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AURM
AURUM, INC.
Yes
false
Smaller Reporting Company
FY
No
2012
10-K
2012-10-31
0001450708
No
--10-31
3618455
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(13)         COMMITMENTS</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the
Century Thrust Joint Venture Agreement (Joint Venture), the Company
may fund up to $6.5 million in exploration expenditure, of
which $3.19 million has already been funded, in order to acquire a
51% beneficial interest in the Joint Venture. Should Aurum wish to
execute its rights under the agreement, it may be required to
expend up to a further $3.31 million on the Century Thrust
Concession (see note 1). All such exploration costs are being
expensed as incurred.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 63pt; TEXT-INDENT: 36pt; TEXT-ALIGN: left">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)  </font></div>
</td>
<td>
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Comparative
Figures</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Where necessary,
comparative figures have been restated to be consistent with
current year presentation.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11)         STOCKHOLDERS’
EQUITY</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In September 2008,
96,000,000 shares of common stock were issued to the
Company’s founder raising $9,000.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On September 29,
2009 the Company’s Board of Directors declared an 8-for-1
stock split in the form of a stock dividend that was payable in
October 2009 to stockholders of record as of October 23,
2009.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company has
accounted for this bonus issue as a stock split and accordingly,
all share and per share data has been retroactively
restated.</font></div>
</div>
-3618455
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 63pt; TEXT-INDENT: 36pt; TEXT-ALIGN: left">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)  </font></div>
</td>
<td>
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Property and
Equipment</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Property and
equipment are recorded at cost. Depreciation is provided for using
the straight-line method over the estimated useful life of the
assets:</font></div>
<div> </div>
<div>
<div align="right">
<table cellpadding="0" cellspacing="0" width="93%" style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="30%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font></td>
<td valign="top" width="30%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Depreciable
Life</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(in
years)</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Office
equipment</font></div>
</td>
<td valign="top" width="30%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1-2</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Computer
equipment</font></div>
</td>
<td valign="top" width="30%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1-3</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Furniture</font></div>
</td>
<td valign="top" width="30%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1-2</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font></td>
</tr>
</table>
</div>
</div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 63pt; TEXT-INDENT: 36pt; TEXT-ALIGN: left">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)  </font></div>
</td>
<td>
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cash
Equivalents</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Aurum considers all
highly liquid investments with an original maturity of three months
or less at the time of purchase to be cash
equivalents.  For the periods presented there were no
cash equivalents.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(10)         NET
LOSS PER SHARE</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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. Diluted earnings per share is
similarly calculated using the treasury stock method except that
the denominator is increased to reflect the potential dilution that
would occur if dilutive securities at the end of the applicable
period were exercised. Options to acquire 2,166,666 shares of
common stock were not included in the diluted weighted average
shares outstanding as such effects would be
anti-dilutive.</font></div>
</div>
314888
-2533977
-19743
-0.03
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7)           FAIR
VALUE OF FINANCIAL INSTRUMENTS</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company’s
financial instruments consist of cash, accounts payable and accrued
expenses, and advances from affiliate. The carrying amounts of cash
approximate their respective fair values because of the short
maturities of those instruments. Financial liabilities for which
carrying values approximate fair value include accounts payable and
accrued expenses. The fair value of advances from affiliate is not
readily determinable as no similar market exists for these
instruments and it doesn’t have a specified date of
repayment.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5)      
    AFFILIATE TRANSACTIONS</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August 2009, the
Company entered into an agreement with AXIS Consultants Pty Ltd to
provide geological, management and administration services to the
Company. AXIS is affiliated through common management. The Company
is one of ten affiliated companies under common management with
AXIS. Each of the companies has some common Directors, officers and
shareholders. In addition, each of the companies is substantially
dependent upon AXIS for its senior management and administration
staff. It has been the intention of the affiliated companies and
respective Boards of Directors that each of such arrangements or
transactions should accommodate the respective interest of the
relevant affiliated companies in a manner which is fair to all
parties and equitable to the shareholders of each. Currently, there
are no material arrangements or planned transactions between the
Company and any of the other affiliated companies other than
AXIS.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AXIS is paid by
each company for the costs incurred by it in carrying out the
administration function for each such company. Pursuant to the
Service Agreement, AXIS performs such functions as payroll,
maintaining employee records required by law and by usual
accounting procedures, providing insurance, legal, human resources,
company secretarial, land management, certain exploration and
mining support, financial, accounting advice and
services.  AXIS procures items of equipment necessary in
the conduct of the business of the Company.  AXIS also
provides for the Company various services, including but not
limited to the making available of office supplies, office
facilities and any other services as may be required from time to
time by the Company as and when requested by the
Company.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company is
required to reimburse AXIS for any direct costs incurred by AXIS
for the Company. In addition, the Company is required to pay a
proportion of AXIS’s overhead cost based on AXIS’s
management estimate of our utilisation of the facilities and
activities of AXIS plus a service fee of not more than 15% of the
direct and overhead costs. Amounts invoiced by AXIS are required to
be paid by us.  The Company is also not permitted to
obtain from sources other than AXIS, and we are not permitted to
perform or provide ourselves, the services contemplated by the
Service Agreement, unless we first request AXIS to provide the
service and AXIS fails to provide the service within one
month.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Service
Agreement may be terminated by AXIS or us upon 60 days prior
