ISSUE OF OPTIONS UNDER EQUITY INCENTIVE PLAN (Tables)

12 Months Ended

Oct. 31, 2014

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

Schedule of Fair Value Assumptions Used for Stock Options

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

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

Schedule of Stock Option Activity

	Options	Option Price Per Share US$	Weighted Average Exercise Price US$
Outstanding at October 31, 2012	2,500,000	1.00	1.00
Granted	-	-	-
Forfeited	-	-	-
Outstanding at October 31, 2013	2,500,000	1.00	1.00
Granted	-	-	-
Forfeited	-	-	-
Outstanding at October 31, 2014	2,500,000	1.00	1.00