As part of the agreement and as a condition to completion, the Company will raise USD$2,500,000.

Pending completion, the Sellers are required to carry on business in the ordinary course.

In July 2017, the Company raised $38,329 through the private placement of 250,000 shares of common stock.

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Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

General

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the Consolidated financial statements and accompanying notes and the other financial information appearing elsewhere in this report. This report contains numerous forward-looking statements relating to our business. Such forward-looking statements are identified by the use of words such as believes, intends, expects, hopes, may, should, plan, projected, contemplates, anticipates or similar words. Actual operating schedules, results of operations and other projections and estimates could differ materially from those projected in the forward-looking statements.

Overview

Aurum, Inc. is an exploration stage company and was incorporated in Florida on September 29, 2008, to develop and market financial software. In July 2009, Golden Target Pty Ltd, an Australian corporation ("Golden") acquired a 96% interest in Aurum from Daniel McKelvey and certain other stockholders. Commencing August 2009, the Company decided to focus on mineral exploration for gold and copper in the Lao Peoples Democratic Republic. The Company is considered to be in the exploration stage. On January 20, 2010, the Company re-incorporated in the State of Delaware through a merger involving Liquid Financial Engines, Inc. (:Liquid”) and Aurum, Inc., with Aurum being the surviving entity.

In December 2010, the Company executed a Management and Shareholders Agreement with Argonaut Overseas Investments Ltd (“AOI”), an indirectly wholly owned Subsidiary of Argonaut Resources N.L., in respect to Argonaut’s 70% held, 55,105 acre Century Concession in Laos. For the purpose of the Company’s financial reporting status, Aurum is deemed a successor to Liquid.

The agreement appointed Aurum as the manager of the Century Thrust Joint Venture Agreement, which existed between Argonaut and two other parties, and gives the Company the right to earn 72.86% of AOI’s interest in the Joint Venture which was equivalent to a 51% beneficial interest in the Century Concession. In order to acquire this interest, Aurum was to spend US$6.5 million on exploration within the five year period ending December 10, 2015. The Century Concession expired in fiscal 2014 and was not renewed.

We have incurred net losses since our inception and may continue to incur substantial and increasing losses for the next several years. We have incurred accumulated losses of approximately $9.7 million which was funded primarily by the sale of equity securities and advances from affiliates.

RESULTS OF OPERATIONS

Three Months Ended April 30, 2015 vs. Three Months Ended April 30, 2014.

Costs and expenses decreased from $129,344 in the three months ended April 30, 2014 to $21,091 in the three months ended April 30, 2015. The decrease in costs and expenses is a net result of:

a) an increase in legal, accounting and professional expense from $10,044 for the three months ended April 30, 2014 to $16,425 for the three months ended April 30, 2015, primarily due to a decrease in share registry expenses, accounting and legal fees.

b) a decrease in administrative expenses from $44,542 in the three months ended April 30, 2014 to $4,662 in the three months ended April 30, 2015, is primarily as a result of a decrease in employment costs and insurance expense.

c) a decrease in exploration expenditure expense from $74,758 for the three months ended April 30, 2014 to $nil for the three months ended April 30, 2015. The Century Concession expired in fiscal 2014. The exploration costs include salaries for both staff and contract field staff, accommodations, Laos office costs, field work expenditure and reviewing data on exploration targets in Laos.

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As a result of the foregoing, the loss from operations decreased from $129,344 for the three months ended April 30, 2014 to $21,091 for the three months ended April 30, 2015.

Other income increased for $nilfor the three months ended April 30, 2014 to $8,837 for the three months ended April 30, 2015.

The Company recorded a foreign currency exchange loss of $190,789 for the three months ended April 30, 2015 compared to a foreign currency exchange loss of $399,453 for the three months ended April 30, 2014, primarily due to revaluation of the advance from affiliate which is denominated in Australian dollars.

The net loss was $203,423 for the three months ended April 30, 2015 compared to a net loss of $528,797 for the three months ended April 30, 2014.

Six Months Ended April 30, 2015 vs. Six Months Ended April 30, 2014.

Costs and expenses decreased from $356,003 in the six months ended April 30, 2014 to $47,558 in the six months ended April 30, 2015. The decrease in costs and expenses is a net result of:

a) an increase in legal, accounting and professional expense from $20,121 for the six months ended April 30, 2014 to $26,422 for the six months ended April 30, 2015, primarily as a result of an increase in accounting and legal fees.

b) a decrease in administrative expenses from $94,072 in the six months ended April 30, 2014 to $21,127 in the six months ended April 30, 2015, primarily due to a decrease in employment costs, IT support costs and insurance expense.

c) a decrease in exploration expenditure expense from $241,810 for the six months ended April 30, 2014 to $nil for the six months ended April 30, 2015. The Century Concession expired in fiscal 2014. The exploration costs include salaries for both staff and contract field staff, accommodations, Laos office costs, field work expenditure and reviewing data on exploration targets in Laos.

As a result of the foregoing, the loss from operations decreased from $356,003 for the six months ended April 30, 2014 to $47,558 for the six months ended April 30, 2015.

Other income increased from $nilfor the six months ended April 30, 2014 to $8,837 for the six months ended April 30, 2015.