notice.  If the Service Agreement is terminated by AXIS,
the Company would be required to independently provide, or to seek
an alternative source of providing, the services currently provided
by AXIS.  There can be no assurance that the Company
could independently provide or find a third party to provide these
services on a cost-effective basis or that any transition from
receiving services under the Service Agreement will not have a
material adverse effect on us.  The Company’s
inability to provide such services or to find a third party to
provide such services may have a material adverse effect on our
operations.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In accordance with
the Service Agreement AXIS provides the Company with the services
of the Company’s Chief Executive Officer, Chief Financial
Officer, geologists and clerical employees, as well as office
facilities, equipment, administrative and clerical services. We pay
AXIS for the actual costs of such facilities plus a maximum service
fee of 15%.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The payable to
affiliates at October 31, 2012 in the amount of $6,630,197 (2011:
$4,174,304) is primarily due to AXIS. During the year ended October
31, 2012, AXIS provided services in accordance with the services
agreement and incurred direct costs on behalf of the Company of
$253,294 (2011: $320,051), and advanced the Company $2,029,099
(2011: $2,774,981). During the year ended 31 October 2012, the
Manager of the Laos operations advanced the Company $173,500. The
Company intends to repay these amounts with funds raised either via
additional debt or equity offerings. The affiliates have agreed not
to require repayment of these advances prior to October 31, 2013,
accordingly, the Company has decided to classify the amounts
payable as non-current in the accompanying balance
sheets.</font></div>
</div>
2522687
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom" colspan="2">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="10">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">At October 31,
2012</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="10">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">At October 31,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Depreciable<br />
Life</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(in
years)</font></div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cost</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accumulated
Depreciation</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net<br />
Book<br />
Value</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cost</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accumulated
Depreciation</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net<br />
Book<br />
Value</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="bottom" width="16%" align="left">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Office
Equipment</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: center" valign="bottom" width="1%" colspan="2"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-2</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,830</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3,830</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,830</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3,383</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">447</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="bottom" width="16%" align="left">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Computer
Equipment</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: center" valign="bottom" width="1%" colspan="2"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-3</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">101,975</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(73,303</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">28,672</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">101,975</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(34,031</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">67,944</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="PADDING-BOTTOM: 2px" valign="bottom" width="16%" align="left">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Furniture</font></div>
</td>
<td style="PADDING-BOTTOM: 2px" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px" valign="bottom" width="1%" colspan="2"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-2</font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">650</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(481</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">169</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">650</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(155</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">495</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="PADDING-BOTTOM: 2px" valign="bottom" width="16%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">106,455</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(77,614</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">28,841</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">106,455</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(37,569</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">68,886</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
</table>
</div>
646953
2617093
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(15)         SUBSEQUENT
EVENTS</font></div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has
evaluated the existence of significant events subsequent to the
balance sheet date through the date the financial statements were
issued and has determined that there were no subsequent events or
transactions which would require recognition or disclosure in the
financial statements, other than noted herein.</font></div>
</div>
3
-430619
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 63pt; TEXT-INDENT: 36pt; TEXT-ALIGN: left">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)  </font></div>
</td>
<td>
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Federal Income
Tax</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company accounts for income taxes pursuant to ASC Topic 740,
"Accounting for Income Taxes", which requires an asset and
liability approach to calculating deferred income
taxes.  The asset and liability approach requires the
recognition of deferred tax liabilities and assets for the expected
future tax consequences of temporary differences between the
carrying amounts and the tax basis of assets and liabilities. For
the period presented, there was no taxable income. There are no
deferred income taxes resulting from temporary differences in
reporting certain income and expense items for income tax and
financial accounting purposes. Aurum at this time is not aware of
any net operating losses which are expected to be
realised.</font></div>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(4)    
      PROPERTY AND
EQUIPMENT</font></div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Property and
equipment is stated at cost. The Company records depreciation and
amortization, when appropriate, using the straight-line method over
the estimated useful lives of the assets. Expenditures for
maintenance and repairs are charged to expense as incurred.
Additions, major renewals and replacements that increase the
property’s useful life are capitalized. Property sold or
retired, together with the related accumulated depreciation is
removed from the appropriate accounts and the resultant gain or
loss is included in net income (loss).</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom" colspan="2">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="10">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">At October 31,
2012</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="10">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">At October 31,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Depreciable<br />
