PROPERTY AND EQUIPMENT

12 Months Ended

Oct. 31, 2013

Restated [Member]

PROPERTY AND EQUIPMENT

(4)PROPERTY AND EQUIPMENT

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).

		At October 31, 2013			At October 31, 2012
	Depreciable Life (in years)	Cost $	Accumulated Depreciation $	Net Book Value $	Cost $	Accumulated Depreciation $	Net Book Value $
Office Equipment	1-2	3,830	(3,830)	-	3,830	(3,830)	-
Computer Equipment	1-3	101,975	(101,552)	423	101,975	(73,303)	28,672
Furniture	1-2	650	(650)	-	650	(481)	169
		106,455	(106,032)	423	106,455	(77,614)	28,841

The depreciation expense for fiscal 2013 amounted to $28,418 and for fiscal 2012 amounted to $40,044.