The Company recorded a foreign currency exchange gain of $172,354 for the six months ended April 30, 2014 compared to a foreign currency exchange gain of $628,148 for the six months ended April 30, 2015, primarily due to revaluation of the advance from affiliate which is denominated in Australian dollars.

The net income was $589,426 for the six months ended April 30, 2015 compared to a net loss of $183,649 for the six months ended April 30, 2014.

Liquidity and Capital Resources

For the six months ended April 30, 2015, net cash used in operating activities was $27,645 primarily consisting of the net loss from operations of $589,426, adjusted for non-cash items being foreign currency gain of $628,148, a decrease in prepayments of $963, and an increase in accounts payable and accrued expenses of $10,114.

Net cash used in investing activities was $nil; and net cash provided by financing activities was $24,721 being advances from affiliates.

As of April 30, 2015 the Company has short term obligations of $258,955 comprising accounts payable and accruals.

The Company has $1,194 in cash at April 30, 2015.

In July 2015, the Company issued 30,000,000 shares of common stock to AXIS Consultants Pty Ltd as repayment of a debt of $5,057,776.

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The Company’s ability to continue operations for the foreseeable future is dependent upon future funding from affiliated entities, capital raisings, or its ability to commence revenue producing operations and positive cash flows, of which there can be no assurance.

The Company continues to search for additional sources of capital, as and when needed; however, there can be no assurance funding will be successfully obtained. Even if it is obtained, there is no assurance that it will not be secured on terms that are highly dilutive to existing shareholders.

Information Concerning Forward Looking Statements

This report and other reports, as well as other written and oral statements made or released by us, may contain forward looking statements. Forward looking statements are statements that describe, or that are based on, our current expectations, estimates, projections and beliefs. Forward looking statements are based on assumptions made by us, and on information currently available to us. Forward-looking statements describe our expectations today of what we believe is most likely to occur or may be reasonably achievable in the future, but such statements do not predict or assure any future occurrence and may turn out to be wrong. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. The words "believe", "anticipate", "intend", "expect", "estimate", "project", "predict", "hope", "should", "may", and "will", other words and expressions that have similar meanings, and variations of such words and expressions, among others, usually are intended to help identify forward-looking statements.

Forward-looking statements are subject to both known and unknown risks and uncertainties and can be affected by inaccurate assumptions we might make.  Risks, uncertainties and inaccurate assumptions could cause actual results to differ materially from historical results or those currently anticipated.  Consequently, no forward-looking statement can be guaranteed.  The potential risks and uncertainties that could affect forward looking statements include, but are not limited to:

● The risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2014,

● The risks and hazards inherent in the mineral exploration business (including environmental hazards, industrial accidents, weather or geologically related conditions),

● The uncertainties inherent in our exploratory activities, including risks relating to permitting and regulatory delays,

● The political, governmental and regulatory risks affecting mineral exploration activities in foreign countries,

● The effects of environmental and other governmental regulations, and

● Uncertainty as to whether financing will be available to enable further exploration and development.

● Movements in foreign exchange rates,

● Performance of information systems,

● Ability of the Company to hire, train and retain qualified employees,

● Our ability to enter into key exploration agreements and the performance of contract counterparties.

In addition, other risks, uncertainties, assumptions, and factors that could affect the Company's results and prospects are described in this Quarterly Report on Form 10-Q and in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2014, including under the heading “Risk Factors” and elsewhere herein and therein and may further be described in the Company's prior and future filings with the Securities and Exchange Commission and other written and oral statements made or released by the Company.

We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date of this document.  The information contained in this report is current only as of its date, and we assume no obligation to update any forward-looking statements.

14

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

At April 30, 2015, the Company had no outstanding loan facilities.

The Company reports in US$ and holds cash in Australian dollars. At April 30, 2015, this amounted to $1,194. A change in the exchange rate between the A$ and the US$ will have an effect on the amounts reported in the Company’s consolidated financial statements, and create a foreign exchange gain or loss. A movement of 1% in the A$ versus the US$ exchange rate will have a US$11 effect on the balance sheet and income statement.

Item 4. Controls and Procedures.

a) Disclosure Controls and Procedures

Our principal executive officer and our principal financial officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 as amended) as of the end of the period covered by this report. Based on that evaluation, such principal executive officer and principal financial officer concluded that, the Company’s disclosure controls and procedures were effective as of the end of the period covered by this report at the reasonable level of assurance.

b) Change in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the second quarter of fiscal 2015 that materially affected, or are reasonably likely to materially affect, internal control over financial reporting.

c) Other

We believe that a controls system, no matter how well designed and operated, cannot provide absolute assurance that the objectives of the controls system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. Therefore, a control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Our disclosure controls and procedures are designed to provide such reasonable assurances of achieving our desired control objectives, and our principal executive officer and principal financial officer have concluded, as of April 30, 2015, that our disclosure controls and procedures were effective in achieving that level of reasonable assurance.

15

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

Not Applicable

Item 1A. Risk Factors.

Not Applicable for smaller reporting company.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Not Applicable

Item 3. Defaults Upon Senior Securities.

Not Applicable

Item 4. Mine Safety Disclosure.

Not Applicable

Item 5. Other Information.