Life</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(in
years)</font></div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cost</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accumulated
Depreciation</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net<br />
Book<br />
Value</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cost</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accumulated
Depreciation</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net<br />
Book<br />
Value</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="bottom" width="16%" align="left">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Office
Equipment</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: center" valign="bottom" width="1%" colspan="2"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-2</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,830</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3,830</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,830</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3,383</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">447</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="bottom" width="16%" align="left">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Computer
Equipment</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: center" valign="bottom" width="1%" colspan="2"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-3</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">101,975</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(73,303</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">28,672</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">101,975</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(34,031</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right" valign="bottom" width="9%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">67,944</font></td>
<td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="PADDING-BOTTOM: 2px" valign="bottom" width="16%" align="left">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Furniture</font></div>
</td>
<td style="PADDING-BOTTOM: 2px" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px" valign="bottom" width="1%" colspan="2"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-2</font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">650</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(481</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">169</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">650</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(155</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">495</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="PADDING-BOTTOM: 2px" valign="bottom" width="16%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="PADDING-BOTTOM: 2px" valign="bottom" width="1%">
<font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">106,455</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(77,614</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">28,841</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">106,455</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(37,569</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">68,886</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The depreciation
expense for fiscal 2012 amounted to $40,044 and for fiscal 2011
amounted to $32,179.</font></div>
</div>
39521
86672
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6)    
      INCOME TAXES</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Aurum files its
income tax returns on an accrual basis.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company follows
the accounting requirements associated with uncertainty in income
taxes using the provisions of Financial Accounting Standards Board
(FASB) ASC 740, Income Taxes.  Using that guidance, tax
positions initially need to be recognized in the 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 derecognition, classification, interest
and penalties, accounting in interim periods, disclosure and
transition.  As of October 31, 2012, the Company has no
uncertain tax positions that qualify for either recognition or
disclosure in the financial statements.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company is
required to file tax returns in the United States.  The
Company has available net operating losses carry forward
aggregating approximately US$1,405,000 which would expire in years
2028 through 2031.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company’s
tax returns for all years since 2008 remain open to examination by
the respective tax authorities.  There are currently no
tax examinations in progress.</font></div>
</div>
8588
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Principles of
Consolidation</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
consolidated financial statements include the assets and
liabilities of the Company and the entities it controlled at the
end of the financial period and the results of the Company and the
entities it controlled during the year. Where entities are not
controlled throughout the entire financial year, the consolidated
results include the results of those entities for that part of the
period during which control exists. The effect of all transactions
between entities in the group and the inter-entity balances are
eliminated in full in preparing the consolidated financial
statements. The Company has only one controlled
entity.</font></div>
</div>
40044
646953
-3531780
2522687
105600
-3531780
86672
13398
19878
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(2)           ACCOUNTING
POLICIES</font></div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company is an
exploration stage company and the following is a summary of the
significant accounting policies followed in connection with the
preparation of the financial statements.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Basis of
presentation and use of estimates</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure on
contingent assets and liabilities at the date of the financial
statements, and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those
estimates.</font></div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The functional and
reporting currency of the Company is the US dollar.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Principles of
Consolidation</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
consolidated financial statements include the assets and
liabilities of the Company and the entities it controlled at the
end of the financial period and the results of the Company and the
entities it controlled during the year. Where entities are not
controlled throughout the entire financial year, the consolidated
results include the results of those entities for that part of the
period during which control exists. The effect of all transactions
between entities in the group and the inter-entity balances are
eliminated in full in preparing the consolidated financial
statements. The Company has only one controlled
entity.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Cash
Equivalents</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Aurum considers all
highly liquid investments with an original maturity of three months
or less at the time of purchase to be cash
equivalents.  For the periods presented there were no
cash equivalents.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Federal Income
Tax</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company accounts for income taxes pursuant to ASC Topic 740,
"Accounting for Income Taxes", which requires an asset and
liability approach to calculating deferred income
taxes.  The asset and liability approach requires the
recognition of deferred tax liabilities and assets for the expected
