Annual report pursuant to Section 13 and 15(d)

Warrants and Stock Options

v3.5.0.2
Warrants and Stock Options
 12 Months Ended
Oct. 31, 2010
Compensation Related Costs [Abstract]  
Warrants and Stock Options

NOTE 9 - WARRANTS AND STOCK OPTIONS

 

Transactions involving stock options and warrants issued are summarized as follows:

 

Warrants   Year ended
October 31, 2010 		    Year ended
October 31, 2009 		 
    Number     Weighted
Average Exercise
Price 		    Number     Weighted
Average Exercise
Price 		 
                         
Outstanding at beginning of the period     32,583,418     $ 1.42       32,583,418     $ 1.42  
Granted during the period     -       -       -       -  
Terminated during the period     (8,464,000 )     1.28       -       -  
                                 
Outstanding at the end of the period     24,119,418     $ 1.47       32,583,418     $ 1.42  
                                 
Exercisable at the end of the period     24,119,418     $ 1.47       32,583,418     $ 1.42  

 

The number and weighted average exercise prices of warrants outstanding as of October 31, 2010 are as follows:

 

Range of
Exercise Prices 		  Number
Outstanding 		    Weighted Average
Contractual Life
(Yrs) 		    Total Exercisable  
$0.50     250,000       0.50       250,000  
0.58     400,000       0.41       400,000  
1.00     350,000       0.82       350,000  
1.30     11,559,709       1.14       11,559,709  
$1.70     11,559,709       1.14       11,559,709  
Totals     24,119,418       1.17       24,119,418  

 

Stock Options   Year ended
October 31, 2010 		    Year ended
October 31, 2009 		 
    Number     Weighted
Average Exercise
Price 		    Number     Weighted
Average Exercise
Price 		 
                         
Outstanding at beginning of the period     5,595,900     $ 1.18       5,755,900     $ 1.18  
Granted during the period     50,000       1.05       50,000       1.30  
Terminated during the period     (4,106,000 )     1.16       (210,000 )     1.32  
                                 
Outstanding at the end of the period     1,539,900     $ 1.19       5,595,900     $ 1.18  
                                 
Exercisable at the end of the period     1,539,900     $ 1.19       5,214,149     $ 1.17  

 

The number and weighted average exercise prices of stock purchase options outstanding as of October 31, 2010 are as follows:

 

Range of
Exercise Prices 		  Number
Outstanding 		    Weighted Average
Contractual Life
(Yrs) 		    Total Exercisable  
$1.00     839,900       0.38       839,900  
1.05     50,000       4.60       50,000  
1.30     375,000       2.76       375,000  
1.50     65,000       1.42       65,000  
$1.70     210,000       1.66       210,000  
Totals     1,539,900       1.32       1,539,900  

 

There is no intrinsic value to the option exercisable as of October 31, 2010.

 

See Note 16 of the Consolidated Financial Statement for current information on the status of Warrants and Stock Options.