Not Applicable

Item 6. Exhibits.

(a) Exhibit No. Description

31.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 by Joseph Isaac Gutnick

31.2 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 by Peter James Lee

32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of Sarbanes-Oxley act of 2002 by Joseph Isaac Gutnick

32.2 Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of Sarbanes-Oxley act of 2002 by Peter James Lee

101 The following materials from the Aurum, Inc. Quarterly Report on Form 10-Q for the quarter ended April 30, 2014 formatted in Extensible Business Reporting Language (XBRL):  (i) the Balance Sheets, (ii) the Statements of Operations, (iii) Statement of Stockholders’ (Deficit), (iv) the Statements of Cash Flows and (v) related notes.

#101.INS XBRL Instance Document.

#101.SCH XBRL Taxonomy Extension Schema Document.

#101.CAL XBRL Taxonomy Extension Calculation Linkbase Document.

#101.LAB XBRL Taxonomy Extension Label Linkbase Document.

#101.PRE XBRL Taxonomy Extension Presentation Linkbase Document.

#101.DEF XBRL Taxonomy Extension Definition Linkbase Document.

_________________

# Filed herewith.  In accordance with Rule 406T of Regulation S-T, these interactive data files are deemed “not filed” for purposes of section 18 of the Exchange Act, and otherwise are not subject to liability under that section.

16

(FORM 10-Q)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Aurum, Inc.
By:	/s/ Joseph Gutnick
	Joseph Gutnick
	Chairman of the Board, President and Chief Executive Officer
	(Principal Executive Officer)
By:	/s/ Peter Lee
	Peter Lee
	Chief Financial Officer
	(Principal Financial Officer)

Date:September 22, 2017

17

EXHIBIT INDEX

Exhibit No.Description

31.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 by Joseph Isaac Gutnick

31.2 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 by Peter James Lee

32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of Sarbanes-Oxley act of 2002 by Joseph Isaac Gutnick

32.2 Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of Sarbanes-Oxley act of 2002 by Peter James Lee

101 The following materials from the Aurum, Inc. Quarterly Report on Form 10-Q for the quarter ended April 30, 2015 formatted in Extensible Business Reporting Language (XBRL): (i) the Balance Sheets, (ii) the Statements of Operations, (iii) Statement of Stockholders’ (Deficit), (iv) the Statements of Cash Flows and (v) related notes.

#101.INS XBRL Instance Document.

#101.SCH XBRL Taxonomy Extension Schema Document.

#101.CAL XBRL Taxonomy Extension Calculation Linkbase Document.

#101.LAB XBRL Taxonomy Extension Label Linkbase Document.

#101.PRE XBRL Taxonomy Extension Presentation Linkbase Document.

#101.DEF XBRL Taxonomy Extension Definition Linkbase Document.

_________________

# Filed herewith.  In accordance with Rule 406T of Regulation S-T, these interactive data files are deemed “not filed” for purposes of section 18 of the Exchange Act, and otherwise are not subject to liability under that section.

18

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECURITIES EXCHANGE ACT RULE 13A-14(a)

I, Joseph Gutnick, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Aurum, Inc. (“Registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) designed such internal controls over financial reporting, or caused such internal controls over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s Board of Directors:

(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date:September 22, 2017

/s/ Joseph I Gutnick
__________________________________
Name:	Joseph Gutnick
Title:	Chairman of the Board, President and Chief Executive Officer
	(Principal Executive Officer)

EX-31

Exhibit 31.2

CERTIFICATION PURSUANT TO

SECURITIES EXCHANGE ACT RULE 13A-14(a)

I, Peter Lee, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Aurum, Inc. (“Registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) designed such internal controls over financial reporting, or caused such internal controls over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s Board of Directors:

(a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date:September 22, 2017

/s/ Peter Lee
__________________________________
Name:	Peter Lee
Title:	Chief Financial Officer
	(Principal Financial Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report on Form 10-Q of Aurum, Inc. (the “Company”) for the six months ended April 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “report”), the undersigned, Joseph Gutnick, Chief Executive Officer of the Company, certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:

(1) The report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the report fairly presents, in all material respects, the financial condition and result of operations of the Company.

Date:September 22, 2017

/s/ Joseph I Gutnick

___________________________________

Joseph Gutnick

Chairman of the Board, President and Chief Executive Officer

(Principal Executive Officer)

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report on Form 10-Q of Aurum, Inc. (the “Company”) for the six months ended April 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “report”), the undersigned, Peter Lee, Chief Financial Officer of the Company, certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:

(1) The report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the report fairly presents, in all material respects, the financial condition and result of operations of the Company.