future tax consequences of temporary differences between the
carrying amounts and the tax basis of assets and liabilities. For
the period presented, there was no taxable income. There are no
deferred income taxes resulting from temporary differences in
reporting certain income and expense items for income tax and
financial accounting purposes. Aurum at this time is not aware of
any net operating losses which are expected to be
realised.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(e)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Australian Tax
Law</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company is an Australian resident corporation under Australian law
and accordingly is subject to Australian income tax on its
non-exempt worldwide assessable income (which includes capital
gains), less allowable deductions, at the rate of 30%. Foreign tax
credits are allowed where tax has been paid on foreign source
income, provided the tax credit does not exceed 30% of the foreign
source income.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Under
the U.S. Australia tax treaty, a U.S. resident corporation such as
Aurum is subject to Australian income tax on net profits
attributable to the carrying on of a business in Australia through
a “permanent establishment” in Australia. A
“permanent establishment” is a fixed place of business
through which the business of an enterprise is carried on. The
treaty limits the Australian tax on interest and royalties paid by
an Australian business to a U.S. resident to 10% of the gross
interest or royalty income unless it relates to a permanent
establishment. Although we consider that we do not have a permanent
establishment in Australia, the Company may be deemed to have such
an establishment due to the location of its administrative offices
in Melbourne. In addition we may receive interest or dividends from
time to time.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(f)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Loss per
Share</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company
calculates loss per share in accordance with ASC Topic 260,
“Earnings per Share”.</font></div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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. Diluted loss per
share has not been presented as all the common stock equivalents
are anti-dilutive (see Note 12).</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(g)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Fair value of
Financial Instruments</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 63pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">FASB ASC Topic 825,
“Financial Instruments”, requires the Company to
disclose, when reasonably attainable, the fair market values of its
assets and liabilities which are deemed to be financial
instruments.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(h)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Property and
Equipment</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Property and
equipment are recorded at cost. Depreciation is provided for using
the straight-line method over the estimated useful life of the
assets:</font></div>
<div> </div>
<div>
<div align="right">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="93%">
<tr>
<td valign="top" width="30%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: center" valign="top" width="30%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Depreciable
Life</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(in
years)</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Office
equipment</font></div>
</td>
<td style="TEXT-ALIGN: center" valign="top" width="30%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-2</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Computer
equipment</font></div>
</td>
<td style="TEXT-ALIGN: center" valign="top" width="30%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-3</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Furniture</font></div>
</td>
<td style="TEXT-ALIGN: center" valign="top" width="30%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-2</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
</table>
</div>
<div> </div>
</div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(i)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Comparative
Figures</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Where necessary,
comparative figures have been restated to be consistent with
current year presentation.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(j)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mineral Property
Acquisition, Exploration Costs and Amortization of Mineral
Rights</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mineral
property acquisition, exploration and development costs are
expensed as incurred until such time as economic reserves are
quantified.  To date, the Company has not established any
proven or  probable  reserves on its mineral
properties. When it is determined that a mining deposit can be
economically and legally extracted or produced based on established
proven and probable reserves, further exploration costs and
development costs incurred after such determination will be
capitalized. The establishment of proven and probable reserves is
based on results of final feasibility studies which indicate
whether a property is economically feasible. Upon commencement of
commercial production, capitalized costs will be transferred to the
appropriate asset category and amortized over their estimated
useful lives. Capitalized costs, net of salvage values, relating to
a deposit which is abandoned or considered uneconomic for the
foreseeable future, will be written off.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 63pt; TEXT-INDENT: 36pt; TEXT-ALIGN: left">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)  </font></div>
</td>
<td>
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loss per
Share</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company
calculates loss per share in accordance with ASC Topic 260,
“Earnings per Share”.</font></div>
<div> </div>
<div style="MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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. Diluted loss per
share has not been presented as all the common stock equivalents
are anti-dilutive (see Note 12).</font></div>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(12)         ISSUE
OF OPTIONS UNDER EQUITY INCENTIVE PLAN</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; WIDTH: 36pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(i)  </font></div>
</td>
<td style="TEXT-ALIGN: justify">
<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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 will vest 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.</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has
accounted for all options issued based upon their fair market value
using the Binomial pricing model.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">An external
consultant has calculated the fair value of the 2,500,000 options
using the Binomial valuation method using the following
inputs:</font></div>
<div> </div>
<div align="center">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="90%">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-TOP: black 2px solid" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Grant
date</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dec 13,
2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dec 13,
2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dec 13,
2010</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Grant date share
price</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.10</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.10</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.10</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Vesting
