Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

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Subsequent Events
 3 Months Ended
Jan. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

NOTE 15 - SUBSEQUENT EVENTS

 
1. Pursuant to an agreement entered into in June 2017, on February 1, 2018 the Company issued an aggregate of 6,250 shares of its common stock to two consultants for services rendered at a value of $4.62 for each share of common stock.
   
2. On February 5, 2018, the Company sold 75,000 shares of its common stock to one of its’ directors, at a price of $4.61 per share. The purchase price per share reflects the market value of the Company’s common stock, which, for purposes of stock sales to directors, is defined by the Nasdaq Capital Market as the consolidated closing bid price of the Company’s stock as of February 2, 2018.
   
  This transaction was part of the Company’s private placement that was completed on January 31, 2018 and which was previously disclosed (“the Offering”).   
   
3. On February 12, 2018, pursuant to certain existing pro-rata contractual rights under the Offering dated January 31, 2018 (See Part II (Other Information) Item 2, of this report), the Company sold 2,777 shares of common stock at a price of $4.61 per share to one of the purchasers who participated in the Offering.
   
4. On or around March 15, 2018, the Company repaid to HSBC NA $4,877,793, reducing the outstanding balance to HSBC under the Secured Loan disclosed in Note 9 of the unaudited Consolidated Financial Statements. This payment reduces the principal amount outstanding under this HSBC Secured Loan to $1,917,602 as of March 15, 2018. The Principal Amount will be re-amortized and the monthly payments under this Secured Loan will be approximately $43,777 comprising both principal and interest. The Mandatory Principal Payments called for in the original note have been satisfied with this payment.