Date:September 22, 2017

/s/ Peter Lee

___________________________________

Peter Lee

Chief Financial Officer

(Principal Financial Officer)

XML

Document and Entity Information - shares	6 Months Ended
	Apr. 30, 2015	Sep. 22, 2017
Document And Entity Information
Entity Registrant Name	AURUM, INC.
Entity Central Index Key	0001450708
Trading Symbol	AURM
Amendment Flag	false
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Apr. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--10-31
Entity Common Stock, Shares Outstanding		135,850,000

XML

Consolidated Balance Sheets - USD ($)	Apr. 30, 2015	Oct. 31, 2014
Current Assets:
Cash	$ 1,194	$ 3,073
Prepayments		963
Total Current Assets	1,194	4,036
Total Assets	1,194	4,036
Current Liabilities:
Accounts Payable and Accrued Expenses	258,955	248,841
Total Current Liabilities	258,955	248,841
Non-Current Liabilities:
Advances from affiliates	6,655,544	7,257,926
Total Non-Current Liabilities	6,655,544	7,257,926
Total Liabilities	6,914,499	7,506,767
Stockholders Equity (Deficit):
Common stock: $.0001 par value 500,000,000 shares authorised, and 105,600,000 shares issued and outstanding at April 30, 2015 and October 31, 2014.	10,560	10,560
Additional Paid-in-Capital	2,740,207	2,740,207
Retained (Deficit)	(9,664,072)	(10,253,498)
Total Stockholders Equity (Deficit)	(6,913,305)	(7,502,731)
Total Liabilities and Stockholders Equity (Deficit)	$ 1,194	$ 4,036

XML

Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2015	Oct. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorised	500,000,000	500,000,000
Common stock, shares issued	105,600,000	105,600,000
Common stock, shares outstanding	105,600,000	105,600,000

XML

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014
Income Statement [Abstract]
Revenues
Costs and expenses:
Legal, accounting and professional	16,425	10,044	26,422	20,121
Administration expenses	4,662	44,542	21,127	94,072
Exploration expenditure		74,758		241,810
Interest expense	4		10
Total costs and expenses	21,091	129,344	47,559	356,003
(Loss) from operations	(21,091)	(129,344)	(47,559)	(356,003)
Other income	8,837		8,837
Foreign currency exchange gain (loss)	(190,789)	(399,453)	628,148	172,354
Income/(Loss) before income taxes	(203,043)	(528,797)	589,426	(183,649)
Provision for income taxes
Net income (loss)	$ (203,043)	$ (528,797)	$ 589,426	$ (183,649)
Basic and diluted net income (loss) per common equivalent shares	$ (0.00)	$ (0.01)	$ 0.01	$ (0.00)
Weighted average number of common equivalent shares	105,600	105,600	105,600	105,600

XML

Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained (Deficit) [Member]	Total
Beginning Balance at Oct. 31, 2013	$ 10,560	$ 2,740,207	$ (10,439,775)	$ (7,689,008)
Beginning Balance (in shares) at Oct. 31, 2013	105,600,000
Net income			186,277	186,277
Ending Balance at Oct. 31, 2014	$ 10,560	2,740,207	(10,253,498)	(7,502,731)
Ending Balance (in shares) at Oct. 31, 2014	105,600,000
Net income			589,426	589,426
Ending Balance at Apr. 30, 2015	$ 10,560	$ 2,740,207	$ (9,664,072)	$ (6,913,305)
Ending Balance (in shares) at Apr. 30, 2015	105,600,000

XML

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 589,426	$ (183,649)
Adjustments to reconcile net income (loss) to net cash (used) in operating activities:
Foreign currency exchange (gain)	(628,148)	(172,354)
Depreciation		423
Net change in:
Prepayments	963	1,739
Receivables		71
Accounts payable and accrued expenses	10,114	148,077
Net Cash (Used) in Operating Activities	(27,645)	(205,693)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings from affiliate	24,721	193,626
Net Cash Provided by Financing Activities	24,721	193,626
Effect of exchange rate on cash	1,045	1,651
Net (decrease) in cash	(1,879)	(10,416)
Cash at Beginning of Period	3,073	12,797
Cash at End of Period	$ 1,194	$ 2,381

XML

ORGANIZATION AND BUSINESS

6 Months Ended

Apr. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND BUSINESS

(1) ORGANIZATION AND BUSINESS

Aurum, Inc. ("Aurum” or the “Company") is a Delaware corporation, originally incorporated in Florida as Liquid Financial Engines, Inc. The principal stockholder of Aurum is Golden Target Pty Ltd., an Australian corporation (“Golden”), which owned 96.21% of Aurum as of April 30, 2015.

On January 20, 2010, the Company re-incorporated in the state of Delaware (the “Reincorporation”) through a merger involving Liquid Financial Engines, Inc. (“Liquid”) and Aurum, Inc., a Delaware Corporation that was a wholly owned subsidiary of Liquid. The Reincorporation was effected by merging Liquid with Aurum, with Aurum being the surviving entity. For financial reporting purposes Aurum is deemed a successor to Liquid.

In July 2009, Golden acquired a 96% interest in Aurum from certain stockholders. In connection therewith, the Company appointed a new President/Chief Executive Officer and Chief Financial Officer/Secretary and a new sole Director. The sole director and stockholder of Golden is also the President of the Company.

Commencing August 2009, the Company decided to focus on mineral exploration for gold and copper in the Lao Peoples Democratic Republic (Lao P.D.R or Laos).

In December 2010, the Company executed a Management and Shareholders Agreement with Argonaut Overseas Investments Ltd (“AOI”), an indirectly wholly owned Subsidiary of Argonaut Resources N.L., in respect to Argonaut’s 70% held Century Concession in Laos. The agreement appointed Aurum as the manager of the Century Thrust Joint Venture Agreement (“Joint Venture”) and the Company had the right to earn 72.86% of AOI’s interest in the Joint Venture which was equivalent to a 51% beneficial interest in the Century Concession.