date</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dec 13,
2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Nov 17,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Nov 17,
2012</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Expected life in
years</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.5</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5.0</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5.5</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Risk-free
rate</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.91%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.91%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.91%</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Volatility</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">95%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">95%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">95%</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Exercise
price</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Call option
value</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.78</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.81</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.83</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div align="center">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="90%">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Options</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Option Price<br />
Per Share</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Weighted<br />
Average<br />
Exercise Price</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
November 1, 2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granted</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,500,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Forfeited</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
October 31, 2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,500,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granted</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Forfeited</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
October 31, 2012</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 4px" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,500,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 36pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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 is 8 years. There are 1,666,666 options currently
exercisable.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The total value of
the outstanding unvested options equates to $40,686 and is being
amortised over the vesting periods.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For fiscal 2012,
the amortization amounted to $425,827.</font></div>
<div> </div>
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; WIDTH: 36pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(ii)  </font></div>
</td>
<td style="TEXT-ALIGN: justify">
<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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
will vest 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.</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has
accounted for all options issued based upon their fair market value
using the Binomial pricing model.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">An external
consultant has calculated the fair value of the 750,000 options
using the Binomial valuation method using the following
inputs:</font></div>
<div> </div>
<div align="center">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="90%">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-TOP: black 2px solid" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Grant
date</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">May 1,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">May 1,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">May 1,
2011</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Grant date share
price</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.30</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.30</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.30</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Vesting
date</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">May 1,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Feb 1,
2012</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Feb 1,
2013</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Expected life in
years</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3.5</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.0</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.5</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Risk-free
rate</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.04%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.02%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.02%</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Volatility</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100%</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Exercise
price</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Call option
value</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.91</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.95</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.99</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div align="center">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="90%">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Options</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Option Price<br />
Per Share</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Weighted<br />
Average<br />
Exercise Price</font></div>
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
November 1, 2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granted</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">750,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Forfeited</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
October 31, 2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">750,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granted</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Forfeited</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
October 31, 2012</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 4px" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">750,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 4px" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 4px" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 36pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
exercise price is US$1.00 per option. The weighted average per
option fair value of options granted during fiscal 2011 was US$0.95
and the weighted average remaining contractual life of those
options is 51/4 years. There are 500,000 options currently
exercisable.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The total value of
the outstanding unvested options equates to $35,853 and is being
amortised over the vesting periods.</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For fiscal 2012,
the amortization amounted to $221,125.</font></div>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(g)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Fair value of
Financial Instruments</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 63pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">FASB ASC Topic 825,
“Financial Instruments”, requires the Company to
disclose, when reasonably attainable, the fair market values of its
assets and liabilities which are deemed to be financial
instruments.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3)  
        RECENT ACCOUNTING
PRONOUNCEMENTS</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company has
implemented all new accounting pronouncements that are in effect.
