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Equity
3 Months Ended
Jan. 31, 2013
Disclosure Text Block Supplement [Abstract]  
Shareholders' Equity and Share-based Payments [Text Block]

NOTE 13 - COMMON STOCK (SUCCESSOR))

 

At January 31, 2013, the Company’s authorized capital was 75,000,000 shares of common stock with a par value of $0.001 and 26,273,333 shares were issued and outstanding.

 

In October 2012, the Company issued 680,000 restricted shares of common stock at a price of $0.25 per share for cash proceeds of $170,000.

 

In November 2012, the Company issued 360,000 restricted shares of common stock at a fair market price of $0.30 per share, as a payment of $108,000 for consulting services. As of January 31, 2013, $108,000 in consulting fees was expensed.   

 

In January 2013, the Company issued 13,600,000 restricted shares of common stock at a fair market price of $0.30 per share in satisfaction of the bonds issued to Sean Tan in the amount of $4,000,000, plus accrued interest of $80,000, for a total of $4,080,000 (see Note 9 and Note 10).  

 

In January 2013, the Company issued 500,000 restricted shares of common stock at a fair market price of $0.33 per share as a payment of $165,000 for consulting services. As of January 31, 2013, $165,000 in consulting fees was expensed.