The Century Concession expired in fiscal 2014 and was not renewed. As a result, the Company no longer has any exploration interests in Laos.

The Company has now commenced a search for new projects that the Company may be able to acquire an interest in.

The Company’s ability to continue operations for the foreseeable future is dependent upon future funding from affiliated entities, capital raisings, or its ability to commence revenue producing operations and positive cash flows, however there can be no assurance that the Company will be successful in these efforts.

XML

RECENT ACCOUNTING PRONOUNCEMENTS

6 Months Ended

Apr. 30, 2015

Accounting Changes and Error Corrections [Abstract]

RECENT ACCOUNTING PRONOUNCEMENTS

(2) RECENT ACCOUNTING PRONOUNCEMENTS

The Company has implemented all new accounting pronouncements that are in effect and applicable to the Company. These pronouncements did not have any material impact on the consolidated financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

XML

GOING CONCERN

6 Months Ended

Apr. 30, 2015

Going Concern

GOING CONCERN

(3) GOING CONCERN

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of Aurum as a going concern. Aurum has incurred net losses since inception and may continue to incur substantial and increasing losses for the next several years, all of which raises substantial doubt as to its ability to continue as a going concern.

In addition, Aurum is reliant on loans and advances from corporations affiliated with the President of Aurum. Based on discussions with these affiliate companies, Aurum believes this source of funding will continue to be available. Other than the arrangements noted above, Aurum has not confirmed any other arrangement for ongoing funding. As a result Aurum may be required to raise funds by additional debt or equity offerings in order to meet its cash flow requirements during the forthcoming year.

The retained deficit of the Company from inception (September 2008) through April 30, 2015 amounted to approximately $9.7 million.

XML

AFFILIATE TRANSACTIONS

6 Months Ended

Apr. 30, 2015

Related Party Transactions [Abstract]

AFFILIATE TRANSACTIONS

(4) AFFILIATE TRANSACTIONS

The Company entered into an agreement with AXIS Consultants Pty Ltd (“AXIS”) to provide management and administration services to the Company. AXIS is affiliated through common management. The Company is one of nine affiliated companies to which AXIS provides services. Each of the companies has some common Directors, officers and shareholders. Currently, there are no material arrangements or planned transactions between the Company and any of the affiliated companies other than AXIS.

During the six months ended April 30, 2015, AXIS provided services in accordance with the services agreement, incurred direct costs on behalf of the Company and provided funding of $16,660. During the six months ended April 30, 2015, the foreign exchange effect on the amounts owed to affiliates was a gain of $627,103. The amounts owed to AXIS as of April 30, 2015 and October 31, 2014 is $6,423,044 and $7,025,426, respectively, and are reflected in non-current liabilities - advance from affiliates. At April 30, 2015, the Company owed the former Managing Director of its Laos operation $232,500 (2014: $232,500). During the six months ended April 30, 2015 and 2014, the affiliates have agreed not to charge interest.

The Company intends to repay these amounts with funds raised either via additional debt or equity offerings. Both affiliates have agreed not to call the advance within the next twelve months (refer footnote 11 – Subsequent Events) and accordingly the Company has classified the amounts payable as non-current in the accompanying balance sheet.

XML

INCOME TAXES

6 Months Ended

Apr. 30, 2015

Income Tax Disclosure [Abstract]

INCOME TAXES

(5) INCOME TAXES

Aurum files its income tax returns on an accrual basis.

The Company follows the accounting requirements associated with uncertainty in income taxes using the provisions of FASB ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the consolidated financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of April 30, 2015, the Company has no uncertain tax positions that qualify for either recognition or disclosure in the consolidated financial statements.

The Company is required to file tax returns in the United States and a summary of the deferred tax asset at April 30, 2015 is as follows:.

	USA $			Total $
Deferred tax assets
Net operating loss carry-forward		827,643			827,643
Less valuation allowance		(827,643	)		(827,643	)
Net deferred taxes		-			-

The Company has available net operating loss carry forwards as of April 30, 2015, which are subject to limitations, aggregating approximately $2,364,000 which would expire in years 2028 through 2033.

The Company’s tax returns for all years since fiscal 2012 remain open to examination by the respective tax authorities.  There are currently no tax examinations in progress.

XML

STOCKHOLDERS' EQUITY

6 Months Ended

Apr. 30, 2015

Equity [Abstract]

STOCKHOLDERS' EQUITY

(6) STOCKHOLDERS’ EQUITY

In September 2008, 96,000,000 shares of common stock were issued to the Company’s founder raising $9,000.

In March 2009, the Company raised $12,000 in a registered public offering of 9,600,000 shares of common stock share pursuant to a prospectus dated January 30, 2009.

XML

ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN

6 Months Ended

Apr. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN

(7) ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN

(i) Effective December 13, 2010, the Company issued 2,500,000 options over shares of Common Stock to employees under the 2010 Equity Incentive Plan that has been adopted by the Directors of the Company. The options vested 1/3 on December 13, 2010, 1/3 vested on November 17, 2011 and the balance vested on November 17, 2012. The exercise price of the options is US$1.00 and the latest exercise date for the options is November 17, 2020.