These pronouncements did not have any material impact on the
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.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9)          
CASH</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company
maintains cash deposits with financial institutions in Australia
and in Laos. Cash deposits maintained in Australian dollars are
translated into US dollars at the period end exchange rate with the
related adjustment recognised in operations.</font></div>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Basis of
presentation and use of estimates</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure on
contingent assets and liabilities at the date of the financial
statements, and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those
estimates.</font></div>
<div> </div>
<div style="TEXT-INDENT: 63pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The functional and
reporting currency of the Company is the US dollar.</font></div>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="93%">
<tr>
<td valign="top" width="30%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="TEXT-ALIGN: center" valign="top" width="30%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Depreciable
Life</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(in
years)</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Office
equipment</font></div>
</td>
<td style="TEXT-ALIGN: center" valign="top" width="30%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-2</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Computer
equipment</font></div>
</td>
<td style="TEXT-ALIGN: center" valign="top" width="30%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-3</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td valign="top" width="30%">
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Furniture</font></div>
</td>
<td style="TEXT-ALIGN: center" valign="top" width="30%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-2</font></div>
</td>
<td valign="top" width="40%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
</table>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)         
 ORGANIZATION AND BUSINESS</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Aurum, Inc.
("Aurum” or the “Company") was incorporated in the
State of Florida in September 2008. The principal stockholder of
Aurum is Golden Target Pty Ltd., an Australian corporation
(“Golden”), which owned 96.21% of Aurum as of October
31, 2012.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On January 20,
2010, the Company re-incorporated in the state of Delaware (the
“Reincorporation”) through a merger involving Liquid
Financial Engines Inc. 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 purposes of the Company’s financial
reporting status, Aurum is deemed a successor to
Liquid.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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/Director and Chief Financial
Officer/Secretary. The sole director and stockholder of Golden is
also the President of the Company.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Commencing August
2009, the Company decided to focus on mineral exploration for gold
and copper in the Lao Peoples Democratic Republic. The
Company’s planned operations have not commenced and are
considered to be in the exploration stage.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The agreement
appoints Aurum as the manager of the Century Thrust Joint Venture
Agreement (“Joint Venture”) and the Company has the
right to earn 72.86% of AOI’s interest in the Joint Venture
which is equivalent to a 51% beneficial interest in the Century
Concession. In order to acquire this interest, Aurum must spend
US$6.5 million on exploration within five years.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On February 10,
2011, the Company entered into a Deed of Agreement with the
shareholders of the Lao Inter Mining Options Ltd
(“LIMO”) which granted Aurum an option to purchase
LIMO’s 20% interest in the Joint Venture
(“Option”). This Agreement, in conjunction with the
Management and Shareholders Agreement with AOI would have enabled
Aurum to acquire, at its option, a 71% beneficial interest in the
Century Concession. On October 24, 2011, the Company executed a
Deed of Variation of Call Option extending the exercise date of the
Option to April 24, 2012, for a consideration of $55,000 for each
month extended. (see note 14). The Company decided not to exercise
the option to purchase 20% of the Joint Venture.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company has
funded operations since inception through advances from affiliated
entities. The accompanying financial statements have been prepared
in conformity with accounting principles generally accepted in the
United States of America, which contemplates continuation of Aurum
as a going concern. However, Aurum has limited assets, limited
working capital, has not yet commenced revenue producing operations
and has sustained recurring losses since inception.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company’s