The Company has accounted for all options issued based upon their fair value using the Binomial pricing model.

An external consultant has calculated the fair value of the 2,500,000 options using the Binomial valuation method using the following inputs:

Grant date	Dec 13, 2010	Dec 13, 2010	Dec 13, 2010
Grant date share price	US$1.10	US$1.10	US$1.10
Vesting date	Dec 13, 2010	Nov 17, 2011	Nov 17, 2012
Expected life in years	4.5	5.0	5.5
Risk-free rate	1.91%	1.91%	1.91%
Volatility	95%	95%	95%
Exercise price	US$1.00	US$1.00	US$1.00
Call option value	US$0.78	US$0.81	US$0.83

At October 31, 2014 and April 30, 2015, there are 2,500,000 options outstanding with an option price per share and weighted average exercise price of US$1.00.  The exercise price is US$1.00 per option. The weighted average per option fair value of options granted during fiscal 2011 was US$0.81 and the weighted average remaining contractual life of those options at April 30, 2015 is 5 years. At April 30, 2015 there are 2,500,000 options exercisable.

As a result of the termination of the employee holding the options, the employee had a period of 90 days from the date of termination to exercise the options. The holder did not exercise the options therefore the options expired in May 2015.

(ii) In May 2011, the Company issued 750,000 options over shares of Common Stock to employees under the 2010 Equity Incentive Plan that has been adopted by the Directors of the Company. The options vested 1/3 upon grant date, 1/3 vested on February 1, 2012 and the balance vested on February 1, 2013. The exercise price of the options is US$1.00 and the latest exercise date for the options is February 1, 2018.

The Company has accounted for all options issued based upon their fair value using the Binomial pricing model.

As a result of the termination of the employee holding the options, the employee had a period of 90 days from the date of termination to exercise the options. The holder did not exercise the options therefore the options have expired in April 2014.

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FAIR VALUE OF FINANCIAL INSTRUMENTS

6 Months Ended

Apr. 30, 2015

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

(8) FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company’s financial instruments consist of cash, receivables, accounts payable, accrued expenses and advances from affiliates. The carrying amounts of cash, receivables, accounts payables and accrued expenses approximates their fair values because of the short term maturities of those instruments. The fair value of advances from affiliates is not readily determinable as no similar market exists for these instruments and it doesn’t have a specified date of repayment.

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NET INCOME (LOSS) PER SHARE

6 Months Ended

Apr. 30, 2015

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

(9) NET INCOME (LOSS) PER SHARE

Basic income (loss) per share is computed by dividing net profit (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Options to acquire 3,250,000 shares of common stock were not included in the diluted weighted average shares outstanding as such effects would be anti-dilutive.

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CASH

6 Months Ended

Apr. 30, 2015

Cash and Cash Equivalents [Abstract]

CASH

(10) CASH

The Company maintains cash deposits with financial institutions in Australia and in Laos (USD).  Cash deposits maintained in Australian dollars are translated into US dollars at the period end exchange rate with the related adjustment recognized in statements of operations.

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SUBSEQUENT EVENTS

6 Months Ended

Apr. 30, 2015

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

(11) SUBSEQUENT EVENTS

The Company has evaluated significant events subsequent to the balance sheet date through the date the consolidated financial statements were issued and has determined that there were no subsequent events or transactions which would require recognition or disclosure in the consolidated financial statements.

In July 2015, the Company issued 30,000,000 shares of common stock to AXIS Consultants Pty Ltd as repayment of a debt of $5,057,776.

On April 1, 2016 the Company announced that it had entered into an agreement with an Israeli company, PayItSimple Ltd and its subsidiaries (PayItSimple) whereby the Company would invest $15 million directly into PayItSimple by September 5, 2016 to acquire a 30% interest in PayItSimple, and a further $7.5 million into PayItSimple over 18 months to acquire a further 10% interest in PayItSimple, taking its holding to 40% of interest in PayItSimple.  PayItSimple owns a business known as Splitit. On April 6, 2016 the Company terminated the proposed acquisition of PayItsimple.

On June 27, 2016 the Company announced that it had entered into a binding term sheet with the shareholders of an Israeli company, Humavox Ltd (Humavox), a company that creates wireless charging solutions. In accordance with the proposed acquisition of Humavox, Aurum would acquire 100% of the shares of Humavox and 100% of the warrants and options to acquire shares of Humavox in exchange for the issue of shares of common stock of Aurum representing 50% of the shares of common stock of Aurum post issue on a fully-diluted basis, including the investment of an amount of US$16 million in Humavox.  The investment would take place in unconditional instalments over a period of 24 months following the closing. The closing of the merger was subject to certain closing conditions, including the investment in Humavox of the first instalment of the investment in the amount of $5.5 million. On July 29, 2016 the Company terminated the proposed acquisition of Humavox.

In April 2016, the Company raised $38,329 through the private placement of 250,000 shares of common stock.

On July 19, 2017, the Company entered into a Term Sheet with Lior Wayn, Erez Glazer and Dr Guy Shalom, (collectively, the ‘’Sellers”)  for the acquisition of all of the issued shares of a medical technology business. The Company has a 120 day period to conduct due diligence and negotiate a formal share sale agreement.

The purchase price is up to USD$7,500,000 which is to be satisfied as follows:

a) The sum of USD$100,000 payable to the Sellers for due diligence expenses, 30 business days from the execution of the Term Sheet;

b)  A further USD$100,000 each month after the date in a) above for due diligence expenses, for 3 months,  payable to the Sellers for working capital purposes;

c) An issue of fully paid ordinary shares of common stock of the Company to the value of USD$2,500,000 (less any payments made to the Sellers under (a) and (b) above) to the Sellers at an issue price of USD$0.22 per share of common stock (Consideration Shares);

d) The issue to the Sellers of shares of common stock to the equivalent to USD$2,500,000 at the issue price of USD$0.22, subject to the Sellers achieving sales revenue of USD$100,000 within twelve months after the first anniversary of Completion; and

e) The issue to the Sellers of shares of common stock to the equivalent to USD$2,500,000 at the issue price of USD$0.22, subject to the Sellers achieving sales revenue of USD$1,000,000 within twelve months after the first anniversary of Completion.

If the Transaction is terminated or is in the reasonable opinion of the Company unable to proceed at any point, the Vendors and the Sellers have agreed to convert any monies paid to the Sellers under (a) and (b) above into convertible securities in the Sellers.

As part of the agreement and as a condition to completion, the Company will raise USD$2,500,000.

Pending completion, the Sellers are required to carry on business in the ordinary course.

In July 2017, the Company raised $38,329 through the private placement of 250,000 shares of common stock.

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INCOME TAXES (Tables)

6 Months Ended

Apr. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of Deferred Taxes

The Company is required to file tax returns in the United States and a summary of the deferred tax asset at April 30, 2015 is as follows:.

	USA $			Total $
Deferred tax assets
Net operating loss carry-forward		827,643			827,643
Less valuation allowance		(827,643	)		(827,643	)
Net deferred taxes		-			-

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ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN (Tables)

6 Months Ended

Apr. 30, 2015

Options Granted December 13, 2010 [Member]

Schedule of Fair Value Assumptions Used for Stock Options

An external consultant has calculated the fair value of the 2,500,000 options using the Binomial valuation method using the following inputs:

Grant date	Dec 13, 2010	Dec 13, 2010	Dec 13, 2010
Grant date share price	US$1.10	US$1.10	US$1.10
Vesting date	Dec 13, 2010	Nov 17, 2011	Nov 17, 2012
Expected life in years	4.5	5.0	5.5
Risk-free rate	1.91%	1.91%	1.91%
Volatility	95%	95%	95%
Exercise price	US$1.00	US$1.00	US$1.00
Call option value	US$0.78	US$0.81	US$0.83

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ORGANIZATION AND BUSINESS (Details)	6 Months Ended
	Apr. 30, 2015	Dec. 31, 2010	Jul. 31, 2009
Golden Target Pty Ltd, Principal Stockholder [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of entity owned	96.21%
Percentage of the entity acquired from certain stockholders			96.00%
Century Thrust Joint Venture Agreement [Member] | Century Concession in Laos [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Aggregate percentage owned by unrelated entity		70.00%
Potential percentage of investee earnings attributable to Aurum if specified funding is provided by Aurum	72.86%
Potential ownership percentage if funding is provided by Aurum	51.00%

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GOING CONCERN (Details) - USD ($)	Apr. 30, 2015	Oct. 31, 2014
Going Concern
Retained deficit	$ 9,664,072	$ 10,253,498

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AFFILIATE TRANSACTIONS (Details) - USD ($)	6 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Oct. 31, 2014
Related Party Transaction [Line Items]
Borrowings from affiliates	$ 24,721	$ 193,626
Payable to affiliates	6,655,544		$ 7,257,926
Axis Consultants Pty Ltd [Member]
Related Party Transaction [Line Items]
Foreign currency translation effect gain	627,103
Direct costs of the entity that were paid by the management firm	16,660
Borrowings from affiliates	627,103
Payable to affiliates	6,423,044		$ 7,025,426
Manager Of Laos Operations [Member]
Related Party Transaction [Line Items]
Payable to affiliates	$ 232,500	$ 232,500

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INCOME TAXES (Narrative) (Details)	6 Months Ended
	Apr. 30, 2015 USD ($)
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards	$ 2,364,000
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards, expiration period	Apr. 30, 2028
Open tax year	2012
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards, expiration period	Apr. 30, 2033

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INCOME TAXES (Schedule of Deferred Taxes) (Details)	Apr. 30, 2015 USD ($)
Deferred tax assets
Net operating loss carry-forward	$ 827,643
Less valuation allowance	(827,643)
Net deferred taxes
USA [Member]
Deferred tax assets
Net operating loss carry-forward	827,643
Less valuation allowance	(827,643)
Net deferred taxes

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STOCKHOLDERS' EQUITY (Details) - Common Stock [Member] - USD ($)	1 Months Ended
	Mar. 31, 2009	Sep. 30, 2008
Public Offering [Member]
Stockholders Equity Note [Line Items]
Shares issued	9,600,000
Proceeds from issuance of shares	$ 12,000
Founder [Member] | Private Placement [Member]
Stockholders Equity Note [Line Items]
Shares issued		96,000,000
Proceeds from issuance of shares		$ 9,000