ability to continue operations through fiscal 2013 is dependent
upon future funding from affiliated entities, capital raisings, or
its ability to commence revenue producing operations and positive
cash flows.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8)     
     EXPLORATION STAGE
COMPANY</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company is
considered an exploration stage company and accordingly reports
operations, stockholders deficit and cash flows since inception
through the date that revenues are generated from
management’s intended operations. Since inception, the
Company has incurred an operating loss of $9,379,876. The
Company’s working capital has been primarily generated from
advances from an affiliated entity as well as through the sales of
common stock.</font></div>
</div>
3250000
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(14)         OPTION
AGREEMENT</font></div>
<div> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the
LIMO Deed, as amended, the Company has paid Option Fees of
$405,000, along with associated costs of $20,000.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company had 60
days from the date of the last option payment to exercise the
option to purchase 20% of the Joint Venture for $1.35 million,
inclusive of the option fees of $405,000. On October 24, 2011, the
Company executed a Deed of Variation of Call Option extending the
exercise date of Option to April 24, 2012, for a consideration of
$55,000 for each month extended.  The Company did not
exercise the option to purchase 20% of the Joint Venture on April
24, 2012 and accordingly $425,000 prepaid option fees have been
expensed (see note 1).</font></div>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div>
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top">
<td style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; WIDTH: 63pt">
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(e)  </font></div>
</td>
<td>
<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Australian Tax
Law</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company is an Australian resident corporation under Australian law
and accordingly is subject to Australian income tax on its
non-exempt worldwide assessable income (which includes capital
gains), less allowable deductions, at the rate of 30%. Foreign tax
credits are allowed where tax has been paid on foreign source
income, provided the tax credit does not exceed 30% of the foreign
source income.</font></div>
<div style="TEXT-ALIGN: justify"> </div>
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; MARGIN-LEFT: 63pt">
<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Under
the U.S. Australia tax treaty, a U.S. resident corporation such as
Aurum is subject to Australian income tax on net profits
attributable to the carrying on of a business in Australia through
a “permanent establishment” in Australia. A
“permanent establishment” is a fixed place of business
through which the business of an enterprise is carried on. The
treaty limits the Australian tax on interest and royalties paid by
an Australian business to a U.S. resident to 10% of the gross
interest or royalty income unless it relates to a permanent
establishment. Although we consider that we do not have a permanent
establishment in Australia, the Company may be deemed to have such
an establishment due to the location of its administrative offices
in Melbourne. In addition we may receive interest or dividends from
time to time.</font></div>
</div>
<div style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td style="WIDTH: 63pt; TEXT-INDENT: 36pt; TEXT-ALIGN: left">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)  </font></div>
</td>
<td>
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mineral Property
Acquisition, Exploration Costs and Amortization of Mineral
Rights</font></div>
</td>
</tr>
</table>
</div>
<div> </div>
<div style="MARGIN-LEFT: 63pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mineral
property acquisition, exploration and development costs are
expensed as incurred until such time as economic reserves are
quantified.  To date, the Company has not established any
proven or  probable  reserves on its mineral
properties. When it is determined that a mining deposit can be
economically and legally extracted or produced based on established
proven and probable reserves, further exploration costs and
development costs incurred after such determination will be
capitalized. The establishment of proven and probable reserves is
based on results of final feasibility studies which indicate
whether a property is economically feasible. Upon commencement of
commercial production, capitalized costs will be transferred to the
appropriate asset category and amortized over their estimated
useful lives. Capitalized costs, net of salvage values, relating to
a deposit which is abandoned or considered uneconomic for the
foreseeable future, will be written off.</font></div>
</div>
0.7286
0.51
6500000
P5Y
2011-02-10
0.20
20000
1350000
425000
0.71
405000
2018-02-01
P5Y3M
0.00
1/3 upon grant date, 1/3 vested on February 1, 2012 and the balance will vest on February 1, 2013.
221125
0
0.95
2020-11-17
P8Y
0.00
1/3 on December 13, 2010, 1/3 vested on November 17, 2011 and the balance will vest on November 17, 2012
425827
0
0.81
0.0202
P4Y6M
1.00
0.99
2011-05-01
0.0202
P4Y
1.00
0.95
2011-05-01
0.0104
P3Y6M
1.00
0.91
2011-05-01
0.0191
P5Y6M
0.95
0.83
2010-12-13
0.0191
P5Y
0.95
0.81
2010-12-13
0.0191
P4Y6M
0.95
0.78
2010-12-13
2028
P1Y
P1Y
P1Y
2031
P2Y
P3Y
P2Y
646953
-3531780
2029099
P60D
0.15
253294
173500
0.30
0.10
0.30
2166666
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="90%">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Options</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Option Price<br />
Per Share</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Weighted<br />
Average<br />
Exercise Price</font></div>
<div><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
November 1, 2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granted</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">750,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Forfeited</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
October 31, 2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">750,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granted</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Forfeited</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
October 31, 2012</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 4px" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">750,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 4px" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 4px" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
</table>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">An external
consultant has calculated the fair value of the 750,000 options
using the Binomial valuation method using the following
inputs:</font></div>
<div> </div>
<div align="center">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="90%">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-TOP: black 2px solid" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Grant
date</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">May 1,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">May 1,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">May 1,
2011</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Grant date share
price</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.30</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.30</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.30</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Vesting
date</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">May 1,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Feb 1,
2012</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Feb 1,
2013</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Expected life in
years</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3.5</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.0</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.5</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Risk-free
rate</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.04%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.02%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.02%</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Volatility</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100%</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Exercise
price</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Call option
value</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px double; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.91</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.95</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.99</font></div>
</td>
</tr>
</table>
</div>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="90%">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Options</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Option Price<br />
Per Share</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 2px solid" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="bottom" width="10%" colspan="2">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Weighted<br />
Average<br />
Exercise Price</font></div>
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
November 1, 2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granted</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,500,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Forfeited</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
October 31, 2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,500,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Granted</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Forfeited</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-RIGHT: black 2px solid" valign="bottom" width="64%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Outstanding at
October 31, 2012</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 4px" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,500,000</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="9%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.00</font></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; BORDER-RIGHT: black 2px solid" valign="bottom" width="1%" nowrap="nowrap"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> </font></td>
</tr>
</table>
</div>
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div style="TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">An external
consultant has calculated the fair value of the 2,500,000 options
using the Binomial valuation method using the following
inputs:</font></div>
<div> </div>
<div align="center">
<table style="FONT-FAMILY: times new roman; FONT-SIZE: 8pt" cellspacing="0" cellpadding="0" width="90%">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt; BORDER-TOP: black 2px solid" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Grant
date</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dec 13,
2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-TOP: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dec 13,
2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dec 13,
2010</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Grant date share
price</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.10</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.10</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.10</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Vesting
date</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dec 13,
2010</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Nov 17,
2011</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Nov 17,
2012</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Expected life in
years</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4.5</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5.0</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5.5</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Risk-free
rate</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.91%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.91%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.91%</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Volatility</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">95%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">95%</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">95%</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Exercise
price</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$1.00</font></div>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; TEXT-INDENT: 9pt" valign="top" width="40%">
<div style="TEXT-INDENT: 9pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Call option
value</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.78</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.81</font></div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; BORDER-RIGHT: black 2px solid" valign="top" width="20%">
<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">US$0.83</font></div>
</td>
</tr>
</table>
</div>
</div>
0001450708
aurm:GrantsIn2010Member
2011-11-01
2012-10-31
0001450708
aurm:GrantsIn2011Member
2011-11-01
2012-10-31
0001450708
us-gaap:StockOptionsMember
2011-11-01
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