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ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN (Narrative) (Details) - 2010 Equity Incentive Plan [Member] - $ / shares		1 Months Ended	6 Months Ended
	Dec. 13, 2010	May 31, 2011	Apr. 30, 2015	Oct. 31, 2014
Options Granted December 13, 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted	2,500,000
Employee stock option vesting rights			1/3 on December 13, 2010, 1/3 vested on November 17, 2011 and the balance vested on November 17, 2012.
Stock options expiration date			Nov. 17, 2020
Weighted average grant date fair value per option granted			$ 0.81
Weighted average remaining contractual life			5 years
Options exercisable			2,500,000
Number of options, outstanding			2,500,000	2,500,000
Options Granted May 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted		750,000
Employee stock option vesting rights			The options vested 1/3 upon grant date, 1/3 vested on February 1, 2012 and the balance vested on February 1, 2013
Stock options expiration date			Feb. 01, 2018

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ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN (Schedule of Fair Value Inputs) (Details) - 2010 Equity Incentive Plan [Member] - $ / shares	6 Months Ended
	Apr. 30, 2015	Jan. 31, 2015
Options Vested on Dec 13, 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date	Dec. 13, 2010
Grant date share price		$ 1.10
Vesting date	Dec. 13, 2010
Expected life in years	4 years 6 months
Risk-free rate	1.91%
Volatility	95.00%
Exercise price		1.00
Call option value	$ 0.78
Options Vested on Nov 17, 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date	Dec. 13, 2010
Grant date share price		1.10
Vesting date	Nov. 17, 2011
Expected life in years	5 years
Risk-free rate	1.91%
Volatility	95.00%
Exercise price		1.00
Call option value	$ 0.81
Options Vesting on Nov 17, 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date	Dec. 13, 2010
Grant date share price		1.10
Vesting date	Nov. 17, 2012
Expected life in years	5 years 6 months
Risk-free rate	1.91%
Volatility	95.00%
Exercise price		$ 1.00
Call option value	$ 0.83

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NET INCOME (LOSS) PER SHARE (Detail)	6 Months Ended
	Apr. 30, 2015 shares
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock options excluded from diluted weighted average shares outstanding	3,250,000

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SUBSEQUENT EVENTS (Details) - Subsequent Event [Member] - USD ($)		1 Months Ended
	Jul. 19, 2017	Jul. 31, 2017	Jul. 31, 2016	Jun. 27, 2016	Apr. 30, 2016	Jul. 31, 2015	Apr. 01, 2016
Common Stock [Member]
Subsequent Event [Line Items]
Proceeds from private placement		$ 38,329			$ 38,329
Proceeds from private placement, shares		250,000			250,000
Humavox [Member]
Subsequent Event [Line Items]
Percentage of interest purchased in acquisition				100.00%
Total purchase price				$ 16,000,000
Percentage of Company's common stock offered as consideration for acquisition				50.00%
Period of unconditional installments				24 months
Termination date for business acquisition agreement			Jul. 29, 2016
Humavox [Member] | Warrants and options [Member]
Subsequent Event [Line Items]
Percentage of interest purchased in acquisition				100.00%
Humavox [Member] | First installment amount [Member]
Subsequent Event [Line Items]
Total purchase price				$ 5,500,000
Medical technology business [Member] | Scenario, Forecast [Member]
Subsequent Event [Line Items]
Consideration owed for due diligence expenditures	$ 100,000
Consideration owed for additional due diligence expenditures	100,000
Common stock issuable as consideration for business acquisition at an issue price of USD$0.22	$ 2,500,000
Common stock issuance price per share	$ 0.22
Common stock issuable as consideration at issue price of USD$0.22 subject to the Sellers achieving sales revenue of USD$100,000 within twelve months after the first anniversary of Completion	$ 2,500,000
Common stock issuable as consideration at the issue price of USD$0.22, subject to the Sellers achieving sales revenue of USD$1,000,000 within twelve months after the first anniversary of Completion	$ 2,500,000
Issuance price per share for each milestone achieved	$ 0.22
Required capital to be raised by Company as part of acquisition agreement and as a condition to completion	$ 2,500,000
Medical technology business [Member] | Scenario, Forecast [Member] | Maximum [Member]
Subsequent Event [Line Items]
Purchase price	$ 7,500,000
PayItSimple [Member]
Subsequent Event [Line Items]
Investment amount							$ 15,000,000
Percentage purchase of interest							30.00%
Termination date for business acquisition agreement					Apr. 06, 2016
PayItSimple [Member] | Total Interest Holding [Member]
Subsequent Event [Line Items]
Percentage purchase of interest							40.00%
PayItSimple [Member] | Additional Investment [Member]
Subsequent Event [Line Items]
Investment amount							$ 7,500,000
Percentage purchase of interest							10.00%
Axis Consultants Pty Ltd [Member]
Subsequent Event [Line Items]
Shares issued for repayment of debt						30,000,000
Shares issued for repayment of debt, value						$ 5,057,776